40+ Tally Accountant Interview Questions and Answers

The 3 golden rules of Accounting are: Debit the receiver, Credit the giver, and Account for all transactions.

• Debit the receiver: Increase in assets and decrease in liabilities are debited.

• Credit the giver: Increase in liabilities and decrease in assets are credited.

• Account for all transactions: Every transaction should be recorded in the books of accounts.

To solve problems regarding Tally, one can troubleshoot errors, reconcile accounts, update software, and seek help from Tally support.

• Identify and troubleshoot errors in Tally

• Reconcile accounts to ensure accuracy

• Update Tally software to the latest version

• Seek assistance from Tally support or online forums

• Ensure proper data entry and validation

• Regularly backup Tally data to prevent loss

• Optimize Tally settings for better performance

• Train and educate users on Tally functionaliti...read more

The question is unclear and lacks necessary information.

• The question is poorly worded and difficult to understand.

• It is unclear what is meant by 'accountant section within purshed and celling'.

• The term 'per day celling total' is ambiguous and needs clarification.

• Without more information, it is impossible to provide a meaningful answer.

A ledger is a book or record of financial transactions, while a group is a collection of similar ledger accounts.

• A ledger is a detailed record of individual transactions, such as sales, purchases, and expenses.

• A group is a collection of related ledger accounts, usually classified under a common category or type.

• Ledgers provide a chronological record of transactions, while groups help in organizing and summarizing the ledger accounts.

• For example, a ledger may contain individua...read more

Debtor is a person or entity who owes money to another person or entity. Creditor is a person or entity to whom money is owed.

• Debtor is the one who has taken a loan or credit from a creditor.

• Creditor is the one who has given the loan or credit to the debtor.

• Debtor owes money to the creditor and is liable to pay it back.

• Creditor has the right to collect the money owed by the debtor.

• Examples of debtors include individuals who have taken a personal loan, businesses that have tak...read more

A database management system is a software that allows users to store, organize, and manage data efficiently.

• It provides a structured way to store and retrieve data.

• It ensures data integrity and security.

• It allows multiple users to access and manipulate the data simultaneously.

• It supports querying and reporting functionalities.

• Examples include MySQL, Oracle, Microsoft SQL Server.

Bank Reconciliation is the process of matching and comparing the balance in the bank statement with the company's own records.

• It helps to identify any discrepancies between the two records.

• It ensures that all transactions are recorded accurately.

• It helps to detect any errors or fraud in the bank statement.

• It helps to maintain the accuracy of financial statements.

• Examples: checks that have not cleared the bank, bank fees, interest earned, etc.

Accounting is the process of recording, summarizing, and analyzing financial transactions of a business.

• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It includes summarizing these transactions into financial statements like balance sheets and income statements.

• Accounting also involves analyzing financial data to provide insights and make informed business decisions.

• Examples of accounting tasks include bookkeeping, preparing tax re...read more

Debit and Credit are the two fundamental concepts in accounting used to record financial transactions.

• Debit refers to the left side of an account and represents an increase in assets or a decrease in liabilities or equity.

• Credit refers to the right side of an account and represents a decrease in assets or an increase in liabilities or equity.

• Every transaction must have an equal debit and credit amount to maintain the balance sheet equation.

• For example, when a company purchase...read more

The balance sheet in Tally is a financial statement that provides a snapshot of a company's financial position at a specific point in time.

• It shows the company's assets, liabilities, and shareholders' equity.

• Assets include cash, accounts receivable, inventory, and property.

• Liabilities include loans, accounts payable, and accrued expenses.

• Shareholders' equity represents the company's net worth.

• The balance sheet follows the accounting equation: Assets = Liabilities + Shareholde...read more

Book-keeping is the process of recording financial transactions and maintaining financial records.

• It involves recording all financial transactions of a business

• It helps in maintaining accurate financial records

• It includes tasks like recording sales, purchases, payments, receipts, etc.

• Book-keeping is the foundation of accounting

• Examples of book-keeping include maintaining a cash book, ledger, and trial balance

A table of quarries is a database table that stores information about quarries, including their location, production, and other relevant details.

• A table of quarries is used in the field of mining and construction to manage and track information about different quarries.

• It typically includes columns for quarry name, location, type of material extracted, production capacity, and other relevant data.

• The table can be used to generate reports, analyze production trends, and make i...read more

An invoice is a request for payment while a bill is a statement of what is owed.

• An invoice is sent before payment is made while a bill is sent after goods or services have been provided.

• Invoices are usually more detailed than bills, including itemized lists of goods or services provided and their costs.

• Bills may include late fees or interest charges if payment is not made by a certain date.

• Examples of invoices include bills from suppliers or contractors, while examples of bil...read more

A pivot table is a data summarization tool used in spreadsheet programs like Excel. It allows users to reorganize and summarize large amounts of data.

• Pivot tables are used to analyze and summarize data from a larger dataset.

