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Tally Prime With GST

Tally Prime With GST

From Beginning

TallyPrime is a comprehensive business management software widely used for accounting, inventory management, and financial reporting. When integrated with Goods and Services Tax (GST) functionality, TallyPrime simplifies GST compliance, making it an ideal tool for businesses managing tax-related operations. Here's an overview of TallyPrime with GST:

Key Features of TallyPrime with GST & Advance Tally:-

  • GST Setup and Configuration
    • Easy GST Setup: Configure GST rates, tax slabs, and GST registration details based on your business type.
    • State-wise GST Compliance: Manage interstate and intrastate GST compliance seamlessly.
  • GST Billing and Invoicing
    • Automated GST Calculation: Automatically calculates CGST, SGST, and IGST for each transaction based on the nature of supply and location.
    • Customizable GST Invoices: Generate GST-compliant invoices in formats like tax invoices, bill of supply, export invoices, etc.
  • GST Returns Filing
    • GSTR-1 and GSTR-3B Reports: Generate GST returns directly within TallyPrime for filing.
    • Error Detection: Identifies and highlights errors in GST data before filing, ensuring accurate submissions.
  • Reconciliation of GST Data
    • GST Reconciliation: Matches purchase records with supplier filings (GSTR-2A) to ensure consistency.
    • GST Audit Report: Provides detailed audit reports for compliance checks.
  • E-Way Bill Management
    • E-Way Bill Generation: Automatically generates e-way bills for applicable transactions.
    • Integration with GST Portal: Facilitates seamless export of e-way bill data to the GST portal.
  • GST Payment and Adjustments
    • GST Payment Tracking: Tracks payments made toward GST liabilities.
    • Adjustments for ITC (Input Tax Credit): Helps manage and claim ITC based on purchases and GST rules.
  • Multi-Tax Support & Inventory:
    • Support for Multi-Tax Structures: In addition to GST, it supports VAT, excise, and other legacy tax systems for global operations or pre-GST data management.

Benefits of Using TallyPrime with GST & Advance Tally

  • User-Friendly Interface: Intuitive menus and shortcuts simplify GST compliance tasks.
  • Time-Saving Automation: Automates calculations, filing, and report generation.
  • Error Reduction: Prevents human errors in tax computations and filings.
  • Data Security: Ensures the safety of sensitive financial data with robust security features.
  • Real-Time Updates: Automatically updates tax rules and rates as per government notifications.

Who Should Use TallyPrime with GST & Advance Tally?

  • Small and Medium Enterprises (SMEs): For streamlined tax compliance and bookkeeping.
  • Accountants and Tax Consultants: For managing multiple client accounts.
  • Retailers and Wholesalers: To ensure GST-compliant invoicing and inventory tracking.
  • Manufacturers and Exporters: To handle complex GST scenarios like reverse charge and export compliance.

TallyPrime offers a one-stop solution for businesses aiming to comply with GST regulations efficiently while managing their overall financial health.

Level 1 : Basic Tally

FINANCIAL ACCOUNTING

  • Creating A Company, Company Configuration, Creating Ledgers
  • Setting up a Company, Voucher Entry/Payment/Receipt Voucher
  • Contra Entry/Purchase/Sales Register, Viewing Statement Of
  • Accounts, Profit & Loss Account, Balance Sheet
  • Bank Entries, Printing Of Accounts, Display Of Accounts

INVENTORY:

  • Inventory Features, Stock Groups, Stock Items
  • Physical Stock Voucher, Invoicing, Bill/Stock Wise
  • Creating Units Of Measure, Debit/Credit Notes
  • Stock Journal, Physical Stock, Inventory Reports
  • PRINT PREVIEW...etc

PAYROLL :

  • Salary Slip Generation
  • Employee Creation
  • Pay Heads
  • Attendance
  • Auto Fill
  • Salary Slip

GST : GST Setting, Bill With GST, SGST, CGST, IGST, Goods & Services

Duration and Fees

  • Duration: 6 weeks

Level 2 : Advance Tally

  • Factory Account, Price List Setting
  • Profit Setting, Import Data & Export Data
  • GST Reports, P&L And Balance Sheet Adjustment
  • Cost Center Category, Interest Calculation
  • Reorder Process, TDS
  • GSTR1, GSTR2A, GSTR3B
  • Pos (Multiple Currency)
  • Purchase Order Process
  • Sales Order Process
  • Budget & Controll
  • Security & Controll
  • Physical Stock
  • Management Godown [ Transfer Material ]
  • Bank Reoncilation
  • Bank V.P & Restore
  • Memorendom

Benefits to join us

  • 100% Guarantee Result
  • Personal Coaching
  • Interview Preparations
  • Certificate of Course
  • Job assistance

Duration and Fees

  • Duration: 4 weeks

Tally & Advance Tally

  • Duration : 3 Months
...

Can I Get a Free Demo Lecture before joining your Institute?

Yes, Sure. You can attend a Free Demo Lecture.


Can You Provide a Certificate after Training Completion?

Yes, We will Provide ISO 9001:2015, Government Approved Certificate.


Can I Pay Fees through EMI?

