Financial Accounting

Tally Software for Purchase and Inventory Management

Manage inventory and purchase cycles effectively using Tally’s automation tools.

Tally Software for Purchase and Inventory Management
Track Financial Accounting
Duration 30 hours
Skill Level Beginner
Language English

About this Course

Manage inventory and purchase cycles effectively using Tally’s automation tools.
Learning Mode: Learn at ALC or at Home

Detailed Course Curriculum

Hands-on module breakdown aligned with MKCL production standards and industry requirements.

  • What is Billwise feature in Tally Prime?
  • Types of Bills Reference in Tally Prime?
  • Credit Purchase Transaction -I
  • Credit Purchase Transaction -II
  • Credit Sales Transaction - I
  • Credit Sales Transaction -II
  • Receipt Transaction (Against Reference)
  • Payment Transaction (Against Reference)
  • Receipt Transaction (Advance Reference)
  • Payment Transaction (Advance Reference)
  • Receipt and Payment on Account Reference
  • Bill wise Transaction for Non-Trading Account
  • Accounting Ledger Report - Creditors & Debtors
  • Outstanding Receivables Report
  • Outstanding Payables Report
  • Ledgerwise Outstanding Report
  • Groupwise Outstanding Report
  • On Account Reference & Bill Settlements
  • What is Banking Feature in Tally?
  • Mode of Banking Transactions in tally prime
  • Bank Ledger Setup - Current Account
  • Bank Ledger Setup - OD Account
  • Receipt Transaction Single Party
  • Receipt Transaction Multi Party
  • Payment Transaction Single Party
  • Payment Transaction Multi Party
  • Inter Company Fund Transfer - Contra Transaction
  • Cash Purchase (via Bank Account)
  • Cash Sales (via Bank Account)
  • Income Receipt Transaction
  • Expense Payment Transaction
  • Cheque Printing Configuration
  • Cheque Printing from Voucher
  • Cheque Printing Reports
  • Payment Advice - Single Transaction
  • Payment Advice - Multiple Transaction
  • Cheque Register Report
  • Cheque Register Alter Status
  • Cash Deposit Slip
  • Cheque Deposit Slip
  • Post Dated Transaction
  • Post Dated Summary
  • Bank Reconciliation Preview
  • Bank Reconciliation Process
  • What is Multi Currency Feature in Tally Prime?
  • Multi-Currency Concept - ROE, FEF Realised & Unrealised
  • Company Creation with Base Currency
  • Multi - Currency Creation/Alteration
  • Export Invoice Inventory
  • Export Invoice Service
  • Import Invoice - Inventory
  • Import Invoice Service
  • Unadjusted Gain or Loss (FEF) Report
  • Payment against Import Invoice
  • Forex Exchange Gain or Loss Ledger & Voucher Configuration
  • Forex Gain or Loss on Import - Full Payment
  • Forex Gain or Loss on Import - Part Payment
  • Receipt against Export Invoice
  • Forex Gain or Loss on Export - Part Payment
  • Forex Gain or Loss on Export - Full Payment
  • Forex Gain or Loss on Advance Payment
  • Forex Gain or loss on unrealised invoice (Year End)
  • Bank Charges on Receipt
  • Subsequent Year Export Invoice
  • Subsequent Year Receipt
  • Subsequent Year Transaction - Import Purchase
  • Subsequent Year Transaction - Closing ROE
  • Subsequent Year Transaction - Payment Voucher
  • Forex Gain or Loss Reports
  • Do’s & Don’ts’s while working with Multi Currency
  • What is Purchase Order?
  • Purchase Order Cycle in Tally Prime?
  • Purchase Order Feature - Company Creation
  • Purchase Order Feature - Voucher Setup
  • Purchase Order Voucher Configuration
  • Purchase Order Voucher No 1
  • Purchase Order Voucher No 2
  • Receipt Note Voucher No 1
  • Receipt Note Voucher No 2
  • Purchase Invoice No 1
  • Purchase Invoice No 2
  • Payment against Purchase
  • Purchase Order Report
  • Purchase Order Voucher No 1
  • Purchase Order Voucher No 2
  • Receipt Note Voucher No 1
  • Receipt Note Voucher No 2
  • Pre-closure of Purchase Order
  • Rejection out Voucher
  • Purchase Invoice against PO No 1
  • Purchase Invoice against PO No 2
  • Debit Note against Purchase Invoice
  • Payment Entry against Purchase Invoice
  • Purchase Order Report
  • What is Sales Order?
  • Sales Order Cycle in Tally Prime
  • Sales Feature Activation - Company Creation
  • Sales Order Feature - Voucher Activation
  • Sales Order 1 (Buyer 1)
  • Sales Order 2 (Buyer 2)
  • Delivery Note 1 (Buyer 1)
  • Delivery Note 2 (Buyer 2)
  • Sales Invoice 1 (Buyer 1)
  • Sales Invoice 2 (Buyer 2)
  • Receipt against sales invoice
  • Sales Order Report
  • Sales Order Voucher No 1
  • Sales Order Voucher No 2
  • Delivery Note Voucher No 1
  • Delivery Note Voucher No 2
  • Pre-Closure of Sales Order
  • Rejection in Voucher
  • Sales Invoice against SO 1
  • Sales Invoice against SO 2
  • Credit Note
  • Receipt Entry
  • Sales Order Report
  • Company Data Setup
  • Tally Voucher Setup
  • Advance Receipt
  • Sales Order
  • Purchase Order
  • Advance Payment
  • Receipt Note Voucher
  • Rejection and Replacement
  • Stock Transfer
  • Delivery Challan
  • Purchase Invoice
  • Sales Invoice
  • Credit Note
  • What is Inventory Valuation?
  • Stock Item Master Setup
  • Sales & Purchase of Material
  • Average Costing Method Introduction
  • Average Costing Method in Tally
  • FIFO Method Introduction
  • FIFO Method in Tally
  • LIFO Method Introduction
  • LIFO Method in Tally
  • Standard Costing Introduction
  • Standard Costing in Tally
  • Last Purchase Cost Introduction
  • Last Purchase Cost in Tally
  • At Zero Cost Introduction
  • At Zero Cost in Tally
  • Stock Item Profit Report
  • Stock Item Behaviour
  • Company Creation with Foreign Currency
  • Godown and Voucher Setup
  • Master Setup with Opening balance
  • Sales Order Voucher
  • Import Purchase Order
  • Advance Payment against PO
  • Other Accounting Transactions
  • Import Purchase
  • Delivery Challan
  • Rejection in Voucher
  • Sales against Delivery
  • Payment and Receipt
  • Forex Gain or Loss Report
Eligibility Criteria
• Basic knowledge of computers and keen desire to build skills in this field.
• Open to students, job seekers, and working professionals.
Official Certification
• Official MKCL KLiC Certificate upon successful completion of the course and evaluations.
Work-Centric Learning Approach
• Step 1: Learners are given an overview of the course and its connection to life and work
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!

