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THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA ICAI BHAWAN CHENNAI-600034

A PROJECT REPORT SUBMITTED BY

Naveen Kumar J M (REG NO: SRO0273351)

ROLL NO A40 Submitted in partial fulfillment of the requirements for INFORMATION TECHNOLOGY TRAINING DEPARTMENT OF ITT ICAI CHENNAI

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THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA ICAI BHAWAN CHENNAI 600034 DEPARTMENT OF INFORMATION TECHNOLOGY TRAINING

BONAFIDE CERTIFICATE This is to certify that the project work Is carried out by Naveen Kumar J M (REG NO: SRO0273351)
This is to certify that the project work entitled is carried out by under my supervision and guidance during the ITT COURSE.

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INDEX 1. 2. 3. 4. 5. Acknowledgement System Requirement About ICAI About Project Tally Report

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All Voucher Entries Trail Balance Detailed P/L Account - Detailed Balance Sheet Normal, Detailed, Vertical Trial Balance - Quarterly Profit & Loss Account Half yearly Balance sheet for different period Outstanding Report with Ageing Analysis Budget Variance report - Rent, Conveniences Bank Book Before and after Reconciliation Day Book from day 1 to last day Stock Summary report - LG 2 ton Split A/C Stock Movement Analysis Samsung 3 ton Window A/C Stock Query report Sony DVD Box R/W Stock Category report 29 Inches Flat TV Godown Summary report Stacking Godown VAT Annexure Service tax payable report Form 16A Report Cash flow & Fund flow Statement Cost Center Break-up Report Sales & Purchase Bill Pending List of Accounts, Stock Groups, Stock items report
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6.

Conclusion 7. Bibliography

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1. Acknowledgement
At the outset, I would like to thank THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA for organizing this course, which served as a vibrant platform for learning the dynamic areas of computer relevant to us as a future Chartered Accountant.

I would also acknowledge my gratitude to faculty advisors their lectures and guidance Throughout the course and their valuable advices in our practical

sessions Also, I would record my gratitude to my family, friends and Collogues for being with me during all my success and failures.

At the completion of my ITT project work in the partial fulfillment of the requirements to complete the course would like to thanks THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA for conducting this course and making it extremely convenient for the students to obtain knowledge for the very renowned institute. I would like to thank the southern India regional council of ICAI having this platform created for the students helping them gain new heights in the field of professionalism.

Thanking You
Naveen Kumar J M Reg No:SRO0273351

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2. System Requirement 1) Hardware Requirement: The minimum hardware requirements for using the latest version of Tally (that is Tally 9 ERP) are: Processor: Intel Pentium 4 and above or any other equivalent. Memory: 256 MB RAM (recommended 512MB RAM) Free Hard Disk Space: 40MB Minimum (excluding the data). . 2) Operating System: The following operating systems of Microsoft support the project. Microsoft Windows 98 Microsoft Windows ME Microsoft Windows NT Microsoft Windows 2000 Microsoft Windows 2003 Microsoft Windows XP Windows VISTA Windows 2007.etc 3) Software Requirements: Microsoft Word Microsoft Access Tally ERP 9 4) Monitor: In order to enjoy effective use of Tally ERP 9, a monitor having resolution of 1024 x 768 or higher is recommended.
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3. About ICAI
The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, (Act No. XXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its more than five decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the whole world.

ICAI has its Headquarters at New Delhi with 5 Regional Offices at Mumbai, Chennai, Kanpur, Kolkata, New Delhi and 114 branches spread all over the country. In addition, it has also set up 18 chapters outside India and an office in Dubai.

Currently over 350,000 students are pursuing the Chartered Accountancy course and the total membership of ICAI is about 139,841. Out of the total members, nearly 55% are in Practice and the rest are in employment among the members in government, industry, banks, financial institutions, private enterprises etc.

A significant number of members occupy eminent positions in their respective organizations such as Chairman of regulatory body, Chairperson of banks and insurance companies, Chairperson & Managing Directors of reputed enterprises, Executive Directors of innumerable enterprises / organizations.

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4. About project
The given project on Tally has been done to show various applications of Tally as accounting software and its usage in the computerized environment. The project herewith contains the details of the company named NAVEEN KUMAR J M LIMITED, indulged in trading of books and mainly the accounting package of the company is Tally and about how the records are been maintained. This company mainly includes the Trading of Electronic Items like TV A/c etc.

1. Trial Balance: This is a statement which shows the debit and credit balances of all the account grouping them into various heads as on the date requirement.

2. Profit and Loss Account: This shows the current period profit/ loss along with the subdivision of expenses and income under different groups of accounts. It gives the Gross Profit / Loss and the Net Profit / Loss. If enabled it has the feature if giving percentage of various items. 3. Balance Sheet:

This is a Statement of Assets and Liabilities as on the date of requirement grouping the items into various heads

4. Cash and Bank Books:

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The cash and the bank books give a detailed look of all the receipts and payment during the year.

5. Cash Flow and Funds Flow Statement: Cash flow and Funds flow statement gives the gross inflow and outflow of the cash and various funds and the resultant net flows. 6. Stock Summary: The inventory record maintenance shows the inflow and outflow of the raw materials, the transfer of the materials purchased to the production department and the sale of the finished goods .Every category of the raw material stock can be found here. 7. Bank Reconciliation: Tally provides the user a facility to reconcile accounts with his bank statement and hence providing the user with information regarding transactions, which havent, been cleared as yet by the bank

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5. Tally Report
TALLY 9 ERP is the worlds best concurrent multi-lingual business accounting and inventory management software. Tally has been designed specifically for Indian business owners, who have always wanted to maintain accounts in an Indian language of your choice. TALLY 9 ERP is so technologically advanced that it can operate in almost all Indian languages concurrently! That means, you can maintain accounts in any Indian language, view it in another and print it in yet another language of your choice.

