Tally Prime Basic to Advance Training 2025

1. Introduction to Course: Welcome to Tel Prime basic to advanced training course. My name is Sad, and I'll be leading you throughout this course. I'm a professional trainer and consultant with over ten years of experience in accounting and business software. So if you are looking to learn Telprime and you are a complete beginner and haven't used this software before, don't worry because we are going to start from very basics, and we will be working on the latest version of TelliPrime. I'll show you the complete process of how you can download and install the software step by step. Everything in this course is explained in simple, easy to follow language, and you don't need any previous experience. In all of our trainings, we use the practical project based method. That means we will not use the software just like you were reading a book or theoretical understanding the functions. Rather, we will work on a practical project in which we will take the sample of the company which has a trading business and they want to implement completely from scratch. And before implementing the software, let's say that they were working manually or they were maintaining their accounts on the spreadsheet. We will take an example on how you can completely implement the accounting system from scratch, which involves creating a new company, which involves configuring a chart of accounts, customers, suppliers, and putting all of their opening balances along with the inventory. So we will go through the complete implementation process, and once all the balances are reconciled with the manual accounting system, we will move on to the day to day transactions where we will learn all the essential functions like how you can book the journal entry, how you can book the sales and purchase invoices, and all the day to day operations. And don't worry. Whenever you are stuck in any particular area, you can just go to the Q&A section and use ask the question feature, and I'll be more than happy to help you. So this might be the only course you need. So with this set, let's start this training. 2. Installing Latest Release of Tally Prime on Laptop: In this video, we are going to see how we can download and install the Telly prime from the Telly solutions official website. So first of all, just go to your favorite browser and open up Google and we will simply write here Telly solutions, so you can get to their official website, which is telslutions.com. I'll just go in here. Now, the latest release of TelPrime by the time you are watching this particular course is 6.0, and we have different options here, but on the right hand side, we have this download option, which we are going to click. So let's click here. And this is Telly prime release 6.0, and you have the download link right here. So I'll click simply on this download button, and the download will start immediately if it doesn't start automatically, and it is showing some message here, you will select Download unverified file because sometimes the browser automatically blocks it just for their security reasons. Now once the download is complete, I'll just click here or you can just click on Show infolder as well, and the setup file will look like this. Just double click here, click yes. It says the application you are trying to install is teleprime and the release is 6.0. The application path where the software will be installed is C program files and teleprime. Now, I prefer to choose the default location. So let's continue with installation and click on Install. The software is installed successfully, and we will start teleprime here. It will take some time to open Now, as soon as the application starts, it automatically picks up the country accounting terminology and the company data path. So if you want to configure any of them, you click on C, and you can change the region from here, just double click here. And let's say that we are in United States. Just double click here. Counting terminology, international. I'll just double click to change it. Teddy is an Indian accounting software, so by Default, the accounting terminology will be used according to India. So if we want to use International One, we will change it from here. The most important thing, however, is the company data. By default, the company data path is set to C users public and Telly prime folder. There we have the data. But the problem is whenever we try to install new windows, usually we don't check C data drive, and that is most vulnerable whenever you are trying to install a new windows. So that's why we need to change this location to some other drive. Just double click here. Just to keep it safe, we will keep it in other Drive. So if you want to go back, just click on up, up, up and up until we see the drives option. Here we will go to Drive. And let's actually manually write it. Define the path. And right here, TeiPrime company datafils something like this, hit Enter. Okay, that's an incorrect name. Now, in this case, I don't have any other drive, rather I have created a new folder that whenever I want to install new windows, I only have C Drive, so I have manually created a folder named Drive. I want to save it there. So let's choose this. And let's see that if I want to manually create a folder, name Ti setup or Ti backup, whether we can create it or not. It automatically shows this message as we press Enter that this telebaup folder does not exist. Do you want to create it? Yes. That's what we want. Click. And that's how the new folder is created. Now all set hit Enter to finally exit from this area. Now, if you want to exit out of this configuration setup, we need to click on except either from the mouse or if you want to use it via a keyboard shortcut, remember that two dashes mean control, hold the Control key, and then press the alphabet which is mentioned here. So Control A. Always two dashes means control. Hold control and press A, and now it shows the except screen. The Teleprime will start the following seingstlck configured to save these seings. Now simply we have A alphabet without any dash, any single dash or double dash. So that means we can simply accept it either by clicking or just pressing the A sign. After accepting, it will take you to this welcome screen where we need to choose a particular license. If you already have a license, you need to activate the new license, reactivate an existing license, or you can try it for free in the educational version. Now, all the features in educational version will be enabled. The only difference is that it is either activated for a limited time period or it has a limited capacity on what dates you are entering the data. So let's say two to three months is restricted, you can enter the data in the dates of first of January till 31st March. But rest of the functions all are activated and for. So that's what we want to access here because we can learn the complete functionality in the educational version is click here. And this will take you to the create company screen, or you need to select a remote company if you already have one, but that we will see later on. So just try this by yourself, and I will see you in the next one. 3. Creating New Company and Altering Existing Comnpany Details in Tally Prime: This video, we are going to see how we can create a new company in Teleprime also, I'll show you that if you have already closed the application, how we can reopen it. I've already closed the application and now I want to reopen it. On the left hand corner, I can see the teleprime logo. That means this is a shortcut on my desktop, double click here to open, and it's now opening up the software. We will continue with the educational mode because that's what we were already working on, and it will again take you to this screen. If you want to create a new company, just click on the first option that is create a company. The company that we will be working on is Eli traders. Now, this company is a car parts trading company. That means they buy the items on wholesale trade and then see that parts. For example, windscreen, headlights, wheel cups, and rear lights. So we are basically considering a scenario that the company was already operating for many years, but they were a small business or they didn't feel the need of maintaining the records in the software. But now, business is expanding, so they are expecting to transfer all the records from the manual accounting registers to the professional accounting software like this one. So basically, they will close the trial balance for the last year, take all the closing balances for all the ledgers, and then make it opening for the coming year, and then make it the opening balance for the current year, which is starting from January 1, 2025. Anyways, the creation screen is pretty simple. As soon as we click on Create Company, it will take us to this area. As we have already seen in the last video that how we can set this data path if you want to store the company's data somewhere else. And after that, let's mention the company name, which is alight traders. Mailing name will be same. You can mention the address or you can leave it blank as well because that's not a compulsory field. And if you are in US, you need to define any kind of state that is applicable. Let's say New York, we can mention any Pincode and other details, but this is very simple information, and also these are not compulsory fields. So we can skip all of this. The base currency symbol is dollars. Formal name is dollar. If you're using this software for some other country, you can change the state and the currency sign will change automatically. For example, if we change the country to UA, automatically, the base currency symbol will be turned to AED, and the formal name will be UA theorem. So that's how you can easily change this according to your country. The financial year beginning from first of January, and the books will begin from the same time period. Sometimes you are maintaining the record or starting the company in the middle of the year. So only in that scenarios, you will consider are different books beginning from date. For example, you are starting the company from scratch on first of June 2025, but the financial year normally begins from first of January till 31st of December. So since the company is starting on that first June date, only then the books beginning from will be changed. But otherwise, in this case, the company is operating for many years, and it's just transferring its record from the manual records to the computerized one, so they are putting the opening balances. So that's where you will put the same date for both of them. Hit Enter, Enter, and finally, you will see the accept screen, hit Enter to accept that. Now this screen will show you that the company is created successfully, enable the features as per your business needs, so it's asking you some further information. Show more features. If you want to click, it will show some more features, enable more features for you. So as soon as we turn it, yes, as you can see here, it has opened many features that you can configure according to your company needs. And again, if you want to show all the features, more than this one, so turn this one on as well, and you will see even more function. So advanced functions like job costing, cost tracking, job order processing. Right now, it is set to no. That means we don't want to enable all of this, maintain payroll. We don't want to enable this, but later on, we will work on these advanced features as well. And again, how we can save all of these changes that we have made. We will simply click on accept or otherwise, if you want to use the short key, it's the double dashes. That means you will hold the Control key and then press A to accept. So Control A is to save like you normally save the Word document as Control S. Same goes here, Control A to accept. And this will take you to the gateway of Teri, which is the main screen of the software. On the left hand side, we have the current period, which is from first of January till 31st of December of the relevant here. The current date is this one, and the company name is this. Date of last entry, no vouchers ended because this is a brand new company. Now, at this point, if you feel that the current period or current date or even the company name needs to be adjusted, you can simply go to the top area of the company. If you want to use this one as a short key, K is with the combination of one dash. That means alternate will be used. One dash means alternate, two dashes means control. Hold the alternate key and press K to access this and click on Alter to just go in here. Here, we see the company alteration screen. That means we can make all of the changes all over again and it will immediately be changed in the main company. Now, for example, it will make the changes immediately if I make the changes here. The company name, let's say, was Illiteraters Private Limited. As soon as press Control A, it will be changed in the name of the company. So this means that whenever we know some further information that we haven't entered at the time of company creation, we can simply go in here and click on Alter. Let's correct the name back to Illiteraders, and we can fill in all of the details later on as we know it, press Control A. So that's how we can create a brand new company in Teleprime. Just try this by yourself, and I will see you in the next one. 4. Learning Tally Shortkeys: Video, we are going to learn about all the shortcut keys in Telly prime. And it's very simple to learn as if all the shortcut keys are mentioned right in front of you. If you notice on the gateway of Tel or the main screen of Tel, as I zoom in, you can see that some of the letters are highlighted in a different color, and that's the short key of it. So to alter, you will press A, to go to chart of accounts, you will press H, to access the vouchers, you will press V to access Dabook, we will press K, and that's the short key of it. So let's try one. For example, I want to go to Chart of Accounts. Let's press H, and as we can see, we are in the masters list of masters means chart of accounts. So see how simple it is. Now we know all the shortcut keys in a second. Similarly, if I want to check some reports, the balance sheet, shortcut key is B, so let's press B, and now we are in the balance sheet. If you want to display some more reports, we need to click on D because D is highlighted as a shortcut key, and we need to access the trial balance. So trial balance short key is Let's press T here. And that's how we can access all the shorteys in teriprime. And as I want to go back from any area, you will press escape to go one step back. Now we are on the main screen. Now, actually we are in the display more reports. As we press escape again, now we are on the main screen. Now, besides this shortkey of the alphabets, we have all the short keys at the top as well, and that is with the combination of a single dash. Now, the single dash means that if you want to access this particular option, need to use a combination with alternate sign for a single dash and control for the double dash. So wherever you see double dash with the letter, that will be used with control shortcut key, and the other one will be used with alternate one. Why? Because this is to differentiate and assign all the shortcut keys throughout the software. As we can see here, the daybook also has K shortcut key, and the company options also has the K shortcut key. So how will we differentiate it? If you press simple K, we will go to the Dabook. If you press and hold alternate key and then press K, we will go to the company options. So because an accounting software has a lot of functions and they are only limited alphabets, that's why we want to assign all the shortcut keys. So we use three combination, one with the alternate, one with the control, and one with a simple alphabetic keys. Finally, we have the simple function keys as well. As you can see here, F one is for help. F three is for company. Let's access F three, press F three here. Sometimes some laptops use the function key button along with the combination of F three. That is to access the list of all the companies. If you want to shut the company or do the company select any other company, you can do it from here. Even you can create a new company, as you can see here right at the top. Now at this point, let me also show you all the short key combinations together. For example, if we click on F three, but on the right hand side in this arrow, it will open up a further menu, one with a simple F three key, one with F three with a dash, and other with F three with two dashes. Everything has different meaning. F three is to access the list of companies F three with a dash means it will be used with alternate key. So alternate F three is to select the list of companies and also take the backup, and some different options are there. And finally, F three with Control key is to shut the company. So Control F three means the company will be shut like this. If you want to re access this company after closing it, like shutting it down, hit Enter, it will open it again after shutting it down. So you can basically see that the process is different, but the short key is same. And also, not only that, as we enter the day two transactions later on in this course, we will access the vouchers, and on the right hand side, you can see that all the software can be easily accessed on the shortcut keys. We have the contra entry shortcut key for F four, we'll go to Contra. F six is forced, F seven is for journal. So basically, the complete tele software can be operated on the short keys. So just practice this by yourself because later on, we will access some more amazing features of the software. So just try this by yourself, and I will see you in the next one. 5. Introduction to Trading Company Project: Video, we are going to see how we can create a new company in telebrime. We've already created the company before, but now we are trying to start a company project. So I'll also explain to you about the business of the company and how we can start this business and transfer all the records here. So the company name is Elite traders, and they are dealing with car parts. That means they buy the car parts, the fragile items like windscreen, headlights, wheel cups, and rear lights. So these are all the special items, you can say, decoration items, and they sell it in the market. So the company was operating for many years, but they didn't feel the need to install a software, but now the business is expanding, so they are planning to manage the accounts in a better way. And that's why we are implementing the teleprime software and transferring all the records. This is a practical scenario how the implementation works. So if you want to do the implementation projects after completing this course, you can do that as well because the basics of the implementation is same. Only the data will be in more quantity or it will be different from this one. So customers, let's say, I have four customers in this example, but you might have 400 customers, but the rules will be same. This point, if the client asks you to transfer all the earlier records as well, or let's say they ask to transfer all the last year records in teleprime, just remember that this is not how implementation works. You will simply ask them to close the last financial year and normally the financial layer close in December. So let's say in December 2024, they will extract all the chart of accounts along with the closing balances, how much they need to receive from all the customers in total and individually as well. Similarly, they will access and gather the data of all the payables for all the vendors together and the simple and separate ones as well. So, for example, from Daniel, we need to pay 50,000 to Daniel Sian, we need to pay 80,000. So in total, we need to pay 130000. Same goes for all the stock. They need to count the stock, they need to value the stock and then extract one single closing balance also along with individual inventory details, how much they have it on what rate and on what total amount. Same goes for all assets, cash, et cetera. So they will extract all the closing trial report. Now, it depends on them how they gather this data. If they want to hire an auditor, accountant, whatever, they will provide you with all of this data, and then you will put this one as the opening balances, and then we can work on the software. So let's say even we are in the middle of March, what we can do is we can backdate and put the January balance and then move forward and entry day to day transactions in the past as well, but not before that. So this is the company scenario where the company is operating already and we just need to transfer or start the business from Genu first on the teleprimecunting software. So we will quickly create a company. And as we can see, the company is already created. If you want to, let's say, delete the company, how we can do that, let's shut the company first. On the right hand side, we have the company options. If we click on this arrow right here at the corner, we have the shut company option. Just click Shut Company and hit Enter if you see the list of the companies. Now to delete this company, we must already have an other company as well. So let's create a new company, and then we will see how we can delete the existing company. So let's say that we want to create a fresh company. On the right hand side, we have the F three option, and there we can use the Create Company option. Now, the company name is Elite traders. Let's name it as Elite trading to make it different. And the state is not applicable right now. Country is United States, which will automatically pick up the base currency and the formal name as well. The financial year will be beginning from first of January, and the books will begin from the same date because like I said, that we are transferring all the records from the manual accounting system to the computerized one. That means the company is already working. The books beginning from will be different only when we are in the middle of the year and we are just starting the business in the middle of the year. Only then books beginning from will be different. Otherwise, it will be the same. Press Control A, how do we note? Because at the bottom, there's except screen. Now, just remember that there is no save option in teprime like all the other softwares. But we press Control S to save in all the other softwares, we have the control A shortcut key. To accept or to save. So A is mentioned here and it's with the double dashes, so all the double dashes is for control. So control combination will be used with A, and that saves the company. It will immediately open up this screen that company is created successfully. If you want to show more features, you need to enable yes, and now we can access all the advanced functions. So for example, if you want to learn about the cost center reporting, interest calculation, batches, price level list, and all the functions that we will see later on, we can access it from here and then press Control A to accept. So that creates your new company. Now the current company is Elite trading. Now, let's see that if you want to delete the earlier company or any of these companies, let's switch to Elite traders first. Let's say this Elite traders. This is the active company now, and now we want to delete the Alli trading company. How we can delete that go to the company section and click on Ali trading. To delete the company, there is no specific short key engine, and that's a security feature because you might not accidentally delete this if you don't know already about it. You don't accidentally click on any key to delete the company. So press alternate D to delete the company, but we need to access this first. So let's access this and then we go to Company and click on Alter, open this. This will open the alteration screen. For example, I want to keep the original name of Elite traders rather than Elite trading. So this is the extra company created. After that, I'll press alternate D. And then it shows to delete the company, it's asking for the confirmation, we'll press and are you sure? Yes, and the company is related. Now we have only one company which is lit traders. So that's how we can create our brand new company and delete the Extra Company in Teleprime. Just try this by yourself, and I will see you in the next one. 6. Understanding The Interface: We are going to learn more about the gateway of Tel or the interface of Tel and how all the things work. Now, to make it very simple, I'll just divide this software in two parts. One is called Masters and other is called transaction. Just remember that anything which is created for the first time is called your masters. Like whatever is created. For example, first time you were creating the ledgers, you were creating chart of accounts. You are creating inventory items, customers, suppliers. All of this, which is created first time is called masters, and all the day to day transactions after that, whether it's sales, purchases, receipts, payments, bad debts, whatever. So all those kind of transactions will be dealt in the transaction section. So these are the basic two areas. One is called masters, one is called transaction. The other area is reports. So all the reports can be found in this area, whether it's balance sheet, profit and loss, stock, summary analysis. And even if you want some more reports to be seen, just click on display more reports or we have the short key right here mentioned in the highlighted blue color, that is D. So as we press D, we have all the accounting reports, accounts books, and all the inventory books as well. In the display reports, if you want to go further, for example, I want to see the account books report, we have the other reports like contra register, payment register, receipt register, and all the other registers and ledgers as well. So that's how we drill down, and if we want to go back to the main menu, you will just press Escape button to get one step back and then press Escape again and escape again. This will take you to the main menu. This is all about the interface of the latest release of Tele prime. Just try this by yourself, explore it by yourself, and I will see you in the next one. 7. Understanding Tally Masters and Single Ledger Creation Mode: This video, we are going to learn how we can enter and create new chart of accounts in Teri Prime. As you can see here, in this particular project, we have a lot of chart of accounts because the company was operating already for many years, and now they are planning to transfer their accounts from the manual accounting system to a computerized accounting system, and that's why they have chosen Telly for that. Like I said, you will ask straightly with your client that you need to close your books for the last year. Now, whenever the books are closed, that means income stament items will not be carried forward because that is the part of retained earnings in the balance sheet. So you will notice here that there is no expenses, there's no income and all the other stuff that is related to profit and loss account. Why? Because sales minus all expenses and cost of sales comes to net profit or net loss, which will be transferred to the retained earnings, which is a part of balance sheet. So that's why it's not there. Now, if you don't have the Retained Earnings concept, you can just simply search it on Google and you will get a short article. That's a very easy concept. So basically, all of these opening balances or opening chart of accounts will be the balance sheet item, whether it's debtors, creditors, stocks, and all the fixed assets and other things. Now, it's very easy to enter all the chart of accounts in ery Prime, but we need to see what we already have, as most of the softwares already have some chart of accounts created, so we need to check first. And also, we need to acknowledge whether we need to separately enter the Control account balance or not. Now what is control account? The control account simply means that whenever you have individual ledgers, whether it's party ledger or inventory items, and all the separate balances, which is maintained as a party is accumulated in one ledger that is called Control account. So in the customers, we have Justin balance. That means from the last year, we need to receive this balance from Justin. This is receivable for us. So 85,000 from Albert, we need to take 30,000, then 65,000 and then 15,000. So altogether, the balance totals is 195,000, which is exactly this balance. So it will accumulate as the debtors or receiv total balance. Same goes for vendor and same goes for stock. As you can see here, if we scroll down a bit, we see the individual vendor details and the inventory details as well, which comes with a total of these ones, that is control account. So before entering all of this, let's just revise our points. The first point is at opening position of chart of accounts. Only balance sheet ledgers are included. Profit and loss is closed as retained earnings, right? And the next point is the party or individual ledgers will automatically be transferred as control account balance, so we don't need to enter that. Okay? So that means we will skip the debtors balances, we will skip the creditors' balances and stock balance as well. Why? Because the party and individual ledges will automatically be transferred as control account. That means when we go to the stage where we create the customers and put their balance, it will automatically accumulate here and put the total balance right here. So that's how the system works. So this means we need to skip this one, debtors Balance, creditors balance, and stock. We need to skip these ones. And we will start from here, building at cost, which is 750,000. Let's see how we can create this. So we need to create a new account of building at cost, or otherwise, we need to check whether we already have some chart of accounts or no. So in teleprime, I'll firstly not go to create rather we'll go to chart of accounts, and from chart of accounts, we'll check ledges. So we have the major categories, but not the individual ledgers. We only have the case ledger right here. These all that is in the bold format is the categories, or you can say the groups. It's not the ledgers. Group means nature of account. You can even further define the nature of account. Like in the assets comes the current asset and fixed assets. Under the deposits, there comes long term deposits or short term deposits, something like that. So these are related to groups. That is the subcategories of the nature of accounts, the basic five nature of accounts, which is asset liability, equity, income and expenses, right? So we need to take ledgers. We only have one, so we need to create all of them. Now, if you want to go back, like I said, press Escape every time, that should take you to the main screen. And from here, we will create our first Master account. Click on Create, and this one we want to create is ledger. Let's select that. Hit Enter. In the legurename, let's mention the name which is building at cost. So we can simply select this one and just highlight this one copy and paste it in name, Control V, hit Enter. I've prepared this document for you so that you can read. So that's your task to read it completely because that explains what Alias is. Alas is basically the field allows you to determine the alternate name for the ledger. So basically, this can be helpful for all the short names or codes for faster data entry. That means that if you want to define some code like one double 01 is for building at cost, you can use that as well. Also, it can handle multiple names. For example, account receiv for ABC traders. So you can write that, and it can also avoid confusion when different users refer to the same account differently. For example, some people call the ledger account receivable and some call it debtors, so it can be used as an alternate name or a nickname. But right now in our assignment, we don't have the Alias or alternate names, so I'll keep it as it is. Now, under means nature of account. I'll simply select the nature of account that is most closely linked to the actual letters that I'm creating. So if this one is closely related to the fixed asset, I'll categorize it as fixed asset. Here it is, ender. Mailing name, address, all can be entered later on. So I'll keep it as it is state country, all as it is. Provide the bank details. We don't have it yet. Provide the bank details. We will not enter it for building at cost. And the opening balance as of first of January is 750,000. So 750,000, it will automatically recommend it as debit balance because fixed asset by default nature is debit, and you also see the summary of it right here. Hit Enter, and it will ask you to accept either we gain press Y or otherwise enter again to accept. So that's how the first ledger is created. Now if you want to check this ledger, press Escape. Press Escape again, Escape. And now we can go to the alter area, go to the ledgers, and here we can check all the list of ledges that is created in Telly. If you want to check the reports along with the balance, we need to skip back to the gateway of Tel by pressing Escape. Once we are in here, we can check the balance sheet if you want to, and 750000 in the fixed assets is right here. Double click to drill it down to see the details of it. Double click. Building at cost 750000. That's how we can create the ledgers in tele prime. Just try this by yourself, and I will see you in the next one. 8. How to Delete a Ledger in Tally Prime: Video, we are going to see how we can delete any existing ledger if we have not put the balances in any of the ledger yet, because that's the most important thing. If you have created the ledger and you have also done some transactions in it, it's more difficult to delete the ledger because it will ask you to delete the transaction first, and then the ledger should be deleted. So right now, we have just created the company and create a couple of ledgers without putting the opening balances. In fact, in one ledger, we have put the opening balances, but the one that exist by default, we need to delete that, and that is cache letter because when we create a new company in Deli, only one ledger is created in the chart of accounts, and that is case. But to avoid the confusion, we will delete even that. From the gateway of Deli just click on Alter and go to ledger, hit Enter, and this one is cache ledger that we want to delete. First of all, we need to open that. Once it is open in front of you, hold the alternate key and press D. You have the short key right here as well. With a single dash, that means you need to hold the alternate key. And what is the short key? D. So alternate plus D, and hit, Enter again, and that's how we delete any of the ledger in Dei prime. So just try this by yourself, and I will see you in the next one. 9. Entering Ledgers From Multi ledger Creation Mode: With you, we are going to see how we can create the multiple ledgers in Teri Prime. As we can see here in this project, we have a lot of chart of accounts. So we have already skipped because that was control account. That means that when we enter all the party accounts along with their balances for all the customers, individual balances should be automatically updated in the control accounts. So that's what we do for Doris creditors in stock. Building at cost, we have created from a single ledger equation. But as we all know that it will take a lot of time to create all the ledges one by one. So instead, we want a simple screen on a single page where we enter all of these ledgers and put their balances along with the nature of accounts. So how we can create the multiple ledges, it's very simple. From the master section, we will click on the chart of accounts, and under the chart of accounts, we want to create ledger, right? We don't want to create groups because groups means nature of account further explanations. Like account receivable for the East zone west zone. So you can create the zones group if you want to, but that will be a subcategory of the nature of accounts. So I'll just simply need the ledger of accounts to be created. So click on the ledgers, and we only see the groups here or the list of ledgers here. But on the right hand side, we see this multiple Masters account, and that's what we want. The short key is H, but it is used with a single dash. So what we will press along with it, yes, we will press alternate, hold alternate, and then press H to go to the masters. And from here, as you can see, list of multiple masters. You can multi create. You can even multi alter, and you can change the credit limits for all as well. So multi create, I'll just click here, and this should take us to the multi ledger creation mode where we will enter all the ledgers on a single page. Now, since all the ledgers have different nature of accounts, so that's why we will not specify the group here. Hit Enter under all items, I'll keep it as it is. The name of ledger. The buildings at cost is already entered accumulated depreciation of buildings. I'll just copy this, paste it right here. Sometimes you need to press and hold Control Alt in V to paste, but that was for the predecessors version of Telly. In this version, it's not the case. You can simply copy and paste it by using Control V. Hit Enter. And this is the tra acid. It's a fixed acid and it's a tra fixed acid. Now, if you don't know about the concept of accumulated depreciation of buildings, I've compiled this particular document for you to explain what is accumulated depreciation. The nature of it is fixed acid, but it is a contra acid. It's mentioned right here with example. I want you to read this and we will choose the fixed asset nature, just write F in the under category and choose fixed asset. In the opening balances, I'll just copy and piece the balance right here, which is 80,000. Now since Bdfault nature of fixed acid is debit, as soon as I press enter in the opening balances, it will Bdfault show debit. But since this is a contra asset, that means it will be on the opposite side, press C, hit enter, it will turn it to credit. Just make sure before confirming that accumulated depreciation and the under category opening balances are fine, and you put it on the credit side. Same goes for next one, which is motor vehicles. I'll just copy the name. Past right here. Now the process will be very fast. Fixed asset is the nature, press tab, and the total balance is 380,000. I'll just copy this past right here, hit debit, hit Enter, accumulated depreciation of motor vehicles is the next. Hit ender, choose the fixed asset. And since this is a contra asset, although we will just copy and paste the balance right here, but as soon as we paste here, we have to change the nature side that it is a contra acid, so it should be on the credit side, although it's fixed acid, so that's accumulated deposition. Next one we have is machinery. Just copy that. Piece it right here. It's a fixed acid, hit Enter. And the balance is 290,000 on the debit side. Let's go to the next line. Next one we have is accumulated depreciation of machinery, again, a fixed asset with a contra asset balance, like 58,000 on the negative or credit side. Next one we have is cash. Paste it right here. Now, we have the nature of accounts for both of them. The bank account and cash in hand. Most of the software only support either bank or cash, but since the case in hand is most closely linked to this one, I'll choose case in hand. Make sure before you save this, you need to delete the existing ledger that you get with the creation of company. That is the only ledger which is cash ledger automatically created. If you are facing some problem of duplicate ledger, you can write case and had name and then later on delete the extra cash account. But I'll keep it as it is because I have already deleted that. So the balance is 694730, and that's on the debit side. Press Enter. The next one is standard Charter Bank, and like I said, I just need to copy and paste it right here, and we don't need to change the screen because we will link it to the most closely related group that is bank accounts right here. So there's a separate category for cash in hand and for bank accounts. The balance, you will just copy and paste this one paste it right here. Make sure you copy it without the spaces. Hit Enter because it's showing debit. Just make sure that it is showing debit or credit correctly or not. Hit Enter. Next one is United Bank limited. Just copy and paste the balance a year, and it's bank account. The balance is 350,000 on the debit side. Next one we have is accrued expenses. Just copy and paste that, and it comes under current liabilities. And the balance is 53,000. Make sure it's on the credit side. Current liabilities nature is credit, hit Enter. And the last one we have is capital invested, but we'll call it net owners equity, net owners equity, hit Enter, and that is capital account. The balance is 4396 730, and it's on the credit side. Press Control A to accept A with double dashes is the short key, Control A, and if you want to check all the balances, along with the ledgers, we need to go back and to check the ledgers, we will go to the masters, click on Alter, and you can select ledgers. Here you see all the list of letters. But if you want to see the trial balance, along with the ledgers and balances, here's what you can do. In the report section, I'll just go to display more reports and click on Trial Balance. It's showing the summary of each group. But if you want to see the details, we'll just press Alternate F one to see the details. And as we can see, all the ledgers along with the balances are there. So that's how we enter all the ledgers along with the opening balances from the multiple ledges creation option. Just try this by yourself, and I will see you in the next one. 10. How to Edit Multiple Ledgers in Tally Prime: Video, we are going to see how we can view the already entered ledgers along with the opening balances like we have entered in the last video. We have entered all the ledgers along with the balances, but if you want to see the ledger retails, how we can see that, and if we want to completely see and alter some of the balances or some of the nature of accounts, and we want to see the same screen from where we entered it earlier, how we can do that. Let's see. So from the masters, we will go to the alter button. And if you just want to see the ledger details, we will just go to the accounting masters, and under the accounting masters, we will click on ledgers. Now here we will see the list of ledgers, but we cannot see the balance or the nature of account here. So if you want to see any individual ledger details, we can enter that, and this is the single entry mode where we are in the ledger or deration mode, as you can see here on the left. So we can change the nature of account. We can change the balances, and if there is any mistake with it, we can correct that. But what if we want to see all the ledgers together along with the balances? For that, we want to go to the same area that is chart of accounts under the Masters area. Just click on the chart of accounts, hit Enter and select ledgers. Once we are in the ledgers, we see only the list of ledgers on our left. But if we click on multiple masters, we can click on multi alter, and then we click on all items. So not only we can see the same screen from where we entered all the ledges, but if you want to make the corrections in any of the name of the ledger or the nature of account or even the opening balances, we can do it right at one place, and we can also continue adding more. So let's say that if you just entered some ledgers for the day and you kept a rest for the next day, you can continue it from here as well. So this is a very important area that you need to check. So just try this by yourself, and I will see you in the next one. 11. Entering Customers and Vendors With Control Account Opening Balances: Video, we're going to see how we can create the customers in Tele prime and also enter their opening balances, as you can see here. According to our assignment, we had some customers from the last year, which are due to receive money. We want to receive money from them. So these are some of the receivables that they had. We already know that these debtors is the total balance of 195,000, which is the breakup of this one. So like I said, we just need to enter all the customers and put their balances, and this ledger should automatically compile the balance. So that's why when we entered all the ledgers, along with the balances, we didn't enter this balance. Same goes for creditors and for stock. We have the vendors along with the individual balance of each, and same goes for inventory where we have all the individual inventory items that makes up the total of this one. So we have left all of these because these are controller comes, right? But before actually entering this, I want to go to the main area that is gateway of deli, and let's explore what do we have in the trial balance as a balance? Because some of the balances are still missing, right? So we want to see what position does it show. So display more reports, and let's assess trial balance. As you can see, this is group wise detail, but if you want to see the full details along with the individual ledgers, you want to press alternate F one. That shows the individual ledgers details as well, and there is a difference in opening balance on the debit side that is 518 triple zero. Now, what is this difference? Let's see. First of all, we didn't enter 195,000 and we didn't enter the stock balance as well. So let's actually calculate this 195,000 plus 453,000. On the debit side, we didn't enter 648,000 of balance minus on the credit side, we didn't enter 130000. So this makes it Rule 2518000, which is exactly this balance right here. That's why it's showing the difference. Now that we know the difference, let's enter and see how we can enter the customers along with the balances. If you want to create multiple customers together at one place, we need to go to Chart of Accounts instead of Create option. Just go to the start of accounts and ledgers, and we will go to the same area which is multiple masters. Just go in here and since we want to create them, multi create is the option. We keep this one to all items and hit Enter. Now the first customer name is, I'll just copy it from here and paste it right here. This is Justin. And there are a lot of nature of accounts, but we will link it to the most close one, although we can put it in current assets, but we must have a separate area for the receivables, and that is Sunday Deters. This is the old name used for account receiv, so Tele Prime still follows this one. When we hit Enter, we go to the opening balance area. Just remember that whenever you want to come back, you want to press the backspace button and it will take you to the last column. Now, if you want to edit this nature of account to the latest name that is used for the presentation of accounts in the reporting, it shows as account receivable. It should show as account receivable. Rather than Sunday dators, I want to edit this so we don't need to go back and from the masters go all over again, we can enter in the editing mode directly from here. And that's the power of teleprime that you can access and edit directly from a single area. We want to press Control or hold control, and then press Enter, which will take you to the group alteration mode, as you can see on your left. So this is Sunday editors. I'm going to change the name. That's not a problem. Accounts. Receiv Make it the latest name, and it comes under current asset. That means, although it's a current asset, it is the subcategory name which is account receivable. So group behaves like a sub ledger, that's true, and all the other settings, I'll keep it as it is. Don't change anything. Press Control A to save because Control A in Ty prime means Control S or save like you normally see in other softwares. Control A is for Ty. As for except, Control A. Now the latest name is account receivable. 