• They allow users to group and categorize data based on different criteria.

• Pivot tables can perform calculations and create custom formulas.

• They provide a visual representation of data through charts and graphs.

• Pivot tables are dynamic and can be easily upd...read more

The number of GST in a business depends on the number of goods and services being provided.

• The number of GST in a business is determined by the number of goods and services being provided.

• Each product or service that attracts GST is counted as one GST.

• Different rates of GST may apply to different goods and services.

• For example, if a business sells 10 different products, each attracting GST, then there would be 10 GST in the business.

Sales returns are the goods or products that customers return to the seller due to various reasons.

• Sales returns are recorded as a reduction in sales revenue.

• They are typically caused by customer dissatisfaction, product defects, or incorrect shipments.

• Sales returns are usually accompanied by a credit memo or a refund to the customer.

• They can be categorized as either merchandise returns or non-merchandise returns.

• Merchandise returns involve returning physical goods, while non...read more

Yes, I have completed the Tally course.

• Yes, I have successfully completed the Tally course.

• I have gained a comprehensive understanding of Tally software and its functionalities.

• I am proficient in using Tally for various accounting tasks such as recording transactions, generating financial reports, and managing inventory.

• I have hands-on experience in implementing Tally in real-world accounting scenarios.

• I am familiar with Tally's features like GST compliance, payroll managemen...read more

A data system is a structured and organized collection of data that is used to store, manage, and analyze information.

• A data system typically includes hardware, software, and databases.

• It allows for the efficient storage, retrieval, and manipulation of data.

• Examples of data systems include relational databases, data warehouses, and content management systems.

By presenting logical arguments, providing evidence, and appealing to emotions.

• Use logical reasoning to explain the benefits or advantages of your proposal.

• Provide evidence or data to support your claims.

• Appeal to emotions by highlighting the positive impact or outcomes of your suggestion.

• Listen to the concerns of others and address them respectfully.

• Build trust and credibility by being knowledgeable and reliable.

• Use storytelling to make your points more relatable and memorab...read more

Vochars is not a commonly used term in accounting. It may be a misspelling of vouchers.

• The correct term is vouchers, which are documents that provide evidence of a transaction

• Vouchers can be used for various purposes such as recording expenses, making payments, or receiving payments

• They typically include information such as the date, amount, description, and account codes

• Vouchers can be in paper or electronic form

• Examples of vouchers include invoices, receipts, and purchase o...read more

Genpact is a global professional services firm specializing in finance and accounting services, including Tally accounting.

• Genpact offers a range of services such as accounts payable, accounts receivable, financial planning and analysis, and Tally accounting

• They provide outsourcing solutions for businesses looking to streamline their finance and accounting processes

• Genpact has a strong reputation for delivering high-quality financial services to clients worldwide

Measurements in Tally Accountant refer to the units used to quantify financial transactions and records.

• Measurements in Tally Accountant include quantities of goods or services bought or sold.

• They also include monetary values such as revenue, expenses, assets, and liabilities.

• Examples of measurements in Tally Accountant are quantities of inventory items, sales amounts, purchase costs, and bank balances.

Technology has greatly impacted the field of accounting, streamlining processes and improving efficiency.

• Technology has automated many manual accounting tasks, such as data entry and calculations.

• Accounting software like Tally has made it easier to track financial transactions and generate reports.

• Cloud-based accounting solutions allow for real-time collaboration and access to financial data from anywhere.

• Technology has enhanced data security and reduced the risk of errors in...read more

An algorithm is a step-by-step procedure or set of rules for solving a problem or accomplishing a task.

• An algorithm is a well-defined computational procedure.

• It consists of a sequence of instructions that are executed in a specific order.

• Algorithms can be represented using flowcharts, pseudocode, or programming languages.

• They are used in various fields, including mathematics, computer science, and finance.

• Examples of algorithms include sorting algorithms (e.g., bubble sort, m...read more

C language is a high-level programming language used for developing software and operating systems.

• C language was developed by Dennis Ritchie at Bell Labs in the 1970s.

• It is a procedural language, allowing step-by-step execution of instructions.

• C language is widely used for system programming, embedded systems, and developing applications.

• It provides low-level access to memory and hardware, making it efficient and powerful.

• C language is the foundation for many other programmi...read more

Programming is the process of creating instructions for a computer to execute tasks and solve problems.

• Programming involves writing code using a programming language.

• It requires logical thinking and problem-solving skills.

• Programs can be created to perform various tasks, such as calculations, data manipulation, and automation.

• Examples of programming languages include Python, Java, and C++.

• Programmers use algorithms and data structures to design efficient solutions.

• Debugging a...read more

Queries are requests for information or clarification.

• Queries are used to obtain specific information or clarification on a particular topic.

• They are commonly used in various fields, including accounting, to gather necessary data.

• Queries can be verbal or written, and they aim to resolve doubts or seek additional details.

