Top 50 Tally Interview Questions and Answers 2024

Yes, I have knowledge of Tally and taxation.

• I have experience in using Tally software for accounting purposes.

• I am familiar with various taxation laws and regulations.

• I have prepared and filed tax returns for clients in my previous job.

• I keep myself updated with the latest changes in taxation policies.

• I am comfortable working with GST, VAT, and income tax.

Yes, I have knowledge of Tally and Excel.

• I am proficient in using Tally for maintaining financial records and generating reports.

• I have experience in using Excel for data entry, analysis, and creating spreadsheets.

• I am familiar with functions and formulas in Excel, such as VLOOKUP and SUMIF.

• I can create charts and graphs in Excel to visualize data.

• I have used Tally and Excel in my previous roles to manage accounts and generate financial statements.

The short key in Tally for contra entry is F4 and for bank reconciliation is Alt+R.

• The short key F4 is used for contra entry in Tally.

• The short key Alt+R is used for bank reconciliation in Tally.

• Contra entry is used to record transactions involving cash and bank accounts.

• Bank reconciliation is the process of matching the balances in the company's accounting records with the bank statement.

Tallying work in accounting involves comparing and reconciling financial records to ensure accuracy.

• Tally work involves comparing financial records with source documents.

• Reconcile discrepancies between records and identify errors.

• Ensure accuracy by cross-checking calculations and verifying data.

• Examples: comparing bank statements with transaction records, reconciling sales invoices with customer payments.

Tally and Zoho are both accounting software, but they have differences in terms of features, pricing, and user experience.

• Tally is a popular accounting software primarily used in India, while Zoho is a cloud-based accounting software used globally.

• Tally offers comprehensive accounting features like inventory management, payroll, and taxation, whereas Zoho focuses more on small and medium-sized businesses with features like invoicing, expense tracking, and bank reconciliation....read more

Tally is a software used for accounting purposes to record financial transactions and generate reports.

• Tally involves creating ledgers for different accounts such as sales, purchases, expenses, etc.

• Transactions are entered into the system and categorized under appropriate ledgers.

• The software automatically updates the balances of each account based on the transactions entered.

• Tally can generate various financial reports like balance sheet, profit and loss statement, and cash ...read more

Tally basics refer to the fundamental features and functions of the Tally software used for accounting and financial management.

• Tally basics include creating and maintaining company data, recording transactions, generating reports, and managing accounts.

• Users can enter vouchers, reconcile bank statements, and track inventory using Tally software.

• Tally also offers features for taxation, payroll management, and budgeting.

• Understanding Tally basics is essential for efficient fin...read more

Yes, I have knowledge of GST and Tally. I am proficient in handling GST compliance and using Tally for accounting purposes.

• Proficient in handling GST compliance

• Experienced in using Tally for accounting purposes

• Knowledge of GST regulations and procedures

• Ability to generate GST reports and filings

• Familiar with Tally features such as ledger management and financial statements

I am highly efficient in using Tally for accounting purposes.

• Proficient in data entry and reconciliation in Tally software

• Able to generate financial reports and analyze data accurately

• Experience in setting up and customizing Tally accounts for specific business needs

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

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

• It has features like automatic calculation of taxes, bank reconciliation, and invoice generation.

• Tally also provides real-time financial reports like balance sheet, profit and loss statement, and cash flow statement.

• It can be customized to suit the specific needs of a business.

• Tally is widel...read more

Yes, I am familiar with purchase and GRN entry in Tally and have basic knowledge of SAP (MM) module.

• I have experience in creating purchase vouchers and recording GRN in Tally.

• I am aware of the process of creating purchase orders, goods receipt notes, and invoices in SAP (MM) module.

• I have basic knowledge of inventory management and procurement processes in SAP (MM) module.

• I am willing to learn and improve my skills in both Tally and SAP (MM) module.

Invoices can be made in Tally by creating a voucher entry and selecting the appropriate ledger accounts.

• Go to Accounting Vouchers in Tally

• Select the type of voucher (e.g. Sales, Purchase)

• Enter the necessary details such as party name, amount, and tax information

• Select the appropriate ledger accounts for the transaction

• Save the voucher entry

Bank reconciliation in Tally involves matching the bank statement with the company's accounting records.

• Ensure all transactions in Tally match those in the bank statement

• Identify and rectify any discrepancies

• Update Tally with any missing transactions or corrections

• Reconcile closing balances between Tally and bank statement

• Generate reconciliation report for audit trail

Creating a master in Tally involves adding and managing various types of accounts and inventory items.

• To create a master in Tally, go to the Gateway of Tally and select the relevant option from the menu.

• You can create masters for accounts, inventory items, stock groups, godowns, and more.

• Enter the required details for each master, such as name, address, contact information, and opening balances.

• You can also set up groups and sub-groups to organize your masters and make it eas...read more

Entry in Tally involves recording financial transactions accurately and systematically.