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Admissions Open 2026

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Course Overview
  • Duration: 30 hours
  • Track: Financial Accounting
  • Skill Level: Beginner
  • Language: English
  • Mode: Learn at ALC or at Home
  • Certificate: Official MKCL
Key Course Highlights:
  • At the end of this course, learners will be able to:
  • Interpret the utility of Billwise feature in Tally Prime for precise financial tracking
  • Categorize bill references in Tally Prime to enable detailed financial analysis
  • Construct workflows for managing credit transactions effectively in Tally Prime
  • Summarize generation and analysis of bill-wise reports for financial decision-making
  • Utilize Tally Prime’s banking features to enhance organizational financial operations
  • Organize bank ledger setups in Tally Prime, customizing them for various transactions
  • Diagnose issues in financial records using Tally Prime’s reconciliation features
  • Illustrate the impact of Multi Currency on global operations within Tally Prime
  • Develop strategies for managing purchase orders in Tally Prime from initiation to closure
  • Differentiate advanced purchase functionalities from basic ones, optimizing procurement
  • Formulate sales order management procedures in Tally Prime for accurate tracking
  • Distinguish between standard and advanced sales functionalities in Tally Prime
  • Estimate financial impact of different inventory valuation methods in Tally on reports
  • Appraise Tally Prime’s applications through case studies, validating its effectiveness
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