85,000 is the first balance, hit enter, and it's already debit. That's correct. If you have a bill wise breakup, that means from the last year, you exactly know against which these balances are build up. Let's say we have three bill spending, we can specify here as well. But normally at the opening balances point, there's no specific couple of invoices. If it is, you can mention here, but otherwise, it's a buildup of many invoices at the background. So we will ignore this hit Enter, hit Enter again, and that should take you to the main screen. Next customer is this one, just paste that. And as you can see, now the account receivable is the latest name. I'll use that. 30,000 is the balance, paste it right here. It's a debit. Hit Enter. And the next one we have is Victor. Let's paste that account receivable. The total balance is 65,000 on debit side. Ignore that. Hit Enter, and the next one we have is Walter. Hit Enter, account receivable, and 15,000 as a debit. Now it's your choice. You can continue with entering the vendors in the same way. Because it will save you a lot of time, hit Enter because the procedure is same, I'll just continue with it. Let's enter the vendor details now. Daniel is the name, and it comes under Sundry creditors. Again, when we hit Enter, we go to the next column. But if you want to go back, press the backspace and hit Control Enter to edit that and we will change this name to accounts payable. Rest all same. It comes under the current liability. That means it is a subcategory of it, press Control A, balance we have is 50,000 as a credit because account payable is a liability, so it's credit. Hit Enter, ignore this one as a bill wise breakup. And the next one is San. Hit Enter, it comes under accounts payable. Now we have the latest name. And the balance is 80,000 as a credit. So all done in a single page and in a single area, we entered both the customers and vendors, so it has saved you a lot of time, press Control A, and that's how simple it is to enter the customers and the vendor balances now that we have finalized and enter the balances. Let's go to display more reports and access the trial balance to see the actual position of it. Let's hit detail alternate F one is for the detail. That we can see and specify each ledger. Accounts payable total balance is 130000. Let's check it. Yes, it is. And on the account receivable, sorry, this is accounts payable. On the accounts receivable, we have 195,000. And on the accounts payable, we have 130000. So that's good, but we still have the difference in opening balance. Why is that? Because 453,000 is for the stock. So in the next video, we are going to see how we can enter the inventory items along with the opening balances in Teleprime. So just try this by yourself, and I will see you in the next one. 12. Inventory Creation With Opening Balances from Single Item Creation Mode: With you, we are going to see how we can enter all the inventory items along with the opening balances here in Teri prime. As you can see here in our assignment, we have entered all the ledgers along with the balances, but only stock we didn't enter that in the ledger. Why? Because this is a control account. We will not enter the control account balance as a whole. But instead, what we will do is we will create all the inventory items and put their quantity and rate. Which will total up to each individual inventory total, which will ultimately make the total that will be automatically transferred to Control account. So that's the process, but don't worry. It's very simple. First of all, wherever you are, just press Escape and escape to go in gateway of Deli. From here, we want to create something. So anything which is created for the first time is your masters, so create. And now we want to create inventory masters. So we have three things here. One is stock group, which is the subcategory of the inventory items. For example, we have all the inventory items, but my inventory items are related to Cara windscreen, Civic headlights and all the other stuff. So that can be called car parts. The stock category can be called decoration items or mechanical items, something like that, and the stock item is the actual item which we will be creating. Let's say that I just went to the stock item directly. Here is the single creation mode where we can individually enter all the inventory items. We will specify the category and the unit for it, and then we enter all the details. Let me just show you how we can enter on the single item creation mode, and then we will see the multiple ones as well. So the first item we have is Caroul windscreen. Copy that and paste it right here. Control V. I should come under the group of car parts. But don't worry if you haven't already created a group, we can directly create from here as well, and that's the power of teleprime. You can access any area from anywhere. So if you haven't created it, we can create alternate C. Hold the alternate key and press C. This will take you to the stock group creation mode, and it's mentioned in the bracket that it is from the secondary mode. That means you haven't accessed it from the main area. You have accessed it from the other area. So that's why it's mentioned secondary. So this is car parts. And this comes under primary. There's no major category above that. Should the quantity of items be added, I'll select, yes, except, and this is defined. Now the unit of M is not applicable or not there, but we have the create option as well. We can also access it from short key, alternate C. Now, the type can be two types. There is a simple type and the compound type. If we select the compound type, compound means in one liter, there's 1,000 milliliters, and in one Kg there's 1,000 grams. You can specify the bigger unit and the smaller unit and build the relation between the two. But in the simple, we have the simple each pieces, boxes, something like that. So we will choose simple and the symbol will be EA, the formal name will be each because our items are bigger items, windscreen headlights, it's always sold in pieces or each. Now, the number of decimal places, just remember that whenever you are selling in bigger units like each or pieces, there will be zero decimal places because you can sell either one or two, you cannot sell or buy 1.5. As soon as you enter it, either you can press Enter to finally see the accept screen or press Control A to save. Statutory details or rate of duty, we will enter it later on. Hit Enter, and this should take you to this area finally that needs to be entered as a quantity rate, and this will build up a total value. So our total quantity is 470 for Cola windscreen, the rate is 400 and this makes the total to 188,000. Just make sure the totals are correct, and then you can press Control A to save. Now, our first item is created along with the opening balances. But if you want to see how the multiple items created, we will move to the next area where we will learn how we can create the multiple stock items on a single place. So just try this one by yourself, and I will see you in the next one. 13. Inventory Creation With Opening Balances from Multi Item Creation Mode: This video, we are going to see how we can access the multiple creation mode for inventory items so that we can enter all of these inventory items along with the opening balances at a single screen. So let's see how we can do this. Since we have already entered the first item which is Carla windscreen, the next items can be entered from the masters, but this time we will go to chart of accounts. Don't worry, this is not a chart of accounts, but they have somehow put the option of multiple item creation in the chart of account. So we need to go in that and under the accounting masters, we have all the ledges and all. And the second category is inventory masters. So here we will click on stock items. This will show us the list of all the stock items that we have already created. Here, we can see that we have created one stock group, which is called car parts, and under that, we have created an inventory item that is called Caroul windscreen. Now let's enter the new ones. On the right hand side, we have the multiple masters. Let's click here. Let me just zoom it a little bit, multiple masters. So here we can create all the items. Multi create. We will select this option, and this will take us to the multiple stock item creation wizard, as you can see here. Undergroup we will specify because all our car parts, so we will mention as car parts. The next item is civic headlights. I'll just copy this, paste it right here. Hit Enter. This comes under car parts because we have selected it as a group. Units is each. Opening quantity is 950. Rate is 150, and this makes a rule 2142500. Press tab, go on the second line. Next, we have previous veil cups. I'll just copy and paste that. Press tab. Unit is each. The quantity is 250 and the read is 50. This makes the total to 12,500. Just make sure that you confirm the total every single time before moving to the next item, and then next item is previous rear lights. Now it's ideal that if you double click or triple click, it will automatically select all the text here. So just copy that and paste it right here. Press tab. The unit is each. Quantity is 550. Rate is 200 and this makes the total to 110,000. So before entering or saving it, let's confirm all the totals before saving it 142,500, 142,500, 12,500 and 110,000. All good, all okay. Let's press Control A to save it. And whenever we want to re access or edit that, let's say that we have made any kind of problem, we need to go to charter accounts and we will go to the stock items and multiple masters, and from here, now we will choose multi alter if we want to edit that. Select the car parts, and it shows the same screen, but it is in alteration mode. That means that you can change the inventory name, the category, units or opening quantity or anything you want that needs correction. So that's how we can enter all the stock items along with the opening balances from the multi stock item creation wizard. Just try this by yourself, and I will see you in the next one. 14. Reconcilling Opening Trial Balance Report: This video, we are going to see how we can reconcile the trial balance report before moving forward to day to day transactions. As you can see here that we have entered all the ledgers along with the opening balances, and then we have learned how we can create the customers and their balances, vendors and their balances, and finally, we have learned how we can enter all the inventory details along with the opening balance. Now that all the balances are entered in the Tell prime software, it should match in the trial balance report with exact same balance on the debit en cred side. So let's see. So from the gateway of Tel I'll click on the display Me reports section right here. And once we click here, go to Trial Balance. If you want to see the detail, alternate F one is the key, hold alternate key and press F one, and there we see all the balances on the debit encrade side, and there is no difference in opening balances as you can see here. As far as total are concerned, 4762 730 on both sides should be there, and it is exactly matching our trial balance, which we have in our project. So just check before moving forward, make sure everything is good. And if not, you can just click any particular balance and go in the further details until you see the final entry or since we have only entered the masters, we can go to the master section and you can click on Alter select Ledger and select any ledger to correct the balance if it doesn't match. That's how you finally reconcile the opening trial balance. Just try this by yourself, and I will see you in the next one. 15. Cash Purchases of Fixed Asset in Tally: This video, we are going to see how we can deal with the purchase of fixed assets in Tele prime, as you can see here in this particular transaction on third of January, purchase furniture by giving cash. That means we are purchasing a fixed asset by giving cash. How do I know that this is a fixed asset purchase? Because our business is buying and selling car parts. As you can see here, we buy the inventory items as car parts. We're not dealing in furniture business. If we are in the furniture business and we are purchasing the furniture, then it should be an inventory. Since our business is different, we are purchasing a fixed asset. So by giving cash means that we are not purchasing it from a regular vendor. Neither it is a regular purchase for us. We just went to the market and bought some furniture in cash. So we don't want the vendor to be entered for that. So either we can use the journal entry like we normally do in all the other softwares like QuickBooks MYOB, and all. But in Teddy, the vouchers are very flexible and we can use the payment voucher as well. Let's see how we can do this. From the main screen, we will go to the transactions and enter the vouchers. Now, it's very simple to understand the Italy interface because we just have a voucher feature where all the transactions can be done, whether it's payment receipts, sales, purchases, everything. So once we click here, we get the screen like this, and we have all the options on the right. Right now we are already in the payment, but if we want to switch between different functions, we can either click or use the function keys that is mentioned as a short key. But before that, let me just show you one thing. I'll just go back from accounting vouchers. I'll skip this for a while. Let's press Escape. And on the main screen, we can see the current date is set to 31st of January, and if not, you can change that as well if you're using the full version. So there might be a problem that if your current date is set to, let's say, first or second of January, it will not allow you to enter the transaction on the third January. Just remember that. Otherwise, in educational version, just remember that educational version only allow first, second, and 31st date. So let's try this. If we try to switch this date, if we try to switch this date to third of January, which is the current transaction date, I'll change the date and write here second. As soon as I hit Enter, even if I write second J, hit Enter, it will immediately change the date to second of January. But I won't be able to do this for third of January. As I press Enter, it is not allowing me to do that. Why? Because only first, second, and then 31st is allowed. So what we will do is rest of all features are allowed in the educational version. The only problem is it won't allow all the dates, but that's not a big problem because we will consider that all the transaction are on 31st of memory. So just write 31st J, and it allows this. Purchase the furniture by giving cash. So we are giving cash account. Let's choose the account. We have the standard chart bank and the cash. And what we are purchasing, we are purchasing the furniture. So that's a fixed asset, right? We don't already have the furniture account, so let's press alternate C, which will take you to the ledger creation area directly. And since it is from the voucher and not the main area, it's showing secondary here. So the ledger name is furniture. We will choose fixed asset category for it, and all the rest of the deials are same, press Control A to save, and the purchase cost is 10,000. Hit Enter, Enter again. And in the narration, I can just directly put this whole narration and paste it here. If you want to save after that, press Control A, and that's how we can save this transaction. Now, let's go back. And if you want to check all the DTD activities or all the transaction details, I'll just go to display more reports and click on Daybook Here all the transactions are showing where it's payment receipts. Or any other thing, you can also specify the date and time period here. For example, if you want to see all the transaction from first of January till 31st of January, it will show you all here. And whenever we want to reassess, let's say, to edit this transaction or to view this transaction, we'll just hit Enter from the Daybook and it will open the transaction again. So this is how you can deal with the purchase of fixed asset in Deli prime. Just try this by yourself, and I will see you in the next one. 16. Dealing With Prepaid Expenses: We are going to see how we can deal with advanced rent or prepaid expenses in teleprime. As you can see here in this transaction on January 4, advanced rent paid for six months by giving cash. Now, the shop rent is $1,000 per month, and we are paying all the expenses in advance. We already know that rent is an expense, but when you are paying in advance for six months that you haven't consumed the benefit yet, it is treated as a prepaid expenses, and prepaid expenses nature is current asset. If you want to learn more about the prepaid rent concept, I have attached this document with the resources section of this video so you can check that out. That says that prepaid rent is a type of asset that represents the rent paid in advance for a future period. Since the payment is made before the benefit of the rented property is received, it is recorded as a current asset on the balance sheet until the expense is incurred. This means that even for the Genuy you haven't consumed the benefit. Benefit will be consumed fully when the month end. Only then you have used the shop for one month, only that period should be charged. Only on that date, it should be charged as an expense. But before that, this all $6,000 that you've paid for six months in advance should be treated as a current asset. Let's see how we can deal with this in teleprime. So first of all, I'll go to the transactions. The transactions from the main area, and we are already in the payment. On the right hand side, you might notice sometimes that the payment is disabled because we are already in that section. And since we all know that in the education version of Tell prime, it only allows date number one, which is first of each month, second of each month, and then it allows 31st. So it's your choice, you cannot enter all the dates in between. So I prefer to keep all the dates as 31st of January in order to complete the assignment. The transaction says advanced and paid for six months by giving cash. So we are paying cash let's choose cash here in the account, and it's an advanced rent, so we need to create a new account, alternate C, and the account name is advanced rent. Or you can write here prepaid rent, hit Enter, Enter, and this one is a current asset, but you need to observe what is the most closely linked account to it. I find it current asset. So let's choose that. Rounding method, I don't want any rounding not applicable. Hit Enter, and you can just directly press Control A to save and now the amount is $6,000. Put 6,000 here. Hit Enter. In the narration, we will just directly copy this and paste it right here and press finally Control A to save. So this is how we can deal with the prepaid expenses in Teri Prime. Just try this by yourself, and I will see you in the next one. 17. Dealing With Security Deposit in Tally: We are going to see how we can deal with the security deposits in Teleprime as you can see here on January 4, security deposit paid by cash for shop taken on rent. Now, basically, when you take the shop or any kind of premises on rent, you pay a security deposit, but that security deposit is kept with the owner as soon as you occupy the shop, and when you only leave the shop, then you will get your security deposit back. Maybe that will be in ten years, five years. Ever. So in that way, it is neither a current asset because it is not repayable in one year and neither it's a fixed asset because it is not providing any kind of support in the administration purposes or in the fixed asset way, like furniture and motor vehicle does, it helps in the operations or in the management day to day functions. So this is only kept with the owner for a long period of time. So that can be called as other assets. But let's see what options do Tel prime have? From the gateway of Tel, I'll just click on vouchers because all the transactions are entered from the vouchers, and from the payments, I'll enter this because payments is the most flexible area where we can enter any kind of transaction. So we're paying it by cash. I'll enter cash, and I'll keep the date to 31st of January because Tel prime only allows first, second, and 31st of each month. In the middle of these dates, we cannot enter fourth, fifth, sixth, any date. You only enter first, second, and then 31st. So I prefer to do all the project in 31st of January to avoid any kind of confusion. The security deposit, I need to create a new account because I already know that we don't have it. Otherwise, you can just write any alphabet until you see all the list of ledgers, and then you can choose the relevant ledger from here and just write any alphabet so that the list should appear. And after that, even you can press backspace to see the full length ledger of accounts. I need to create a new one alternate C, and the leger name is security deposit, which comes under other assets. So we will put it in deposit assets, although it's a current asset, but it is a subcategory, so it feels nice, it is better to categorize it as deposits. So all the rest of information, I'll keep it as it is press Control A to save. And the amount is 18,000. For the security deposit, if you want to enter some more ledger details or some more leisure transaction, you can continue with the list. But if you want to ignore this because this is just a single transaction, I can just move to the narration. Select this, copy and paste this, and you are good to go. Press Control A to save. Now, if you want to locate all of the transactions that we have just ended, you'll just press Escape to go to the main screen, and then we will go to display more reports and click on Dabook. From here, we see all the transactions, but if not, you might need to change the time period or date period. On the date. Once you click on the right arrow key, this arrow sign, you can set the period. So period can be anything like first of January 2025 till 31st of January of the relevant here, hit Enter, and you can see all the transactions. Now, if you want to altogether delete any particular transaction, we don't have any option on the right panel, but on the bottom, we have a lot of options. Remove line, we can cancel the voucher, we can delete it. We can insert a voucher, duplicate a voucher, and more functions are there. So if we want to delete, the delete key is D with a single line. That means it will be used as a combination of alternate. So alternate, hold the alternate key, and then press D, and we'll show you the delete option, and then you can execute the deletion process, but I don't want to delete it. I just wanted to show it to you. And if you want to edit any particular transactions, just open by double clicking it, and you are on the lration wizard already, where you can not just view the voucher, you can also edit that. Let's say you have made a mistake in the date or in the narration or any ledger, you can correct it from here and press Okay. So that's how we can deal with the security deposit paid by cash in Teleprime. Just try this by yourself, and I will see you in the next one. 18. Dealing With Paint and Renovation Expenses: We are going to see how we can deal with the repair and maintenance expenses or any kind of indirect expenses that is paid in cash. As you can see here in this transaction on January 6, paint and renovation expenses for shop taken rent. Just imagine that we have bought a shop and why we are incurring all the paint and renovation expenses just because we need, let's say, some brand colors, some specific shelves and some kind of decoration. So the owner is not willing to pay for that. So that's why this is all the expenses that we have incurred. Now, this is considered as indirect expenses. Let's see how we can deal with this in teleprime. So from the gateway of T, I'll just go to the vouchers. Since this is a minor expenses, we will consider that it is paid in cash because these are one time expenses. So let's put cash here and paint and renovation. All the date of transaction, I'll keep it to 31st of January. Why? Because the educational version only allows first, second, and 31st. But many times you will experience that you accidentally miss the date changing process. Why? Because it automatically stops either here or here, the cursor is by default at these places. So if you want to configure this to always stay on the date first, you can configure it from the bottom area by clicking on F 12, and there we have all the essential functions that you can use. Show more configurations, hit. And it says here, skip the date field during the voucher creation, and it says yes. I'll change this one to no so that it always ask the date first. Anyways, let's continue with the transaction. The transaction was for paint and renovation expenses, we need to create a new ledger, Alternate C, and you can write here paint and renovation or repair and maintenance, whatever you like. I like paint and renovation, and it will be under indirect expenses. Let's select indirect expenses and no rounding, I don't need any specific invoice rounding, not applicable, not applicable, and press Control A to save. And now let's put the amount that is 1,500. All set, we don't have any other expenses. Narration, I'll just copy this one right here and paste it, Control V, and control A to save. So that's how we deal with the paint and renovation expenses in teleprime. Just try this by yourself and I will see you in the next one. 19. Receiving Payments Against Customer Balances to Settle Account in Full: Video, we are going to see how we can receive the customer payment in full and settle their complete account as we can see here in this transaction on seventh of January, it says Mr. Victor paid all previous balance by giving us cash. 65,000 was its total balance. Let me just scroll up and check the total balance of Mr. Victor. As you can see here, at the opening position, customer details, it is mentioned that Victor has the parting balance of 65,000 that we need to receive, and now he's being generous and clearing all the balance altogether. So that's great. Let's see how we can deal with this in teleprime. From the gateway of Tell, I'll just go to the vouchers and click on receipts. All the deeds, I'll keep it to 31st of January because the teleprime only allows first and second and 31st January or first, second, and 31st of each month in the educational version, rest, all the functions are enabled, but the deed restriction is there. So I prefer to keep all the transaction to 31st of January just to make it simple. And we are receiving the case. Make sure you are on the receipt voucher. If not, you can switch it from here. And we are receiving the amount from Mr. Victor. So let's write Victor here. As soon as we hit Enter, he's clearing all the balance. So even if it is not mentioned here, we can see the current balance here and he's paying us all the amount. Hit Enter. Now, it's asking you to select the method of adjustment. Let's select on account, but let me just explain you the other functions as well. The advance means if you received anything in advance, any cash in advance from the customer against the future services that you will provide or the future items that you will sale, and you're receiving advance, you will choose this one. Against reference means if you're receiving the payments against a specific bill, you will choose against reference. New reference means that you are receiving the payment, but you forgot to enter the bill at the starting or the invoice is created right at the point when the payment is received. So that's why you can select new reference on that thing. On account means any kind of previous spending balance, not specific to a particular bill or invoice, but altogether. So if the customer is clearing the amount altogether and not against a specific invoice, we will choose on account. And since this is an opening balance, we will choose on account because this is settled in total. Hit Enter, go to the narration, and we will just copy and paste this narration right here, press Control A to save, and that's how we can save it. If you want to see all the transactions until now, just go to the gateway of telebPressing Escape. Go display more reports. And from here, we will check the D book, and we can see and locate our transaction right here. So that's how we can deal with the receipts of customer payments. Just try this by yourself, and I will see you in the next one. 20. Entering Purchase Invoice on Credit: Video, we are going to see how we can enter a new purchase invoice in Tel prime with a new vendor, as well as you can see here in this transaction on ninth of January, purchase falling items from Mr. Matthew, which is a new vendor, and the items are same. We are dealing with the car parts business, so we are purchasing some of the items for our business. So I'll just go back and show you from the starting from the Gateway of Tel we need to click on the vouchers from the transactions area. Once we click on the vouchers, we are in the purchase area or purchase voucher by default, but if not, and we are on some other area, you can switch between all the other vouchers as well. So here we have purchase voucher. We also have the short key mentioned right here in blue. So some keyboards need the combination of function key, and the other ones will operate directly. So click here, and I'll keep the 31st January date. Why? Because the trial version only offers first, second, and 31st each month. Let's mention any invoice number because we don't have the invoice number mentioned here. Due date is the same party account. Since this is a new vendor, we need to create one party account. Alternate C, and the party account name is Matthew. And this comes under Sundry creditors. If you have already not changed the name, you will find Sunday creditors here, but we have already changed the name to accounts payable, so I'll choose that. Mintain bill pay balances. Yes, that's very important. Check for credit days during voucher entry. We can consider this, but since this is a simple project, I'll just skip this part and press Control A. Again, the receipt details and all you can mention all the advanced information here. Control A, and Control A again. And now the party account name is saved and the purchase ledger already created. So I'll choose purchases. But if you haven't created it, just for the reminder, you can press All C and then right here purchases right here under Purchase accounts, and that's it. Control A, and you're back on the screen. Now let's start entering the items. First item is Carula windscreen. The quantity for this is 50, rate is 400. This makes the total 220000. So that's good. Press Enter. On the second line, we have the civic headlights. The quantity is 30, rate is 150, 31 50. This makes the Rule 240500. And the last one we have is previous filters. The quantity is 100, rate is 50, this makes a Rule 25000. So all set, confirm the amounts once before entering it finally, press Control A, and you can also enter the narration right here if you want to so I'll just copy and paste this one and press Control A to finally save it. So this is how you can enter the purchase invoices in Tele Prime against the new vendor. Just try this by yourself, and I will see you in the next one. 21. Dealing With Cash Sales In Tally Prime: This with you, we are going to see how we can deal with the cash sales of the inventory items. As you can see here in this transaction on 11th of January it sees cash sales of Carla windscreen. One is the quantity, 560 is the rate, and this is the total. Now the cash sales is all against the walk in customer. So they might or might not be the repeated customers, so we will not create a customer for that. Customer is only created for all the credit sales because we need to receive the money from them in future. But since these walk in customers are paying us directly in cash, so we don't need to keep a record of that. We can just mention the name in the narration, but we don't need to create the customer for them. They might not come back in future. So that's why we will record it only in cash. So from the gateway of Tell I'll click on vouchers, and let's go to Seals. We can press F eight or click on the seals on the right handside and and the party name is not applicable since we are selling in case, so I can directly select case here, and that's very rare in other counting softwares, you don't find this option. Here, we can enter the party name directly as case if we are receiving the case. Dispatch details and all the other important stuff is there if you want to mention the details, but I'll just press Control A, press Control A again. And the SLS ledger, we need to create a sales ledger here for the first time because this is the sales we are making for the first time in future, the ledger will already be there. So alternate C, write sales here, and we will select SLS account, and that's it. Press Control A, now the item is Carla windscreen. The quantity is one, rate is 560. This makes the total to 560, and then press tab. If you have more items, you can add it here, but we only have one. So let's go to the narration and here we can just copy and paste this narration right here. Copy here, paste right here, and press Control A to save. If you want to check all the transactions, we can just simply go to display more reports from the Gateway of Telly and here we will click on Daybook and you can find all the transitions right here. So pretty simple, try this by yourself, and I'll see you in the next one. 22. Recording Credit Sales in Tally: You, we are going to see how we can book the credit sales in Deli Prime. As you can see here in this transaction on 12th January, it says credit sales to Mr. Walter of previous are lights, and we are selling them ten items at the rate of 280, and this is our credit sales. So let's see how we can book this. Now, first of all, from the gateway of Deli I'll just go to the vouchers, and on the right hand side, I can switch between any voucher. So let's say I want to pick up the sales voucher, the code or the short key is F eight, or otherwise, you can just directly click here as well. Now I am in the sales voucher. The party name is Mr. Walter. I'll just write W here and it will show us the name. Just put here. And if we want to mention the other advanced deals like all the dispatched deals where it is going, where the order is going bill of lading motor vehicles that is carrying the delivery and delivery note, et cetera, you can mention all the advanced information here, but if you don't have it, you can just skip through this part and the party details as well. Now, the sealed letter is already defined here, just select that. We are selling previous rear lights. Quantity is ten, rate is 280. Now why it is not suggesting the rate? That's because we are making the sales for this particular item for the first time. So that's why 280. This makes the total to 2,800. And this is against a new reference, so we can write any reference number of the invoice number. This is basically the invoice number and duration at the bottom, we can copy and paste disc narration. Paste this narration right here and press Control A. And if you want to check the entries, we can go to the display more reports from the Gateway of Tel and under here, we go to Daybook and there we can see all of our transaction and Mr. Walter transaction here as well. If you don't see any of the transaction, you can just go to the date option, click on this arrow sign and select the period from, let's say, first of January till 31st January and select any relevant period, and then you should be able to check the transaction. If you ever want to open any particular transaction, select that transaction, open it up, and you are good to go. You can make any kind of alteration. So this is how you can book the sealed invoice on credit in Teleprime. Just try this by yourself, and I will see you in the next one. 23. Dealing With Customer Advances: Video, we are going to see how we can deal with the customer advances in Teleprime as you can see here in this transaction on 13th, January, it says, receive cash in advance from Albert. So we have received 5,000 from Mr. Albert. Now, Albert is our customer. Why do you think the customer will pay us any amount in advance? That might be because they are ordering us a bigger amount order with a lot of quantity. So we want some kind of advance so that we can start working on their order. And on the very next transaction, you will notice that we have also received the sales order from Albert. Order number is 25, and we have Carla windscreen, civic headlights, filters, and the quantities are these. So only 12 Carla windscreen cost 6,720 2,100 and 350. So against this big order, we need some kind of advance. So we are receiving 5,000 as an advance. I'll just remove this all and let's now quickly see how we can receive this customer advances first and then how we can record the sales order. Now, in Teleprime we are in the daybook but if you want to just directly switch to the vouchers creation mode, you will directly press Alternate A, and then we are in the accounting voucher creation mode. But for this particular transaction, we are receiving the money in cash from Albert. So that means we need to switch to the receipt mode. On the right hand side, we have the receipt mode. Switch it up and we are receiving cash, and we are receiving this against Albert. And the amount is 5,000, hit Enter. Now, this amount is received as advance, so I'll choose the method of adjustment to advance, and we can mention any reference number like ADV, 001, hit Enter and Enter, and just continue entering until you're back on the screen. Just hit Enter again, and in the narration, I can just copy all this and paste it right here and press Control A. As soon as I press Control A, you will notice I'm back on this particular screen where we can see the daybook. And also, we can see the latest entry of Albert for the advance receive. So this is how you can book the customer Advances in Terry prime. Just try this by yourself, and I will see you in the next one. 24. Handling Sales Order: Video, we are going to see how we can enter or enable the sales order in Teleprime as you can see here on this transaction on 13th of January, receive sales order from Mr. Albert, which is our customer, and the customer has ordered us these items. So let's see how we can book this in Teleprime If we go to vouchers, we can switch to different areas, but if we check Seals order, there's nothing like sales order mentioned here. So if we even click on this arrow sign next to SLS, it will only show us the sales order option, but it is disabled. So how we can enable this, you will go to the other vouchers from the bottom, and from here, you cannot see the sales order active. So let's click on Show Inactive option, Show inactive, and there you will see all the inactive areas. Under the order vouchers, we can see the sales order and purchase order. If you want to activate this, just simply hit Enter on this and it will ask you, do you want to activate this click yes, and now the sales order is active. Now, let's say if we are in some other voucher and you want to switch to sales order, just click on this area and select sales order, or you can use the Control F eight key. Why Control F eight? Because it is used with the combination of double dash. So double dash always means it will be used as a combination of control. So control and the function keys F eight. So control F eight, switches to sales order. Now, the customer name is Albert. We can mention all the order details later. So just skip this Enter, Enter, Enter, Enter and Enter. The order number is 25. The sales digter, I'll select sales here. First item is Carula windscreen, CRL windscreen. Item that is due to be delivered. So let's say the item is due to be delivered on 31st of February. That is next month or let's keep it to 31st of January. This is the due delivery date, and the quantity that the customer order is 12 rate is 560. And this makes the Rule 26720. Hit Enter, Enter, go on the second line and then enter the next item. That is Civic headlights. Just make sure that every time you enter this item, don't just start entering the new item at the bottom. But instead, just skip this part, press Enter again, go to the main screen, and then hit Enter to go on the next line and then start entering the sales order of the next item. So next item is Civic headlights du one, same date. Quantity is ten, rate is 210. This makes the total 220100. Hit Enter, Enter, go on the main screen, and then hit Enter to go on the next line. Next one we have is previous filters. Hit Enter. Quantity is five rate is 70. This makes the total to 350. So overall, before saving this, make sure all the amounts in total are correct and all the items are correctly selected. All okay. Just put the narration here at the bottom if you want to, and you are good to go. Press Control A to save, and this is how you can book the sales order in delibrime. Just try this by yourself, and I will see you in the next one. 25. Entering Direct Sales In Tally: Video, we are going to see how we can book the direct sales in Teddy Prime, as you can see here, on 14th of January, it says sales made of falling items to Mr. Justin, and we are selling them on credit, all of these items. So let's see how we can deal with this in Teddy. First of all, if you want to switch to the main screen that is Gateway of Tel and from Gateway of Tel, I'll just choose vouchers in the transaction section, and we are currently on some other document that is sales order. If you want to switch to any other vouchers on the right hand side, we have the Opton. So let's switch to sales. The party name is Mr. Justin. I can simply write Justin here. And dispatched details, we don't have any further dispatched deals, so I'll just exit out of this. Hit Enter, Enter and Enter. Sales ledger, I'll select sales. I've already created this, and the configuration is pretty simple. If we even want to edit this dictly from here, I'll just press Control Enter. I'm not going to alter this, but I'm just going to show you that if you want to create the sales adder for the first time, you just need to press Alternate C to enter in the create mode. Right here, seals, select sales account, and that's pretty much it. Click Control A to save. And now let's start entering the items. The first item is Carola windscreen. It's not against any order numbers, so I'll just click No applicable. It's a direct seal. Quantity is 25, rate is 560. This makes the total 214000. End of list, remember that you every time select end of list, move to the main screen, and then hit Enter, go on the second line, and now we can enter the next item. That is civic headlights. Order is not applicable. Quantity is 15, read is 210, and this makes the Rule 23150, end of list. Go to the third line, and the next item is previous filters. Not applicable. Quantity is ten, ad is 70, and this makes the 2700. It enter and end of list. It enter again, Enter again, and this is the new reference. You can mention any reference number here if applicable. So this is the total. Move to the narration and you can Copy and piece the narration from here, and that's pretty much it. Press Control