• For example, in accounting, a Tally Accountant may raise queries to understand specific transactions or reconcile discrepancies.

Yes, I am proficient in operating Tally ERP.9 and have experience using it for accounting purposes.

• I have extensive experience using Tally ERP.9 for maintaining financial records and generating reports.

• I am familiar with features such as creating vouchers, managing inventory, and generating financial statements.

• I have used Tally ERP.9 to reconcile accounts, track expenses, and prepare tax returns.

• I am comfortable navigating the software interface and troubleshooting any issue...read more

In Tally, developments refer to new features, updates, and improvements made to the software.

• Developments in Tally include new functionalities added to the software.

• Updates to existing features to enhance performance and user experience.

• Improvements in user interface for better navigation and usability.

• Bug fixes to address issues reported by users.

• Integration of new technologies to keep up with industry standards.

• For example, the latest development in Tally may include the in...read more

Vouchers can be created by authorized users in Tally software to record financial transactions.

• Authorized users can create vouchers by selecting the appropriate voucher type (e.g. sales, purchase, payment, receipt, etc.)

• Users need to enter relevant details such as party name, amount, date, and other transaction specifics

• Vouchers should be verified and approved before finalizing to ensure accuracy and compliance with accounting standards

Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.

• Accounting involves recording financial transactions of a business.

• It includes summarizing and analyzing the financial data to provide insights.

• The end goal of accounting is to report the financial information to stakeholders.

• Accounting helps in decision-making, budgeting, and forecasting.

• Examples of accounting tasks include bookkeeping, preparing financial state...read more

Tally is an accounting software widely used for financial management and bookkeeping purposes.

• Tally is a popular accounting software used by businesses to manage their financial transactions.

• It helps in maintaining accurate records of sales, purchases, inventory, and other financial activities.

• Tally provides features like invoicing, tax calculations, bank reconciliation, and financial reporting.

• It is user-friendly and offers customizable options to suit different business nee...read more

Genpact is a global professional services firm specializing in digital transformation, analytics, and process optimization.

• Genpact provides services in areas such as finance and accounting, procurement, supply chain, and customer service.

• The company was founded in 1997 as a business unit of General Electric and later became an independent company.

• Genpact has a presence in over 30 countries and serves clients in various industries including banking, healthcare, and manufacturi...read more

To create a company in Tally, go to the Gateway of Tally, select 'Company Info', then 'Create Company'.

• Open Tally and go to the Gateway of Tally

• Select 'Company Info' from the menu

• Choose 'Create Company'

• Enter the required details such as company name, address, financial year, etc.

• Set up the chart of accounts and other configurations

• Save the company details

A ledger is a book or a computerized record that contains all the financial transactions of a business.

• A ledger is used to record and track all financial transactions, including sales, purchases, expenses, and payments.

• It provides a detailed account of each transaction, including the date, description, and amount.

• Ledgers are organized into different accounts, such as cash, accounts receivable, accounts payable, and inventory.

• Each account in the ledger has a debit and credit s...read more

Golden rules of accounts are basic principles to maintain accurate financial records.

• Debit the receiver, credit the giver

• Debit what comes in, credit what goes out

• Debit all expenses and losses, credit all incomes and gains

Tally is an accounting software used for managing financial transactions and generating reports.

• Tally is used for bookkeeping, inventory management, payroll processing, and tax filing.

• It can generate various financial reports like balance sheet, profit and loss statement, and cash flow statement.

• Tally is widely used in India and other countries for small and medium-sized businesses.

• It has features like data security, multi-currency support, and remote access.

• Tally can be cust...read more

Vouchers are documents that provide evidence of a transaction.

• Vouchers are used to record financial transactions in accounting.

• They contain details such as the date, amount, and purpose of the transaction.

• Examples of vouchers include invoices, receipts, and purchase orders.

To create a ledger, you need to follow specific steps and guidelines to accurately record financial transactions.

• Identify the accounts to be included in the ledger

• Assign each account a unique account number

• Record all transactions in the appropriate accounts

• Balance the accounts at the end of each accounting period

• Ensure accuracy and consistency in recording transactions

To create a Tally account, you need to download and install the software, set up company details, configure settings, and start entering transactions.

• Download and install Tally software from the official website

• Set up company details such as name, address, financial year, etc.

• Configure settings like taxation details, currency, and language preferences

• Start entering transactions like sales, purchases, expenses, etc.

Tally has two types: Tally.ERP 9 and TallyPrime

• Tally.ERP 9 is the older version and has more features

• TallyPrime is the newer version and has a more modern interface

• Both versions are used for accounting and financial management

• TallyPrime has features like customizable reports and advanced search options

Tally full form is 'Tax Accounting and Legal Liabilities Yield'

• Tally is a popular accounting software used for financial transactions

• It helps in managing inventory, payroll, and other accounting functions

• Tally is widely used by businesses to maintain their financial records