About Tally ERP

Tally is a computerized version of accounting. We record debit and credit accounting entries in manual books to keep track of accounts. In India, Tally. ERP 9 is one of the most widely used accounting programs. It's all-in-one enterprise software for small and midsize enterprises. You can't go wrong with Tally.ERP 9 since it combines all the functions, control as well in-built features of customization of a company management system and even GST software into a single package.

Uses of Tally ERP 9

Tally. For business owners and their associates, ERP 9 is a complete product that retains its original simplicity while offering comprehensive business functionalities such as finance, accounting, inventory management, point of sale, manufacturing, payroll, branch management, costing and job costing, and compliance for excise tax, TDS, TCS, and now GST as well!

Benefits of Tally Accounting Software

Previously, the majority of firms used manual accounting practices to keep track of their finances. Accounting software, however, can now accomplish this task thanks to contemporary information technology. Tally is an example of such all-encompassing accounting software. Tally accounting software addresses all of the issues that real-world firms face. All duties necessary for enterprise management are handled by a single piece of software. Tally makes accounting tasks like record keeping, accounts receivable and payable management, and bank reconciliation easier. Tally software simplifies financial management as well. The software enables financial management across many locations, as well as the handling of different currency transactions, cash flow management, and interest payment.

Tally software is so adaptable, reliable, secure, simple to use, and cost-effective.

Conclusion

Tally Prime is Tally's most recent version. There are many things to love about Tally products and Tally Prime takes those qualities to a whole new level of excellence. You may multitask without losing your place, explore and locate products more easily, an invoice with incredible ease, and much more.

Following are some of the multiple choice questions on the Tally ERP with answers that will help the students in developing their knowledge.

Tally ERP MCQ

1. Which option is used to copy company's data into pendrive or CD

  • Backup
  • Restore
  • Split Company Data
  • Copy Data

2. Which of the following user type can view audit list

  • Tally Vault
  • Owner
  • Data Entry
  • Administrator

3. Which option is used to place data taken in pen drive or CD to Appropriate place in Tally

  • Backup
  • Restore
  • Split Company Data
  • None of these

4. Tally package is developed by

  • Peutronics
  • Tally Solutions
  • Coral Softwares
  • Vedika Softwares

5. We can show Bill wise details of Debtors and Creditors by activating

  • Maintain Bill by bill
  • Maintain Bill wise Details
  • Maintain References
  • None of these

6. Party account can be created through

  • Group creation window
  • Ledger creation window
  • Inventory creation window
  • Any one of them

7. How many formats are available while Exporting?

  • 2
  • 3
  • 4
  • 5

8. What is the function of Tally Vault?

  • Ledger account
  • Cost category
  • Company Configuration
  • Security Mechanism

9. TDS deduction entry can be made through

  • Payment Voucher
  • Journal Voucher
  • Receipt Voucher
  • All of these

10. Which option is selected from Company Info Menu to divide company data into two financial years

  • Change Tally Vault
  • Alter
  • Split Company Data
  • New Company

11. Goods returning to a Creditor after challan but before bill we need to pass

  • Debit Note
  • Receipt Note
  • Rejection Out
  • Rejection In

12. Which option is true for viewing Profit & Loss A/C in Gateway of Tally

  • Gateway of Tally > Reports > Profit & Loss A/C
  • Gateway of Tally > Display > Profit & Loss A/C
  • Gateway of Tally > Account Books > Profit & Loss A/C
  • None of these

13. There are ------------- predefined ledgers in Tally

  • One
  • Three
  • Two
  • Four

14. Branch / Division is a group defined under

  • Liabilities
  • Assets
  • Income
  • Expenditure

15. From following which one is the latest version of tally

  • tally 8.1
  • tally 7.2
  • tally 6.3
  • tally 9.0

16. How many types of Measurement Units we can create in Tally

  • 2
  • 3
  • 5
  • Unlimited

17. BOM represents

  • Billing of Machines
  • Bill of Maintenance
  • Bill of Materials
  • None of these

18. What is the utility of Tally Vault Password

  • It will lock the period of Company
  • It will lock all voucher entries for that Company
  • It will not show the Company Name in the Company Select List
  • None of these

19. Where do we record credit purchase of furniture in Tally

  • Purchase
  • Payment
  • Receipt
  • Journal

20. You can start a new financial year by changing the simply pressing ____ from Gateway of Tally.

  • Date (F2)
  • Period (Alt + F2)
  • Cmp Info (Alt + F3)
  • Configure (F12)