A. And if you want to see the entry, you just move to the gateway of Telly, go to display more reports, click on Daybook and there you can see all the entries, if not. On the right hand side, we have the option to switch or set the period. Go to the period from first of January till 31st January, you can set the period and check your relevant entry. And if you want to edit that, just double click to go in that entry. So that's how you can book it. Just wry this by yourself, and I'll see you in the next one. 26. Activating and Recording Purchase Orders in Tally Prime: Video, we are going to see how we can activate and record the purchase order in Tel prime. As you can see here, on 17th of January, it raise purchase order to Mr. Sian, which is our vendor. So we are ordering some of the items from our vendor. And these are the details. Let's see how we can activate this. Right now, I am in Dabook If I want to directly enter the purchase order from here, I'll just press Alternate A to directly go to the voucher creation mode. Otherwise, I'll just skip all of this, press Escape, escape, and escape to go to the gateway of Tel which is the main screen. From here, I'll just open the voucher on the right hand side, I can see all the vouchers, but purchase orders cannot be found. What I'll do is, since it is related to purchases, I'll just click on this arrow key next to it. But when we click here, we can see the purchase order is there, but it's inactive. So how we can activate this, it's very simple go to the other vouchers and it's not showing it as active. In the order vouchers, you can see on the sales order. But we have an option to show the inactive areas. So let's click here. Just double click here to see all the list, and now we can see all the inactive ones as well, which is grade out. So by default, all the advanced features are not enabled, so you can easily enable this according to your needs. We want the purchase orders to be active. Just select that, hit Enter. It will ask you that you need to activate the purchase order voucher type, activate now, hit Enter again. And now we are in the purchase order. So whenever we want to access the purchase order, we just click on this arrow sign next to the purchases, and then we should be able to see it like this. So the date of transition is 17 January, but since we are working on the educational version, it only allows to enter three dates, first, second, and 31st. So I'll choose 31st for making it convenient. Let's enter SN. As soon as you start writing the name, you will automatically see the party name right here. If you have the other order details related to this vendor, we can fill it, but otherwise, just hit Enter and Enter and click Enter until you see this one. Now, the order number is 49. Hit Enter. Purchase ledger is set to purchases. I've already configured that, but if I just want to show you how we can configure that, I'll just press Control Enter to edit the ledger. But if you are creating for the first time and you don't have anything defined here, you will press alternate C. So what I've done is just name it as purchases and under it should go in purchase accounts. That's it. Control A to save and now let's start entering the items. We have ordered Carla windscreen. Order is due on 31st January, but you can mention any date on which the actual order is due to be delivered by vendor. Quantity is 25, read is 400. This makes the total to 10,000. If you hit Enter and see other du on date, just skip this, hit Enter again, go to the main screen, go on the second line, and then start entering the next item. That's very important. Civic headlights hit Enter until we see the quantity column. So 30 is the quantity. Rate is 150. This makes the Rule 240500. That's good. Hit Enter, hit Enter again, and previous el cups. Let's select prius al cups, hit Enter. The quantity is 20 and rate is 50. This makes the Rule 2100. Rate is 50. Hit Enter, and almost everything is done. Just we need to write the narration here, copy and paste that, paste it as a narration and press Control A. So that's how we record the purchase order in Teleprime. Just try this by yourself, and I'll see you in the next one. 27. Dealing With Bad Debts: P, we are going to see how we can deal with the bad debts in Teleprime as you can see here in this transaction on 17th of January, it says Mr. Walter didn't pay the due amount, thus treated as bad debts, and total amount is 17,800. Now, if we look into Mr. Walter account, if we scroll up at the top, Mr. Walter, due amount from the last year as an opening balance was 15,000. But the total bad debt amount is 17,800, right? That's because during the year, we have also sold something else to Mr. Walter worth of 2,800. So 15,000 plus 2,800 is 17,800, but now the party is either bankrupt or ran away. So that's why we are not able to recover this amount. So whenever you are unable to recover any particular amount, that is treated as bad debt, which is an indirect expense. We just simply charge that amount as an expense instead of receivable. But the bad debt will be debit as an expense. What we will credit? Actually, we should credit the party name, which is Mr. Walter. But it's not possible to credit the party name in other accounting software. But in Teri, it's possible, and the simplest treatment that we can do in Tel is just go to the vouchers from the Gateway of Tel and just simply enter the journal voucher. Now, by default, it is set to two and B format, not debit and grade format. This is used mostly in India and Asian regions. So what we will do is, if we prefer to enter in debit and credit form on the right hand corner at the bottom, we have the configure field. So just go to the configure field and from here, we have the first option named use credit and debit instead of two by entry. I'll change it to, and to see if the changes, I'll press Control A. Now we can see the debit in trade form. Now, if we try to enter bad debt, we don't have any account, so we need to create one alternate C right here, bad debt, and it will be an indirect expense. No rounding is required, not applicable, not applicable and press Control A. Now, the amount of this bad debt is 17,800, and against that, we can directly credit the party name which is Mr. Walter. Now, it's not possible in most of the software to credit the party name directly. Most of the journal entries doesn't allow that in other softwares. You have to create account receivable, but then the individual party account is not affected. So these are some of the problems that we face in other accounting software, but in Tell, it's very, very simple. Just go to the journal entry debit Beds, credit party name, and that's pretty much it. Now, if you want to refer this against a separate bill, you can select against reference as well. As we can see here, it is only showing 2,800 bill, but we have the opening balance as well. So it's better that you can select the spending bill, and in the next line, you can settle it on account. So both of the balances will settle up. Hit Enter, Enter, and just copy and paste the narration right here. And press Control A. If you want to see any entry, or how it is recorded. Just go to the reports and click on Display Moe reports and click on Took. There we can see all the entries, and our entry of Badet is right here. So this is how you can record it. Just try this by yourself, and I will see you in the next one. 28. Purchase Of Services: We are going to see how we can deal with the purchase of services in Teleprime as we can see here on 18th January, it says, packing charges invoice received from Mr. Anthony, which is a new vendor. Now, since our items which we buy and sell are fragile items, they need special handing and packing. So that's why we are purchasing these services from Mr. Anthony. They have the special packing team and the material as well. So we are purchasing this service. Now to record this, if you are in Dabook and we want to switch to the vouchers directly instead of going from Gateway of Tell, we'll just press Alternate A to switch to vouchers, and we'll click on purchases on the right to switch to purchase voucher. Now, the supplier invoice number, I can mention any supplier invoice number. There's nothing mentioned here, so I can make it anything. Due date, party name is since it is a new vendor, I'll just create this one Alternate C, and the vendor name is Anthony. And I'll record this as Suny creditors, but since I have changed the Sunday creditors name to accounts payable, I'll select that. Menta bill by bill balances. Yes, I want to maintain this and press Control A because there's nothing else required right now. So control A. If you have other details regarding this receipt or this purchase, we can enter it here, but otherwise, hit Enter and Enter to skip all of these parts. And now in the purchase letter, I'll choose purchase. But whenever you want to see how we can configure this purchase letter if you don't have already configured, we can just name it as purchase, and the nature will be purchase accounts. That's it. I just remind you every single time so that you can have a good drip on it. Now, since this is a purchase template, but this is related to item invoice, want to switch to service invoice. So what I'll do is on the right hand side, I can see change mode. So click on change mode, and I'll change it to accounting invoice. Now we can specify the service. Hit Enter, Enter, script through all of these parts, skip through all of these parts. And here, packing charges is our service name. So alternate C, I'll just mention it as packing charges or packing services, whatever you want. And this will be my direct expenses because this cost is incurred directly on the packing of material that we are planning to sell. So it's used in packing of all the inventory items. So that's why it's a direct expense. Type of ledger, I'll just select it as not applicable, no invoice rounding, hit ender, not applicable rounding method, press Control A, and we simply mention the amount that is 4,500. Press Enter, Enter, and it will be mentioned against the new reference, and we hit new reference, we can mention any reference number or this is invoice number, basically. So we can mention it here, hit Enter, and now we can simply put the narration. Now, it's not necessary that you enter the new reference because supplier invoice number option is also available here. So anyways, let's go to the narration area. And here we will just copy and paste this in the narration, press Control A, and that's how we record the purchase of services in Delprime. Just try this by yourself, and I'll see you in the next one. 29. Partial Payments of Purchase Invoices: This you, we are going to see how we can deal with the partial payments against the purchase invoices. As you can see here in this transaction, paid Mr. Anthony by check of Standard Chartered Bank, and we are paying to Mr. Anthony, which is our vendor, 3,000 rupees or $3,000. So in the earlier transaction, as you can see here, packing charges invoice received from Mr. Anthony, and the total amount was 4,500 against that. We are paying 3,000. So let's see how we can deal with this partial settlement in Tel. First of all, if you're in the Daybook, you can just press Alternate A to directly switch to accounting voucher creation, and on the right hand side, we can switch to any voucher. Otherwise, if you are not here and you are in the gateway of Deli, you can just go to the transaction and click on vouchers from here. And here we can click on the payments, select the date, and we are paying by standard chartered bank. Just select the bank. And the balance is of Mr. Anthony. So just choose the venden name. The total balance is mentioned right here. It's 4,500 out of which we are paying 3,000. So this should be against reference because we have entered the invoice number randomly in the ADR invoice. So hit Enter, and as you can see here, this is the bill name or invoice number, and just select that. And against this, we are settling 3,000, hit Enter, and you can write here any check number if you have one. In the narration, I can just copy and paste this. Now, if you're wondering how I got these all options, it's very simple. If you select the vendor, I'll just show you again. When we select the vendor, we write the amount, and then we get this reference against reference, we have mentioned the invoice number, and against that, we have mentioned the amount. And as we start entering through different areas, it will automatically give this option. So I'm just pressing Enter and Enter each time. So now the transaction type is settled by check or cash or whatever you have. So if we have some more show more, we can settle it by cash or others. Let's say we can select others here and it's settled in 3,000. Instant number or any reference number, you can mention it here, and that's how you get all the options. To exit as well, we just clicked a couple of Enders, and now we are on the main screen. So just copy and paste this reference right here and that's done. Press Control A. So this is how we can deal with the partial payments of purchase invoices. In eleprime, just try this by yourself, and I will see you in the next one. 30. How to Convert Sales Order to Sales Invoice in Tally Prime: With you, we are going to see how we can convert the sales order to sales invoice. As we can see here in this transaction, 19 January, send all items to Mr. Albert against previous sales order. That means we have already recorded a sales order, and now we want to convert all the sales order along with all the items to sales invoice because we have delivered all the items to the customer. So let's locate this order number 25. If we scroll up a little bit, we can see that we have booked this sales order previously where we have taken the order of all of these items from customer, and along that, we have also received some customer advances as well. So let's see how we can settle both in Tel prime. So first of all, from the gateway of Tel, I'll just click on Display Moe reports and go to the daybook where all the entries are. And the sales order conversion technique is pretty simple. You can see this sales order, but we will just go back to the main area and we will create a duplicate voucher right at the bottom. Create a duplicate voucher. It will open up the sales order, but we will change this duplicate to sales invoice from here. Just click on the arrow next to sales voucher and click on SLS, and it will be converted to sales invoice. And at the same time, the order will still exist in the background. So this is the complete order. We can ignore all of these retals if we don't want to fill it right now, and items are all filled with details Second item all filled with details. And after that, we will enter, Enter, Enter again. And once you go in the total amount field, then if you press Enter, you will see this adjustment screen now. And since we have already recorded advance and we have mentioned the reference number against it as well. So now we want to settle that advanced against the reference. So against the reference we have received the 5,000 in advance. Let's see it in pending bills. We can see, and we want to settle this against that. How much was that? 5,000, hit Enter. It enter, and the remaining will be against the new reference, and the remaining will be against on account, which is the remaining amount of 4170, I enter. So this is how we can enter this. Let's change the naration. Let's paste this one. Paste it here and hit Control A. Now, if you want to extract the ledger of this customer, you'll just go to display more reports, and from here, click on accounts books and click on ledger and we can extract the ledger of Albert. And here we can see the sealed amount and the amount that we have already received. So the pending amount is mentioned right here after the deduction. There's also an opening balance right here, which is mentioned separately. So these are all the details you can extract. So just try this by yourself, and I'll see you in the next one. 31. Dealing With Purchase Returns: O, we are going to see how we can deal with the purchase returns in Tel prime, as you can see here on this date on 22nd of January, return ten Carula windscreens to Mr. Matthew, which is our vendor. That means we are returning items back to our vendor at the rate of $400 per unit. So from the Gateway of Tel, we will just google the transaction and click on vouchers. But on the main screen, we can see only a couple of vouchers, none of them are related to debit or credit note. But as we hold alternate key, we will see all which is with the Alt combination, as you can see here. Debit node is F five with a dash. Credit node is F six with a dash. So all, which is used as a combination of alternate key will be shown as you click or hold alternate Key. Otherwise, you can click on other vouchers to see all the accounting vouchers that you cannot see otherwise. But most of the people are confused that whether purchase return is a debit note or credit note. I'll just tell you a simple rule for it. Normally, when you enter purchases, purchases is debit. So to make the purchase return, it will be a debit note. So just link it to purchases. When we purchase something, it's debit, so return will be debit note. When we see something, sale is credit, so return will be credit note. So I'll select debit note. And as you can see, the template is exactly the same for all the documents. Whether you enter sales purchases, sales order, purchase order, all the templates are same. Mr. Matthew, let's choose Mr. Matthew here. Hit Enter, Enter and Enter. If you can fill this retail, you have the documents, then you can fill it right away. Otherwise, I'll just hit Enter and ignore all of this. Ledger, we will select purchases here. The configuration of the purchases, let me just show you Control Enter. Just simply you need to create an account with the purchases, and under the purchase accounts, that's it. Control A. We are returning ten Carula windscreens. So let's choose Carol windscreens and item is ten at the rate of 400. So the total amount that we are running is 4,000 end of list. That's it. You can press Enter a couple of times. And if you want to link this against a reference, once you go in this total amount field and press one more time Enter, you will see this method of adjustment, whether you want to create a new reference for it on account or you want to settle it against reference. So we don't have any reference against that, so I'll settle it on account. Otherwise, it's preferred to settle it against the reference. So let's copy and paste this narration right here and press Control A. And this is how you can book the purchase returns in Teri Prime. Just try this by yourself, and I'll see you in the next. 32. Handling Sales Returns in Tally: We are going to see how we can deal with the sale return in Teri Prime. As you can see here on 24 January, return five Civic headlines by Mr. Albert. That means the customer are returning items back to us at the rate of 210 per unit. So let's see how we can deal with this. If you are in the Daybook, that's not a problem. We can directly switch to the voucher creation mode by just pressing the alternate AK. And we can see all the vouchers on our right, but we cannot see the credit and debit note. We will simply go to the other vouchers, and once we are in other vouchers, we can see all the rest of the vouchers. Want to use credit note, just remember that if you're confused between debit and credit note, sales is normally credit, so the return of it will be credit note, similar to the sales side, which is on credit side. So return is also credit note. Purchases is debit, so the return will be debit note. So the link with the side of the entry to remember easily, sales is credit, its return will be called credit note. Just select this. And you will notice that it is exactly the same format as the debit note or purchase returns. In fact, in Telly, all the vouchers are approximately of same method, whether it's sales, purchases or other things. So party name is Mr. Albert. If you have other recipient details like dispatch destination and other details, you can mention it right here. Otherwise, I'll just ignore through it. I'll just keep pressing Enter until I see the next screen, keep pressing Enter until you see the next screen. And the ledger account will be sales. But if you want to see how we configured this, control Enter, simply, if you don't have the SLS account, alternate C to create it. SLS is the name, SLS account is the category, and that's pretty much it. Now the item which we are returning is civic headlights, right? So civic headlights, let's choose that. Not applicable. Order number is not applicable. And we are returning five items at the rate of 210. This makes a total to 1050 end of list. Hit Enter and Enter and Enter. If you want to settle it against a particular bill, you can select against reference. But since we don't have any bill reference showing right here, we will settle it on account, hit Enter and exit through it. Now, in the narration, I can just simply copy this one right here and paste it here. Press Control A, press Control A, and this is how we can book the credit note or the sales return in Teleprime. Just try this by yourself, and I will see you in the next one. 33. Convert Purchase Order to Purchase Invoice: With you, we are going to see how we can convert the purchase order to purchase invoice. As you can see here on 26th of January, it says, Mr. Sian send all items against previously issued purchase order. That means that the order is fully delivered by the vendor to us and we want to fully convert the purchase order to purchase invoice. Let's see how we can do this. Now, in Tel Prime, we have two options. First of all, from the Gateway of Tel, we'll go to display more reports and click on Daybook There we can see all the voucher types along with all the transactions that we have done. So this is the purchase order that we want to convert. Now we have two choices. Either we can just double click to open this and just fully convert this purchase order to purchase invoice, but it will convert the purchase order so that the purchase order will not exist as a document in the background. So what we need to do is just open this purchase order. It is in the aeration mode, and we will directly change this one to purchase invoice from the right from here. Click on purchase, and as you can see, the voucher is altered and now it is a purchase invoice. But this way, the order will not exist in the background. So if we want that to exist as well, we will create a duplicate voucher, as you can see here at the bottom. Alternate two is the short key because it is with a single dash. So alternate two this will create a duplication of the existing voucher. After that, we can just simply convert this purchase order to purchase invoice. So not only the purchase order will exist in the background, also, we will be able to convert the purchase order to purchase invoice or create a new purchase invoice out of that. So let's give any invoice number, just for the sake of example. The party name is Sian, and these are all the items that is fully converted to a purchase invoice, so we don't need to change anything. It's exactly the same as we did for the order. And after that, if you want to change the narration, you can just simply copy this one, paste it right here, and press Control A, and this is how you can convert the Purches order to BCs invoice. Just try this by yourself, and I will see you in the next one. 34. Loss of Inventory Adjustment in Tally: Video, we are going to see how we can deal with the loss of inventory in teleprime as we can see here, on 27th of January, it sees one Cora windscreen damaged during loading and unloading at the rate of $400. Now, there are two types of losses. One is normal loss, which is normally in the production units. That means that let's say that we have provided some wood to manufacture a table. But that was for, let's say 12 Kg. But when the table was produced, the table weight was ages. So during the process of conversion of that wood, that raw wood to a table, there was some normal wastage, but that is the part of manufacturing process. This is the normal production process, so that's why that can be called normal loss, which will be charged in cost of sales. But otherwise, in the trading business, if it says one corolla winskin damaged during loading and unloading, that means this is the mistake on our part. Our labor has mishandled the items, and that's why one was damaged. So this is an indirect expense for us that cannot be charged in cost of sales. So this is an abnormal loss. Let's see how we can deal with this in tally. First of all, if we are in the Dabook, I'll just press Alternate A to directly go to the accounting voucher creation mode. And from here, we'll pass a simple journal entry. On our right, we have the F seven option. Just click here. And the date of the transaction is 31st of January. The entry should be loss of inventory debit and inventory should be credit. But loss of inventory account, I don't think it exists. No, it doesn't we need to create it on the debit side. Alternate C, we can directly create it from here and write your loss of inventory. And this one is our indirect expense. So I'll charge this in the indirect expenses category. Type of ledger not applicable. Rounding method not applicable. Press Control A to save this, and now the ledger is created, right? Now, one Croula winsken at the rate of $400 makes the total to 400. So I'll just write 400 here. And in the credit option, it looks like the inventory should be credit. But like I said, all the inventory in Tali prime is connected to purchase. So I'll just credit the purchases here, right here, purchases. And once we hit Enter, it will automatically connect you to the inventory allocation screen. Where we will just simply mention Carla windscreen. Order number is not applicable, so I'll just hit not applicable. And the quantity should be one. Rate is automatically mentioned. Press Enter, Enter, and end of list, Enter again, and that should take you back through the main screen. Since inventory is credit, that means it will automatically reduce the inventory quantity. And you just have to mention the narration, and that's pretty much it. I'll just copy the narration from here, paste it here, and press Control A. So this is how we can deal with the loss of inventory in teleprime. Just try this by yourself, and I will see you in the next one. 35. Rent Expense Adjusted Against Advance Rent Account: Video, we are going to see how we can convert the prepaid expenses to the expense account, as we can see here. On 31st of January, it sees rent expense for January, adjusted from Advanced rent account for an amount of $1,000. That means we have paid some advanced rent to the owner. Let's scroll up to see. There we can see this entry. Advanced rent paid for six months by cash, and the rent was $1,000 per month, so we have paid in advance $6,000. But that was in the start of January. At the start of January, we haven't consumed the benefit of the premises yet, so that shouldn't be charged as an expense because the expense will only be charged once we have consumed the benefit. So even now, we have consumed only a single month of benefit because the month has ended and we have used the premises for that particular month. So only that part of advances should be charged as an expense, right? So let's see how we can deal with this in Telly. First of all, if you are in the Tabook it's very simple to move directly to the accounting vouchers. Just press Alternate A, hold the alternate key, and press A. That should take you directly to the accounting voucher creation mode. But otherwise, if you want to go to the main area from the gateway of Tel just click on the transactions N vouchers. From here, I'll just simply select journal entry on our right. So debit should be rent expense. Now, if we try to find this, we only have the prepaid rent and not the rent expense account. So we want to create one, we can directly create it by pressing Alternate C, and that should take you to the leisure creation screen. I'll just write here rent expense. And this should go in the indirect expenses. I'll just hit Enter type of ledger I'll select not applicable and rounding, I don't want that and press Control A. The ledger is created and we are back on the screen. The rent expense amount is 1,000, hit Enter, and credit is prepaid rent. So now that we have consumed the benefit of that particular time period, so we will reduce this from the prepayments. Enter. And once we are in the last screen, we will just copy and paste the narration here and press Control A. So this is how we can convert the prepaid rent to a rent expense account. Just try this by yourself, and I'll see you in the next one. 36. Extracting Trial Balance Report: Video, we are going to see how we can extract some of the important reports in Teleprime as we can see here in our assignment that all we have done is entering the opening balances, entering the customers and vendor balances and inventory details along with all the day to day transactions. So now the project is complete and we want to extract some important reports. How can we do that? Let's see. We have many important reports like balance sheet, profit and loss, but the source report, which is then transferred to all the other financial reports, is trial balance. So the first hand report is the trial balance. From the gateway of Teel, just click on display more reports because on the front, we can only see the balance sheet, profit and loss and ratio analysis. So I need to go and display more reports. Once we are in here on the top, you can see the trial balance report. Click here. Here on this screen, we can see the total balances according to group and not the individual ledgers. So if you want to see the individual ledger deals as well, just hold the alternate key and then press F one to see the details along with the ledgers. So the total balance on the debit and credit side is 4853 060. Now, this is what the balance I remember, but don't worry if you have any changed balance. You can just simply follow this one. And if you have some discrepancy, you can just simply select that particular ledger, drill it down, like just hit Enter, and then press Enter again, and then press Enter again. So it will take you to the ledger vouchers. And once we click one more time, it will take you to the alteration screen. So let's say, instead of 18,000, you have entered 8,000. Can make all these corrections here and then breast control A and escape and escape to go back, and immediately it should update the balance here. So you can check the balances accordingly. For your convenience, I'll export this report so that you can check this and match it with yours. To export, we can just directly click on this export section on the top or otherwise, use this short key along with the combination of alternate. Alternate E I want to extract the current report. If you want to configure this, you will click on Configure. Otherwise, you can export it directly. Let's say, instead of XML file, I want to configure this and change it to some other file format. If you want to show the opening balances, we will just hit Enter once and it will be changed to yes, show transaction, yes, and all the other tials can be mentioned as well. Type of grouping will change it to ledger wise. Instead of XML, we want to switch to Excel, just hit Enter and you should be able to change that. The folder path is C program files and teprime. If you want to extract it to somewhere else like C drive, and let's create a new one Teri reports. Hit Enter. Since this is a new folder that doesn't exist, you want to create it, yes. So folder path is all set. The file name that will be extracted can be set here. You can change it easily, hit Enter, hit Enter again. Go back. As you can see here, all set, how I went back, press Escape a couple of times and you should be able to go on the screen and click on Export. Now it will directly export the report. In C drive, we can see this particular folder that means that is named as telly reports. Just go in here and just open this letter up. And we can see the opening balances along with the debit and transaction and then the closing balances. So if you want to ignore this, we can either hide it or remove it, and the other balances are these. But as we can see here, it even involves the individual ledgers, like debtors, creditors, all ledgers here as well. So if we don't want this kind of report, we can make the settings. Just let's go and try some other settings. By default, the opening balance is set no show transition is set to no, and all the other things are set. Let's configure this type of grouping is set to group wise. Format is detailed, all set. I'll just customize the location. And I'll set it to tell reports. Trial two. I'll just name it like that. Hit Enter, go back and we can hit Export. And this time it shows like this. So this is the kind of report that shows the exact same style with the exact same balance. I'll just attach it with the resources section of this video so that you can check that out for your reference. So that's how we can extract the trial balance report in Telprime. Just try this by yourself, and I'll see you in the next one. 37. Extracting Profit and Loss Report: Video, we are going to see how we can extract the profit and loss report in Telprime as we are in the Trial Balance report. If you want to extract some more reports, I'll just scoop back to the main screen. I'll show you from the main screen, press Escape wherever you are, press Escape a couple of times until you see this Gateway of telly. So from the Gateway of Telly on the face of this dashboard, you can see the profit and loss account. But once we click here, you will notice that it is in the older format, which is a T format to show the profit and loss account. If you want to see it on a statement format, you can just simply configure it, but just going to this corner, this right hand bottom corner, press F 12, and the format of the report is condensed. I want to see the detailed report because as we can notice, it's only the groups that are showing here without the ledgers or individual account balances. So I want to show the reports with details. Just hit details here. And I want to exclude all the accounts with zero balances because we don't want that which ever has zero balance. And the statement form is also called the vertical profit and loss. Right now, it's in T form. I want to show it in the vertical form. Just write vertical here, press Control A, and that's how we can see the proper form of the profit and loss account. So as we can see here, we have made a loss of nearly 16,000. Now, don't worry if you have some different balances. Like I said, you only need to correct the trial balances, and automatically the balances will change. And even during the process of entering different transactions, we kind of make sometimes some mistakes, but that can be corrected easily by just going to the daybook and checking each single transaction. And if you want to export it, the method will be very simple. But this time we will also see how we can get this report in PD form. From the top, we can just export it, export the current report, and we want to export it as vertical profit loss. The format will be detailed. The file format will be Excel. But if you want to configure this, I'll just click Configure, and there we can make all the changes. File format, let's check. And here we have the PDF file available. Digital signature, if you want to mention some digital signatures as well, you can enter it directly here. So rest all set. Whenever you have set it completely, just go back by pressing Escape, and now we can exporte it. The location is set, but we want to change the path folder path, I'll change it to up, go back up. Go to the C drive tell reports. And select that. Export this. And as soon as we export, it will immediately open up the profit and loss in the PDF format, and that's how it looks. So this is how we can export the profit and loss account in teleprime. Just try this by yourself, and I will see you in the next one. 38. Extracting Balance Sheet Report: This video, we are going to see how we can extract the balance sheet report. As we can see here, we have already extracted the profit and loss report. I'll just go back to the main gateway of Tel and from here on the face of this gateway. I can see this balance sheet report. Now, once we click here, we can only see the Tableu format, but that is the old statement style. We want to convert it in the statement style or the vertical style. And also, if you notice, we can only see the group reports and not the individual ledgers or individual accounts. So if you want to see the detailed report, I'll just hold the alternate key in my keyboard and press F one. So that should show you the individual details, but still it is in the table format. Want to convert it into the statement or vertical format. On the right hand bottom corner, we can see this configured option, click here, and we can convert this one to show vertical balance sheet. It's set to no, I'll change it to yes and press Control A, and now we can see the vertical format of the balance sheet, which shows the fixed assets, current assets and liabilities and all the other stuff. And as we know the accounting equation capital is equal to asset plus liabilities, so it's showing according to that. You want to export this, I'll just click on the export from the top and choose the current report, and we want to extract it in the detailed format. The vertical sequence will be followed. It will be in the PD format, but if you want to, let's say, change it to Excel format, I'll just click on configure and there we can make all the customizations, including the file format. In the file format, I'll just hit Enter so that we can see all the other options. As you can see, you can alsovert it in JPAC format if you want to. But since Excel is more convenient for me, I'll change it to this. Also folder path, we will change it to our customized folder path. I'll just go one step up and again, one step up. And in the C drive, I've created a separate folder named Tel reports. I'll place it here. Just select it once. If you want to change the file m, you can change it from here directly as well. Otherwise, if all done, just go back pressing Escape and now we can export it. So once it is exported, it will automatically open it for you, and this is how you can extract the balance sheet report. In tel prime, just try this by yourself, and I will see you in the next one. 39. How to Drill Down in Sub Reports from Main Report in Tally: You, we are going to see how we can drill down into sub reports from our main report. Let's say that we have extracted the balance sheet report, and we can see all the balances, but we know that some balances or some ledger contains even further details like account receivable, this shows the total. But if you want to show the individual customer details as well or go into the further report, you don't need to go back and extract it from somewhere else. We just hit Enter, and it will take you to the details of that. As we can see, all the customer balances will show up here now why it is showing only one customer? That might be because the other customers have already cleared this balance and only we need to receive from this particular customer. And if you want to drill down into the further details of this particular customer as well, just hit Enter once again. It shows you the month by month summary report. Trade enter, and now we can see the individual customer report with all the sales that we made, all the credit notes that we receive, and all the receipts that we have made, along with the opening balances, the transaction during the year, and then the closing balances. So this is how you can drill down into the further sub reports dictly from the main report. Just try this by yourself, and I'll see you in the next one. 40. Report Customization in Tally Prime: With you, we are going to learn how we can make some amazing customizations in D reports. For example, if you want to see the monthly profit and loss separately or even daily, we can just go to the gateway of Deli and extract the profit and loss report first. Now, this is the overall profit and loss for the period of first of January till 31st of January. And this is the detail of it. But let's say that I want to see the per day profit and loss account. Let's say I am in any kind of retail business or the store and I want to see the total profitability and sales on a daily basis. What I can do is on my right, I can see the auto column option. The short key for it is N with a combination of alternate. So click here, and here we have the choice of either we can extract four week month report, daily report, four nightly, half yearly, monthly, so however we want. Let's say we want it daily. As we select daily, it will extract the daily profitable loss for us. Now in this particular example, we don't have the indirect expenses mentioned for each separate day because we have recorded all of our transaction nearly on 31st of January. Here you can see, we have the profit and loss for each date 28 January, 29 January, 30th January. So this will be an amazing report for you, especially if you are in the retail business. One other very amazing feature of Deli is you can filter any kind of search in Deli. For example, if we go from the main section to display more reports and Dabook there, as we know, all the transactions are shown. But let's say I want to see and search for any particular voucher type. Let's say I want to see only the payments, and that's it. What I need to is just press Alternate F 12 on my keyboard. You can now apply filter by pressing Control F. So apply filter now. Yes. That means I can also press Control F to apply the filter. Apply filter on the vouchers, and I want to look for payment, it entered, and now we can only see the payment here. From here, if we want to switch to the default settings, I'll just press Escape once and it will remove the filter. Similarly, let's press Control F again. And now we can set the advanced filter as well on our right. We can see the advanced filter. So I want to filter the voucher. So let's say now we want to search it by a particular narration, let's say that here it is mentioned paint and renovation. For example, let's say that paint and renovation, I have created the ledger of repair and maintenance and I don't know where I have put the paint and renovation expenses. So in that case, I have to search it in the narration. So in the advanced filters, I'll choose the voucher and with the narration, we can see all the fields here, but we want to search a particular thing in narration. Narration that contains What? Paint. So in whatever narration it contains the paint word, it will filter out all of the transactions from a long data. Hit Enter end of the list, and there we can see. Even if the legend name was repair and maintenance, it actually find it from this narration right here. Or let's say, I want to search for an expense of Shop. Now, the legend name is only paint and renovation. Let's apply this. It escape to clear the filter. Now let's press Control F. Go to the advanced filter, and I want to search it in the narration containing Shop. Hit Enter, end of list, and these are all the expenses that we incurred for the shop. We paid the security deposit for the shop. Here it is mentioned. Shop is mentioned here, so it automatically filters it out, and same goes for paint and renovation. So these voucher filters are very effective, especially if you're working in the real time scenarios where the data is much larger in quantity. Now, similarly, you can try and apply different filters for example, I want to apply the amount filter. That means that I want to filter all the expenses or any kind of amount that is 5000-10 thousand. I'll just press Control F, advanced filters voucher under the voucher, I want to search it according to the amounts. I can also write amount directly here so that I don't need to find it manually. Leger amount should be greater than 5,000. And again, I'll press and voucher amount with the ledger amount. Less than or equal to less than or equal to, I can mention that as well. 10,000. End of list, and now it has filtered out all the ledger amounts that is 5-10 thousand. That's the power of all the filters and even the report customizations that you can do not only in the balance sheet or profit loss, but also in whatever report you want. For example, Trial Balance, I want to see the monthly trial. I'll just click on auto column here and I can split it in multiple columns. Keep it monthly and hit Enter, and now we can see that we can extract the trial balance for each month. Now, the trial balance rule is, whatever is the closing balance will be automatically transferred to opening balance of the next month. So that's why it's showing the same balance in every single trial balance. So that's how you can customize the reports in Day prime. Just try this by yourself, and I'll see you in the next one. 41. Introduction to Manufacturing Company Project: Video, we are going to start our new project that is a manufacturing company assignment. Now, what is the difference between trading and manufacturing company? Trading company just buys the stuff from the market on the wholesale rate and then sells the same product at the retail prices. While the manufacturing company buys the raw material from the market, then produces it into some other thing and then sell the finish codes. So this is Empire textiles. The business of Empire textiles is they buy the raw materials like cloth, like bookrm threads, zips, button