• Open Tally software and select the appropriate company

• Choose the relevant voucher type (e.g., sales, purchase, payment, receipt)

• Enter the necessary details such as date, party name, ledger accounts, and amounts

• Verify the accuracy of the entered data

• Save the entry to complete the process

• Examples: Creating a sales entry, recording a payment, entering a purchase transaction

Performing entries in Tally involves recording financial transactions and generating reports.

• Open Tally and select the company for which you want to perform entries

• Choose the appropriate voucher type (e.g. payment, receipt, sales, purchase)

• Enter the details of the transaction such as date, party name, amount, and account head

• Save the entry and repeat for all transactions

• Generate reports such as balance sheet, profit and loss statement, and trial balance

A group in Tally is a collection of ledgers of the same nature.

• Groups are used to classify and organize ledgers.

• Tally provides predefined groups such as Sundry Debtors, Sundry Creditors, etc.

• Users can also create custom groups based on their business needs.

• Groups help in generating reports and analyzing financial data.

• Ledgers can be easily moved from one group to another in Tally.

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.

Profit or loss can be seen in Tally by generating a Profit & Loss statement.

• Navigate to Gateway of Tally

• Go to Display menu

• Select Profit & Loss statement

• View the report to see the profit or loss

• You can also customize the report based on different parameters

To check net profit through Tally, you can generate a Profit & Loss statement.

• Go to Gateway of Tally > Display > Profit & Loss

• Select the appropriate financial year and view the net profit figure

• You can also customize the report to include specific accounts or periods

• Ensure all transactions are correctly entered and categorized for accurate net profit calculation

Sales can be entered in Tally by creating a sales voucher and entering the necessary details.

• Go to Accounting Vouchers in Tally

• Select Sales Voucher

• Enter the customer details, sales amount, and other relevant information

• Save the voucher to record the sales transaction

To open outstanding list in Tally, follow these steps:

• Open Tally and select the company

• Go to Display menu and select Outstanding

• Select the required report from the list

• Press Enter to view the report

To enter ledger posting in Tally, you can use the 'Accounting Vouchers' option.

• Go to 'Accounting Vouchers' in Tally

• Select the type of voucher you want to create (e.g. Payment, Receipt, Contra, Journal)

• Enter the necessary details such as the ledger account, amount, and narration

• Save the voucher to post the entry in the ledger

To delete a company from Tally, you need to open the company you want to delete, go to Company Info menu, and select Delete Company option.

• Open the company you want to delete in Tally

• Go to Company Info menu

• Select Delete Company option

• Confirm the deletion when prompted

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

Tally is an accounting software and MS Office is a suite of productivity applications.

• Tally short keys include F1 for help, F2 for date, F4 for contra voucher, F5 for payment voucher, F6 for receipt voucher, F8 for journal voucher, and F9 for purchase voucher.

• MS Office short keys include Ctrl+C for copy, Ctrl+V for paste, Ctrl+X for cut, Ctrl+B for bold, Ctrl+U for underline, Ctrl+I for italic, and Ctrl+S for save.

• Both Tally and MS Office have many more short keys that can im...read more

Tally is a popular accounting software that has been updated to include GST features.

• Tally allows for easy and accurate GST compliance

• It can generate GST invoices and file GST returns

• Tally also provides real-time GST reports and analysis

• Users can set up GST rates and tax slabs in Tally

• Tally can also handle GST transactions for interstate and intrastate sales

Tally Prime is a software that includes GST features for managing production operations.

• Tally Prime is a popular accounting software used by businesses for managing various operations including production.

• It includes features for handling GST (Goods and Services Tax) calculations and compliance.

• With Tally Prime, production managers can easily track inventory, manage orders, and generate reports for decision-making.

• The software helps streamline production processes and improve...read more

Journal entries in Tally are used to record financial transactions in a systematic manner.

• Journal entries in Tally consist of debit and credit entries to different accounts.

• Each entry should have a narration explaining the transaction.

• Example: Debit cash account and credit sales account for a cash sale transaction.

• Example: Debit rent expense account and credit bank account for rent payment.

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

To print from Tally, use the shortcut Ctrl+P.

• Press Ctrl+P to open the print dialog in Tally.

• Select the desired printer and print settings.

• Click on the 'Print' button to print the document.

• Alternatively, you can also use the menu option 'File' > 'Print' in Tally.

Journal entry in tally is a process of recording financial transactions in the accounting software.

• Journal entry is made for every financial transaction in Tally

• Debit the receiver, credit the giver

• Each entry should have a narration explaining the transaction

• Example: Salary paid to employees - Debit Salary Expense, Credit Bank Account

Books entry in Tally refers to recording financial transactions in Tally software.

• Create a company in Tally

• Create ledgers for all accounts

• Record transactions using vouchers

• View and print reports

• Ensure accuracy and completeness of entries

To enter a purchase bill in Tally, go to the accounting voucher section and select the purchase voucher type.

• Go to accounting vouchers section in Tally

• Select purchase voucher type

• Enter details like supplier name, invoice number, date, items purchased, quantity, rate, etc.