21. Which option is used to view Stock Items or Group Summary

  • Accounts Books
  • Inventory Books
  • Statutory Books
  • Display

22. TDS is applied on which of the following incomes?

  • Professional Fee
  • Commission of lottery ticket
  • Salary income
  • All of these

23. We can see Working Capital figure changing

  • Voucher configuration
  • Profit & Loss configuration
  • Balance Sheet configuration
  • Ledger configuration

24. What is tally?

  • it an ERP software to deal business transactions
  • it is a computer software
  • it is a hardware
  • it is a system spftware

25. Find one of the tally advantage

  • accuracy
  • lower cost
  • scope of creativity
  • no need of trained staff

26. Tally offers Toll Free assistance in UAE to its customers at?

  • 800-99999
  • 800-82559 (800-TALLY)
  • 800-11111
  • 800-12559

27. Tally has the advanced management information system

  • disagree
  • agree
  • no idea
  • not related to tally

28. Popular drill-down feature can be accessed by these 2 keys -

  • F11 & F12
  • Enter & Esc
  • Space & Esc
  • Page Up & Page Down

29. Which format of file can be exported from Tally?

  • Excel
  • PDF
  • JPEG
  • All of the above

30. What is the full form of ERP ?

  • Education Resource Enterprise
  • Enterprise Resource Planning
  • Exact Resource Planning
  • Entrepreneurial Resource Planning

31. What is the shortcut key to start calculator?

  • Ctrl+N
  • Ctrl+P
  • Ctrl+S
  • Ctrl+T

32. We can change the Company Information from

  • A Company Info > Back up
  • Company Info > Alter
  • Company Info > Split Company Data
  • None of these

33. Can we use tally in payroll

  • yes
  • no
  • somewhat
  • impossible

34. We can modify an existing Company from

  • Company Info > Alter
  • Company Info > Alter Company
  • Gateway of Tally > Modify Company
  • None of these

35. Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc.

  • Lts
  • Nos
  • Kgs
  • Box

36. Which reports are prepared monthly in Tally?

  • Profit & Loss A/C
  • Balance Sheet
  • Trial Balance
  • Cash Flow of Funds Flow

37. What is the shortcut Key to quit tally?

  • Ctrl+Q
  • Ctrl+L
  • Ctrl+M
  • Ctrl+P

38. Through which we can deal accounting transactions speedily

  • tally erp9
  • spreadsheet accounting
  • pre packaged accounting
  • customized accounting

39. Where do we record transactions of salary, rent or interest paid

  • Contra
  • Journal
  • Receipt
  • Payment

40. Rs.20,000 withdrawn from State Bank. In which voucher type this transaction will be recorded

  • Payment
  • Receipt
  • Contra
  • Post-Dated

41. Which file will you present from Tally, if requested by UAE Tax Authority in case of a VAT audit?

  • FAF (FTA Audit File)
  • Sales & Purchase Transactions
  • Financial Reports
  • VAT 201 Form

42. To hide the name of the Company you need to define

  • Security Control
  • Tally Audit
  • Create at least one User
  • Tally Vault Password

43. Reversing journal is a

  • Conventional Voucher
  • Unconventional Voucher
  • Both (a) and (b)
  • None of these

44. Single Entry mode is applicable for

  • Receipt Voucher
  • Contra Voucher
  • Payment Voucher
  • All of these

45. To see reports of Job Work Analysis

  • Display > Statements of Accounts > Job Work Analysis
  • Display > Job Work In Reports > Job Work Analysis
  • Display > Statements of Accounts> Cost Centre > Job Work Analysis
  • None of these

46. Optional Voucher is one type of

  • Conventional Voucher
  • Unconventional Voucher
  • Both (a) & (b)
  • None of these

47. List of Optional Voucher we can get from

  • Cash Bank Books
  • Exceptional Reports
  • Accounts Books
  • Balance Sheet

48. To create Scenario which option requires to be activated

  • Use Rev Journal & Optional voucher in F12
  • Use Optional voucher in F11
  • Use Reversing voucher in F11
  • Use Rev journal & Optional voucher in F11

49. We can create multiple users in Tally activating

  • Tally Audit
  • Use Security Control
  • Both (a) and (b)
  • None of these

50. 'Allow components list details (Bill of Materials)' option is activated for

  • Ledgers
  • Cost Category
  • Stock Items
  • Budgets

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