shirts, and button pens, and they produce two finish quotes, that is shirts and pens. So the recipe management system or the bill of material word that you might have heard earlier as well is very, very important in this particular scenario. And we will consider the same situation that the company was operating for many years, but they were working either manually or they were working on, let's say, Excel or some other software, but now they think that Teleprime will be very suitable for their business, so they have planned to implement it. Now, what is the implementation? Close the ledger for the last months as the closing trial balance to extract all the individual ledger details, whether it's individual ledgers of bank, cash, debtors, individual customer, individual suppliers, and all the inventory details. You take the closing balances and then make it opening in the new software, and that's how we implement it. So once the balances are all received from the client and we put it in the software, that means we will be live on system, and then we will start working on the day to day transactions that I have mentioned here. So this is a very interesting project that you can get with the resources section of this video. So let's get started on this. In this video, we are going to see how we can create a new manufacturing company in Teleprime, especially if you have already worked before with a company in Tprime and it's already opened in Teleprime so we will see how we can open a new one. Let's close out of here and let me show you from scratch that if we open the Terry prime from the main desktop screen from the shortcut, and we continue in the educational mode, you will notice that it will automatically open the company. But if you want to shut this to create a new one, what you can do is on the top, there are some options, and we have the company option here where we can choose the shut option or otherwise, we can just directly press Control F three. Control F three. Will ask you from the list that what company do you want to shut? I want to shut this company, hit Enter, and now this company will be shut. Now we see all the other options that is create the company, select a remote company or choose any specific path. I want to create a new company, hit Enter. And we are on the main screen now. The company data path is already set. Like I said, these are all live company files, so I prefer to keep it in some other drive. But in my scenario, I have created a separate folder because I just have a C drive where I have put all my important documents in the D drive as a folder. I have created the D drive as a folder, and then Tell Backup is the ultimate folder name where all the company files are there. But in your case, you can just directly change the extension to derive and write an extension like that, and you can specify any particular folder if you have created that. But I'll stick with this path. And the company name is Empire textiles. Just copy the name from here. I'll paste it here, put a space. Mailing name will be the same address and all the basic information can be mentioned later on. The country is United States, and we can mention all the essential details like Pincode, phone number, fax number, and all later on. And the books or financial year is beginning from first of January. Of the current year and books beginning from the same date. Like I said, the books will only begin from a different date if you have created a new company and you have started your operations during a particular financial year. For example, the financial year is normally from first of January till 31st of December. But let's say that you have started your business in first June. So in that case, the books will begin from first June while the financial year will be starting from first of January. But in this case, since the client is operating for many years and now they are planning to shift from other software to the in this case, books will also begin from the same date when we transfer the balance. So press Control A, and the company is created successfully. But if you want to enable some more features, you can enable it directly from here or we can even add them or activate them later on. No problem with that. Press Control A, and now we are on the main gateway of Tel which is the main screen. So this is how you can create a brand new manufacturing company in Telprime. Just try this by yourself, and I'll see you in the next one. 42. Creating a New Manufacturing Company in Tally Prime: Video, we are going to see how we can create all new ledgers in Teleprime once we have created a new company and also how we can put all of the opening balances. So let's see. 43. Entering Legders With Opening Balances: This is a new company, and we have to implement Tele prime as if the company was shifting from other manual accounting system to computerized accounting system. So we have asked our client to give us all the ledgers, closing balances so that we can make them opening. Here we have the list of all ledgers as an opening trial balance. We will enter all of the ledges besides three. That is debtors inventory, which is stock, creditors. Why? Because when we update the individual customer detail along with their balances, it should make up the total, which is exactly the same and will automatically be updated as a receivable total. So this is a control account concept where the control account is the final balance of the breakup that we have as customer and individual balances. So we don't need to update this in Teri prime. Same goes for stock and creditors. So let's start entering and creating the ledgers, and then we will see the further details. From the gateway of Tell, I'll just click on Masters and go to create option. And under the accounting Masters, we will go to the ledger. Here, this one is an individual or single ledger creation mode where we have to create the ledgers one by one, by putting the opening balances, then we press Control A, and then the list goes on, although this is also efficient, but the more efficient method is if we get the option to enter all the ledgers and their balances on a single screen. So if you want to do that and enter all the multiple ledgers together, just press Escape Escape. And from the gateway of Tell I'll just go to Chart of Accounts and we click on ledgers. Here we only see the group details of the list of ledgers, but we want to create it from multiple masters. On our right, we have this option. Just click here. We want to multi create the ledgers. Under group, I'll not specify any particular group because each of them is related to a different group or different nature of account. Some are liability, some are banks, some are security deposit, and some are fixed assets. So that's why I'll not specify any of them. The first ledger is Citibank, I'll just copy and paste directly here. Control C and control simply to copy and paste. As I press Enter, I go in the next field, and under the group, these are basically the nature of accounts. Now there are five basic nature of accounts, that is asset liability, capital income and expenses, but these are the subcategories of it in order to present them better. So asset can be broken down further into current asset, then it can be broken down into bank accounts. So you need to closely observe which one is more relevant group to that specific ledger. So like Citibank, it can be called a current asset, but the more relevant one is bank accounts. I'll put here. Copy and paste the balance right here and paste. By default, it is an asset, so it's showing debit. Perfect. Let's hit Enter. Go on the second line. Then Bank of America. I'll just copy and paste this. It will be under bank accounts, and I can just copy and paste the amount here, hit Enter, go on the second line, standard chartered bank. Now, it looks like this is a bank account, but this account is only opened with the bank in order to get the loan. So basically, it is a liability account. I'll just copy and paste this I'll choose it as loans liability. Since the loans is a liability, it will be credit in nature, which will be automatically suggested here, as we can see. Credit is automatically suggested. I'll just continue with this. Hit Enter to go on the next line. Next, we have cash, hit Enter. Now when we create a new company in Delprime, the only legend that is created by default is cash. So to make it smooth, we normally delete the cache ledger as well so that we can give a fresh start. But in this case, since I forgot this, what I can do is, I'll just remove this for a moment. And let's say that we want to continue the ledger creation part later on. We have created some ledgers and we want to continue it later. That's a very practical scenario where we have to create multiple ledges, even hundreds and thousands of ledgers. Press Control A, just go back, and let's say I want to delete a ledger and then continue with multiple ledger creation. Until now, I want you to create these multiple ledges from the multiple ledger section and then save it, and then we will learn in the next video how we can delete a specific ledger, and after that, we will continue with the multiple ledger creation mode. Try this by yourself, and I'll see you in the next one. 44. How to Delete A Specific Ledger in Tally: We are going to see how we can delete any particular ledger in Gateway of Tel because when we create a new company in Tel prime, the only ledger that we get automatically is the cache ledger, but we want to make the ledger creation process smooth, so I don't want any ledger to exist. Just because this is only showing the case ledger which is not very useful, maybe if we get the full list of ledgers, it would be helpful. But in this case, I want to delete the cache ledger as well. So from the gateway of Teddy, if you want to delete, just click on Alter and select the ledger, select the cache ledger, and if you want to delete, hold the alternate key, then press D with the combination and press yes. Y for yes, and are good. So this is how we can delete a particular ledger in Teddy prime. Just try this by yourself, and I'll see you in the next one. 45. Entering and Altering Ledgers From Multi ledgers Option: We are going to see how we can create the ledgers all from the multi ledger creation mode. From the gateway of tel, I'll just click on the chart of accounts and select ledgers. There we get the group details only. But on the right hanside we have the multiple Masters option. So if we want to create the brand new list of ledgers, we click on Multi Create from here. But if you have already entered some of the ledgers like I did, we can click on multi alter. And select all items. So not only we can add new ledger and create new ledgers, we also get the list of existing ledgers as well. So hit Enter and go on the next line. Now, according to this project, we will enter all of the ledgers. Besides these three, which is control accounts, that is debtors inventory and creditors because when we update individual customers along with their balances, this balance will automatically update. Same goes for inventory and same goes for the payables. So let's go to the next one by skipping this one. Rent security is next Copy and paste that. Since it is a security deposits, I'll choose deposits assets as a category. Copy and paste the balance right here. It will be debit by default. Next, we have machinery, which is a fixed asset. So just choose fixed asset here. Copy and B is the balance. It is debit. Next line, accumulated depreciation of machinery. I'll just space this one. It is a fixed asset, and the balance should be in the credit side because this is a contra asset. That means all the depreciation charged until now over the period of years is combined as accumulative depreciation and will reduce the overall fixed asset value. So it is basically categorized as a fixed asset to reduce the value, but it is separately mentioned as a separate ledger so that we can trace the original value of the asset and then the depreciation as well. And since fixed asset is by default debit in nature, we have to manually put a credit sign on it. Now, if you want to learn more about the accumulative depreciation and how it is a contra asset, I've attached a document with the resources section of this video that you can check out. We'll show you different examples on how we can deal with this and what is the accounting treatment of it. So let's move back to our assignment, and the creditors, I'll just skip it because when we individual enter the supplier and balances, it will automatically update. Next one we have is accrued expenses, just copy and paste that. And this is our current liability. I'll just choose this one. Copy and paste the balances right here. It's automatically credit because it's a liability. Sales tax pable I'll just copy the past that, and it is also a current liability. But if we have a better category in the liabilities, we can choose that. I think current liabilities is a better option, and this one is charged as credit as well. Now, next one we have is general reserves, and let's find a better area for this. So reserves and surplus, I'll charge it here on credit side, hit Enter. The last one we have is net owner's equity. I'll just space that. This one is a capital account, and the balance is like here, it's a credit balance, and all the ledgers are entered along with the balances and details. So press Control A, and this is how not only you can create new ledges, but alter the existing ones so that you can continue with creating new ledgers in teleprime. Just try this by yourself, and I'll see you in the next one. 46. Customer and Vendor Opening Balance Details: Video, we are going to see how we can update the customer details along with their opening balances, as we can see here in this particular project, that the Empire Textiles, which was a manufacturing company was operating for many years, but they were either operating manually or for or on some other accounting software. Now they have planned to shift on the Tell prime. So that's why we are entering all the ledgers along with the opening balances. But here we have seen the scenario that debtors account receivable. We haven't entered Why? Because this is a control account balance. That means when the individual customer, along with the balances are updated, it should automatically update the control account balance as well, and same goes for stock and creditors. So that's why we haven't entered this. Now that we have entered rest of all ledgers, it's time to enter the customer along with the balances. So let's see how we can deal with this in teleprime. First of all, let me show you guys that just make sure from the gateway of Tel that you are in the right company and our company is Empire Textiles. So if you are not in the right company, on the right hand side, you have the company option. You can select the company just go in here and you will see list of all companies. If your company is not located in that particular location, you can just go up to the previous location or some other area where the company backup are taken. And after that, you have to select your particular company, make sure it is highlighted, and then start entering the details. So here we have two choices to enter the customers. Either we can enter it from the single entry mode or we can enter it from the multi entry mode. The masters, I'll go to create and select ledgers. And if you want to one by one, enter all the customer details, like we will mention the name here, we'll mention the nature here, which is sundry debtors. Maintain bill by bill balances, default credit period. If you want to define any, you can enter that. Check for credits during voucher entry. I'll discuss all of these details later on. Just move to the last step, and we can mention the customer balances here. 550,000 for the first customer, it's a debit and press control A. So this is the first customer balance entered. But if we don't want this to be entered separately each and every single time, because we have a long list, what we can do is just go back. And from the masters, we'll go to Chart of Accounts. And from the chart of accounts, click on edgers. Here we see list of all the groups and ledgers, but on the right, we have the multiple masters as well. Just go in here and since we have already created one customer that we want to see in the list and then also continue with creating new ones, we can go to Multi Alter. But otherwise, if you're creating for first time, you can go to Multi Create, both will open the same screen. Only difference in multi Create is you will get the existing customer details as well. So since these customers are entered in Sunday dators, you can choose this one or otherwise, select all items. But in this scenario, you will get the complete list of letters that we have entered before, along with the customer details that we have just entered. So if you want to continue with this, that's great. But if you just want to enter brand new, let me just show you that as well. Go to Multi Masters and click on Multi Create. And from here, we get a clean list. Just only remember that we have already entered the first customer, and let's enter the second one. Ryan and Sons, and it goes under Sundry datas. But just remember that Sundry datas is an old name that is used for account receivable. So let's say that you want to change the name, you have to go back after choosing. First, you have to choose this press Enter, you will go to the next line, but if you want to go back to the previous column, just hit backspace and then alter it directly from here just by holding the Control key and then pressing Enter. And we can rename this as account receivable. So not only will change it for the existing and all the new customers, but all the existing customers as well that we have already entered, let's say we have entered HK Brooks, so it will change the name for that in the background as well. So just space this 600,000. Now, it says, do you want to mention the bill wise breakup at the opening position? Since this balance is a compilation of many invoices, we don't have the record of all of that. So I'll just ignore this. But if it is against a particular invoice, you can mention the details as well. I'll just hit Enter and Enter to Ignore. Next one we have is Archer and sons. It goes in account receivable, and the balance is 200,000. On the debit, it'd enter and Enter. And the last one we have is Squad Anderson, account receivable, and the balance is 300,000. On the debit side, it enter and enter. Now if we want, we can save it at this point and then start entering the vendors. But since the vendors is entered in the same way, we will just continue with this. This is the vendor name. It goes in Sundry creditors. But Sundry creditors is an old name. Again, if you want to change this, the procedure is what? You just press a backspace to go in that particular column and then hit what? Yes, Control Enter, hold the Control key and then press Enter, and then you can enter or rename it as accounts payable. Don't need to change anything. Press Control A. This is a simple setting, and 270000 is the balance on the credit side. Do you want to build wise breakup? No. Next is Wallas and suns. Just paste this. It goes in accounts payable. And copy the balance, paste it right here on the credit side. And the last one we have is star textiles. So hit Enter accounts payable. Balance is 495,000. Make sure it's on credit side and press control. A, and now we have all the receivables and payables along with the individual details created. We just want to confirm it from the trial balance that whether we have the same balance now or not, so I'll just press Escape and scape to go back to the gateway of Tel and from here, we want to check the trial balance. So click on Display Moe reports and click on Trial Balance. From here, we can only see the group details and not the individual ledgers. So if you want to see it, hold alternately and press F one. This shows you the complete details of individual ledgers. Let's confirm once in the current assets, we have the account receivable, 1,650,000. So this is exactly the same. And if you want to see the details, just double click to see the details. It has the balances of Archer and Sons, HK Brooks, Ryan and Sons, and 300,000 for Scott Anderson. So this makes a total to 16 50,000. Go back and then select accounts payable. And we have the total balance of 10425 double zero. Here it is. Double click and you can see the details right here. Apex Enterprises 270000. Star Textiles, it is 495,000. And the last one we have is Wallace and Suns, which is 2775 double zero. So this makes the total. So all the balances are correct, and this is how you can enter all the customer and vendor details along with their opening balances in Teleprime. Just try this by yourself and I'll see you in the next one. 47. Inventory Opening Balance and Control Account Linkage: We are going to see how we can enter all the inventory items along with their opening balances. As we can see in this project that we have entered all the ledges, but we haven't entered the inventory stock details. Why? Because when we entered the individual items along with their opening balances, this balance should automatically update. So this is a control account which is automatically updated once the individual details along with the balances are updated. So let's see how we can do this in teleprime. First of all, from the Gateway of Tele, if you want to enter the multiple masters, we can go to the chart of accounts, but in the chart of accounts, we will go to the stock items. Go to the stock items and select ultimasters on the right, and select Multi Create. This will show you the screen where on a single screen, you can enter all the inventory items along with their balances and all details. Now at this point, we are supposing that inventory opening balances is only of the raw materials and not the finished goods. Let's say that before closing off a year, the company policy is to sell off or dispose of all the finished codes. And this is an ideal scenario, but we are supposing that we only have the raw materials as an opening balance. So this is all the balanced retails. But for that, since this is all raw materials, we need to create it under the group of raw materials. Is not created, but don't worry. Even if you are in the multiple stock item creation mode, you can still directly create a group from here by just pressing the alternate CK. And from here, just mention that these are all raw materials. Press Control A, and now let's start entering the items. First item is cloth A. It goes under the nomtils Unit is not defined. We need to create it alternate C. Now, there are two types of unit that can be configured. One is simple. That means you simply have a simple unit of Mar like meter like KG. But if you want to define the smaller unit proportion, according to the bigger unit like one KG contain thousand grams, something like that, then you can go and create compound as well. But in this project, we will create simple. I'll explain you compound later on. Simple. The unit of M is not mentioned here. It's mentioned here in the bill of medial section. So cloth unit of Me is meter. Symbol is M, the formal name is meter, and I'll just keep the decimal places 20 or since the meter is also in the decimal places as well, you can define two here. Press Control A, the opening quantity is 8,000 units. Red is 100 and this makes the total to 800,000. Go on the next line. Next item is cloth B. It goes under raw materials. Unit is meter. Total number of units or ui is 7,000 meters. Read is 150, and this makes the total 21050000. Hit Enter. Next one we have is bookrm goes under raw materials and bookrmUnit Mire is also meter. Total 15,000 units are there, and the cost for each is 10/meter. This makes a rural 2150000. Next one we have is thread. It goes under raw materials and the unit of Mier for this is cone. Thread is in cone. I'll just hit alternate C and C is the symbol. Formal name is cone press Control A, 10,000 units. Rate is ten, and this makes the Rule 200,000. Press Enter. Next one we have is zips. Unit of Mayer is each, as you can see here, alternate C. Symbol is E, formal name is each, and the decimal places, I'll keep it to zero, Control A, 7,500. Cost is 15, and the total is 112 500. Hit Enter, Enter. Next is button shirts. Copy and paste that. Unit is 30,000 units, goes under E. Button shirts unit of May is each, right? So it's 30,000. Cost is one, and the total amount is 30,000. Go on the next line. Next one we have is button Pens. Goes under raw material unit of my year is each and 5,000 units. Red is five, and this makes the total to 25,000. So altogether, we have this inventory along with the opening balances. The totals are not mentioned here, but we have to confirm individually before finally saving it. 800,000, 1050000, 150,000, 100,000, 12,500, 30,020 5,000. All set, press Control A, and this is how we can enter all the stock details. Now, let's go back. And finally, before continuing from the gateway of Terry, just go to display more reports and click on the trial balance in order to see this. Let's enter the details, alternate F one to see the details, and the opening stock is shown at 22675 double zero. All set. But we can see that still there is difference in opening balance. Why? This is of 4,400,000. You might have remembered that when we were entering all the ledgers, we deleted the case ledger just because the cache was already there, and then we forgot to enter the cash balance. So no worries. We just need to go back. From the gateway of Teddy, we'll go to the masters and click on Create. I need to create a new ledger. So the select ledger. The name of the ledger is case. It goes under cache in hand, and the balance we will mention is 4,400,000. As a debit and Control A to save let's go back to the gateway of Tel, click on Display More reports and go to the trial balance. And now if we expand this, we don't have any discrepancy or balance difference here. The only thing we need to confirm just before moving forward is whether the debits and credits are showing exactly the same position as we have in our project. So 246175 double zero on the debit end credit side exactly matches this one, and this is how you can enter the inventory details along with the opening balances in Tel prime and reconcile the final opening trial balance. So just try this by yourself, and I'll see you in the next one. 48. Creating Finished Goods and Defining Bill of Materials For Each: Where we are going to see how we can manufacture the finished coats from raw materials following our recipe management system or bill of materials. So our business is that we buy the raw materials from the market and then produce the finished codes, and the finished goods is shirts and pens. Now, there involves a specific recipe which needs to be followed in order to manufacture a shirt. One shirt needs two meter of cloth A, one bookrm one cone of thread, and eight buttons. Similarly, pens involves two meter cloth B, 1 meter bookrm one thread, cone, and one zip and one button of pens. So this recipe needs to be followed, even if you want to manufacture one shirt or 1,000 shirts, the same method will be followed. Now, what bill of material or recipe management does is it makes the connection between the raw materials and the finished goods so that whenever the finished good is produced, it will automatically reduce this proportion from the raw materials, for example, if we are manufacturing 1,000 shirts, it will automatically deduct 2,000 meters of cloth A from the raw materials and then transfer it to a finished goods in order to create shirts. Same thing goes for pence, but for that to be created, first of all, we need to create the finished goods, and then we can decide and define the recipe. So let's move to teleprime and let's see how we can do this. First of all, from the Gateway of tel, I need to create the items. I'll just go to create and from here, just create stock item. Now, just remember if you want to create the recipe management system, then you need to create stock items from a single item creation mode. Otherwise, you won't be able to enter the recipe. First item is shirts, and the category, we only have the category of raw materials. I need to create a new one, ordinate C, and this is finished goods. Hit Enter, Enter, Control A, and it is sold in pieces or each. Now the recipe management option is not enabled by default because this is an advanced feature. I'll just go to the configure from the bottom right. And if you want to see more configurations, just double click this in order to see that. It says here, set component list bill of materials in stock items. Just turn it to yes by just double clicking, Control A, and then you should see a different option here. As we said in the starting, at the opening position, we don't have anything of finish codes in stock already. So we don't need to enter any kind of opening bans. We just need to define the recipe. Set component bill of materials, just double click to turn it to yes and enter. And it will ask you name the bit of material. So I'll mention it as shirts, hit Enter. So this is component of shirt. How many units do you want to manufacture? Just remember that whenever you are making a recipe, you make the recipe of one and the same recipe will be followed whether you want to manufacture one, ten or 1,000. So we want to define the recipe for one shirt only. What is required to manufacture one shirt? We need cloth A, 2 meters. We need bookrm 1 meter. We need a thread. One cone, and we need button shirts. That is eight. We need eight button shirts, and that's it. Control A, and Control A again, and then finally press Control A again. Now one item is set. Let's go for the second one. This is pens. Group is already defined. I'll just choose this finished goods. Unit is each set component bill of medial, and it is for pent. How many pens do you want to manufacture? One. And what is the recipe for? For one pint, we need 2 meters of cloth B, cloth B, 2 meters. We need bookrm, 1 meter. We need thread, one cone, we need zips, one each or one piece, and we need button pints, that is one. One each. Press Control A, press Control A, and finally, press Control A to save. And this is how we can not only create the finished codes, but also define the recipe management system for each finished codes. Just try this by yourself, and I'll see you in the next one. 49. Accrued Expenses Paid By Cash: We are going to see how we can deal with the accrued expenses paid by cash. And this is transaction for the month of January, now that we have implemented the system. What does it mean? If we go to the Sheet one of this project, we have already seen that the scenario was the empire textile was operating for many years, but they were either working manually or on the computerized accounting system. So they wanted to shift their system onto Terri Prime. So what we have done is we took the balance of the last year closing trial balance, and we have created the opening trial balance. We created all the ledgers and put their opening balances. Then we went to customer and their balances, we entered that suppliers and balances, we entered that. We have entered all the inventory, individual balances according to the assignment and entered all the units and details. We have also created our recipe management system. And finally, we checked it against the opening trial balance to reconcile this. That means we are now live on the system. From now on, we can simply use the system as we normally did earlier for, let's say, the company was operating manually. So now they can fully work on the system after implementing this. This is all the steps related to implementation. Now the date t d transactions comes, that means all the routine transaction. So on first of January, it says accrued expenses paid by cash. Now, just remember, guys, before entering any of the transactions that we are using the educational version, as you can see here, teleprimeE ducational. That means all the functions can be used, but we only have the date restriction. Either we can enter all the transactions on first, second, or 31st. So these are the choices between the transaction. We can enter first January transactions, we can enter transactions on second January, or otherwise, we can enter the transaction on 31st of January. During the months, we cannot enter it for all the dates. So since we have this project for all the dates, what we will do is we will enter some of them on first and second and rest all, we will enter it straight away on 31st of January in order to make the function smooth. So let's enter this first transaction. Since this is a voucher, Tel is divided in two parts. One is called masters, one is called transaction. So anything which is created for the first time, that means we have created the ledger. We have created some customers. We have created some vendors or inventory items, all were created from masters. And now that we have created all these things, all the day to day transactions like payment, receipt, journal entry, purchase order, anything which is related to a transaction can be entered from transactions. And we have a simple area called vouchers. Each of the function is on the right, whether it's chondra receipt, journal, sales purchases, even sales and purchase order receipt note, all are within the vouchers. Now, just remember that in Delprime we have a specific area for each function, but the journal entry is used as a last resort. So accrued expenses paid by cash, since it is related to a payment, it can be entered from the payment. Journal entry will only be entered if the transaction is non cash and non trading. That means it shouldn't be related to a trading activity like buying and selling the cloth. Or buying and selling shirts, it should not be connected to a main trading source of the business, and it should be non cash as well. Like any kind of adjustment entry, prepaid rent is converted to rent expense, something like that, which doesn't involve cash. But this transaction involves the cash, so that's why we will use the payment feature for that. This is done on first of January, and we are paying this by cash. I'll choose cash and accrued expenses paid by cash. We need to check first on the first sheet whether we have any opening balance or balance due for accrued expenses. Yes, we have. Accrued expenses was 200,000 due, and we are paying this amount. So we need to clear this liability. So accrued expenses, I'll choose here in the particulars. Balance was 200,000. We are clearing all of this. And now the current balance, as you can see, is zero, hit Enter, go directly in the narration. And I'll just copy and paste this narration right here and Control A to save. And this is how you can enter the accrued expenses paid by cash in Deli Prime. Hit exit. And if you want to see any of the details of what is being entered, where does it go? From the gateway of Deli we just go to display more reports and check the daybook and all the activities can be seen here. As you can see, the first transaction is mentioned here. So just try this by yourself, and I'll see you in the next one. 50. Purchase Order Placement to Vendor: Video, we are going to see how we can enter the purchase order as we can see. On second of January, it says purchase order placed of cloth B to star textiles. That means we are placing the order to our vendor. We need these supplies in future. So let's see how we can enter this. Now in Tel prime, if you are in the Daybook, you can add the voucher directly by just holding the alternate key and then press A as for adding a new voucher. So either you can enter From here, or otherwise, if you are in the gateway of Tel, you can go to the transactions and then click on vouchers, which will land you to the same area. Now, to enter the purchase order, we need to click on the Eosign next to purchase option on our right. But as we can see, purchase order is there, but it's inactive. To make it active, we click on other vouchers. Here we see list of all the active vouchers, but we cannot see anything like purchase order. We'll just click on Show Inactive because these functions are by default, inactive, even the sales order, but I have made it active manually. So if you want to activate the purchase order, just double click and it will ask you, you need to activate the purchase order voucher type. Do you want to activate it now? Yes. So once we have done that, we are in the purchase order voucher creation screen. And now we start entering our purchase order. The party name is start Excels. So I just mentioned that. Hit Enter and Enter and continue through it. The order number is 124. Purchase ledger is not defined since we are entering the purchase order for the first time. So it's very simple to create press alternate C, and we will just write purchases here. And it goes simply in purchase accounts. So choose purchase accounts, and that's it. This is a little setting of it. Press Control A, And now we just start entering our items. We only have simply one item that is cloth B due to be delivered on, let's say, 31st of January. Quantity is 40,000. Rate is 150. This makes a tal to 6 million Control A, Now, like I said, since we are using teleprime in the educational version, that means we are only allowed to enter the vouchers either on the day first of any month or second date, which is second of January or February, or otherwise, we are allowed to enter it on 31st. So what we will do is for our E's, we will enter all of these transaction on 31st. So change the date, click on the date on the top, and just write here 31, and it will automatically change the date to the complete sequence. So just make sure the sequence is right, hit Enter, otherwise, you just have to completely mention the date. Just go to the narration and just copy and paste this narration right here and Control A to save. Now to locate all of these vouchers, we simply go to display more reports and click on Daybook and we can locate all of these transactions. If you are unable to see your particular transaction, you need to set a time period. This is only showing for 31st of January, but if we want to show all the periods from first of January to 31 January, let's say, we'll just go in the arrow next to the date and click on period. Click on right here first January until 31st January, and this shows all the details right here. So this is how you can enter the purchase order details. In Delibrime just try this by yourself, and I'll see you in the next one. 51. Converting Purchase Order to Purchase Invoice in Tally Prime: We are going to see how we can convert the purchase order to purchase invoice. As we can see here. On third of January, it says, receive cloth B from Star textiles against purchase order number 124. If you notice in the earlier transaction, it says purchase order placed of cloth B. That means we have ordered some of the items like 40,000 meters of cloth B to our vendor, and we have received that order, but partially. We have received 25,000. So just make note of that. And let's move to Telly. In the daybook, we can see all the transactions entered. If you are not in the Dabook, what you need to do is from the gateway of Tel, just click on Display Moe reports and click on Daybook and set the period to all dates like first of January to, let's say, 31st of December. Or let's say 31st of January. This will show you all the list of transactions. Now, there are two methods in which you can convert the purchase order to purchase invoice. Either, if you want to fully convert it by just removing the purchase order, what function do you have in Teleprime is just open this particular purchase order and simply click on purchase. What this will do is this will alter the purchase order. That means the purchase order will not exist anymore. It is converted to purchase invoice. And then you can mention the quantity however you want. Otherwise, if you want to keep the purchase order as well, you can create a duplicate voucher from the bottom. Just choose this, and in the bottom, we have the duplicate voucher option right here. Just click here and it will open up a duplicate purchase order. So convert this one to a purchase invoice on the right, just click on Purchase, and now we are in the purchase invoice. Just mention the purchase invoice number. The date is 31st of January. Party name is Star Textiles. We mentioned all the other details List of ledgers in the purchase ledger, we just mentioned the purchases, and the quantity that we are receiving against the order is 25,000. 