Tally interview questions

Tally interview questions

There are a lot of opportunities for Tally candidates as there are many reputed companies in the world who recruit them. Whether you are a fresher or an experienced professional, the level of interview questions might be different as per experience in this field. Today the competition is severe and therefore to get selected for the job, you need to be perfect and confident while giving an interview. So to help you out in this we have provided some Tally interview question and answers, which shall make you confident while facing the panel. Apart from subject knowledge, your various other skills shall also be tested during an interview such as attitude, your approach towards solving the problem and body language thus pay attention to that too.

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Here is a list of Tally interview questions and answers that you must prepare before going for the interview:

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Tally interview questions

 Tally ERP 9 offers the various advantages for any associations:

  • Outstanding Management for better Finance Management
  • Cost/Profit Centers Management for better record maintenance.
  • Creating Invoices of all dealers
  • Budget/Scenario supervision
  • Other features like Printing of checks, and much more.

The group is an assemblage of ledgers of same nature. In any association, working costs like electric bills, phone charge, conveyance charges, and so on are generally incorporated into groups. Ledger based on these costs can be utilized while accounting vouchers are entered. By default, there are 28 Groups in Tally. ERP 9, out of which 15 are Primary Groups and 13 are subgroups.

 It is just like the same as other accounting entry where there is more than one debt, more than one credit, or more than one of the two debits and credits. It is a combination of several basic journal entries.

 Tally is a total Enterprise Resource Planning system with a great grasp of accounting features. Even though it has numerous more center features that a business requires its hold yet in accounting is genuinely exemplary. Consequently, it is known more to account as opposed to some other of its features.

  • Performing all essential accounting capacities
  • Estimating work costing
  • Storing points of interest and managing stock items
  • Managing finance
  • Filing a tax return, profits, and loss, creating a balance sheet, VAT frames, income report, and much more
  • Maintaining budget situations
  • Calculating interest on the amount
  • Managing information over various areas and synchronize it

 Tally ERP 9 is a product that holds its unique simplicity yet offers complete business functionalities, for example, Finance, Inventory, Accounting, Sales, Purchase, Manufacturing, Point of Sales, Costing, Payroll and Branch Management alongside abilities like Statutory Processes.

Depreciation is that the value of an asset which decreases when it is being used.

Following are the types of depreciation:

  • Straight Line Method
  • Recorded Value Method

 To convert information in encrypted form to Tally ERP 9, we can utilize the function of Tally Vault. To utilize Tally Vault, we ought to go to the entryway of Tally and key in F3, at that point we can choose the organization for which we need to encrypt the information. Information will be encrypted to just those systems having a legitimate passcode, and people can see that encrypted information.

 We can utilize the shortcut method by pressing Ctrl+Alt+C on the keyboard to copy content and shortcut Ctrl+Alt+V to paste the copied content.

 Sales Tax is one of the liabilities for the business. Consequently, it will be appeared on the liability side of the balance sheet yet before inserting sales tax in liability we need to have a look where sales tax appears in the trial balancing sheet.

The utilization of a statement of inventory is to see the data of Inventory, which is based on godowns. Following every single detail of things in the stock, alongside carrying on the stock and check the spending varieties v/s forecasts, plans, insights, and so on. Stock in Tally ERP 9 works similarly as its accounting part that concerns showing, modifying and printing of reports.

 Anything which we force and have control right and in future that will return us some financial advantage is known as Assets.

 It is a financial metric that figures the assets accessible to the organization to fund its everyday activities. It is ordinarily calculated by deducting current liabilities from current assets.

 It is a statement, which is prepared when the passbook balance has a difference from the cash book balance.

 Miscellaneous Assets are those assets, which are not covered under the analysis of fixed resources according to accounting standard misc assets which do not appear in the profit and loss account such as preliminary expenses, development expenses, and expenses used on raising of share and debentures.

10. Here are some of the features included in tally ERP9:

  • Credit Limits: The Credit Limit control set for a party ledger won’t be applicable on the sales order. An alert message or warning will pop up on the credit limit, and the client can still redeem the voucher.
  • CST: Even in the easiest format the CST form details entered in the invoice will get printed
  • Excise for Manufacturers: All analysis identified with purchasers and suppliers can be shown in the voucher also day by day stock can be kept up as per date wise, multi-items kinds and Tariff wise
  • Service Tax: Under account vouchers, the taxable sum, taxable percentage, and notification number will appear in the service tax details. Auto adjustment of service tax which is payable should be possible against service tax input credit.
  • Accounting Voucher: another kind of numbering feature is added to the voucher, it guarantees that the voucher is numbered consecutively.