• Save the voucher after entering all details

Billing process in Tally & Finsys software involves creating invoices, recording payments, and generating reports.

• In Tally, you can create sales invoices by entering details like customer name, item details, quantity, rate, etc.

• In Finsys, billing process includes creating sales orders, converting them into invoices, and recording payments received.

• Both software allow for customization of invoice templates and integration with accounting modules for accurate financial reportin...read more

Contra entries in Tally are used to record transactions between cash and bank accounts.

• Contra entries are used to transfer funds between cash and bank accounts.

• To pass a contra entry in Tally, go to 'Gateway of Tally' > 'Accounting Vouchers' > 'F4 Contra'.

• In the contra voucher, select the appropriate cash and bank accounts and enter the amount to be transferred.

• Contra entries are typically used for cash deposits, cash withdrawals, bank transfers, etc.

• For example, if you depos...read more

Tally is a popular accounting software used by accountants to manage financial transactions and generate reports.

• Tally is used for recording and tracking financial transactions.

• It helps in managing accounts payable and accounts receivable.

• Tally can generate various financial reports like balance sheets, profit and loss statements, and cash flow statements.

• It can handle multiple currencies and support inventory management.

• Tally is widely used in businesses across various indus...read more

Recording transactions in Tally or SAP ERP9 involves entering all financial transactions into the software for accurate accounting.

• Ensure all transactions are accurately recorded in the software

• Double check entries to avoid errors

• Use appropriate codes and categories for different types of transactions

• Reconcile accounts regularly to ensure accuracy

• Generate reports to analyze financial data and performance

Yes, I have knowledge of Tally and other accounting software.

• I am proficient in using Tally for maintaining financial records and generating reports.

• I have also worked with other accounting software such as QuickBooks and Xero.

• I am familiar with various features of Tally, such as voucher entry, inventory management, and financial statements.

• I have used Tally to reconcile bank statements, track expenses, and prepare tax returns.

• I am comfortable learning and adapting to new acc...read more

Yes, I am proficient in both Excel and Tally.

• I have used Excel extensively for data analysis and financial modeling.

• I am familiar with Tally's accounting software and have used it for bookkeeping and financial reporting.

• I am comfortable with creating and manipulating spreadsheets, using formulas and functions, and generating reports.

• I am also able to troubleshoot and resolve any issues that may arise while using these programs.

Solving entries in Tally involves recording financial transactions accurately and categorizing them under appropriate heads.

• Ensure all transactions are recorded in Tally

• Categorize transactions under appropriate heads like sales, purchases, expenses, etc.

• Verify accuracy of entries

• Reconcile bank statements with Tally entries

• Generate financial reports like balance sheet, profit and loss statement, etc.

Sales entry in Tally involves recording sales transactions in the accounting software.

• Open Tally software and select the company in which you want to record the sales entry.

• Go to 'Accounting Vouchers' and select 'Sales Voucher'.

• Enter the necessary details such as party name, sales ledger, amount, and tax details.

• Save the voucher to complete the sales entry.

• You can also generate sales reports in Tally to track sales performance.

• Example: To record a cash sale of $100 to ABC Com...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 maintain financial records.

• It helps in managing various accounting tasks such as recording transactions, generating financial statements, and managing inventory.

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

• It offers different modules for different accounting functions like acc...read more

Yes, I am proficient in using Excel and Tally for financial analysis and reporting.

• I have extensive experience in creating financial models and reports in Excel.

• I am skilled in using advanced functions and formulas in Excel for data analysis.

• I am familiar with Tally software and can efficiently manage financial transactions and accounts.

• I have used Excel and Tally in my previous roles to track expenses, create budgets, and generate financial statements.

Sales entry in Tally is a process of recording sales transactions in the accounting software.

• Navigate to the 'Accounting Vouchers' section in Tally

• Select 'Sales Voucher' from the list of voucher types

• Enter details such as date, party name, sales ledger, and amount

• Save the voucher to record the sales entry

Tally accounting is a software used for accounting and financial management.

• Tally is a popular accounting software used by businesses for managing financial transactions.

• It helps in recording and tracking financial data such as sales, purchases, expenses, and more.

• Tally provides features for generating financial reports, managing inventory, and tax compliance.

• It is widely used in India and other countries for its user-friendly interface and robust functionality.

Accounting in Tally involves recording financial transactions, generating reports, and managing accounts.

• Recording financial transactions such as sales, purchases, payments, and receipts

• Generating financial statements like balance sheet, profit and loss statement

• Managing accounts receivable and accounts payable

• Creating and maintaining ledgers for different accounts

• Reconciling bank statements with Tally entries

• Generating various reports for analysis and decision-making

I have experience using billing software like Tally for managing customer accounts and generating invoices.

• I am proficient in using Tally for recording transactions and creating financial reports

• I have used Tally to track customer payments and outstanding balances

• I can generate invoices and receipts using Tally software

• I am familiar with setting up and customizing Tally for specific business needs