150. This makes the total 23750 triple zero, and just mention it as a new reference, I will automatically pick up the invoice number. You can mention any due date if the supplier has mentioned that that let's say you need to pay it by 31st of January 2025 or let's say that if it says that you need to pay in ten days, just mention ten here and it will automatically pick up the ten days condition. So let's mention 31st of January, press Control A, and these are all the details, make sure the totals are correct, and then we can just copy and paste the narration right here and press Control A. So this is how you can enter the purchase invoice using the purchase order in teleprime. Just try this by yourself, and I'll see you in the next one. 52. Direct purchase of Multiple Items in One Invoice: Video, we are going to see how we can enter the direct purchase invoices in Teel prime as we can see on third of January, purchased falling items from Franklin Textile, that means we are directly purchasing the items. It doesn't say purchase order placed or received the cloth, something like that. So it happens when we purchase items frequently from a particular vendor. Many times, we don't follow the complete purchase cycle. Instead, we just enter the purchase invoice directly. So we have purchased something from Franklin Textile on credit, and the vendor offers 2% discount policy of the payment within ten days. So that means although the payment is by default due in, let's say, 30 days. But if we pay within ten days, we get 2% discount. So let's see how we can enter this. First of all, if you are in Daybook, you can add the voucher directly by just holding the alternate key and press A, alternate A is the short key to directly enter into the voucher creation mode. Or otherwise, if you want to make it from the main screen, gateway of Tell just click on vouchers, and there you are. We will click on the purchases on RR, and now we are in the purchase voucher. Supplier invoice number, I'll just mention that, and the date is 31st of January. We are purchasing from Franklin Textiles, and this one is our new vendor. So I'll just create the vendor Alternate C to just directly enter the creation mode. Right here, Franklin textiles. It goes under accounts payable. Now I have changed the name from Sundry creditors to account payable. If you haven't changed it, you will find Sunday creditors here. Mental billed by Bill Balances. Control A to save and rest all the details, I'll keep it as it is. Press Control A and Control A again. Purchase ledger is already created, but it's very simple to create Alternate C. You just need to press Alternate C to create it, and the settings are as follows. Just write the name as purchases, and it goes under purchase accounts. That's it. And now let's start entering the items. First item is zips. Order number is not applicable. Quantity is 8,000. Red is 15. This makes the total to 20,000. End of list, go on the second line. On the second line, we have cloth, A, order is not applicable. Quantity is 40,000, read is 100 and this makes the rule two, 4 million, Enter, end of list, go on the third line. Next item is bookrm. Order is not applicable. Quantity is 25,000. Read is ten. This makes it total 250000, end of list. Next we have is threads, quantity is 20,000. Rad is ten, this makes a total to 200,000. End of list, go on the second line. Next is button shirts. Order is not applicable. Quantity is 90,000. Ad is one, this makes a total to 90,000. Go on the next line, and next we have button pens. So right here, button pens order is not applicable. Quantity is 10,000, rate is five, and this makes the total to 50,000. End of list, and all set, you just need to enter the narration and we can mention that it is a new reference. It will automatically pick up the same invoice number that we have mentioned in the background. So this is it. You can just select all the figures to see the total and make sure the totals are correct, 4710 triple zero and 4710 triple zero here as well. Just copy and paste this narration right here. Or if you're unable to copy it from here, you just copy by just double clicking within the cell, and then just copy and paste the narration here. So all set. The only thing is of discount, but that we will only see when we pay for the discount. So this is how we can enter the direct purchases in teleprime. Just try this by yourself, and I'll see you in the next one. 53. Entering Sales Order of Finished Goods: This video, we are going to see how we can take the sales order from the customers even without the stock, as you can see here. On fifth of January, it sees sale order received from Scott Anderson and sales order number is 24. So we are receiving the order of shirts and pens from customers. Now, just remember that we don't have anything as a finished goods stock as opening balances, and neither did we manufacture the shirts and pens until now. But since the customer is already here, we cannot reject the order. That's the normal practice in all the manufacturing companies that even we don't have the stock, we still take the order. We take the time period to deliver the finish codes, and then we will manufacture it accordingly. Let's see how we can deal with this in teleprime. First of all, I'll just go to the vouchers, and on the right hand side, we have all the vouchers mentioned here. But the arrow next to the seals will show you the further options. Here you will see the sealed order, but it might be disabled. So what we need to do is we'll just click on other vouchers and click on Show in Active. And there you will you just need to double click on anyone that you want to enable. For example, I want to enable the delivery node. Same thing you do for sales order. So let's say this is sales order, I just double click here. I will show you activate now, and I'll select. So this is how you can activate this. Let's go to Sales Order. And since I'm using the teleprime educational version, that means the full functions are enabled, but the only date I can enter is first, second, or 31st. So I prefer to do all my project on 31st of January Customer name is Scott Anderson. And the order details, if you want to mention this and if you have all the details, you can mention it here. Otherwise, I'll just scrip through it by just pressing Enter and Enter. Order number is 24, so I'll just mention the order number. Since this is the first time we are entering any kind of sales, whether it's sales invoice or sales order, so we don't have the sales letter at the background. Alternate C to create a new one. It's very simple to create. I'll just write here sales, and it goes under sales accounts. That's it. Not applicable. Control A to save. And now we just start entering the items that we have received order for. So we have received the shirts order as soon as we hit Enter, we'll see the due date. That means on which date the order needs to be delivered. So let's say it's on 31st of January, quantity is 3,000 shares. It will show you the negative stock warning, but we can still continue with it, hit Enter. It's just an indication that you are taking the order against zero stock. So that's what we are here for. We are just entering this. So this makes a 1.2 million. Hit Enter, due on the second line. Just ignore this and go on the main screen first and then press Enter further to go on the second line. Now we start entering the second item that is pens. 31st of January, the quantity is 2000. And if it shows you the negative stock warning, just ignore that, hit Enter again. Rate is 500. This makes the total to 1 million. Press Control A, and press tab or Enter. In the narration, we can just mention, copy and paste this narration right here. Just make sure before saving that the totals are correct. And if all is fine, just press Control A to save. And this is how we can book a sales order against zero stock in ery prime. Just try this by yourself, and I'll see you in the next one. 54. How to Record Cash Withdrawal from Bank for Office Use: Video, we are going to see how we can record the cash withdrawals from the bank account. As we can see here on six of enrich is cash taken out of Citibank for office use. Now, just remember that this cash is not spent yet. This is just taken out of bank, let's say, from the ATM, and it is used to keep as petty cash. So basically, if we want to transfer the bank balance, two cache. So this is basically a journal entry, how we can book that. I'll just go to Gateway of Tell and click on vouchers from here. And from here on the right hand side, we have the journal option. Once we are in journal, if you can't see it in debit and cred form and you see the two and By format, you need to configure this to debit and grade form from the bottom right, click on configure. And once we see this option, you can change this to yes. Which says use credit debit instead of two by entry. I'll change it to yes and press Control A. And after that, since the cash is increasing, I'll just debit the cash with 25,000 against what? Against Citibank. So Citibank balance is reducing and we are withdrawing this amount in cash so that it can be kept as cash or petty cash, whatever. And we can mention the narration here. If it is withdrawn by bank account, we can mention it like that or otherwise, I can mention ATM here. If we have any receipt number, we can mention that. Copy and paste this narration right here, and that's pretty much it. Control A to save. Now, if we want to locate all of these transactions that we have just entered, we can go to Gateway of deli and from Gateway of Deli, just go to display more reports and click on Daybook and you should be able to see all your entries. If not, you can set the right time period by just clicking on the corner arrow next to date and set the period. I'll set it to first of January till 31st of January, and it shows you all the transactions right here. This is how you can book the journal entry of the cash withdrawals in Tell prime. Just try this by yourself, and I'll see you in the next one. 55. Receiving Partial Payment From Customers in Cash: This video, we are going to see how we can receive the payment from the customers in cash, as you can see here. On seventh January, it says cash received from HK Brooks and C in cash. So 120000 is the total amount. Let's see how we can deal with this in Tell. So if you are in the Daybook, you can directly just enter a voucher. Press Alternate A to switch directly to the voucher. And we'll go to the receipt on the right. We click on receipt. And since this is an educational version which only allows the deeds to be entered as first, second, or 31st, so to make all the assignment convenient, I'll enter all the deeds as 31st of the current month, and we are receiving cash from HK Brooks. So just select cash at the top and just write here HK Brooks, select the customer, and we are receiving the partial payment. That means 20,000 against the total balance of 550,000. So 120000, just mentioned that And if it is against some particular reference, we need to check first against reference. But if we don't have any reference, that means this is all recorded as an opening balance. Let's check the opening balance as well. So 550,000 all were opening balance, and the opening balance is normally recorded on account. So it is settled on account as well. 100,000, read it. Hit Enter narration. I'll just copy this one and paste it in the narration, Control A to C. So this is how we can record the payment from the customers in Teleprime. Just try this by yourself, and I'll see you in the next one. 56. Receiving Partial Payment From Customers in Bank: Where we are going to see how we can receive the payments from the customers in bank account. As we can see here, on ninth of January, it sees cash received from Archer and Sons in Citibank. So we'll just go to Telly, and if you are in the Daybook, you will just press Alternate A to directly switch into the voucher creation mode. Or otherwise, if you are on the main screen, we can go to the transactions and click on vouchers, and we land to the same area. On the right hand side, we have the receipt option, so I am entering all the transactions as 31st of January because this is the educational version which only allows first second and 31st date to be entered. So we are receiving cash right, and we are receiving it from Archer and Sons. Total amount is 175,000. That means this is also a partial payment settlement. So 175,000. I'll just write that. And let's check against reference. We don't have anything against reference. That means it is all the opening balance that is settled. Hit Enter, Enter. And in the narration, I'll just copy this narration right here, past it, Indonation press Control A, and this is how you can record the receipt of payment from the customers in bank account. Just try this by yourself, and I'll see you in the next one. 57. Dealing With Vendor Payments With Early Settlement Discounts: This video, we are going to see how we can pay to our vendor in check and also obtain a discount for the early settlement as well. As you can see here on tenth January, it says, payment made in check from Citibank to Franklin Textiles against credit invoice number 1,200 in full within ten days to obtain 2% discount within ten days. So this is the total amount that we are going to pay 46158 double zero after discount. And this is the invoice that we entered on third of January, the total of which is 4710 triple zero. So the invoice was entered on third of January, and we are paying it within ten days, as we can see. So how do we get discount? Let's see. First of all, if we are in the Daybook, just press Alternate A to switch to the voucher creation mode. And from here, we'll go to the payments, and we are paying to Franklin Textiles from Citibank. So I'll choose Citibank here and we are paying to Franklin Textiles. And we are receiving the amount from Franklin Textiles. I'll just mention the whole amount that is 4710 triple zero. Once I enter this, it will show that you want to book it against reference. Yes, we do. Pending bills, I'll choose that pending bill and press all debit and press Enter. But we can see a different amount here after 2% discount. So let's extract that. This is the invoice total equals to sum, I'll just sum it up here. And let's take a 2% discount in here, which is approximately 94,200. So I'll just create a new ledger, alternate C. Just remember to go on the second line and then press alternate C to create the ledger. And this is discount received because we are receiving the discount. So it can be called an indirect income. Press Control A to save. Now we will enter this amount, but in minus it enter, and this should make the total of 46158 double zero exactly matches this amount right here. But unfortunately, you have to calculate it manually, and there's no percentage option here. If you want to see the journal entry effect of it, you can change this mode to a double entry system where we can see the entry in debit and credit form. So when the payment is made, the payable is reduced. So when the liability is cleared, it is debit and the discount is received. And on the other side, we should have discount received as 94,200, I don't know why it didn't show it properly. So on the credit side, we received the discount. So anything which is received as income should be credit, and Citibank is, again, credit 46158 double zero is the amount that we received. And Citibank is credit. That means we have paid it from our bank, and the total amount cleared is 46158 double zero after receiving a discount of 94,200. It's preferred to switch dish to debit and credit form, go to the other vouchers, go to the change mode and just change it to double entry, and you should be able to see this screen. We can enter a narration here as well. Just copy and paste this. It has some limit, but it is able to past the complete narration successfully press Control A, and this is how you can make the payment to supplier by obtaining 2% early settlement discount. So just try this by yourself, and I'll see you in the next one. 58. Handling Purchase of Services in Tally Prime: Video, we are going to see how we can deal with the purchase of services in Tele prime as we see here on 12th of January, purchase dying services from Shelby dying Mills. Let's suppose that whatever cloth we purchase for our manufacturing of shirts and pants needs some special dying, and these vendors have special dying units. That fulfills our requirements to dye the cloth in different colors because when the cloth is purchased, normally, it's in white color and it is dyed into different colors after that. So we're purchasing the services from Shelby Dying Mills, and this is our regular vendor that allows us to purchase on credit. So let's see how we can purchase the services in Teleprime. First of all, if you are in the daybook, you can just enter into the voucher creation more directly by just pressing the alternate A key. That means hold the alternate key and use the A key to add voucher. So control A. And we want to purchase the service. Just go to the right hand corner and select purchase. But by default, it shows name of item. We are not here to enter the purchase of items. We are here to enter purchase of services. So we need to change the voucher type. Just click on change mode on R, and we want to enter this as accounting invoice. Just choose that. Invoice number is 8796. Date, I'll keep all the dates to 31st of January because it is an educational version, so it only allows some dates to be entered. Shelby Dying Mills? I'll just mention the party name Shelby Dying Mills. But since this is a new vendor, I need to create one. Alternate C? Shall be nine mils. And this one will be mentioned as Sunday creditors, but if you have already changed the name to accounts payable, I'll just choose accounts payable here. Maintain bill by bill balances. Yes, we want that Control A, and not applicable, all of these details can be skipped easily, hit Enter and Enter until we see the main screen. So this is the main screen. In the particulars, we will just select the ledger in which we want the expenses to go or the purchase of services that we want to debit or charge with. So alternate C, I'll create a new ledger, and I'll just mention as dying services. It should go under indirect expenses or even it can go in direct expenses because this is directly applicable on the cloth that we are planning to manufacture into shirts and then ultimately sell it. So anything which is directly applicable on the items that we are planning to sell should be a direct expense. Control A, the amount is 25,000. Hit Enter. We don't have any other thing. Hit Enter. And this is a new reference. I'll just mention new reference here, Enter, Enter, Enter until we see the narration here. In the narration, we can just simply copy and paste the narration right here and press Control A to save. So this is how we can enter the purchase of services on credit in teleprime. Just try this by yourself, and I'll see you in the next one. 59. Dealing With Cash Purchase of Services in Tally Prime: Video, we are going to see how we can purchase the services from a cash vendor, which we might be using only for one time, as we can see here. On 12th of January, has purchased dying services from Anderson dying on cash. Let's suppose that our order is big and due to some emergency, we are not taking the services from our regular vendor, which is Shelby dying Mills. Maybe they are working on overcapacity. So that's why we have given some cloth to a dying unit, but this is not our regular vendor. This is just a random vendor. So in that cases where you are purchasing the service only for a single time and you might not be repeating it, we don't need to enter the vendor name. Instead, we will enter the services as cash. So let's see how we can deal with this scenario in Delprime. Since we are in the daybook, we want to add a voucher directly, hit Alternate A, hold the alternate key press A to directly go into the voucher, and we are paying at the same time as we are purchasing the service on the right hand side, we need to choose the payment. And if you just want to switch it to a single entry mode instead of debit and credit mode, I'll just change mode from here and select single entry so that it's more convenient, especially if you're a non accountant. So payment, I'll pay it by cash. And I am paying for dying services. So I'll just write here dying services, and that's it. I'll just mention the amount. Amount is also minor, hit Enter. And in the narration, I can mention this Anderson dying so that whenever I want to filter this out, I can easily extract this Control A. So how will we extract this? Let's say that I want to search this service in the whole transactions. I'll just go to the Daybook whenever you want to extract this. Just go to the daybook set the period from first of January to 31st of January. Or any relevant period you have. And let's suppose that I want to search only this name in the narration Anderson dying. It's very easy. Hit Alternate F 12 on the keyboard. What it will do is it will allow you to apply the filter. Or in the latest version of Telly, you can just press Control F to find, and I'm looking for some kind of thing. But if I paste it directly, I don't know whether it should be able to find it or not. Yes, it does. It does find it. I automatically identifies that I am trying to find something from the narration. So that's pretty nice. But otherwise, what you can do is if you want to specify for something else, you can just go to the advanced filters, and then you can search by criteria. I want to search for voucher in voucher, what do you want to search? Let's say I want to search for narration, narration that contains this text and hit Enter and end of list, and you can also add multiple conditions to it so that you can get more accurate and precise results. So this is how you can filter out anything you want. And that's how we can deal with the cash purchase of services in Dele prime. Just try this by yourself, and I'll see you in the next one. 60. Receipt of Customer Advances: This video, we are going to see how we can receive the customer advances against a sales order in Teleprime as we can see here, the transaction is of 12th of January and it sees cash received from Mr. Samuel Burns as advance for sales order. So the customer has given us 400,000 in advance against the sales order that you can notice in the very next transaction. We have received the order of shirts from Mr. Samuel Burns, the amount is total of 720000. So against that, we received some customer advance. Now, it's very easy and convenient to record the customer advances in Teli. Just go to the gateway of Tel and click on vouchers, and from here, we will switch to receipt. And since we are receiving cash, I'll put cash here and we are receiving it from Samuel Burns. Now, Samuel Burns is our new customer, so I'll just press Alternate C. Hold the alternate key, press C, and just write here, Samuel Burns, make sure the spellings are correct, and it should go in account receivable. But if you have the old name, it will be Sunday Dators. I've renamed it as account receivable. Benten Bill Bile Bill balances, yes, we want that. Press Control A. And now we want to receive the amount. We are receiving 400,000, and this is against advance. It will ask you how you are receiving this 400,000. I'll just ask that this is in advance, and you can mention any advance reference, for example, ADV 001, something like that. Press Enter, Enter and press Enter until we go in the narration field. Just copy and paste this narration right here and press Control A. And if you want to locate this transaction from the gateway of Tel, just click on display More reports and click on Dabook select the relevant period. Just click next. Just click on the arrow next to date and set the period from first of January till 31st of January, and it shows you all the transactions right here, and this one is R receipt. So this is how you can book the customer advances in Teel Prime. Just try this by yourself, and I'll see you in the next one. 61. Dealing With Customer Sales Order Against Zero Stock: This video, we are going to see how we can book the sales order received from the customers against the finished coats that we don't have in stock. As we can see here on TaltoGener Cs, sales order received of shirts from Mr. Samuel Burns. Now, we have noticed that in this particular project, we didn't have any kind of finished coats as an opening stock. We only had the raw materials as a stock, and neither did we manufacture anything yet. We are just preparing to manufacture. We have purchased some of the raw materials, and in the future, just after a few days, we are planning to manufacture some of the items. Right now we don't have anything is chock. So in this scenario, what we'll do, let's see. First of all, from the dbok I'll just press Alternate A to go in the voucher creation mode, and on our right, we have the seals button. Next to it is an arrow sign where you can find the seals order. If you have this not activated, go to the other vouchers, show inactive and all the inactive functions will appear. So let's say I want to enable rejections in. Consider this that if it is a seals order which is inactive, it will show you something like this in gray. Just double click to enable this and click yes. So same thing goes for sales order if you want to activate it. Let me just switch back to Seals order. And now the order template is very simple. Just I'll enter the party name, Samuel Burns. If you don't have these order details, we'll skip through it by just pressing some enters and same goes for the party details. Order number is 27. SLS ledger is already there. So select SLS. The configuration is pretty simple. Control Enter. If you want to create it for the first time, we just press A C and the name of the ledger is Seals under sales account. That's it. And the item that we are planning to sell is shirts. So I'll just select shirts here. Wise, just remember that sometimes what happens is you are working in some other company just because Telly, whenever you reopen this might open some other company. So if you can't see these stock items, that means that the company is not rightly enabled. Mine is correctly opened as Empire textiles, but if not, and you are using some other companies, that's why it might not be showing the inventory that you are looking for and instead, you see some other inventory. So it is preferred to shut the company, for example, you have Eli traders enabled. You just go to the company. Next to it is an arrow sign. Just click on Shut Company, shut it from here, select this and just open the next company. This is Empire Extles open. Now, let me just show you that when we quit this and when we open and continue with Teleprime again, it again opens Eli traders, so just make sure of that that you select the right company. Shut company. I'll just shut Elite traders, Empire Textils. I'll just open that. Al right now, let's continue with the voucher creation, and that was for sealed Order. I didn't enter that. So let's go to the Sealed Order. Next to it. Let's click on Sealed Order. Party name is Samuel Burns. And hit Enter and Enter. We'll skip through all of this part. And the date of order is 27. SP ledger, I'll select that sales ledger, and we're receiving the order for shirts, and now it should show the correct inventory. And the inventory is due on. I'll keep it all the dates to 31st of January. The items requested is 1,800. It shows the negative stock warning because we don't have any finished goods in stock yet, but this is the normal course of manufacturing companies that they take the order from the customers even if we don't have it, and we will produce that goods in future. So that's not a problem. Just continue by pressing Enter and right here 400, this makes a Rule 2720000, press Control A, and hit Enter and Enter, Enter, Enter. Go in the narration, just copy and paste this narration right here and press Control A to save. So this is how we can book the sales order in Deli prime. Just try this by yourself, and I'll see you in the next one. 62. How to Set Default Company in Tally Prime: This video, we are going to see how we can configure the default company that should automatically load when we start the software. So we'll notice that whenever we open Teleprime, it always opens some company that we have created at the earliest point. Let's say that we were working in Elite traders, a project before, and now we are working on Empire Textil but still it always open the earlier company. Let's continue in education mode. And as we can see here, it always open Eli traders, even though we are working in empire textiles, and that can create a lot of confusion, especially if you have entered a couple of vouchers, and then you notice that we are in the wrong company, so you have to delete that work, switch the company, and do the work all over again. So it can cause a lot of troubles here. So I want to either set the default company opening option to no so that it always ask us which company to open, or otherwise, we can set the other company as default so that every time that other company which we are currently working on should open. So on our right, we have the Help menu. If we are on the gateway of Tell Help menu, just click on settings from here, and from here, just click on Startup, which is the fourth option right here. Now we can see load companies on startup if you don't want the companies to load at startup, and it should always ask you which company to open. You'll just set it to no. Otherwise, if you want to set it to yes, we want to change the companies to load. One is already selected. We'll just change this. Double click here. And on our left, we can notice that the list of companies to load on startup is set to AI traders. I'll just select it to Empire textiles which our current working project and make sure it is selected on the left side and then click End of List. Now, just remember to save this as well. Otherwise, the changes will not be effective. Press Control A to save, and then quit the software, exit out of software, and just open that again. Continue in education mode, and now we will notice that every time we load the company, it will always be empire textiles. So that is how you can set the default company to open in teleprime. Just try this by yourself, and I'll see you in the next one. 63. Dealing With Expenses Paid by Card: This video, we are going to see how we can deal with any kind of expenses that is paid in either cash or by bank. As we can see here on 12 Jenr, it says traveling expenses paid by check of Bank of America, and the amount is $5,000. So let's see how we can deal with this. First of all, if you are in the gateway of Deli, we just click to vouchers from the transactions, and on our right, we can see the payments. The payments is disabled. Why is that? That's because we are already in the payment as we can see. Payment is already open. We are paying by Bank of America, right? And it is paid for traveling expenses. If we want, we can create this ledger as we were writing. We didn't find any ledger here. So let me just quickly create it. Alternate C, traveling expenses. It goes under indirect expenses. Ledger is not applicable, rounding is not applicable. Control A to save and 5,000. I'll just copy and paste this amount right here. Now, just remember that whenever you feel that Oh, I need some rounding details as well, we just go back to the ledger in the same document and just press Control Entry and we can make that customizations. Let's say that we are paying sometimes traveling expenses on the petrol pumps gas stations, and it's in some rounding as well. So we will change it to normal rounding. Rounding limit is two. We can change it to that and press Control A. So anytime it is deducted from the credit card, it will be fulfilled this way. So hit Enter and Enter, and now if we see the transaction type, we can specify that it is either from others or show more. It's either from ATM check card or whatever. Let's say it's by card, I enter, we can enter any instant number here, instance number. And hit Enter. That's just for the sake of example. It depends on your company real requirements. So I'll just copy and paste this traveling expenses right here. Just make sure that you enter the check reference here as well because it is very effective. Let me just show you in a couple of minutes, press Control A to save, and that's how we record the indirect expenses. But if you want to locate that against the check number, how do we do that? First of all, if you want to see all the transactions that you have just entered, we can go to display more reports from the Gateway of Tel and from here, we just click on Dybooks. Just click on the Aero sign next to the date and specify the period. We have the period from first of January till 31st of January. And here, let's say we just want to find the transaction according to the check reference. How do we do that? Just press Control F here, and in the basic filter, even that is very powerful in teleprime latest version. Otherwise, you can click on Advanced filter, but just try this one. Just write 8,800 here. And boom. You can see your transactions instantly. It automatically detects that 8,800 is mentioned as a narration in some particular document, and it is able to find this. So this is how you can record and find all the transactions based on cash. In teleprime, just try this by yourself, and I'll see you in the next one. 64. Dealing With Repair and Maintenance Expenses in Cash: This video, we are going to see how we can deal with any kind of repair expenses that it paid in cash. As we can see here on 14th of January, it sees repair expenses of office building paid by cash. So we are paying 55,000. Let's see how we can deal with this in teleprime. From the Daybook, if you want to switch directly to the voucher creation mode, Alternate A is the shortcut key, and we are already in the payments, but otherwise, you can switch it up from the right hand side. If you see this in gray, that means we are already in this document. Now, as we all know that Tele Prime education version only allows certain dates to be ended. It can be either one, second or 31st of any month. So I prefer to keep all my project on 31st. So I'll just change this date to 31st, and we're paying the expense by cash, right? So cash and repair and maintenance. Let's see if we already have this. If not, we will simply create it by just pressing the alternate C, which will take us directly to the ledger creation mode. And it comes under indirect expenses and press Control A to save. The expense total amount is 55,000. Hit Enter, Enter, and we will just copy and paste the narration, which is this one right here and press Control A to save. And this is how we can deal with the cash repair expenses in Teprime. Just try this by yourself, and I'll see you in the next one. 65. Dealing With Purchase of Fixed Assets in Tally Prime: This video, we are going to see how we can deal with the purchase of fixed asset in Teleprime as we can see here on 14th of January, it says Suzuki pick up motor vehicles bought by paying check, and the check number is 8802 by Bank of America. So let's see how we can deal with this transaction in teleprime. First of all, from the debook, I'll just switch to the voucher creation mode. It's very simple ordinate A, hit it. And in the payment mode, we are already here, and we need to deal with this particular expense since we are making the payment either by bank or check. We will use the payment voucher for that, and we're paying by Bank of America. Let's choose that. And the deed, I'll change all the deeds to 31st, and let's create an account. Let's check first whether we already have any kind of motor vehicles account. No, we don't have it. So let's create it. Alternate C, we name it as motor vehicles. It comes under fixed asset. All the other information is okay, press Control A, and now we are back on the screen. The amount is 50,000 and hit Enter, we can specify how we are paying this. If we are paying this by some other method, we can mention it like this. But let's say that we are paying by check, and this is the amount we can mention any reference number here, instant number, and in the narration, I'll just copy and paste that, press Control A to save, and this is how we can purchase the fixed asset by paying it against the bank account in teleprime. Just try this by yourself, and I'll see you in the next one. 66. Manufacturing Finished Good From Raw Material: Video, we are going to see how we can manufacture the finished goods from raw materials using the assembly function in teleprime. But for that to manufacture, we need the raw materials to be entered and also finished goods to be created, and we should also create the bill of material that we have already created in this project. So if you want to check and revise all of these concepts, you can refer to the earlier videos in this course. So let's continue and let's consider the scenario that we have already entered the raw materials, we have already created the finished goods, and we have already configured the recipe management system. Now how the production system works, let's see. So from the gateway of Tel I need to enable the production function or the manufacturing option. I need to click on Create button from the Masters, and here I just select the voucher type in the accounting masters. Here, I need to create a new journal voucher that is hog journal. Here I need to name it as manufacturing. And the type, I will set it to stock journal. I'll choose it from the list. Just choose Stock Journal. Abbreviation is already set. Activate this voucher type. Yes. Method of vouching number, it will automatically be set. Rest, all the information will be same, but only we need to enable this one. Use as a manufacturing journal. Yes. I need to change it to yes and press Control A to save, and now the manufacturing journal will be enabled. We just have to switch to the transactions and click on vouchers. And if we don't see it on the face of this area where all the other functions are mentioned, we just click on other vouchers, and here we find this stock journal or manufacturing journal. So since I'm manufacturing, I'll just choose manufacturing journal here. Product, I want to manufacture shirts. As you can see on my right, the shirt is zero in quantity, so I want to manufacture that. As soon as I selected shirts on your left, you will notice that all the components that is used to manufacture a shirt is mentioned here. So as soon as I mentioned the quantity, it will automatically calculate how much quantity is required in the raw models to manufacture this shirt. So I have 4,000 shirts to manufacture, as you can see here. 4,000, I'll just write that. As soon as I hit Enter, it will automatically calculate according to the recipe, which we will just see. One shirt, cloth A is used as 2 meters. So that means to manufacture 4,000 shirts, 8,000 meters is required to manufacture this. Same goes for bookrm. In one shirt, we need one bookrm. So in 4,000 shirts, we need 4,000 bookrm same goes for thread, and in the buttons, we want eight buttons in one shirt. But if 4,000 shirts are manufactured, it will automatically calculate that 32,000 buttons will be required. And, guys, if you are using some expensive buttons, you can change the rate here, change the quantity here accordingly. So that's not a problem. It's fully customizable. Press tab and tab, and on the right hand side, we can see the co product byproduct or scrap. That means any kind of wastage can be mentioned here, any kind of byproduct can be mentioned here, and any kind of indirect other cost can be mentioned here as well. Example, if anything is co produced as a byproduct, you can mention it all here. But since art scenery is very simple, there is no byproduct here. Additionally, you can also mention cost of components, A type of additional cost that is incurred. For example, a special packing is required. So you can just create packing charges. Let's say that I want to make it a part of this cost. So whatever is the cost, let's say 1% is the packing cost. I'll just write here 1%. So not only it will automatically calculate 1%, it will increase the overall effective rate of the primary unit. So right now 230 per piece is my cost. But when we increase the packing charges, it will increase this. So when we delete these charges or remove this cost, you will notice that the cost will come down to 228. So that was just for the sake of example, let me just remove that And all set press Control A, and this is how we do the assemblies in Teel prime. Now I want you to practice on this first assembly that we have just done so that we can run the manufacturing process afterwards. So just pause this until this point and then resume this video to continue. Okay, I hope that you have already entered shirts assembled. Let's move further. The next transaction is of 15th January, but since we are using the education version that allows first, second, and 31st date of any particular month to be entered, so I'll just keep all the dates to 31st. So pens assembled, I'll just write pens here as we can see on our right that we don't have any quantity of pens right now. Want 4,000 pens to be manufactured, it automatically calculates according to the recipe and recipe management system, all the raw materials is calculated in order to produce these pens, and the pent cost is 340 per piece per unit. So let's press Control A. And the next one we have is shirts assembled. Let's highlight this. As of 31st of January, I'll just write here shirts. We already have 4,000 of shirts and 4,000 of pens in stock until now. And let's see, shirts, 3,000 units are required. And these are all the components which if we multiply, it will give you all these cost, and the total cost is 228 per unit. We don't have any byproduct or additional cost of components, so that's pretty much it Control A. And let's move to the next item. Which is pens. I'll just write pens here. Quantity that we need to manufacture is 2000 pens. It will automatically calculate the recipe for you. And if we have some different reads, some different quantities for a special order, we can change it accordingly here. So press Control A, and this is how we can run the manufacturing process and do all assemblies in teleprime. So you have already seen how easy it is to manufacture all the finished goods using raw materials. If we have the right recipe and the journal enabled, it's very simple to run the process. So just try this by yourself, and I'll see you in the next one. 67. Dealing With Bad Debts in Manufacturing Company: This video, we are going to see how we can deal with the bad debts in Tele prime. As we can see here, on 22nd of January, it says Ryan and Sun was unable to pay treated as bad debts. So I'll go to the gateway of Tel and from here, we can access the vouchers or otherwise, if we are in the day books like this, we can access it from here as well by just pressing alternate A, and there we switch to journal. By default, it might show you two or B format. If you want to change this, you need to head over to the corner at the bottom, where it says configured. And it says here use credit debit instead of two by entry. If it is set to no, it will show you something like this, but I want to configure it back too. We didn't create entry because that is more convenient. It's very simple to add a bad debt expense account in a Telly prime because it is able to provide us individual ledger as credit instead of account receivable control account. So in many other accounting software, it's very difficult to enter the bad debts just because you are unable to credit the individual party account. But in Teli it's very simple. Let's continue with this. So Bad expense account, I don't think we have bad debts here. Let's create it alternate C. Bad debts. It is an indirect expense, not applicable, not applicable. Control A to save, and the amount of the bad debt is 600,000. And we will credit what? We will credit Ryan and sons. 600,000. Now, we will check how we want to credit this against reference. No, we don't have anything against reference that means. It's all against the opening balance that we are unable to recover. So let's select on account, select this amount, and we are good to go. In the dition, I'll just paste this and press Control A, and that's how we deal with the bad nets in teleprime. Just try this by yourself, and I'll see you in the next one. 68. Converting Sales Order to Sales Invoice: This video, we are going to see how we can convert the sales order to sales invoice as we can see here. On 24, January, it says sold shirts to Mr. Samuel Burns, and order number is 27. So if you are in the daybook I'll just press Alternate A. Go to the sales. Just mention the party name. This is Samuel Burns. Hit Enter and Enter, Enter, hit Enter and Enter, hit Enter and Enter and ignore all of these retails. Sales letter, I'll just choose sales here, and the name of item is shirts. Enter. Tracking number is not applicable. Order number list of orders, we have the pending order right here, we'll just convert the items from order to invoice, hit Enter. As we choose this, it will automatically show us all the quantity. Along with the read. This makes the roll to 720000. So hit Enter, Enter and end of list. And the date I am able to change this voucher date to 31st of January. Why 31st of January? Because in the tiprime educational version, we have only three dates allowed. That is first, second, and 31st. So I prefer to keep this one. Just copy and paste this narration right here, press Control A to save, and this is how you convert the seals ordered to SEL invoice in telprime. Just try this by yourself, and I'll see you in the next one. 69. Entering Direct Sales in Tally Prime: This video, we are going to see how we can record a simple sale invoice of the finished goods. As we can see here on 25th of January, it says, sold shirts to Mr. James Carter. This is a new customer, and we are selling them on credit. So these are the units of shirts that we want to sell. So now that we have this in stock, since we have manufactured the shirts and pens, we can easily sell them out to the retail customers. So let's see how we can deal with this in Deli. First of all, if we are in Dabook, I'll just hit Alternate A, just to add the voucher directly from the Dabook. And the customer name is Mr. James Carter, but first of all, we need to switch to Sales voucher. On our right, we have the option. Switch to sales voucher. Party name, I'll just create new Alternate C, I'll just write here James Carter. And it goes under Sunday datas. But since I have changed the name of Sunday datas to account receivable, I'll choose this one and maintain bill by Bill balances. Yes, I want to do that and press Control A to save it will immediately open the seals invoice and ask further details for it. Let's say that you have delivery node and all details, you can mention it right here. But otherwise, just hit Enter and Enter to skip through all of these details. I'll just quickly skip through it. And the seals rater, I'll select seals, and the item name that we are selling is shirts. So I'll just write here shirts. As we can see, we have the quantity in stock right now. So click Enter. Hit Enter, not applicable, tracking number is not applicable, order number is not applicable, and we are just making the direct seal. 500 is the unit quantity. Rate is 400. This makes the total 200,000 end of list. Once we are back in here, just enter, Enter, Enter. And if we ask you for the reference, since this is a direct sale, this is a new reference. We can mention any invoice number because it's not mentioned in the project. So just for the sake of example, we'll check any example of invoice number. I'll just copy and piece the narration right here and just make sure the date is set to 31st because eight. We prefer to keep all the dates on 31st. So Control A, and this is how we can enter the direct seal in teleprime. Just try this by yourself, and I'll see you in the next one. 70. Partial Conversion of Finished Goods Sales Order to Sales Invoice: This video, we are going to see how we can convert the sales order to sales invoice along with the discount policy. As we can see here on 26 January, it says sold carbons to Scott Anderson against the order number of 24. That means the customer has already ordered us a few days back. The order number is 24 right here on fifth of January, he has ordered us some goods. So we are converting the order to invoice. We are also offering 2% discount for the settlement within ten days to customer. So normally we issue 30 days of credit terms, but if the customer wish to settle early, we will offer them 2% discount. Let's see how we can deal with this in Tali. First of all, if you are in the daybook and you want to add vouchers, alternate A, and then we go to sales invoice as if we don't remember anything how we can convert the order to invoice, we will just start entering the invoice, mention the customer name that is Scott Anderson. But before that, just make sure that the deed is correct. So Scott Anderson not applicable. If it asks you for all these details, just skip through it by either pressing Tab and tab or otherwise enter in the SS later, I'll select seals, and make sure the deed is set to 31st. 31st of January. And let's mention item now, shirts. I want to shirts as soon as I hit Enter, it will ask you for the list of tracking number, we don't have any tracking number. List of orders, yes, we do have an order of order number 24. And against this 3,000 shirts ordered, we have delivered the customer 2,800 shirts. So let's see the original order. In the original order, we have 3,000 orders of shirts received against that, we have delivered 2,800. At the rate of 400, this makes the rule to 11 20,000. End of list, go on the second line, and on the second line, we have pens. Enter that tracking number is not applicable list of orders. We can choose order number 24 and 2000 was ordered, and we are also delivering 2000 shirts, 2000 pins. At the rate of 500, this makes up total to 1 million end of list. And now, press tab, since we don't have any further item, but we do have the discount policy. So hit enter, if you want to enter the discount right here, we can link it to any particular ledger, like discount allowed or something like that. But since this discount is not applicable at the time of sale, it will be only applicable if the payment is received earlier. So we will ignore this. Hit Enter. It will ask you for the method of adjustment. If it is a new invoice number, you can just mention any new invoice number here. Hit Enter, Enter. And in the narration, I'll just copy and paste this thing. For our reference and press Control A. So this is how you can convert the sales order to sales invoice in teleprime. Just try this by yourself, and I'll see you in the next one. 71. Handling Vendor Payments Against Account Balances: O, we are going to see how we can make the payment to vendor pending balances. As we can see here on 28 and 29th of January, we have the payment made to Valid andsons by check off Citibank, and we have the payment made to ABEx Enterprises by check off Citibank. So let's see how we can deal with this. First of all, we are in the Daybook and if you want to directly enter the voucher, Alternate A is the key, and we want to switch to payments. If the payment is disabled or showing in gray, that means we are already in this voucher. Make sure the deed is 31st of January because we prefer to enter all the transactions on the same date. So Citibank, we are paying it by Citibank, and we are paying to Wallace and suns. So the total balance is 2775 double zero, and we are paying what amount? 