TALLY 9 ERP empowers business owners to manage business smoothly. Designed keeping in mind the needs of the Indian businessman, it has several key additions in terms of functionalities. You can send separate documents to suppliers, business associates, customers etc., in their language, while maintaining accounts in your language. In effect, you can conveniently transact business across the length and breadth of India. Freedom from dependence on accounting professionals is yet another clear benefit that TALLY 9 ERP enables right from day one! You can let your accountant enter information in any Indian language that he is comfortable with and you can review it in your preferred language at just the click of a button. Backed by the heritage of incredible simplicity, TALLY 9 ERP takes one more significant step towards ensuring that concrete business advantages are realised from accounting on computers.

Following are the some report generated from the tally for ITT project report.

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Purchase Entries with VAT

1.

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2.

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3.

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4.

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Sales Entries with VAT

1.

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2.

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Payment & Receipt Entries.

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Income Expenses & Statutory Entries.

1. Loan from ICICI

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2. Booking Different Expenses in a single voucher.

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3. Journal Entry for rent Expenses with TDS Entries.

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4. Rent Payment Entry.

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5. TDS Payment on rent

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6.

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5.

Income from repairs & Maintenance with service tax.

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Receipt

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9. Service tax payment entry

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10. Making of sales voucher for sales order.

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Adjustment Entries with VAT. 1.

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2. Purchase return

4. Transfer of stock
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5. Sales Return

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Naveen Kumar J M 6. Sales order processing

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6. Making a sales bill for sales order

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7. Making of Purchase order

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Trial Balance (Detailed).

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Profit and Loss Account (Detailed).

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Balance Sheet Normal

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Balance Sheet Detailed

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Balance Sheet - Vertical

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Trial Balance Quarterly

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Profit and Loss Account Half yearly.

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Balance Sheet for Different Months.

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Debtors Ageing

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Creditors Ageing.

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Budget Variance Report Conveniences

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Budget Variance Report Rent.

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Bank Book before Reconciliation

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Bank Book after Reconciliation.

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Day Book from Day 1 to Last Day.

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Stock Summary Report

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Stock Movement Analysis - Samsung 3 Ton A/C.

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Stock Query Report LG 2 ton Split A/C

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Stock Category Report

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Godown Summary Report Stacking Godown.

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VAT Annexure - 1

I.
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VAT Annexure - 2

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VAT Annexure - 3

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VAT Annexure - 4

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Service Tax Payable Report

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Cash Flow Statement

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Fund Flow Statement.

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Cost Centere Break Up.

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Sales Bill Pending.

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Purchase order Pending

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List of Accounts.
List of Ledgers
Branch / Divisions Capital Account Reserves & Surplus Share Holder 1 A40 Share Holder 3 A40 Share Ledger 2 A40 Current Assets Bank Accounts State Bank of India A40 Cash-in-hand Cash Cash A40 Deposits (Asset) Loans & Advances (Asset) Stock-in-hand Sundry Debtors Debtors for Service Income A40 Electronics India Private Limited A40 ITC Limited A40 Debtors - Local A40 Eashwar India Ltd A40 M M Distributors Ltd A40 Debtors-Oversees A40 Vikas Singapore Ltd A40 Current Liabilities Duties & Taxes Service Tax Accounts A40 Service Tax Payable - Audit Consultancy - A40 Service Tax Payable - Repairs Maintainences A40 (Retained Earnings)

25-Nov-2010 to 7-Jul-2011

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TDS Account A40 TDS Payable for Advertisement A40 TDS Payable for Rent A40 VAT Accounts A40 Input VAT 12.5% A40 Input VAT 4% A40 Output VAT 12.5% A40 Output Vat 4% A40 Vat Payable Account A40 Provisions Sundry Creditors Creditor for Expenses A40 JD & Jerry Advertisers A40 L & T Limited A40 Creditors - Local Balaji Electronics Ltd A40 Manikandan Electronics Limited A40 Creditors - Overseas A40 Ever Win Company Limited A40 Direct Expenses Direct Incomes Fixed Assets Furneture & Fittings A40 Land & Building A40 Machineries A40 Indirect Expenses Advertisement Expenses A40 Conveynance Expenses A40 Discount Allowed A40 Electricity Charges A40 Rent Paid A40 Salaries Paid A40 Telephone Expenses A40

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(Expenses (Direct)) (Income (Direct))

(Expenses (Indirect))

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Indirect Incomes Discount Recieved A40 Rent Recieved A40 Investments Investments A/c A40 Loans (Liability) Bank OD A/c Secured Loans Unsecured Loans ICICI Bank A40 Misc. Expenses (ASSET) Purchase Accounts Purchase 12.5% A40 Purchase 4% A40 Sales Accounts Income From Consoltance A40 Income From Repairs & Maintainances A40 Sales 12.5% A40 Sales 4% A40 Suspense A/c Profit & Loss A/c

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(Bank OCC A/c)

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Stock Group Summary

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Stock Items Report

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6. Conclusion

I would like to take this opportunity to thank the ICAI and the faculty of the department of the department of ITT for their valuable support and assistance in enabling me to complete this project on a successful note. Also I believe that my project on Tally complied in partial fulfillment of 100 hours course satisfactorily meet the requirement of department of ITT. Besides, I hereby thank all kind hearts that helped for completion of this project without which this would have not been possible. I also think that the management would have been satisfied with the reports produced as per their need for future decision-making and productive measures. To conclude, I do hope my project satisfies the requirement of the course as it has to me.

Naveen Kumar J M Reg No: SRO0273351 Reg No:A 40

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7. Bibliography Various Websites

www.icai.org

Tally Gold Multi User Auditor Edition. Caclubindia.com

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