Top 40 Tally Interview Questions and Answers

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 reco...read more

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 c...read more

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 c...read more

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 for...read more

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.

• Ta...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 categor...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 accou...read more

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 specif...read more

Tally entries for experienced and freshers in finance and accounts executive role.

• Experienced professionals should have knowledge of advanced Tally entries such as payroll, inventory management, and GST.

• Freshers should have basic knowledge of Tally e...read more

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...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...read more

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 ...read more

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...read more

To purchase entry in Tally, go to the 'Accounting Vouchers' menu and select 'Purchase Voucher'.

• Open Tally and go to 'Accounting Vouchers' menu

• Select 'Purchase Voucher'

• Enter the necessary details such as supplier name, invoice number, date, etc.

• Specif...read more

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, ad...read more

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 para...read more

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 ac...read more

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 ...read more

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 ac...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 code...read more

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 dele...read more

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, prof...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...read more

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 ...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 ...read more

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...read more