175 out of that. First of all, we will check it whether it's against reference. If not, that means it is against an opening balance, so we will settle it on account, hit Enter, Enter, and Enter. You can mention all the type of transactions. Details can be mentioned here, any details right now. And once we move to the narration, we can just paste this narration right here, press Control A to save. And now the second transaction is of 29th of January alternate A, Go to the payments. Make sure the date is correct. We are paying by Citibank to APEX Enterprise. The total balance is 270,000 out of which we are paying 150. So 50,000. Check against reference. If there's no reference, that means there is no pending bill, and all the bill is against the opening balance. So settle on account. Hit Enter, Enter, you can enter the check details and all. Hit Enter. Until we see the narration option, paste this narration right here, Control A to save, and this is how we can make the pending bills payment to our vendors in Deli Prime. Just try this by yourself, and I'll see you in the next one. 72. Dealing With Payments of Fixed Assets and Liabilities: This video, we are going to see how we can deal with the payments of fixed assets and also payment for liabilities, as we can see here in these two transactions, computer purchase by giving cash and loan paid by cash. So let's see how we can deal with this in Tel From the TBook if you want to switch directly to the voucher creation mode, I'll just hold the ordinate key and press A, Alt A. Just go to the payments from the right hand corner and make sure the deed is 31st of January because in education version, we have to make sure that it's either first, second, and 31st. So I prefer to keep all of these dates at 31st. So first transaction is office equipment, which is paid by cash. Select cashier and office equipment. We don't have this ledger, we need to create office equipment, which comes under fixed asset. Hit Enter and Enter, skip through all of these. Payment amount is 18,000, Enter. Go to the narration, just copy and paste this narration right here and press Control A to save. Next one we have is loan of standard charted being partly repaid by cash. On the first date, if we notice we have the loan liability account, which was recorded as 500,000, so it is now partly repaid. That means half of the amount is being cleared. Again, alternate A to move to the payments. Click on the payment voucher, make sure the date is correct. And we are paying by cash right, and it's against the standard chartered bank loan account. The balance, as we can see here, 500,000, but we are paying 250,000 out of this narration. I'll just simply copy and paste this right here. It's a very simple transaction. That's why I am quickly going through it. So you can check the earlier transactions and even repeat the video many times if you have some confusion. So press Control A, and this is how you can book both of the payment vouchers in Teleprime. Just try this by yourself, and I'll see you in the next one. 73. Purchase Return or Debit Note Treatment in Tally Prime : This video, we are going to see how we can deal with the purchase returns in Tel. On 30th of January, purchase returns to start ExtilsOCloth B. That means we are returning some of the items back to our vendor. So from the Gateway of Tel, we just need to click on vouchers or otherwise, if you are in the Daybook you can press Alternate A to go in the voucher creation mode. So from Gateway T, just click on vouchers. On the right hand side, we can switch between any of the voucher. But if you want to search for debit note, just go to the purchases section, and next to it is this arrow sign, just click here. And now we can see some of the functions, but not the debit note. Just remember purchases are debit, so debit note is for purchase returns. Sale is credit, so credit note is for sales return. This is just to remember as many people get confused, what is debit note, whether it's purchase return or sale return. So purchases are all debit, return is debit note. Sale is all credit, so return of sales is credit note. We'll go to other vouchers and I'll click on Show in Active. It's not inactive. We can see on the top, we have the credit note and debit node right here, but if it is disabled, something showing like that, you can just double click and activate this like this. And we click on the other vouchers again and choose debit note here. The party name is start Extils. I'll choose start Extils here. Tracking number is not applicable. You can mention all of these details. If you have this, otherwise, just ignore through it by just pressing Enter and Enter. In the ledger account, we will choose purchases. Now, this invoice looks different than yours. That's because we have enabled some of the features, but we will just change this function F 11, and I don't want to see the discount column. And I don't want to separate the actual and build quantity columns in invoices. So Control A, and now we have the original default layout. Just make sure that name of item is showing here. Otherwise, you might have seen something like that. But it's in dbdend cred form, it will be difficult for you. And also, if it is accounting invoice, it will show particulars or something like that. But since we have to return the inventory, we need an item voucher. So click on change mode and you can switch between the voucher types. So I will click on item invoice. And he drew. Name of item that we are planning to return is cloth B. Tracking number is not applicable. Order number is also not applicable. We are returning 500 quantity. Rate is 150. This makes a roll to 75,000 end of list. Hit Enter, Enter and Enter. If you want to specify how this return is made, it's against this reference. Because we want to reduce the pending bill amount, that means some of the items that is returned should be adjusted against the bill. So we will choose the pending bill right here and rest all is good. Just copy and paste the narration right here, and we're good to go press Control A to save. And this is how we can enter the purchase return or the debit note in tele Prime. Just try this by yourself, and I'll see you in the next one. 74. Sales Return or Credit Note Treatment: This video, we will learn how we can record the sales return against any finished goods that we have sold to the customer, and now they are returning something back to us, as you can see in this transaction. So let's see how we can deal with this. So from the gateway of Tele we'll click on vouchers. And as we are in the vouchers, sales return is a credit note because sales is normally credit. So credit note is referred to that in case anyone have some confusion. What is sale return? So that's a credit note. What we'll do is we'll click on other vouchers and you can see the credit note. But if you can't see, it might be inactive, so you need to click on Show in Active. It will show you the complete list, and from here, you can choose your particular accounting voucher. Here, the credit note is there already enabled. But if it is grade out, something like this, you can just double click to activate now. I will show you the activate now option. Just click and it will activate. Other vouchers, I'll just go again. And since it is a credit note, sales return is a credit note. I'll just choose this one. Party name is Mr. James Carter. Tracking number and all you can enter it all later on. Otherwise, we will skip through it. In the latter account, I'll just choose sales and we are returning the shirts. Yes, shirts. I'll choose that. Tracking numbers is not applicable. Order number is not applicable as well, and the quantity is 200. Rate is 400. This makes our total to 80,000 end of list, and that's pretty much it. Just make sure that you enter the sales return on 31st of January so that everything can work fine. Hit Enter, Enter, Enter. And when it comes to total after that, it will ask you, how do you want to adjust this? Now, we have already billed some amount to GMs cutter, right? And against that bill or against that sealed invoice, they are returning some items. That means it should be adjusted in the sales invoice so that we can collect the remaining balance from the customer. So against reference, I'll choose that if we have the option to adjust. Yes, we do have a pending bill, we'll adjust this against the pending bill. Hit Enter, Enter. And in the narration, I'll just simply copy this one this narration right here, paste it in the narration, press Control A, and this is the simplest method on how you can book the credit note or the seal return in teleprime. Just try this by yourself, and I'll see you in the next one. 75. How to Record Cash Purchase of Services in Tally: This video, we are going to see how we can pay for any kind of service that is paid by cash. As you can see here, on 31st of January, it says packing charges paid by cash. So from Tel prime and from the gateway of Tel, we will click on the vouchers. And since this is a payment on the right hand side, we can see this payment option right here. Just click here and we're paying it by cash. Just make sure that the date of transaction is 31st of January. And packing charges. So I'll just select packing charges directly from here. Otherwise, you can just simply create it in the direct or indirect expenses. It is created indirect expenses because this is the special packing that we do for our shirts and pants or our finished goods. So the total amount is 60,000. And in the narration, I can just simply copy this one. This narration right here, paste it in the duration, press Control A, and this is how we can record the cash purchase of services in Teleprime. Just try this by yourself, and I'll see you in the next one. 76. Dealing With Drawings for Manufacturing Company: This video, we are going to see how we can record the cash withdrawn by directive for personal use in Tel. So this transaction is of 31st of January. From the gateway of Tele, I'll just click on vouchers, and on our right, we have different areas. I'll simply go to journal because this is all related to journal. If you see two or B format, we need to configure that from the bottom right. Click on the bottom right and use debit credit instead of two by entry. I'll just change to if you see two by entry. Control A, and now we can see the proper form. Now the entry will be very simple drawings, debit and cash credit. So alternate C to create a drawings account. I'll just select drawings. Since this is related to capital, I'll choose capital. But if I have the drawings option, might choose that as well, but I don't have this. So capital account is fine because this is negative capital. This is drawings, which reduces the capital. So hit Enter, Enter, Enter, and accept. We can simply press Control A as well to quickly set it up. 45,000 is the amount. Credit, I'll credit cash, and 45,000 automatically mentioned. Just copy and paste this narration right here and press Control A, make sure the date and everything is fine. Press Control A, and this is how we can record the cash withdrawn by director for personal use in Teleprime. Just try this by yourself, and I'll see you in the next one. 77. Dealing With Loss of Inventory in Tally Prime: Video, we are going to see how we can deal with the loss of inventory in teleprime. As you can see here, it says 500 button shirts damaged. That is inventory loss. Now, it is not mentioned. Either it is in the normal manufacturing process or it is due to mishandling, so we will consider it as abnormal loss. Let's see how we can deal with this. First of all, in Tel prime from the Gateway of Tel, I'll just click on vouchers, and we will pass a simple journal entry for it. Just make sure on the right that the right voucher is selected. Journal is disabled. That means we are already in the journal account, and loss of inventory, I'll just create a new ledger account because we don't have it. Old C, loss of inventory. Is my legend name, and it's an indirect expense type of legend not applicable, rounding method not applicable and Control A to save. The amount is 500 and credit should be inventory, but all the inventories is connected to purchases in Deli Prime. So as we select purchases, automatically switch to inventory allocation screen. There we can easily allocate it to button shirts. Tracking number is not applicable. Order number is also not applicable. Quantity is 500. Rate is one. This makes the Rule 2500. Press Control A, Control A, and now we are back on the main screen. Just copy and paste this narration right here and press Control A to C. And this is how we can deal with the loss of inventory in teleprime. Just try this by yourself, and I'll see you in the next one. 78. Recording Income Tax Expenses in Tally: Video, we are going to see how we can deal with the income tax expenses that is paid by either check or bank. As you can see in this transaction on 31 nr, it says, income tax paid by issuance of check for Bank of America. Now, we need to see whether a liability account is already created and whether we have something in the liability, which is clearing right now. So for that, we need to check sheet number one. And on the sheet number one, we have some opening balances against different ledger accounts. So as we can see here, we only had sales tax payable, but the income tax is not recorded. So we are considering that without the recording of liability, it should be recorded directly as an expense right here in this transaction. So what we'll do is very simple gateway of Tell. I'll just go here, click on vouchers and we need to go in the payment voucher. If you are not already in the payment voucher, we can shift and switch from here on our right, and just make sure the date is correct. We are paying from Bank of America. I'll choose that. And the expense account is income tax. Now just write here income tax until you found one. Otherwise, we can just create a new one alternate C, and just write here income tax. I'll give the nature of indirect expenses. Legitype not applicable. Rounding is not applicable. Hit Enter press Control A, and here you go. You're back on the main screen. Now just write the amount here. There's no other expenses. We can just mention here how we are paying for it, whether it's by check or whatever. So I'll just skip this part because we are paying by check. And here in the narration, we can just simply copy and paste this narration right here, press Control A, and that's how you do it. Just write this by yourself, and I'll see you in the next one. 79. Dealing With Accrued Expenses: This video, we are going to see how we can deal with accrued expenses in Delprime as we can see here, the transaction is transfer of falling utility bills to accrued expenses at the month end. That means these are all the expenses which are incurred but is not being paid yet. It is related to January expense, so that's why it's recorded in 31st of January, but it will be paid in next month, like on fourth or fifth on the due date of the next month. And this is a complete explanation that you can find with the resources section of this video, it says, accrued expenses are expenses that the company has incurred but not yet paid or recorded in its accounts at the beginning of the accounting periods. So it has all the examples on how different examples will be de here. But I'm assuming that you already have the concept. If not, you can read through it, and let's see how we can record it in Tel. So from the gateway of Tel, I'll just click on the transactions, and from here, you will choose vouchers. Since all of these are recorded at the same date that is 31st of January, what I'll do is I'll choose a single journal entry and we record all of these accrued expenses in a single entry. So from the vouchers, just switch to journal from our right. And when we are in the journal, I'll just simply clear the ledgers and put the balances. So first is electricity bill. So I'll just create the ledger. First of all, just check. If we already have one. No, we don't. So alternate C. I'll just write here electricity expenses. And it should go indirect expenses, and the leger type is not applicable, rounding method is not applicable. I'll just press Control A to save this, and the amount is 15,000. Hit Enter. The next debit is rent. I'll just create one, alternate C, rent expenses. This also goes in indirect expenses. Type of ledger is not applicable, rounding method not applicable, and press control A to C, we are back on the mean screen, and now the expense amount is 125000. I'll just paste it here on the debit, make sure all the expenses should be debit, and then we will credit one single accrued expenses ledger as a total. So again, it is showing credit, but I'll change it to debit. Salaries and wages, alternate, salaries and wages. It comes under indirect expenses, type of leisure not applicable, not applicable. Control A, and amount is 75,000. Next one, again, debit. It's telephone bills. I can simply copy that as well. Alternate C. Spaced here, we can just remove this indirect field, and it goes in indirect expenses. Type of letter is not applicable. Rounding method is not applicable. Control A to save, and the total amount is 5,000. So I'll just write 5,000 here, and credit should be accrued expenses as a total. So I'll just write here accrued expenses. This all goes in accrued expenses as a credit. And finally, after crediting this, I'll just mention this narration right here. In the non field and press Control A to save, and that's how we deal with accrued expenses in day prime. Just try this by yourself, and I'll see you in the next one. 80. Extracting Trial Balance For Reconciliation: Video, we are going to see how we can extract some important reports after the finalization of our transaction. As we can see here that we have completed our last transaction. So let's extract some important reports. Let's see and learn how we can extract those. So from Gateway of Tell, I'll just extract the report. The most important ones are the trial balance, balance sheet and profit and loss. So the balance sheet and profit and loss, I can see on the front in the report section right here. But if you want to extract the trial balance report, just go do display more reports, and there we can find plenty of reports on the top, we have trial balance. Click here. The Befault the sequence is that you only get the report for the groups and you don't see the actual ledgers. So if you want to extract the ledges as well or expand it further, just hold the alternate key and press F one to see the detailed version of it, and then you should be able to see all of these details. Now, if you want to save this view, I can just save it from the right hand corner. I can otherwise use the short key that is Control L. And this is my view. The name is this set this as default view for the report. Yes, show additional configuration. No, Control A. I'll just save it just to see that whether if I again extract the trial balance, I have to expand it or not. So when I click now, it is automatically set to my view. So that's a plus point as well. Not only this you make many customizations in your report, and then you can save the view. You can apply different filters and then save the view. So this option allows you to set a report in a particular way that you want to see. Now, if you want to export this report, I can click on the top corner. Here it says export within E and a single dash. That means alternate Key will be used alternate E to export, export the current report. Yes. And we want to show the opening balance, no, show the translition is no. I want to show only the closing balances and the file format should be. El, exported to Local drive in the CE program files and this. So if you want to configure and change something, you can click on Configure. You can make all of these customizations. Otherwise, I'll just click Export, and not only this will exporte but after the completion, it should automatically open like this. So this is the trial balance report that you can export. If you want to see the report that is saved in the default location, it's very easy to find. It's basically saved in the software itself in the software folder. So just right, click on the software shortcut and click on Open File Location. And there you can see your trial balance. Now, I'll attach this with the link of this video so that you can match yours and you can make any corrections if you want. So that's how we can export the trial balance report. Just try this by yourself, and I'll see you in the next one. 81. Extracting Closing Reports: Video, we are going to see how we can make some customizations in our existing reports. And not only that, we will see some other important reports as well. So right now I am in my trial balance. And if I, let's say, want to see not only for this particular period that is set to first of January till 31st of January, but I want to see a daily trial balance here in this software, I can do is on my right, we have the auto column feature right here. I'll just click here and auto repeat the columns on a daily basis. I want to show it on a daily basis, let's say. But I have lots of choices. We can start it to forward nightly, monthly, quarterly. So however you want the report to be extracted, and the total column show total column, I'll keep it to blank, hit Enter. Once I hit Enter, you will notice that we are getting the trial balance for each day. Isn't that amazing? So same thing can be done for profit and loss, especially in the businesses that involves the cash, sales and closing on a daily basis. We want the day by day profit and loss. Especially in restaurants, bakeries and all of these business that is based on retail business. So from the Gateway of Dei, I'll just click on Profit and Loss account, and in the same way, I'll just extract the detailed one by holding the alternate and F one key, and here is the detailed version. Now, if I want to see the day to day profit and loss, I'll just click on Auto Column feature right here and click on Daily hit Enter, and there we go. We have the profit and loss for all the periods. Now, why do I see all of these as blank? That's because I have entered all of these transactions on 31st. So you will notice that we are only getting this transaction on 31st. But when you are practically using this in a company, you will get the profit and loss for each day. You will incur each day expenses, you will get each day's sales. So that's how you get the profit and loss on a daily basis. Same thing if you want to extract the balance sheet report from the gateway of tele, just click on Balance sheet, and it's in the statement format already. If you want to expand it, moderate F one. So this is the dereal version. But let's say that it is in the table format or T format. Something like this by default. So what we can do is just go to the configured area right here or press F 12 and just change this option. Show vertical balance sheet? Yes. This is called vertical balance sheet or a statement form. So press Control A, and now you should be able to see this balance sheet report. So what I'll do is I will export all of these reports and attach with the resources section of this video so that you can use for the reconciliation purposes. And now let's see some other critical reports that you might need that whenever let's say that you have joined a new company and you want to see the overall position of the company, what you can do is just click on display more reports and click on trial balance. Now, this report is only showing you the ledger wise total, and it's not showing you individual ledgers in many cases, especially for the control accounts. Let's say accounts payable, you cannot see on the front how many customers, how many vendors, liabilities are due and which is the detail. If we double click here, we can get this. But again, if you want to extract it or print it on a paper and then check all the legs one by one, what you need to do is on the right hand side, we can change view, click on change view, and click on Ledger wise. What this will do is it will extract the complete tra balance ledger wise, whether it's the control account, it will extract it into individual ledgers. So that will be very convenient for you, especially if you are joining as a new accountant and you want to make sure that everything goes smooth, you can extract this trial balance report on a leisure basis and then export that, and then you can question the old accountant so that he can assist you in a better way what this expense and what these figures are about. What you can do is simply identify all the unusual balances first and ask questions about it and simply tell all the main figures like cash, we have been showing this amount. So make sure you have this Citibank. You can physically check this. Bank of America. You can physically check this individual customers and vendor balances, you can confirm it by confirming from the third party, write an email for them so that they will share their letter with you so we get to know what is pending according to their records. Same goes for all the other expenses. If we see any minor balances still standing here, we can ask that. So that will be very helpful for you. Again, if I want to extract the further details of it and want to see in which month the expenses was incurred, I'll just simply double click on it and I can get the month by month ledger summary report. Again, if I double click here, I can get to the individual ledger where I get all the details about it. What other thing you can do is sometimes the accountants in small companies have never used the accrual concept or the prepayments concept, and that you can check in the profit and loss account. Let's say that you have new rejoined and you want to see and make sure how the accountants recording different things. What you can do is just go to profit and loss, expand it on the ledger basis, and then you can click on Auto Column to extract the report on a monthly basis. Now, I have the record in this particular project for only one month, so I'll take the scenario of daily, but you can take the scenario of monthly here. So just extract daily and just make sure that all the major and important expenses should be incurred in every single month. Like salaries and wages should be there in every single month. And if there is some big difference here, it's 1 million, and now it's 50 million. And after that, it's 1 million again for all the other months. It's unusual. So you can immediately ask questions about it. Similarly, the rent expenses should be evenly charged in all the months. You need to make sure of that. All the telephone bills, all the other that is fixed expenses should be evenly charged over the period. And similarly, all the badts if it is large amounts charged in any particular month, and then all of that is cleared, you can just ask details about it so that you can get the company position and accounting how the company is maintaining accounts in a better way because in future, you will be answerable for all the transactions that you are handling. These are some of the key reports that will force you to ask the accountant automatically about all the important questions so that you can get to know the position better. So, this will be a very useful thing for you. Let's say that you have identified that accounts are all messed up, so even that will be good because you can ask some important documents how they are maintaining the file system. And it will not be a shock for you after he's gone that the accounts are all messed up. We can sort it. You can get the director into the meeting and explain the situation along with the last accountant that this was the way the accounts were maintained, how you were getting all the critical reports that you want. So he will explain you what kind of reports accountant was giving. And you can explain that, okay, now the profit and loss and balance sheet is maintained in a certain way, but according to accounting conditions and standards, it should be maintained in an other way. So I will try to make from now onwards in my way. But for the rest, we will try to sort it in some other basis. So you will not only have ample time to fix the last accounts if it is possible, otherwise, you can just continue with the date that you have joined because you have already explained all the situon to your manager or director of the company. Okay, now that we have seen some critical reports as well, I have designed a special section for you in teleprime that is frequently asked questions section in which we have covered all the important and advanced aspects on Teel Prime, whether it's cost center reporting, dealing with the payroll management, taking the backup of company, restoring the backup, and all the essential functions that if you see in detail and practice in detail, you will literally become the master of telprime. But until this point, if you haven't yet reviewed on our course, just make sure to leave a rating, exit from the screen, and after exiting, you will see on the right hand side, there is a leave a rating option. Just click there and just write a couple of words about retaining spice and make sure to give the star rating as well. I hope it will be the five star. So you can just mark the stars and write your comments about it and save your review that helps us to grow. So moving Wormwood, we will see all the frequently asked questions advanced sections. So just wry the critical reports by yourself, and I'll see you in the next one. 82. Taking Company Backup: Video, we are going to see how we can take the backup of any company in Tel prime. As we can see here, we are currently working on Empire textil. So if I want to take the backup of this or any other company, here's what you can do. So from the gateway of Tel from the main screen, on the top, we can see the data option. Just click here and click on Backup. I'll select that. Backup destination path. That means, where do you want to save your backup? If I want to save it in C drive, I can save it here. Otherwise, it's preferred to keep it anywhere else, like an external hard disk or so, but right now I only have the C drive connected. So I'll just C for the sake of example, and I'll just write here. Tally backups. Now, this folder doesn't exist. Let me just see that if it is able to create it from here or not. If I press Enter, hit Enter, it says that this folder doesn't exist, do you want to create it? Yes. And as we can see, the folders created just like that. Now, I want to choose this as a backup destination folder. On my right, I can see the list of companies where I can take the backup. In Telly, it is possible to take the multiple companies backups at the same time. I'll choose Empire textiles. Let me just choose it readers as well, and I want to save and take the backup of both. But otherwise, if you want only one, you can simply go to the second line and click on End of list. So that chooses only one right here. But I want both, so end of list now, and click except now I simply go to C drive and here we have Telly backups and here is my two backups right here. So this is how we can take the backups in Teddy prime. Just try this by yourself, and I'll see you in the next one. 83. Restore a Backup File in Tally Prime: Video, we are going to see how we can restore the backup of the company that we have just seen in the earlier videos. So let's learn about it. Let's say that you have already taken the backup, and if you want to restore the backup, it's very simple. From the main screen, you can see this data option right here at the top. Just click here and click on Restore. Now, once we click on Restore, it will ask you from the Tell Backups folder that which company backup do you want to restore? So we have taken two backups. Let's say I want to restore this one, I can just select that, hit Enter and click on End of list and hit Enter once again. Otherwise, it will restore both of the companies of backups. So end of list and click on except, hit Enter again. And it says that a company data folder for one data 01 already exists. Do you want to override the company data? If you want to override this with a new restored backup, we can click yes, and that happens a lot when let's say that you have entered some of the customers or some of the ledgers even, and you have realized that you have imported or entered it in a wrong way, you want to restore at an earlier point, in that case, you might want to override the existing company data backup. Let's click yes and it will restart just like that. And that's how you restore the backup in teleprime. But just for taking this example again, let's restore the backup of Ali traders, end of list. Like, Ort, yes. And now it is successfully restored. So for that to switch, right now, this name of the company open is Empire Extils. I just need to click on this company and click on Shut Company, shut the existing one, and yes, and now I can choose the other one, which is restored just now. So that's how you can restore the backup file in teleprime. Just try this by yourself, and I'll see you in the next. 84. How to Delete a Company in Tally Prime: With you, we are going to see how we can delete an existing company in Deli prime. So on whatever company you are, it doesn't matter. From the gateway of Tel on the top, you can see this company option. Just go to this company option and click on Alter. And after that, you can see the list of companies that you can alter and go in the company formation details like the first screen that we created company from. So from here, we can see and select the company. I'll select this one, which is sample company, and we are in the aueration mode, and now you don't need to do anything just hold alternate key and press D, D is for delete, and click. And it will confirm again. Are you sure? You click again, and that's how you can delete a company. If you want to see the list of companies again, we can see that now you can select the company, and we only see this two list of companies here. So that's how you can delete the company in teleprime. Just try this by yourself, and I'll see you in the next one. 85. Supplier Account Reconciliation: This video, we are going to see how we can extract the supplier account for the reconciliation purposes. Let's say that you have asked your supplier to send you this statement or they have automatically send you at the month end, and you want to take your tel balance, and according to that, you want to check your ledger. So how will we extract the supplier account details? From the gateway of Tel we will go to display more reports. We will go to account books, and we will click on the ledgers, and from here, we can choose the relevant supplier ledger. The shortcut for it is DAL. From here, we will choose our vendor that is like this one. So we have only one purchases for that particular period from first of January till 31st of January. But all the purchases from this particular vendor will be shown right here. And if we have made any payments during this period, it will also be reflected here. Similarly, let me just open one more report again, display accounts books and ledgers, DAL is short key. And I'll just scroll down to extract the ledger of start Extils. Now here we have only a couple of transactions, including the debit note and a purchase. But when you specify a particular month or particular time period, it will show you all the invoices and debit notes and payments related to that. So in short, it will be a complete ledger. What you can do after that is to reconcile that account, you need to ask your supplier to send you the ledger according to their books. They will send you the ledger, and then you can match each of the transactions one by one to make sure you have all the purchases and debit notes entered as per the records correctly. So this is how you can match and reconcile the supplier account. Destry this by yourself, and I'll see you in the next one. 86. How to Maintain Stock at Multiple Locations Using Go down: This video, we are going to see how we can maintain the records of inventory at multiple locations using the go down feature. So let's say you have a big business and your inventory is stored at different locations or different cities. So you want the go down features to be enabled so that you can track the inventory at each go down, and also you can get the combined report of all locations. So how we can do that, let's see. So from the gateway of Terry in Teri prime, what we can do is click on Create from the Masters, and you will not see the goodwn feature directly here. First of all, you need to click on the location. Click on the location, and it says, main location exists by default for the company. Do you want to alter the main location or create a new location. So I want to create a new one. Let's click on Create. And let's right here, New York. And this comes under main location and click Accept and next, let's say, Washington. And it also comes in main location. Click. So my locations are all set. Let's create a new inventory item where I will put an opening quantity and allocate in both of the locations. So to create a new inventory, I'll just go to Gateway of Tel and click on Create. And from here, we click on stock item. I'll take the example of, let's say I am in the business of buying and selling lamps so this is a finish code, and the unit is each hit Enter. And let's say that my total quantity is 200 in stock, and 100 is kept at location one, that is New York 100 and rate is $5, which makes it to 500. And on the second location, we have Washington and 100 is placed there. And again, the rate is $5, hit Enter, hit Enter. And this is how I keep the records at both the locations. So hit except. Now, if I want to check the report, I'll just go back just click on display Mode reports, click on inventory books. And from here, click on Stock Group Summary, or you can also click on locations. So in the location of New York, I have this finished goods as stock, and in the other location, I have this stock. Also, if you click on main location, we have the individual stock retails for each area and then the combined report as well. Now, similarly, for this item, if I want to purchase new, I can go to Gateway of Di and click on vouchers and I'll use PCAs for that. And let's put any invoice number here. Party name, whatever it is, just ignore this all the deals. Hit Enter, Enter, purchase later. And the item is lambs, right? So I have enabled multiple locations for this. Hit Enter, and the tracking number is not applicable order is not applicable. Location. I want to purchase it in a particular location that is New York. For New York, I'm just purchasing 150 extra. So read is five, and this makes to this, otherwise, end of list. And again, if you want to purchase for other location as well, you can place the other location right here as well. So press Control A, and again, if I want to check the reports, I'll just go to display mode reports and click on the inventory books, and then we click on locations. And in the New York, I can now see that I have purchased 150 inwards as well. So that's how we can handle the inventory at multiple locations using the go down feature. Just try this by yourself, and I'll see you in the next one. 87. How to Sale Stock From Multiple Locations Using Godowns and Extract Reports: This video, we are going to take an example where we are maintaining the stock at different go downs or multiple locations in a same city on different locations, three different locations. So in New York, I'm maintaining stock in Times Square. I have the goodwn deer. I have the go down in Central Park, and I have the go down in Brooklyn Bridge as well. So let's see how we can maintain this record. First of all, if you want to switch the company, I want to switch the company, I'll just click on Company on our right and click on select the company. And this time, I'll take the example in Eli traders since this is a fresh start, and I want to show you the example of how we can create it first at multiple locations, just for the sake of your reminder, and also we will buy some stock in different go downs, and we will sell some as well so that we can properly extract the reports. So to create multiple locations from the masters, we click on Create and from here, click on Location. And the main location already exists. So if you want to alter that, you can. But otherwise, you can create a new one. So, create a new one. I can write here that the main location is New York. Or what you can do is, if you want to alter the existing one, let's alter the existing one and let's say that it's in New York. It's not the main location, it's New York. So it's the primary location like yes. And now let's click on location again. And now I want to create a new one because the New York order exists, and now my first location is Time Square. Just pace it here, and it comes under New York. Hit except. Next location is Central Park. Right here, hit Enter. It comes under New York. Except. Next one is Brooklyn Bridge, and it also comes under New York hit except. And now my locations are all set. What I want to do is just create a new inventory item. Go to Create From Masters and click on stock item. And from here, I can just take an example of a simple product. Let's say bottles or let's say water bottles. And this is a new category. I'll just write here water supplies. It's in each, and I want to store 300 as an opening quantity, but at different locations. In the Times Square, we have 100 and it's of $5 or let's say $3. In Central Park, we have $103 and in the Brooklyn Bridge, we also have 100, so rate is three, which makes total to $300. So overall, $900 is the total as an opening quantity, Control A, and hit Accept. Now, the opening quantity is saved. Let's see how we can purchase it in multiple locations. So if I want to purchase it in multiple locations, I'll click on transactions and click on vouchers, and let's purchase it. Let's say that we are purchasing it from Albert. Ignore all of these details. In the purchase ledger, I can just select the purchases. But otherwise, if you want to create a new one, just hold alternate C. Press alternate C here, and the configuration is pretty simple. Just put the purchases in the name, and under it goes in purchases as well. Press Control A, and that's how you save it. And after that, this is the water bottles that I want to purchase, not applicable. List of orders not applicable. And first of all, I want to purchase it in New York, let's say, I want 100 of them, or let's say I want 50 of them just to make it different. And tracking number is not applicable if you want to continue purchasing it in different locations as well. Otherwise, if you click on end of list, I'll just return to the main screen. So click on Not applicable, not applicable again. And now I can purchase it in new location as well. That is Central Park. I want 80 here and not applicable, not applicable. And in the Brooklyn Bridge, I want 130, let's say, 130. So overall, this is what we require. End of list will return us to the main screen. So this is the overall quantity, and that's how you can purchase it in a single reference or in a single invoice for all the locations. So narration, I can put any narration here, bought bottles four different locations. And hit Enter. Now, let's say I want to seal that as well. So let's go to seals, and let's say I am selling it to Daniel. Just ignore all of these details. And that's what we configure it in seals. If you don't have the seals ledger configured, it's very simple hit ordinate C and just name it as seals under it goes in Seals account, and that's pretty much it. Control A, and we want to sell the water bottles now. Not applicable, not applicable, and we want to sell it from all the locations. Let's say that we are planning to sell from New York, and we are selling 30. We purchase it at $3, and we are selling it at 4.5 and not applicable if you want to send it in some other locations as well or sell out from other locations. So the next one is Times Square. Actually, it's not New York. Actually, it's from different locations. This is from Times Square. And this is from Central Park. This is 40, not applicable, not applicable. And the next one is from Brooklyn Bridge. And this is seven, end of list, and we can similarly put the nation right here, put a new reference hit Enter, and we can put sold models from multiple locations. Now, it's not compulsory that you sell from all the locations. We can take an example again, where we are selling to Matthew. And we are selling from the go down of Brooklyn Bridge. So Brooklyn Bridge, we are selling 15 out of fear, and that's it, end of list, and that's how you can see from single location. So new reference hit Enter, keep entering until you go on the narration and sold model from Brooklyn Bridge. Location, hit Enter or press Control A. Now let's extract the details report. I'll just click on display More reports and click on inventory Books. And from here, we click on Locations. Now, if you want the complete New York report where all the inventory