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Tally Prime Course Modules

Module 1: Introduction to Tally Prime

Overview of Tally Prime and its features
Installation and setup of Tally Prime
Understanding the Gateway of Tally
Navigation and shortcut keys

Module 2: Basics of Accounting

Introduction to accounting principles and concepts
Types of accounts and Golden Rules of Accounting
Creating and managing ledgers and groups
Recording basic accounting entries

Module 3: Inventory Management

Creating inventory masters (Stock Groups, Categories, Items)
Unit of Measure and Godown management
Recording inventory transactions (Purchase, Sales, Stock Transfers)
Batch-wise and expiry date management

Module 4: GST in Tally Prime

Understanding GST concepts and tax slabs
Configuring GST in Tally Prime
Creating GST-compliant invoices
Filing GST returns and reconciliation

Module 5: Advanced Accounting Features

Cost Centers and Cost Categories
Budgeting and controls
Bank Reconciliation Statement (BRS)
Multi-currency transactions

Module 6: Payroll Management

Configuring payroll in Tally Prime
Setting up employee details and salary structures
Recording payroll transactions
Generating payroll reports

Module 7: Advanced Inventory Features

Bill of Materials (BoM)
Job Costing and Job Work
Price List and Discount Management

Module 8: Data Management and Security

Backup and restore of company data
User and password management
Data synchronization and remote access

Module 9: Reporting in Tally Prime

Generating financial reports (Profit & Loss, Balance Sheet)
GST reports and Tax computation
Inventory and stock analysis reports
Management Information System (MIS) reports

Module 10: Business Decision-Making

Financial analysis and forecasting
Ratio analysis
Scenario management

Module 11: Certification Exam Preparation

Practice tests and assignments
Real-world case studies
Mock certification exam

Additional Resources

Shortcut keys list for efficiency
Real-world case studies
Live project opportunities

Assignment Questions for Practice

1. Company Setup and Configuration
Question: How do you create a new company in Tally Prime? Describe the steps involved and explain the significance of each configuration (e.g., financial year, GST settings, etc.).

2. Ledger Management
Question: Define and explain the difference between a Primary Ledger and a Secondary Ledger. Provide examples of each from a retail business.

3.GST Configuration
Question: Explain how to configure GST in Tally Prime. What are the steps to set GST rates for goods and services in the software?

4.Inventory Management
Question: How would you handle the purchase and sale of stock in Tally Prime? Illustrate with examples of how to record stock transfers between locations.

5.Recording Transactions
Question: How would you record the following transactions in Tally Prime?
1.Purchase of goods worth ₹50,000 with 18% GST.
2.Sale of goods worth ₹60,000 with 12% GST.
3.Payment of ₹5,000 for office rent.

6. Taxation (TDS and GST)
Question: How would you record TDS (Tax Deducted at Source) transactions in Tally Prime? Provide a scenario where TDS is applicable and show the steps involved.

7. Generating Financial Reports
Question: List the steps to generate a Profit and Loss account in Tally Prime. How do you interpret the results in a P&L report for business decision-making?

8. Bank Reconciliation
Question: What is the process for performing bank reconciliation in Tally Prime? How do you match bank statements with Tally entries?

9. Payroll Management
Question: What are the key steps to configure payroll in Tally Prime? Explain the process to generate salary slips for employees.

2. Backup and Data Security
Question: Explain the importance of data backup and security in Tally Prime. How do you create and restore backups? What security features are available in Tally Prime?

Student Projects - These projects and assignments are designed to help students gain hands-on experience in using Tally Prime for accounting, inventory management, taxation, and financial reporting. Here are some example projects and assignment questions that can be part of a Tally Prime course:

Student Project 1: Accounting for a Retail Business

Project Objective: Simulate and manage accounting functions for a retail business using Tally Prime.

Company Setup: Create a company "XYZ Retailers," including GST, Financial Year, and currency settings.
Ledger Setup: Create the necessary ledgers for sales, purchases, expenses, GST, etc.
Inventory Setup Add products and create stock items, categories (e.g., Electronics, Home Goods), and units of measurement.
Transaction Entries:
Record daily transactions (sales, purchases, payments, receipts).
Apply GST rates correctly on invoices.
Generate Reports:
Profit & Loss Statement.
Balance Sheet.
Inventory Report (Stock Summary).
GST Filing: Generate and file GST returns (GSTR-1 and GSTR-3B).

Student Project 2: Payroll Management for a Company

Project Objective: Simulate payroll management and salary processing for a small company using Tally Prime.

Company Setup: Create the company profile and enable payroll features.
Employee Setup:Create employee records, including salary structure (basic, allowances, deductions).
Payroll Calculation: Process monthly payroll for employees (including attendance, leaves, bonuses, and deductions).
Generate Payslips: Generate payslips for all employees with detailed salary breakdown.
Salary Journal Entries:Pass journal entries for salaries, tax deductions, and employee benefit provisions.
Compliance:Process and generate reports for statutory compliance (like Provident Fund, ESI).

Salary Range-

The salary range for professionals who are proficient in Tally Prime can vary based on their job profile, experience, industry, and location. Here’s an overview of the expected salary range for Tally Prime-skilled professionals:

1. Entry-Level (0-2 years of experience)

Job Titles: Accounts Assistant, Junior Accountant, Data Entry Operator.
Salary Range: ₹1.8 LPA to ₹3 LPA (per annum)
1. At the entry level, individuals handle basic tasks like data entry, invoicing, and assisting with ledger management, payroll, and inventory tracking.

2. Mid-Level (2-5 years of experience)

Job Titles: Accountant, Accounts Executive, Payroll Executive.
Salary Range: ₹3 LPA to ₹5 LPA (per annum)
1. Mid-level professionals handle more complex accounting tasks like GST filings, financial reporting, tax calculations (TDS/GST), and managing payroll.

3. Senior-Level (5+ years of experience)

Job Titles: Senior Accountant, Finance Manager, Taxation Consultant.
Salary Range: ₹5 LPA to ₹8 LPA (per annum)
1. At this level, professionals may lead accounting teams, perform advanced financial analysis, ensure tax compliance, and oversee the financial operations of an organization.

4. Freelancers and Consultants

Salary Range: ₹15,000 to ₹50,000+ per month
1. Freelancers or independent consultants skilled in Tally Prime can charge per project or offer monthly accounting services. The income will depend on the number of clients and the complexity of the work.

5. Accounting Software Trainers and Educators

Salary Range: ₹3 LPA to ₹6 LPA (per annum)
1. Trainers who teach Tally Prime in educational institutes or corporate settings can earn a decent salary based on experience and expertise.

Factors Affecting Salary

Industry: Salaries can vary by industry; retail, manufacturing, IT, and finance sectors often pay more for accounting professionals with Tally expertise.
Location: Salaries are typically higher in metropolitan cities like Delhi, Mumbai, Bengaluru, or Hyderabad compared to smaller towns or rural areas.
Company Size: Larger companies or multinational corporations tend to offer higher salaries compared to small businesses or startups.

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Tally Prime Certification Course

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