Yes, you Can Pay your Fees in EMI options.


Can I get a good Discount in Course Fees?

Yes, you will get a good Discount in One Short Payment Option.


Can any Non IT Students can join your Institute?

Yes,our 50% students are from Non IT Background.


Can I get a Job Placement?

Yes, 100%. We have our own Job Placement Consultancy – My Job Placement.


Is there any Soft skill Training for Job Placement?

Yes, we are providing FREE Spoken English Sessions, Interview Preparation & Mock Round for Interviews.


Can you adjust my Timing for Training Session?

Yes Sure, We arrange Our Batches according College Students & Working Professionals.


Is my Course will run in fix Time duration?

As per our standard Rules, We have decided a fix duration for every courses. But if any student requires a few more time then no problem.


Can you provide an Internship?

Yes, We are providing 15/45 Days Internship & 3 to 12 Months Internship also we are providing with Live Project Training & Job Placement.

General Questions on TallyPrime

What is TallyPrime?

Answer: TallyPrime is an advanced business management software used for accounting, inventory management, payroll, and tax compliance. It provides features like invoicing, reporting, and GST compliance, catering to businesses of all sizes.

What are the main features of TallyPrime?

Some key features include:

  • GST-compliant invoicing.
  • Automated financial and inventory management.
  • E-Way bill generation.
  • Bank reconciliation.
  • Multi-currency and multi-location support.  Real-time reporting and analysis.

GST-Related Questions

How do you configure GST in TallyPrime?

  • Go to Gateway of Tally > Features (F11) > GST.
  • Enable GST and set up GST details like GST registration type, GSTIN, and applicable tax rates for your business.

What types of GST transactions can you manage in TallyPrime?

TallyPrime supports transactions like:

  • Local sales and purchases (CGST and SGST).
  • Interstate sales and purchases (IGST).
  • Reverse charge mechanism (RCM).
  • Exports and SEZ transactions.
  • GST on advances and input tax credit adjustments.

How do you create GST-compliant invoices in TallyPrime?

 

  • Create a sales voucher by going to Gateway of Tally > Vouchers > Sales.
  • Ensure that GST details like HSN code, tax rates, and GSTIN are configured in the ledger.
  • Save the voucher, and TallyPrime will automatically calculate GST and display it in the invoice.

How can TallyPrime help with GST returns?

TallyPrime provides pre-configured reports like GSTR-1 and GSTR-3B. You can:

  • Generate GST returns directly.
  • Verify data using reconciliation tools.
  • Export returns in JSON format for direct upload to the GST portal.

What is the process for GST reconciliation in TallyPrime?

  • Go to Display > GST Reports > GSTR-2A Reconciliation.
  • Import GSTR-2A data from the GST portal.
  • Match supplier details with your purchase records to identify mismatches and rectify them.

Technical Questions

What is the importance of HSN/SAC codes in TallyPrime?

HSN (Harmonized System of Nomenclature) and SAC (Service Accounting Code) are used for categorizing goods and services under GST. In TallyPrime, these codes are linked to items and services for correct tax calculation and GST compliance.

How does TallyPrime handle input tax credit (ITC)?

Answer: TallyPrime tracks input GST paid on purchases and offsets it against output GST liability. It automatically adjusts ITC in GST returns, ensuring accurate tax payments.

How do you generate an e-way bill in TallyPrime?

  • Create a sales invoice and ensure all mandatory e-way bill details like distance, vehicle number, and GSTIN are entered.
  • Export the data to JSON or Excel format.
  • Upload it to the e-way bill portal for generation.

Scenario-Based Questions

How would you handle a reverse charge transaction in TallyPrime?

  • Create a purchase ledger with GST Tax Type: Reverse Charge.
  • Enter the transaction in the purchase voucher and ensure GST is calculated under the reverse charge mechanism.
  • Use the GSTR-3B report to reflect the reverse charge liability and claim ITC.

What would you do if there’s a mismatch in GST reconciliation?

Answer: Use the GSTR-2A Reconciliation report to identify mismatches. Possible actions include:

  • Contacting the supplier to correct their filing.
  • Correcting errors in your purchase entries.
  • Making necessary adjustments in GST returns.>

Functional and Practical Questions

How does TallyPrime manage multi-location GST compliance?

TallyPrime allows users to configure GST for each state separately. It supports multi-location inventory and ensures that the correct GST type (CGST/SGST/IGST) is applied based on the source and destination.

How do you update GST rates in TallyPrime?

  • Navigate to the item or ledger master.
  • Update the new GST rate in the Tax Rate field.
  • Save the changes to apply the new rate to future transactions.

What are the advantages of using TallyPrime for GST compliance?

  • Simplifies GST invoicing and tax calculation.
  • Reduces errors in GST filing.
  • Offers real-time GST insights.
  • Automates reconciliation and ITC adjustments.

Why Join Us?

  • Profesional Trainer
  • Well Structured Courses
  • Flexibility in Timing
  • Easy Fees Installments
  • Reliable Fees Packages
  • 100% Guarantee Result
  • Personal Coaching
  • Interview Preparations
  • Certificate of Course
  • Job assistance
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