is stored, I'll just click New York, and here we can see all the details. We have the Brooklyn Bridge quantity in total, we have the Central Park quantity and the times square quantity. We have the car parts as well, but because that goes in the main location, that's why it is confusing here. But just ignore that. We have some water supplies showing right here. So anyway, we will adjust this later on. But let's say that I want to check the report of a particular location. That is Brooklyn Bridge. So just double click here. It will take you to the details of it. So to total quantity and rate and all the details, if you want to see further, just double click again and it shows you again the details all rate. Just double click again. It will show you the complete report in a particular month, how much quantity is inward at what value, and how much quantity is outward and at what value and the closing balance of here. If you want to show the profit, you can click on Show Profit and it will show you the profit as well. So the inverts were 390 and the outwards were, whatever you sold is at 99, whatever profit you make with the price difference is here. If you want to hide profit, you can click here again, click on Double click and again, if you double click, again, you get the individual purchase and sales detail for a particular vendor or from a particular customer. So all inwards outwards and closing balances are showing right here. And again, if we click again on a particular one, it will ultimately take you to the main voucher. So that's the power of telly. You can see how many type of reports are here. Now, let's continue with the earlier example where I wanted to adjust this the car parts and water bottles. First of all, let's adjust the car parts. Since it goes in the main location, and I have just changed the name of the main location to New York, that's why it's showing right here. So click on Alter and click on the Stock group and click on carps. And it goes under primary. Let's create a new group and call it cars Stock group. Okay. And stock category, we have not created any stock category. So all this goes in car parts. Let's check now. Display more reports. Statement of inventory books, locations, and let's click on New York. Car parts are still showing. I'll just change the car parts. Okay, right here, New York. I'll just combine it. Okay, just change location. Now for the car parts, if I want to adjust that so that it won't show it there, I'll just click on Alter and go to the locations and click on New York and just set it back to main location. Control A, and we will create a new location now. And that is New York separately. That comes under the main location. But that's how we create it. And then we will adjust all the other locations. Brooklyn Bridge, it comes not under main location, but in New York. Again, Central Park comes under New York, and again, Times Square comes under New York. So now if I extract this display more reports and go in the inventory books and then eventually go to the location wise summary. Now if I click on New York, I will only see the three locations right here, and that's how you correct it. So anyway, this is how you can maintain the stock overall details. Also, we do have the auto column feature. You can extract the daily report of all the inverts and outwards. Now, if you want to check the Sunday report of an overall area, let's say for New York, from the locations, just select New York and directly click on monthly. So what it will do is it will show you the total inverts and outwards for all the locations that you have. So similarly, if I want to see it for an other location on a specific location, just I have to go in that particular location and then click on monthly so that we can see that specific region report of inwards and outwards in total. And like I said, that if you want to see the day to day report or month by month report, you can click on Auto Column, and then you can specify it right here, and you are able to see a detailed version of it, just like that. As you can see, it's showing it on all dates, and that's how you can manage the go downs feature in Terry Prime. Just try this by yourself, and I'll see you in the next one. 88. Defining Standard Rates in Tally Prime: This video, we are going to see how we can define the standard rates in teleprime. Now, when it comes to inventory creation in telebrime, there are two options. Either we can go to the Masters and click on Create and click on stock item to create the single inventory item, or what we can do is just click on chart of accounts and click on stock items and click on ultimasters. And from here, we can multi create the items. But the problem with multiple stock creation is we cannot set a standard rate at which we will sell the items. We can only set the item. Let's say my cricket bat. This is a sports item. And the unit is each, and the opening quantity is, let's say, I already have it 100 in stock at let's say main location, and the rate for it is, let's say $20. Now the problem is if I press Control A and create multiple stock item from here, press Control A. If I go back and click on transactions and click on vouchers, since I already have this in quantity, but let's say if I want to purchase it further. From whatever vendor, ignore all of the details. Purchase later, it's very simple to create. We just enter the purchases and purchase accounts as a nature, and the item is cricket bat. Now, if I don't choose any tracking number, let's not choose any order number, and the location is main location, and we are planning to buy ten items. So it will automatically suggest the rate press Control A, and you should be able to save it properly. But if I go to sale and I'm planning to sell the same item, it enter Sales Leger, I'll select and it's cricket bat, not applicable, not applicable. I'm selling from the main location. Now if I plan to sell 20 items, it will not suggest any rate. Why? Because this is what we are selling for the first time. So until unless we put the rate for the first time, only then it will suggest in future. So here, there is very important role of setting the standard rates while creating the inventory. So that it can automatically pop up the rates when I put the sale even for the first time. So click Escape. What I'll do is since I have already created the inventory from the masters, I'll click on Alter, and I can click on stock item and click on ricketPat. And I want to enable the standard as feature. Click on Configure from F 12 at the bottom right here, click here, and you want to show more configurations. By default is set to no, and you will see only a couple of options. But when we click yes, you will see much more options, and from here, we want to enable this. Provide standard buying and selling rates right here, yes, press Control A. Now you will see the option of alter standard ads. I'll just change it to yes. And it will ask you from what date the standard cost will be applicable from. And I'll just write here first of January. Let's say the standard rate for buying is 20 per unit, and you can change it afterwards. Let's say on the next year, the rate should automatically change or updated or even after six months, you can put the updated rates right here. So according to dates, it will pick up what rate will be applicable now. If it is not changed, then enter and come on the second column. And from here we will mention the standard selling price. So first of January, and the read selling rate is standard at 25 each. And again, you can put different rates that is applicable from specific dates. So let's say every year your selling price is updated, you can update here and it should automatically pick up the selling rates. So press Control E, and now let's see. So press Control A, and just remember to press Control A again. And now let's see. I'll just click on vouchers, go to the sales and try selling the same item. I'll just choose cricket bat here. We are selling it from the main location, and the items that we are planning to sell is ten. It is now suggesting the selling price as a standard rate even without entering the seal for the first time. We are entering it for the first time, but still it is suggesting the rate. And that is very important and very time saving, especially if you are continuously updating the rate after six months or a year, so you can standardize the rates for both the cost and the seals price. So that's how you can work on the standard reads in telebrime Just try this by yourself, and I'll see you in the next one. 89. VAT Calculation in Tally Prime: Video, we are going to learn about the value added tax calculation in Teleprime and it's very simple and straightforward. Now, that stands for value added text. That means that let's say that if you have bought some goods in $1,000 and you have sold those on $1,500, so there's a value addition of 500 on which you have to pay the tax. So there is input text on purchases and output text that is applicable on sales. So if we offset those only on the value addition that you have actually gained in amount should be taxable or should be paid to the government. Now, this is a scenario where we are purchasing the goods from supplier, and the goods we have purchased is of $10,000 on which VET or input vat on purchase is 16%, that is 1,600. So this makes the total including tax is 11,600. But the same thing that we have purchased from the supplier will be sold at $15,000 which we will chart from the customer 16% VAT. That is 2,400. So the price, including the total, including the VAT and the sale of original amount is 17,400. So in total, we will receive from customer this amount. So basically, I have collected 2,400 from the customer, but I didn't pay the same amount when we have purchased those code. So this value addition will be taxable. So we have to pay 2,400 -1,600. The difference will be taxable on us and we have to pay through government. Now, there is a very simple treatment in teleprime. Let's see how we can deal with this. So from the Gateway of Tell I'll just click on Masters and click on Create from here and create the ledger. First of all, we will create the Vt ledger. So I'll just write here VAT. And for a reminder, I'll just write here VAT at the rate of 16%, and it goes under taxes. Duties and taxes is the category. I'll just select that. I only have others, so I'll keep it as it is. And now we can charge or write 16% here, but it will ask for additional method of calculation that we can mention here. But if I keep it 0%, it will not ask for the additional conditions, so I'll keep it as it is, and I'll keep it to zero. Rounding of method I'll select not applicable. So after this all is set, press Control A, and let's go back. After the ledger is set, I'll just go to the gateway of Tel and click on the vouchers and go in purchases from the right hand corner. And now we are going to see how we can calculate it on the products when we purchase. We will take this kind of scenario where we are purchasing a good at $10,000, and we want to apply 16% and we want to make a atable invoice. So let's enter any purchase reference number. And we are purchasing, for example, from Albert. We can skip through all of these retails and the retails as well. Purchase later, I'll just select purchases here, and the voucher template is for the purchase invoice on item basis. That means this is inventory purchase scenario or template. So let's say that water bottles is my purchase item. Tracking number is not applicable. List of orders is not applicable. And the location, since I've enabled multiple locations, I'll just choose main location for it. And let's say that the quantity is 100 and the rate, let's say, is also 100, just for the sake of example so that I can make the same scenario as we have right here. So hit Enter. Now on the very next line, if I try to enter anything, it is showing the list of stock items and not the ledgers. So I'll give one more gap. I accidentally skipped through it. So let's enter it again. Purchase letter. The first one is water bottles, not applicable, not applicable. Location, I'll choose main location here, 100 is the quantity, 100 is the rate. Hit Enter and end of list, which will take you back to the main screen. Now, if I hit Enter and I try to enter anything, it will only show you stock items. But I don't want that. After one gap, I need to press another Enter until we go on the second line. Not the very next line, but on the second line. Now if we select AD or write AD, it will show the list of ledger accounts here. So I'll choose this one, which is AD 16%. Now, since we haven't defined any specific percentage, as you remember, because we have just kept it open at 0%. So that's why it's not showing any kind of percentage, but if we write here manually 16, it will change it to 16% and it will charge 1,600 extra on 10,000 amount, which is exact scenario like this one. And this makes our total bill to 11,600. Perfect. And just select new reference here, I enter, and we can write the narration here and put VAT on purchases, let's say. Now let's press Control A to C. And similarly, the next scenario is this one where we are selling the same item to customer A at the rate of 15,000 and the At charged is 16%. So how will we enter this vatable sales? Let's see. First of all, from the accounting vouchers, under the transactions, I'll just switch to sales, and let's put any party name right here. Delivery note not applicable. All the other details I'll mentioned here, party details, I'll skip through it, and sales ledger is already configured. The item is water bottles, not applicable, not applicable. It's from the main location, and the quantity is hundred. Read is 150. So this makes the total to 15,000 end of list, Enter. On the very next line, it will only show you the stock items list. But if we want to skip through it directly to move to the ledger accounts, I'll just hit Enter one more time. And this time, if I write VAT, it will show you the VAT or list of ledgers. So that at 16%, I'll just mention 16 here. Now, let's press Control A to save this. And now let's extract the ledger and see what is actually payable to the government. Just remember that whenever you want to extract any particular ledger overall to see the overall ledger position, Johotki is DAL. Means display account books and ledgers. After that, we can specify AD at the rate of 16%, and we can specify the period right here from first of January till 31st. I'll set it here. And as we can see on purchases, we had input VAT, which is 1,600 and on sale, we have it 24%. So the difference is 800 that we need to pay to the government. So now that we have located this VAT balance, we need to pay for it. Let's go back and let's say that we want to create the payment voucher here. Although we can go from display mode reports to Alternate A, but from Gateway of tell it's much simpler to understand. I'll just select vouchers here, and I am paying for this, go to the payments. We are paying from the bank. Called the standard chartered bank, right here, where at the rate of 16%, the balance here is 800, and we are clearing it all. So now it's zero. I enter, and it will ask you for the reference or transaction time. I'll just ignore through it. And aration is V 80 paid for the month of. You can just write FMO for the month of. And let's say January and click on Control A, and just hit Control A, go back and go to DAL. Display more reports, accounts, books, and ledgers. And now we just select ledger again. And the closing balance, as you can see here is NELNOw. Because we have 1,600 as an input vat, and on sales, we have 2,400. So the difference was 800 that we needed to pay. And since we have paid for it, both the debits and credit sites are equal now press Control A to save, and this is how we can manage the V eight calculation in Delprime. Just try this by yourself, and I'll see you in the next one. 90. VAT Report Customization to Columnar Format: We are going to learn how we can customize the VAT report to columnar format. So we have already seen how we can extract the ledger and overall report from Gateway of Tel. That is we go to display more reports and go to accounts books and then click on the ledgers, and then we select the relevant ledger to extract the report. Here, we have the debits and credits and all the current closing balances and each and everything. But if we, let's say, want to customize this to columnar format, we click on ColmerFmat and there is a long list here. Now, I need to see a couple of details, show voucher type as yes. It's already set voucher number, I want to see that. Voucher reference, I want to see that as well. And basically, let's change all the options to yes so that we can see much more details. And once we go to the bottom, hit Enter. And we want the automatic columns for all items. Select this one and hit Accept. And now we can see a detailed report. Okay, columeFt we don't want some of the details that already here. As you can see here, Albert name is already here, consignee party name, I don't want that and all the addresses I don't want. So let's change it to colume and customize it a little bit. And pan CSD number, these are not applicable right now, so I'll change it to no Control A, and now we can see that we have the complete details of the VD. And now we can see much more detail like from whom we purchased the item. What is the voucher type? That is purchase? Voucher number is mentioned, voucher reference is mentioned. It is input VAT on purchases. This is the uron the quantity is mentioned rate, including the value excluding the VAT and the net VAT amount. All of the details are mentioned here, and same goes for all the other columns. As you can see on every column, we have the AD separately mentioned at 16% right here, and we have the total amount excluding and including at as well. And finally, if you want to further customize after exporting it in a certain format, I recommend you to export it in Excel and you can further customize it however you want. Exporting process is very simple. Just click on Export from here and export the current report, and we have the basic configuration all set. So if you want to configure it further, like you want to change the report type. So you can make all of these changes. You can even customize the location. Let's say I want all my reports to not program files and Terry prime, I just go up up. And I have created a separate folder right here on the C drive. It's not only recommended to keep your reports and other critical information or even backups on the C drive. But since my partition is only one in this laptop, and that is Crive so I prefer to keep in separate folders. So tell you reports, I'll just choose that, go back, and now it's all set. You will just click on Export. And not only it will export, it will open the report for you as well. So this is how the report looks like after exporting, you can play around and customize it further, but that's how you can configure the ledger reports further into the columnar format. Just try this by yourself, and I'll see you in the next one. 91. Managing Staff Advances With Cost Centre Features: Video, we are going to see the effective method of managing the staff advances in Delibrime because if we normally see the scenario, we can just pass a journal entry that is staff advances as debit and cash is credit whenever they take the advance. We record it as a current asset or prepayment, which we have to receive again. That is a simple treatment which has a lot of flaws that you cannot keep track of each individual employee that is only going in the journal ledgers, which can be extracted as a total in display and accounts books and ledgers. But there it will have a combined ledger account. So it's very difficult to track all the employees. So instead, we want to allocate it to a particular employee name so that whenever they took advance and whenever they are paying us or asking us to deduct it from their salary, in installments, we can easily keep track of it. We have to see and find out that kind of method. So if we decide, like some companies do create all the ledgers separately for each specific employee, but then when we extract any balance sheet or profit and loss report, it will show us a huge list of ledgers and deals about it. So we will use an advanced feature to manage this, and that is cost centers. What this does is we can do the simple treatment of like we entered the journal entry, but at the same time, we can create different cost centers which will not affect the ledges, but will also enable you to keep the track of separate advances and what installments they are paying against it. We can keep the track separately. And also, it will not over occupy all the ledges that we create. To enable the case centers in Teleprime it's very simple. Just go to the Masters and click on Create. And once we click on Create, we can see some details, but we can't see case centers here. So we just write case center right here. As you can see here, Cas center is there, but it's disable. So hit Enter, it will ask you that you need to enable the case center feature because this is an advanced feature. You want to enable now. Yes. And now we can create the cost centers. Now, similarly, what we will do is we will also enable the cost category, go back without creating anything. Just write here, cost again and just write cost category. Simply enable this as well. Primary cost category exists by default. Do you want to alter or create a new? So click on Create New, and I'll just name it as salary payable. Salary payable. Now, I want to include all of the ledgers in that cost category, whether I want to include the revenue items or non revenue items all should be allowed. So I'll change both of them to yes, hit except. And now let's create an other category since we can see a new screen now. I'll just name it as staff advances. And again, I'll change both of them to yes. Except, and let's go back to create the cost centers now. If you want to create multiple cost centers, just remember that instead of creating it directly from here, this is all for the single ledger and single case center creation. And we want to click on Chart of Accounts. I know this is confusing, right? It is not chart of accounts, but actually all the options they have given for multiple ones is in chart of accounts. So we can click on Chart of Accounts and we can switch the category to the case center, hit Enter, and click on multi Masters right hand corner. Click here and click on Multi Create, which will take you through this particular screen. So the course center is set to all items. I'll just select that. And I'll just mention that for the sai pable we want to create three employees. I'll just select SAT here, which is primary. Again, select Sai pableFahan primary. And again, I'll select say pable write salary payable, and just write Omer here, primary. And similarly for staff advances, I'll create the same three employee categories, SAT, Staff advances, Farhan, and staff advances again, and Omer. As you can see, the multiple cost centered creation is very simple, and it's so much time saving. Instead, if you create it from single er, it will take you a lot of time. Now, press Control A to save. And as we can see here, it says that SAB already exists. This means that when we are trying to create the two gaze centers, we want to differentiate it in a name a little bit. So the other ones were saved. Salary pables were saved, and staff advances, we need to create some new ones. So go to ultimasters again. Click on multiple create all items. This right here, staff advances. I'll just mention the full name now. It goes under primary against staff advances. Mention the full name, goes under primary, and then we have staff advances again. And goes under primary. Press Control A, and that's how we can save both of the cost categories and the cost centers under it. And finally, after that, we will just go back and create a simple ledger of staff advances from the Masters and single ledger. We want to click on Create and click on ledger and just write a simple name that is staff advances, and this goes under current assets. Not applicable. Me details. You need to click on more details on your right, so see the case center option because we need to enable that. Just remember. So click on more details here and cause center applicability. If you want to enable this, just double click here, right here. And just check once if it is enabled, again, just to make sure and press Control A. Similarly, I'll just create a ledger for salary payable. It will go under current liabilities, not applicable, and similarly, I'll just enable the cost center option here. So click on more details on right and cost center applicability wherever it says no, I'll just change it to yes. Double click here first, and then change it to yes, Control A. Now let's recall before moving forward. First step was enabling the cost category and cost center features. Second step was creating the cost category. Third step was creating the cost centers, and fourth step was creating the ledgers, while enabling the cost centers as well, the options. So now we can finally move to our entries. Now let's suppose that an employee comes to you and he wants to take advance before the month end from his salary, and he wants it to be deducted in future salary. So how will we treat and how will we book this voucher? Let's go to Gateway of Tel and clic on vouchers. And since we are paying all of the payments by bank or cash, so I'll use the payment voucher for that. So just select here. Let's say Study Charter Bank. I'm paying from that, and we're paying staff advances. I'll just write here staff advances. And let's say that we are paying $500. Hit Enter, and that goes for staff advances. Choose the category here, write the name that we want to allocate this through Farhan, and hit Enter. We are back on the main screen. Hit Enter, hit Enter again. You can allocate all the transaction type and check details whatever you want. So you can mention it here. Afterwards, just go through the narration and you can write here. Staff advances by Farhan, or the month of January. Just don't be concerned with the date right now because we are using the education version, that means first, second, and 31st are the only dates allowed to be entered in education version. So I'll keep all the dates same. So Control A, let's again book any other voucher for some other employee. And let's suppose that this one is paid in cash. Again, we're paying staff advances, and we have paid $300 through this person. Again, Staff advances, we want to book it for Pomere $300 hit Enter, Enter. And now we can mention the narration here, staff advances paid to Omer against salary for the month of January, just like that, and press Control A to save. Now, let's suppose that the month is ended now, and I need to deduct these advances from their salary, and each employee's salary is $5,000. Normally what we do is salary is actually recorded as accrual, which is a liability. That means the salary is due in January, so it is recorded in January to be recorded as expense, but it is not being paid yet. It is normally paid by the next month on, let's say, if the salary is for January, it will be paid on second February, third February, just like that. So if you want to record it in January, what we'll do is we will debit the salary expense, but since it is not paid yet, we will credit it as salary payable, which is called accrued expenses. So for this kind of accrual entry, we will always use a journal. I'll just write here salary expense. We need to create one. It will be recorded as indirect expenses. Type of ledger, not applicable rounding method, and press control E save. Now, the total for both of them, if you want to record it at the same entry is 10,000 because 5,000 salary is for each employee. So this makes a rule of 10,000, which will immediately take you to the cost centers. But just remember that we don't want to allocate the cost category here. So I'll just go back. Salary expense ledger is already created. We need to edit it a little bit, so you can directly do it from here. Just make sure the cursor is here. And it is selected, it should blink like that. Press Control Enter, and press more details from the right. Case enter applicability, I'll just set it this one to double click here, set it to no press Control A, and when we enter and now when we enter, it will just directly go to the second line where it asks for the credit. So I'll just credit here. Salary payable. And from credit, we will enter staff advances. And let's suppose that each employee has requested you to just deduct $100 from their salary each month. So for two employees, $200 will be the total reduction, hit Enter. And the category we want to allocate is staff advances so that we can properly keep the record. Otherwise, it will be very confusing for you that they took random advances amount, and now we are deducting $100 each month. So it's very difficult to track until we use the cost centers. So Farhan, 100 and Omer, 100. So these are the staff advances record. Hit Enter. And the credit side will be salary payable. And again, we have allocated and enabled the cost enters with it. So as soon as I select this, it will show us the remaining amount to be entered here, which is 9,800 after deducting the advances because we need to pay less now. We will offset some in advance, so we'll pay less. Enter. It will take you to the cost center category where we will allocate it to the salary payable. I'll just select here salary payable. First one is for h his total pending after deducting $100 from $5,000, salary is 4,900. And again, for the other employee, which is Omer, 4,900 same. Hit Enter, hit Enter, make sure the totals match 9,800, so 4,900 plus 4,900 is the same here. And in the narration, you can just simply write here salary for the month of January because this is the final calculation. And press Control A, and let's go back to the main menu now. And from here, I'll just go to display more reports, statement of accounts, and from here, we will extract the cost centers and then click on category summary. And here we can clearly see that the salary payable for both of them is 4,940 900 and they haven't collected any salary yet. So after deduction of advances, they have this salary as payable, and all the advances are recorded here that they have took these advances, and against that, we have collected this as an advance, so the pending balance or closing balance is like this. Now let's see how these accounts will get settled. Suppose one employee came and took his salary, how will we book that? Let's see. I'll just simply go back to the main screen and from here, just click on vouchers and click on the journal entry. And not exactly journal entry will go to payment, in fact. And we are paying it from standard chartered bank against salary payable. And the total pending is 9,800. I'll just write here for that and just mention salary payable here and for Farhan, it's 4,900. Or let's say that we are only clearing for one, salary payable fan, and that's it. Hit Enter, Enter. You can allocate and define the details for the check reference in all. Hit Enter. And just right here, check number, this paid against Far han salary for the month of January. So let's press Control A to save. Now if we go back to the same area, click on display Moe reports. Click on statement of accounts, click on cost centers and category summary. Here we can clearly see that Farhan has took his salary, so 4,900 was total payable, and he has took the salary. So closing balance is Nil now, zero. And the other person, which is Omer hasn't yet collected his salary, so the pending balance is showing right here. So as you can see, it's very easy to track not only advances, but all the salaries as well. Now, let's check the benefit of it in the financial reports that we have just created the cost centers instead of creating the ledges for each employees. So if I go back, click Escape, hit Escape and we go to the gateway of Tel and click on Profit and Loss account, and we expand it to the detailed version. You can see that we have only recorded it as salary expense, and there is no other ledges showing right here for each individual employee. So it will mess it up a lot if we have created salary expenses for each individual employee. It would look very bad, especially if we have lots of employees. So that's the benefit of it. That in the financial reports, we only see the simple single ledger. So this is how you can manage the salary expenses and staff advances. In Teleprime by using the cost centers, just try this by yourself and I'll see you in the next one. 92. Full Payroll System in Tally Prime: Video, we are going to see how we can handle the complete pay rule in Teri prime. So most of the people handle the pay rule in Microsoft Excel, as you can see here in this sheet as well, but it can be easily dealt with in Telprime as well. Let me show you how. But before that, I need you to download this file with the resources section of this video so that you can follow along. So I'll show you exactly how you can enter all of these details in Teri prime. So let's jump into it and see the complete procedure. First of all, what I'll do is just I'll shut this company and create a brand new company to deal with the payroll. So first of all, just click on the company and select Shut company option and shut this company. If it asks you for the confirmation, just click yes. And now we see this screen where we can create a brand new company. Just double click here on Create Company option, and that should take you to this company creation screen. Now, the company name will be new payroll company, and I'll keep all of this information as it is, and you can change the financial year and hit Enter, Enter, and accept or otherwise press Control A to accept. If you want to enable some more features, you can do so here. After the company has created successfully. So maintain payroll. I want to enable this particular option here, change it to, press Control A, and that should enable the payroll option. Now, from here in the gateway of telE don't see any particular change, but when we go to the create option, we see a separate category called payroll Masters, where we have the option to create the employee groups, employees units, attendance, payeads and payroll voucher types. So from here, since the first option is self explanatory in the payroll masters, we first create employee group. So just go in this option. So here we basically group the employees together according to their departments like accounts department. All employees related to accounts department will go in here, press Control A. Similarly, we can do sales and marketing. This is the group where all the sales and marketing employees are, press Control A. And finally, we have human resources or HR control A. Once this is done, just go back by pressing Escape and escape again. And after that, we will create units of work. Just go in here. The units is simply how the employee salary and work done can be defined. According to days and months, salary is calculated. So if there is any absent deduction or any overtime calculation, it can be according to Rs days like this, and the monthly salary is calculated on the months basis. So we have two units right now. D is the symbol and days is the formal name. So there's no decimal basis because they can be either one or two, control A, then we have M. The formal name is months, and we don't have any decimal place for that Control A. It can also be Rs, like I said, that for all the overtime work, we can calculate it in Rs. So just write Rs here, Control A, and we can also calculate it in minutes. So let's write min here. Minutes Control A. Then we need to combine the units so that they can interrelate each other. We have to define that one month is equal to 30 days and one R is equal to 30 minutes. We need to relate all of these units as well. For that, we need compound units. So I'll just go to the type and change it to compound, and we will define here that R of 60 minutes. We have an R of 60 minutes except and we have a month of 30 days. Then I'll go back, press Escape and escape. Then we have the attendance and production type right here. Just go in here. So the attendance type can be either the person can be present or employee can be present. It's primary. And if it is present, the attendance type will be attendance or leave with pay. Do select that, except, or otherwise, he can be absent so under primary, and it will be leave without pay because he's absent, except? And also, if he's doing overtime, it's under basic, and it's according to the production days. And here, the production days can be anything. If you are in the manufacturing sector, then the employees can be given hours of salary, as well. But since the simple calculation is extra days that they have worked, so I'll just define it as days here. And now let's go back to create the pay heads. The next option we have is pay heads. Just go in here. I'll set it to basic salary. So basic salary is basically set to earnings for employees. Income type. Is it a fixed salary? Yes, it is. And it goes under indiret expenses. Now it asks you, does it affect the net salary? Yes, it does. Name to be displayed in pay slip is basic salary, yes. And do you want to use this basic salary for gratuity choose? Yes. And how that will be calculated, I'll just choose here that it is calculated on attendance and on present days and calculation period is days. Now, let's save it, press Control A. Now, just remember that we have already created the present, so we don't need to create another element for absent. You will just directly move to overtime. Define overtime here. And it is also based on earnings for employees, fixed, or it can be variable, and it also goes in indirect expenses. Does it affect the salary? Yes, name to be displayed as overtime, yes. And it will not be used for gratuity, and the calculation type will be on the production, and overtime elements is right here, production type, and rounding method is not applicable, press control A. Now, there can be some kind of advances by employees as well. They might take some salary in advance, so we have to mention that as well. Advances is an other payead element, and it can be deduction from employees. I'll just choose that and it can be called current asset because when we have given advances to the employees, it can be an asset. But when we receive that, we will reduce that asset and charge it as an expense against the salary. So current asset is the right area. Does it affect the net salary? Yes, and the display type will be employee advances, or you can write anything or keep it as it is. And it will be under user defined value. I'll keep it as it is, press Control A, and now we have an other element which is withholding text, and it is basically Deductions from employees because we deduct this amount, but that is a liability on us because we have collected this tax from our employees for the government, so we need to pay that to the government. So current liabilities is the right area. Affect net salary, yes, it does. Withholding tax is the name to be displayed on payslip. And it will be calculated as a computed value, so I'll choose that in the calculation type. Now, as you select the computed value, you can see that there is an computation chart on right, so we will configure that. So I'll just ignore this rounding, and I'll choose the formula to be on the specified formula once it asks for the method of computation. I'll choose that. Now I want to calculate all the withholding tax on the basic salary, so I'll choose that hit enter end of the list. Now here, I'll just press Enter because it is effective from the start of the gear, hit Enter and hit Enter, just ignore that, and the slab type will be percentage. And let's say that this is 10% of the basic salary. I just Enter, Enter, and accept or otherwise press Control A. Now we will go back and back and click on employee to create our employees here. And this is a single employee creation mode. So the first employee name is this one. I'll just copy the name here. Paste it right here, press tab and tab to go on the line, which says under. Now, this employee is from the accounts and finance department. So I'll choose accounts department here. Date of joining is this one right here, I'll just copy the date. Page it right here. And do you want to define the salary details? Yes, we do. Hit Enter now, the employee particulars will be effective from first of March because that's what the joining date is. And he is given the basic salary. We will just simply define the salary elements here for their payslip or for their salary creation. So they are entitled to basic salary, which is 40,000. Just spaced here, and it will be calculated according to days, hit Enter. Second element is they are also entitled to advances. And this is deductions from employee from the user defined value. That means there is no fixed advance, which we can mention here. It depends on the activity of the employee. Whenever they take advance from us, we can deduct it. The employee is also entitled to overtime and basically what we will do is divide the 40,000 with 30. So if we divide that 40,000, divide by 30, the amount that comes is 1333. So I'll just copy that, and this is according to days. So whenever an employee is working overtime, we get them or give them full day of salary. So press tab, and then we will select withholding texts they are entitled to and then select end of list. Press Control A, and the same thing will be followed for all the employees. We can also mention all the journal information which is pretty simple, their gender location function designation. So you can define all of this, and after that, just go back and go back again to go in the transaction and click on vouchers. And then we will click on the other vouchers because only then we should be able to see the payroll vouchers here. So, first of all, we have the payroll and attendance. I'll go to attendance here, and here we have Marine TamurThs employee is saved. It enter. If it is not safe, that means you might have made the mistake and you haven't saved it properly by pressing the Control A button. So just go back and create once again by using the simple method, and then you should be able to see that. And we will just simply mention the attendance of Marin Tamur to calculate its salary. Present was 19 days and 11 days she was absent. So I'll choose present here, 19 days. And also Marin Tamur was absent for how many days, 11 days. And Marin Demur had overtime for how many days? Two days. Right here, it's mentioned. So I'll just choose the name again, and it's also entitled to overtime equal to two days. So this one is just an example where I have entered all the elements at enter end of list, and we can mention the narration here, anything we want, and then press Control A, but the salary is entitled to normally on the 31st. So I'll just mention the 31st state. Make sure you always mention 31st day. So Control A, and now after that, we will click on other vouchers and select Payroll here. And from here, I'll just choose cash here, choose the employee name. Okay, one thing that I forgot to create is the salary payable. So I'll just go to the Masters and click on Create and click on the payheads again and just write here salary payable. And it's not applicable in the payhead type, we will select the current liabilities here, press Control A. Now, our Pheads is now created. I'll now go to create again and click on payroll voucher type, and finally, we will define it as payslip. We can define anything you want. And I'll choose here payroll. And I'll keep all the rest of the options as it is. Print voucher after saving, I'll choose it no and press Control A. If you want to edit something, what you need to do is just go to the alter and let's say I want to edit the voucher type and it's off payslip, and let's say I want to name the class as payslip or salary slip as well. I'll just write here salary slip, Control A, and that's how you can edit that. Now we have already defined attendance and we have created the employee as well, and also we have defined all the elements for the payslip after that, we need to fill the salary details, so I'll click on vouchers and just press Control A four from your keyboard, and then choose payslip here. Class, I'll choose it as salary slip. And on our right, we can see the autofil options. Either we can click here directly or otherwise, we can use the combination of Control and press F here. Payroll autofil it says, select that. So first of all, the process list will be based on salary or user defined. So for example, we want to user defined first, so click on User Defined. And it's from first of January till 31st of January. And after that, Enter and Enter, and we have different employees here. If you want to create it for all the employees, we can click on all items. Otherwise, you can select a particular one. Let's go with it and sort by employee name or employee numbers only. So we haven't mentioned any employee numbers, so I'll just go with employee name and keep this one as well. Hit Enter. After that for Marine Tamur he'll ask you the advances amount. So let's quickly mention that. The advances is 5,000. I'll just mention that. Okay, now that everything is defined, we'll go to the vouchers in order to create the full payslip or process salary for that particular employee. I'll just click on vouchers. I'm on the payslip, but if you want to create the payslip and you can't find the option here, just go to other vouchers here and select the salary slip, make sure you select this one right here. Select the employee. And after that, first of all, we will mention all the other details like advances. And after that, we will mention some other details first before mentioning the others. So, for example, if the employee has taken some advances, all the stuff from here. I'll mention that. 5,000 is the employee advance. I'll mention that overtime or withholding text. So withholding text is this one right here, paste it. And we have the overtime as well. So the overtime calculation is this one right here. Paste it and end of list, and after that, just keep it as it is, and click on autofilPayroll autofilPcess list from the salary, and we will define this from first of January till 31st of January and keep all the stuff as it is, it enter. Now, basically what we have done here is we will define the fields of the user defined values first, and then it should automatically take the other information, right here. So as we can see, the salary is now calculated press control A, and that's how we calculate the salary. Now, let me just show you the details here in the report. I'll just go back, go to display more reports and click on trial balance. And in the indirect expenses, we have the basic salary and overtime, and in current assets, we have cash in hand and advances, and in the current liabilities, we have withholding tax. So this is a pretty straightforward process. The only thing is, since we are configuring everything for the first time, that's why we took some time. Otherwise, it's very simple to create and we will follow the exact same procedure every single time for all the employees. Okay, let me show you the payslip as well. Go to display more reports and click on the payroll reports. And select payslip here. From the accounts department or for this particular employee, I'll just extract that. So as we can see here, complete list payslip list is defined. If you have defined all of these information, it would have sopped up here. And after that, if you want to print that, just click print from here, print the current report. And if you want to see the preview of it, here is how it looks and click on Zoom, and this is how it looks. Also, it as defined in dollar terms as well. So right now, I just taken the example of rupees, but since our company is set to dollars, that's why it's showing right here. But this example was on Rupees. So even if we want to configure that, let me show you how we can adjust that. Click on the company and alter the company, alter this one right here, and let's see it is to Indian puees and the currency is up Rupi Control A, and now if I access the company, go to the payslip and select the employee. Now we are in rupees. And if we print that in the report, we have it shown right here in rupees, as we can see. And this is how you can process the complete payroll in telebrime. Just try this by yourself, and I'll see you in the next. 93. User Access Rights in Tally Prime: Video, we are going to see how we can define the user access rights in teleprime. Let's say that you have practically implemented the teleprime software in a company. So different people should have different access to the different features. That means, for example, if a person is authorized to enter just the sales invoices, he should only stick to sales invoices and should not be able to see or edit or enter any other kind of vouchers. Same thing if any other person is related to banking area, he should be able to make the payments and receipts, but not the sales and purchases. So they all have the restricted access according to their login. So whenever a person comes, you will just log into their system with your user name and password, and according to that, the access should be provided. So let's discuss how we will set all of these user access rights in Telly. So first of all, from the gateway of Ti, I need to go to the company option, and from here, we'll go to security here. User access to the company data, I'll just change it to yes. And first of all, we will set an admin user name and password. I'll just write here admin here, and it should be a complex password, but for the simplicity, I'll just mention it as one, two, three, four, one, two, three, four, and it says that when I enter and confirm the password for getting your password will render your data inusable. That means the security control in Teri Prime is pretty good. No one should be able to crack into the password. So if you pot your password, consider your company gone. You have to create it over a can. So just notice that and you can create an email ID for the browser access in Admin. Enable Teddy audit features that means the Admin should be able to see all the entries and audit that. Disallow opening in education mode, no, and add users after saving the security settings. Should be, and press Control A. Now after that, we can create a new user. For example, Smith is the new user. Now here we can create a new user. I'll just define a new user here. Smith@gmail.com, whatever is the email. Enable to tell you audit features, that means the Admin should be able to check through all of the transactions. Disallow opening in education mode? No, because we want to define the user access rights and add users after saving the security settings, yes, hit Enter and accept. And now we should see this screen where the list of users for the company should be defined. First of all, we will define it as whether the person is a user, an owner or data entry operator, what it is. Now, I'll just define it as, for example, User role is data entry, and here there is a data entry operator name for Han. Password is, let's say, this one, and we want to allow the browser access, allow the remote access and allow local DDate files. And we have all of these options set to know. I'll keep it as it is. And then we have the other users as well. Let's say the other one is also data Entry. I'll just write here Sofian one, two, three, four, and end of list. So the users are created. Now we will give rights to these users. I'll go to the company again and we have the option of user roles here. We'll go to data entry, hit Enter. And we will define that use the basic facilities of I'll choose it a data entry. Like they should be able to days allowed for back dated vouchers. So if they are allowed to change or enter any dates that is back dated in vouchers, you can define that and how many days it should be allowed. So for example, if the employee is able to enter the sales in the previous dates for how many days it should be allowed. So let's say for 30 days. But if you want to disable or disallow that, keep it to zero. And after that, allow to save your reports for this company allowed to delete the reports, you can set all of these excess right here. Now for the data entry, now you can work through all of these, whether you want to allow this or not, as it says, allowed to add, modify, register business Whatsapp numbers. You can allow that and all the other information. And in the data entry role, as you can notice that disallow the falling facilities, nearly all of these facilities are disallowed, and the others will be automatically allowed. So we have all the configuration and reporting the critical reporting functions are disallowed. The accounting masters from where we access that access the list of ledgers, create new ledgers, create new employees or anything is full excess is disallowed. Same goes for balance sheet, cash flow statement, and cost center details, and all So basically, this all list is disallowed features. But if, let's say, I want to allow a certain element of account masters, let's say the person should be able to only see the accounts masters and should not be able to create that, delete that, or anything like that, but only he should be able to see the accounts masters. Full excess of the account masters is disallowed. I'll keep it as it is. But just go through this part, hit Enter and enter until we go on the second line, as we can see here. When we press end of the list from the bottom, then we come on allow access features. Basically, that allows you to re access or re enter some of the excess that is allowed in this particular portion. So only the display portion where we can just see the accounts masters should be allowed. So basically, this is to re enable the out facilities. So rest all of the features that is not in the disallowed features is already allowed. If I click on end of list, it should be able to and go back to the security levels. But if, let's say, enter here, as we can see here, the list is long and we don't have anything related to vouchers here. That means full vouchers are allowed. But let's say that if I disallowed the complete excess full excess of vouchers, I want to disallow end of list, but then I only allowed to create, but then I only allowed to create the vouchers or let's say accounting vouchers. I'll set it to that. End of list and Control A, and now we have already defined the roles, right? As I'm login currently to Admin, I'll go to the company and click on Shut the company. Shut This company, it, yes. And then open the company again. This time, it will ask you for the username and password. So for example, Farhan is the data entry operator, and 1234 is the password, Enter. And now you will see that you will get much limited access. And in the masters, we only get Create excess, and that's it. And in the vouchers, we only get few excess. And even if we enter something here, like party name, we enter here. But let's say if we can't find any party or sales ledger or anything related to the item, if you want to create this alternate C, no access allowed. So that means we have the limited access. We can only enter the data but not change anything. So let's say we enter that Control A, let's say we want to alter this one now. So we won't be able to alter this, as you can see here. Even if we go to display more reports, we can see the daybook but let's say that this is the entry that we want to open, we cannot open that. This is how the powerful function of user access rights can be defined. Now, I want you to play around with some of the features considering practical scenario where the sealed employee has joined and you want to allow them some of the excess, but not all, and you should be able to create those excess rights from here. So just try this by yourself, and I'll see you in the next one. 94. Dealing With Multi Currency Transactions: Video, we are going to see how we can deal with multiple currency transactions in teleprime. That is, if you are located in let's say UA and your base currency is AED, which is Durham's and you have some foreign customers that deal in dollars, so we have to put an exchange rate and we have to invoice it in dollars as well. So let's see how we can configure the teleprime to automatically configure and put and convert all the exchange rates in between. So first of all, I am light traders, and let's suppose that this company is based in ui, and I want to change that. Can click on Company and Alter. And let's say, instead of State New York, I'll just set it to Dubai, and it's in Ui. The base currency, I'll set it to AED, which is Durham's all set, Control A, and now this company is based in UA. I want to create an other currency named dollars, so I'll click on Create from the Masters and click on the currency option right here. Just click here. It says that currency AD exists by default. Do you want to create an other currency, I'll create new? And here, I'll select dollars? And the formal name is dollars here. Now, the ISO currency code is very helpful in converting the currency to a different currency. So here we will choose USD in the ISO currency code. Number of decimal places, obviously in currency, we have the minor decimals as well. So the decimal places is applicable. Show amount in millions if you want to show that. Dollars is definitely in millions as well. So suffix to amount I'll just change it to yes, and if you want to put a space between the amount and symbol, definitely. So you'll change both of these to yes. Word representing after the decimal, that means the smaller portion can be called sins number of decimal places automatically applicable in that as well. Control A to save. And that's how you can not only set one currency, but we can set multiple currencies, hundreds of currencies, unlimited currencies in teleprime. Now, once we have set this currency, the next step is to set an exchange rate for this currency. I'll just go back and I'll just go back again. Instead of create, I'll just now click on Alter and click on currency. And we have created this currency as a fresh. So whatever alternate currency that you have created, we will configure it for that. So just hit this. Now, the symbol code and all the other configuration is all set, we have to define from which date we want to set a specified exchange rate. So from first of January, we want to specify an exchange rate of 3.67, I'll just copy that. And I'll paste it right here. So from first of January, the specified rate, this one will be followed. Now the next step, once the configuration is set, we will learn how we can enter the transactions based on the foreign exchange rate. For that, we'll just click on vouchers, and let's say that we want to book a sales invoice to the customer. And from the right hand corner, we'll just choose sales here, party name. I'll just create a new one. Let's suppose that this is a foreign customer, and I want to invoice him in dollars, alternate C, and this is Mr. Williams. I'll just write accounts receivable here, but in your case, if you haven't changed the name of the group, you will find Sunday deters right here. Hit Enter. And let's see that is in from United States and from this particular Georgia region and Control A to save Ignore through all of these details and Enter and Enter. Seal ledger, I'll just select the seals. That's because it's already created. And let's say that I am planning to sell them Corolla windscreen. Not applicable, not applicable, because this is all tracking numbers in order numbers, and I'm selling it from the main location. And in the quantity, I'll just write ten, and it's 400. So 400 durham what I'll do is I'll just write here 400 dorms, which is equal to 108.90. So I'll just mention dollars here, and I'll just mention this amount. Hit Enter. And since the quantity is ten, this makes the total to 3,900 and this drems amount. Totally perfect. 3.67 is the exchange rate, but let's say if you want to customize that according to the current transaction or rate of exchange, you can do it here by simply writing here. End of list. And as you can see, the transaction is now in dollars and the exchange rate is mentioned right here as well. Hit Enter New reference, keep hitting Enter. And in the narration, we can specify the transaction details and press Control A. Now, similarly, if I want to book a purchase invoice, I'll just choose purchase here. I'll just mention the supplier invoice number, and the party name, I'll just create a new one just to pose that this is a foreign vendor, and this is Mr. Mac. This is accounts payable. And United States. And I'll choose any particular region, Control A, we can ignore through all of these details and choose and ignore that. In the purchase letter purchase letter is already configured, I'll choose that. And let's pick an item that we want to purchase. Let's say rear lights. Not applicable, not applicable, and we're purchasing it in the main location main go down, and the quantity is let's say ten, and the read is 200 in drums. What I'll do is I'll just simply write 200 here, which shows the exchange in dollars. So what I'll do here, I'll just put the dollar sign here, put the currency, put the overall rate here per piece, and this would make the total here 1,900 therms at 3.67. Now, let's say there is a change in the value today, and it's 3.70 today. So we can easily change this here and it should be able to change it right here as well. Hit Enter end of list, and again, enter taxable value. You can customize through all of this. New reference, hit Enter and save it by pressing Control A. Now, if you want to see the ledger in foreign currency, how we can do that. So from the Gateway of tele we go to the display more reports and we go to accounts books and we go to ledgers. And from here, I will just choose Mr. Mac here. Mac, hit Ender. And as we can see the transaction is here, currency rate was changed. So we have an unadjusted foreign gain or loss. Similarly, if we check Mr. Williams, we have this amount right here. Now, this one is in the hems. But let's say that this is the foreign customer, right? And I want this ledger to be extracted in dollars, how we can do that. On our right, we have the basis of values option from here. We just enable the show four x transactions only. I want to convert it in dollars, double click to convert it to Control A, and now we should be able to see the dollar amount for all the sales. So that's how we do it. And that's overall how we can deal with the multiple currencies easily in teleprime. Just try this by yourself, and I'll see you in the next one. 95. Printing Invoices in Tally Prime - Complete Print Settings: Video, we are going to see how we can print the invoices in Terry prime, and also we will learn how we can make the complete print settings of all the invoices. So first of all, I have extracted the daybook if you want to extract that. From the IP of Terry, we click on Display Moe reports and we click on the Daybook. Uh, from here, if you want to see for a specific date, you can specify the specific date here. But if you want to set a complete period, we just click next to it, this on arrow sign and click on period. Here we can set the complete period, for example, from first of January till 31st of January, and we click Okay. And now this report is all about a particular month. Let's say that I want to print any invoice. Let's say this sales invoice I want to print, just double click to open this up, and we can see the print option right here at the top. Otherwise, we can also use the shortcut with a combination of alternate because it is with a single dash, that means all of the short keys with the single dash will be used with a combination of alternate key. So hold the alternate key and press P sign, and we want to print the current report. So I'll just choose this one. And this is the basic configuration. The title is all set, print type is set. Print language is English, and we have this printer set already. So if you want to configure and change it to some other printer, you can do that. But otherwise, if you want to just see the preview before even configuring this, you can click on Preview, and that's how the invoice will look. And let's go back. If you want to zoom through it, you can see all of these details specified right here. Pretty simple and straightforward format. Press escape, and if you want to configure it, we can use the simple invoice format. And as we can see that if we scroll down, we have a lot of options to configure here. Let's say that I want to change the printer, I'll just go all the way down to the printer option where we can just change the printer to any printer we want. For example, this one, click Okay, you can set it to portrait on landscape however you want. And now the new printer is set. And we have many other options as well, show amount in words in English. So if you want to enable that, we can do that. Print language is English, print type, it's single. We can do it bilingual, especially if you're in the Arab countries like UA and you want to print the invoice in both. So Arabic and English. Let's go back and see how it looks now, print preview, and that's how it looks. Pretty simple, but it's very useful. Again, press Escape. I can see that the preview is currently like this. That means it will be printed straight away on a blank paper. But let's say that we already are using some kind of letterhead or a special paper on which the print of invoice is made. So in that case, we will use a pre printed paper feature. That will leave some space at the top for the logo and the company name, and that's how it looks. We'll just click here and then click on preview, and as we can see, the format is totally changed according to that. So I'll just change it to plain paper, and that's how it looks. And on our right, we can also see the option of number of copies. So if we want two copies for each invoice, we can do that as well. So let's make it two. And that can be called a duplicate copy. So preview, it will show something like this, the original copy and the duplicate one. Similarly, we go to configure again. And if you want to, let's say, change the title to not just invoice, but sales invoice, and it's sales invoice account tech. Let's say, subtitle should be that. And also, we want the company name to show up, the company address, the company phone number. If you want to enable that, banking details, you can enable that as well. And we have different sections divided. For the footer information, let's say that we want the salesman signature, we will enable the field for that. Base currency and foreign currencies for total, yes, let's say, and we can similarly change it for orders and dispatch details, the party details is separate group. And similarly, we have the header information that you can configure. Then all the voucher details that need to be configured. Once it is all set, we can click on Print Preview. And once everything is finalized, as you can see here, salesman's specimen signature option is here and it looks really good. Click on Print again, and we'll print it for you, just like that. But let's say that I want to see this as a PDF. So what I'll do is I'll just click on this printer option right here and select the Microsoft print to PDF option. Not applicable, just click on print. And it will ask you to save it somewhere. Let me just save it to desktop and just write here PDF invoice of Tel Like, Okay. And now let's see that. As you can see, it looks quite professional and very nice format. Also, it is able to show the amount in Arabic and in words for English. And it's a very nice format. So this is how you can make all the print settings in telprime. Just try this by yourself, and I'll see you in the next one. 96. Use of Statistics Report: Video, we are going to see how we can extract the statistics report in Teyprime. Now, statistics report simply means that you want to analyze how many journal vouchers you have booked, how many payment vouchers you have booked, how many sales invoices and purchase invoices are there. So you want to see each and every single voucher and analyze how many of them in each category do you have. So to extract this, just click on display Moe reports. Click on statement of accounts, and from here, we extract the statistics. So we are in the Ali traders, and we can see the credit note is only one. Debit notes we have one, and we have nine purchases entered. We have three receipts. We have nine sales. We have four journals, and overall, we have this many groups, this many ledgers, these many cost categories and cost centers and stock items. So all categories and document types and vouchers in quantities are being shown here. So this is very good for audit purpose as well. Let's say that if we want to just analyze all the payments, it will just give the numbers, but you can see the details of all these nine vouchers. Just double click here. I will show you that all were booked in January. Just double click here, and it will eventually show you the list of all these nine payment vouchers. And then you can separately analyze. Goes for all the other things. So it is very convenient if especially we are auditing any particular type of voucher. Similarly, if you want to see the ledger details and all the names that is configured as ledgers, we can just double click here and we get a complete list of ledgers along with the group details. So this is how the statistics functions is used in teleprime. Describe this by yourself, and I'll see you in the next one. 97. Setting Reorder Level in Tally Prime: Video, we are going to see how we can set the reorder levels in e prime, and that is a very practical and very useful option that enables you to maintain a good stock level at any time, and it will make sure that it doesn't fall short of the material. Here we have just taken an example of a building material which is brick or construction material, we have thousand in quantity, and we have some quantity sold on order. Now, the minimum reorder level is 300. That means whenever we have 300 bricks left, it should automatically suggest us to order more. And the minimum reorder quantity, let's say from the vendor, this is a condition that we only supply minimum of 500 bricks. So this is the minimum reorder quantity. And same goes for purchases, and all the records are there. So let's see how we can practically implement this scenario in teleprime. The thing to consider here is that, let's say we have thousand in quantity that we already have in stock. We have sold 300 bricks, but quantity on sales order. That means the customer has ordered 500 more, and we have entered that sales order. So what the system does is it will automatically analyze it as 800 gone from the stock. Right now, we have this in stock, but since it is on order, will be soon gone. So that's why it will analyze and see that we have only 200 left in the stock. It will work according to that. So this means the net availability is maintained after the consideration of the sales order and purchase order as well. Now, let's try this on Deli. And for that, I'll just close the existing company, shut this down, and I'll just simply create a new one, click on Create Company, and just name it as reorder Status Company. And let's scrip through all of this other information. I'll just keep all of this as it is. Just I'll mention the current. Just I'll change this one and press Control A. As soon as the company is created, it will ask you to enable some of the features from here. But I'll just ignore this press Control A, and I'll go to create and go to stock item, and I'll create a stock item name brick and hit Enter, if you want to create a group, we can create that alternate C. Let's write it as binding materials. Goes under primary offset Control A, and in the units, we can create a new one unit of M will be each. Formal name, I'll just put E here, and formal name is each, so we don't have the decimal place here, Control A. And let's suppose opening quantity is 1,000 at the rate of $1, and this makes the rule 2000 and accept. No normally if we want to configure the reorder level, it should be shown here. But since the SLS order fats order function is disabled, I need to enable that as well. So for example, if I go to create, I'll just write here sales order or vouchers, I'll click on other vouchers. First of all, just write here sales order. As you can see, it's disabled, double click here to activate, click yes. And SM goes for the other vouchers, I'll just write here purchase. And show inactive, we can see a long list here, and we have the purchase order, but this is disabled. Just double click here to activate this. And now let's go back and click on Create. And now we simply go to Alternate and just right here reorder. I'll just enable the stock group first, building materials. And here we see the reorder quantity, and we have some other advanced parameters as well. So if you want to simple reorder, we will just switch this template to simple reorder level so that it won't confuse you. Reorder quantity is on 300. That means whenever the bricks fall on the 300 level, the stock fall on 300 level, it should be reordered, and the minimum order quantity should be 500. So press Control A, just go back to the main screen. Now, if I want to check the report of it, I'll go from gateway of Tel to display more reports, statement of inventory and select reorder status, select the stock category that is primary, and this is bricks. But otherwise, if I want to check the stock group, we have the building materials right here and we have bricks in the closing stock, and net available stock exists reorder level is set to this, and minimum reorder quantity is this. So whenever we have a shortfall, it will be addressed here and orders need to be placed. Will all suggested be here. So let's try to create a shortfall, and let's see how it recommends to place some orders. Just go back in stock. So what I'll do is to create this shortfall, I'll just enter a voucher where I can just mention that we have a sales. Now, to create this shortfall, I'll just follow this scenario where the quantity sold is 300. So first of all, just make that and we have, let's say, sold it to customer A, alternate C. I'll just create a new customer here, customer A. And since this is a new company, I haven't changed the name. So the Bdfault name is Sunday Debtors maintained Build by balances is and Control A, and we will ignore all of these details, skip through it. And here we will just create a sales letter, configure that. Alternate C, it's very simple to create sales. And it goes under seals two. That's it. Control A, and now we have bricks as inventory, not applicable. Order number is not applicable. So the quantity sold is 300. Red is one. Rate is, let's say, 1.5, and 450 is the total ad on which we are selling, Control A, and Control A to save. And now let's enter a sales order as well. Go to other vouchers and click on sales order from here. And let's continue and just write here. Mr. B, seal account, and Control A, and let's create a party account, Alternate C, Mr. Smith. It goes under Sunday debtors and Control A. Ignore all of these details. Order number, you can place any order number here. Sales ledger, I'll just select sales here. And the item is bricks. Due, let's say, on the same date. And the quantity on order means customer has ordered us 500 items. Rate is 1.5. This makes the total 2750. I can put any iteration here and press Control A, and we have entered it. 300 is already sold and 500 is on order. That means it's below 300 level, so it should recommend to order some more items. Let's see if it does that. Just go back and click on display Moe reports and click on the statement of inventory and click on reorder status and select stock group that is building materials. And now you can see that the net available quantity, it's showing that we have 200 because this quantity is already on order. So orders need to be placed. And how much 500 is the minimum quantity that we ordered from vendor. Now, when you see the order to be placed, that doesn't mean that it will automatically place the order. It will just recommend you. So what we have to do is we will just immediately go to the gateway of Terry, click on the vouchers, and then we create the purchase voucher. So purchase order, I'll just go here. I will immediately order that from vendor A, I'll just quickly create this vendor A because since we are using the new company, and it's in Sunday creditors Control A, and let's ignore all of these details. And place any order number. Purchase ledger, I'll just quickly create that. It goes under purchases and purchase accounts, Control A, and the name of item is BEC due to be delivered on 1 January, and the minimum quantity that we have decided to order is 500. The rate on which we are purchasing is $1, Control A, Control A. And then if we see the reorder status report, just go to the display Moe report and click on the statement of inventory and click on the reorder status. If we click on Stock groups and building materials, it will show us that the closing stock is 700 because we have a pending purchase order soon to be fulfilled 500. So before we had the quantity of 200, and 500 plus that. So closing quantity will be soon 700. So it is above the minimum level of 300. Sales order due is 500 net available is this, reorder level is this. So shortfall, we don't have any shortfall here, remove it from here. Minimum render quantities mentioned, but the orders to be placed, it is not recommending any orders. So this is ideal if you have a lot of stock and you want the system to automatically show you what needs to be ordered and how much. So this is how you can work on the reorder levels in Teddy prime. Just try this by yourself, and I'll see you in the next one. 98. Defining Multiple Price Level Lists in Tally: Video, we are going to see how we can set up the price level list and how we can create the price level list in Teleprime. So let's see. But before that, you need to download this particular assignment with the resources section of this video. So that you can practice and follow along. So the objective is to learn how to set up and apply the multiple price level list in Teleprime for different customers categories. So basically what price level list is, let's say that we are selling these items. We have the Logitech wireless mouse, we have the Laser tet printer, and we have the dell monitor. Let's say the standard selling price is 34 mouse, 184 printer and $240.04 monitor. But if you notice the standard selling price is this, but we have three type of customers. We have retail customers, we have the wholesale customers, and we have the dealer rates. So if we check the retail price, retail price is $30, while the wholesale price is different. Wholesale price is $28 for the same item, and the dealer price is also different. It is $26. We need to make sure that the same item should be costed at different levels automatically, and we don't have to change it manually. We just have to specify that whether the person is a wholesaler, retailer or a dealer. So as soon as we specify that, it will automatically pick up those ads and we don't need to change it manually. So that is the power of price level list. So for that, we need to open any company and we need to enable the feature to use multiple price level list. Let me show you how. Right now, I am in this company then named Empire Textil. So if you want to switch to any other company, let's say, I want to shut this company, I'll just simply go in this company option, L on Shut company, select the specified company, and select yes. And after that, I'll just open any new company, let's say, Ili traders. So here we need to enable the feature of multiple price level list. Just go to the company from the left hand corner at the top and just click on the features. We can also use the F 11 key for that. And we see this option, enable multiple price levels. We need to enable that. Yeah, right, Control A to save. And now let's create some price levels. If we go to Gateway of tell can click on the Masters, click on Create. We have the price level option right here. We can create the price level stock group and stock category as well. But we simply just click on price levels, hit Enter. And we have retail prices, the wholesale price, and the dealer price. So these are three price levels. Hit Enter and Control A to save. We have created these price levels. Now we will create some of the items, and we will consider that we have the thousand in stock for each. So the first item is this. From the masters, create and click on the stock item. This is my first stock, and let's keep it primary. Otherwise, you can create a category for this as well. So quantity is 1,000. Location is main location. Red means standard cost. Stndard cost is there. And accept. Next one we have is Laser jet printer. I'll just copy and base that. It goes under primary each thousand quantity from the main location. And 150 is the cost, except. And then we have the Dell monitor. It goes under primary each and thousand is in stock from the main location, standard cost is 200 and accept. So now that we have created all the items along with the opening quantities, now we will define the price list for the stock groups. So I'll just go to the create option and click on price level stock Group. And since we haven't specified any group for that, I'll just select all items. And first of all, I'll just give the retail prices. As we scroll down, we have the retail prices right here. So just continue with it. Retail prices, and it's applicable from first of January. So here we have the Logitech wildless mouse. Now we can also specify different quantities. That means that if the person buys 0-5 in quantity, the rate will be different and there is any discount or not. You can specify that. But if you miss more quantity, the rate might be different. So you can do that as well. But we will just write here the rate which is $30, and that's it. Next item is HP Laser Jet printer. The retail price is this, and then we have the dell monitor. Dell Monitor, and the read is 240. So specify 240, Control A, Control A. And now we go back and create another one, which is for the wholesale prices applicable from first of January and here we have the Willess mouse. Rate is 28. Then we have the laser Jet printer. Rate is 170, and then we have the dell monitor. The rate of which is 225. Press Control A to save, and now we can specify the dealer rates. We can directly do it from here. I enter. We have the Logitech willess mouse rate, which is $26 at dealer's price. HP laser jet. The ad is 160 and we have the dell monitor. The read of it is 210. Control A to C, and let's go back. Now let's create some customers. I'll just go to create and click on ledgers. And first one is digital computers. And let's write that is a retailer. Retailer. Just to mention that and it goes under account receivable. Now I have changed the name of Sunday debtors to account receivable. That's why I can see account receiv here, but you might see the Sunday debtors. So control A. And then we have the computer zone which is wholesaler, account receivable, Control A, and then we have the RC computers, which is dealer. I'm just writing it bracket for the sake of example. You don't have to mention that account receivable, Control A. Now let's see that if we want to create a voucher and we want to create a sales voucher, and we are selling to digital computers. So digital computers all set. Here, it will ask what kind of customer it is. Is it a retailer, dealer, or wholesaler? So I'll just specify here that he's a retailer. It goes under sales ledger, and as soon as I write wireless mouse, not applicable tracking number and order number, it's from the main location. The quantity that I'm planning to sell is, let's say ten and end of list. It automatically specified the ad of 30, as you can see here. Again, HP laser jet not applicable, not applicable. It's from the main location. Quantity is ten. End of list, it automatically specified it as 180, which is correct. And then we have the dell monitor. Same thing goes here, then, end of list, and the read is 240. So this is for the retail price level list. As soon as I specify this that it is a retail, it automatically picks up the retail prices. Control A. And now let's create one more for the wholesaler, not applicable. And we will skip through all of these retails. Now, this one is a wholesaler. It all depends on what you select here. And seeds ledger. First one is Wilds mouse, and we will just specify it from the main location 20 and end of list. The ad that is applicable is 28. So as you can see, the whole seal rate is applicable here, and same goes for the laser jet printer from the main location. 20 end of list, and the ad is 170. And then we have the Dell monitor from the main location. The quantity, let's say, is 30, and read is automatically selected, which is 225 for the wholesale price. It's perfect Control A, and let's try the dealer prices as well. Let's say our computer is a dealer, and we need to specify here that he is a dealer. Only then it will apply all the prices. So dealer and Logitech Wireless Mouse. From the main location. And let's say that we have 40, we are planning to sell end of list. So now it is picking $26 a read. Perfect. Then we have the HP LaserJet printer. From the main location, ten is the read end of list. This picks up the rate of 160. And then we have the Dell monitor, not applicable from the main location and the quantity is 15. And the read that is applicable here is 210. Control A to C. Okay, here it is giving some other names best buy office supply Company and Dealer Tech Corp. But I have selected some different names. But you can use these names here. So that's how we can apply the price level list to different products in Deriprime. Just try this by yourself, and I'll see you in the next. 99. Import Master Data In Tally Prime: Video, we are going to learn how we can import the data from Excel directly to Tel prime. So let's say we have some transactions or even the chart of accounts or some kind of ledgers or inventory items, so we can import simply from Excel directly into Telprime very easily in the newest version. Let's see how we can do this. For the sake of this example, I'll just create a brand new company. Just go to the company on the right hand corner and click on Shut the company and shut the existing company. After that, click, and we will create a new company from here. And I'll right here, import sample company. Keep the rest of the details as it is, and I'll make it first of January to first of January, Control A. And the company has created successfully Control A again, and now we are on the main screen. Now, if we want to import, let's say, the ledgers, what kind of Excel format do we need? And how we can get that format, that import format, it's very simple to do. Telly has already provided those samples. I'll just simply go to the import from the top corner and click on Manage. And from here, we can use the sample Excel file for the masters. If you want to import all the masters, you have this format, otherwise, you can import the transactions as well. Click on Masters, and there are many kind of masters here, it says all accounting masters. But let's see if you want to import adjust legs, I'll just go to configure here. And instead of this Excel sample, export template. I'll just double click here, and I'll specifically mention here that whether I want to import the masters inventory masters accounting masters or let's say ledgers. I'll just write here ledger, and the file format is Excel. Program files teleprime, I can change the folder path as well, go up. Up. And let's mention it in Tel reports because it's easier for me to find. So I'll just specify that and open the file after Export. Yes. Go back. All the configuration is set, make sure everything is good. Now, the export sample file is ledger. Export and the file should automatically open. This is the file. This is the read me instructions that you want to read before starting the improve process, and the ledger template is this, where we have to specify the name, the group name, ledger opening balances, if you have any rest of the details. Now, if you want to add some ledgers or delete some ledgers, we can do so, and there is an instruction for that here. But it's mentioned that you cannot change the name of any kind of ledger. These are the frills that you can add if you want to, but with the same name. Just remember. And you cannot change or rename any particular specific column, otherwise, it won't be able to import. So for example, if you want to add the description field, I'll just copy this field name and I'll paste this exactly here. And also, if you want to specify any credit period, type of letter, and these details or GST details, you can just copy the same field name and then paste it in the columns so that the new field can be added to import the data. For example, before working on it, I don't need these fields of all the bill amounts and bill details. I'll just right click and delete that. Now I'll use these fields. I'll just copy this and I'll use the support of hat GBT here. I'll just paste that and I'll ask fill the sample Import ledger data details. It should be at least ten ledgers to be imported in teleprime. So as we can see, it has created the data in exact same format. In XYZ enterprise, it mentioned the Sundry data's name, and that's very important. The group name should be the one that is already existing or identified by Ty. So I'll just copy the table here and I'll paste it right here and make sure everything goes in the right column. And after that, we can just delete this extra heading. So all set, I'll just save this. So just make sure that the group name should be the same that is existing in Tel. So for example, cash in hand should always be written like this, bank accounts should be mentioned instead of bank account. Otherwise, it won't be able to import. So that's why I have taken the support of Chat GPT here, and it's very useful. So you can try that. Before importing, if you want to analyze this brand new company, I'll just go to Alter and click on Ledgers to see that we don't have any ledger created, only cache is created by default. So I'll just hit Enter and delete that as well so that it doesn't cause any problem. Now let's save this file. I'll just go to Save As, and I'll show you the location and then I'll show you how we can choose that location. Ledger. This is the location. Save. Yes. And then I can close this. And to import the data, I'll just go to the Import and click on Masters. I'll choose the Excel format, and the file path is up, up, and I'll choose study reports here, ledger and worksheet name is ledger. Default template mapping template is default template. Yes, type of master is ledger that I want to import. Now, we have three options here. Combine the opening balances. That means that we might have already entered some of the ledgers, but there's no opening balance here. So in our sheet in our Excel import sheet, we have some new ledgers and some existing ones as well, but with the opening balances. So what it will do is it will ignore the ledger that already existed, but just it will update it with the opening balance. No duplicates means that if we have already entered some of the ledgers and now it's suggesting the ones that is new and some are from the existing list as well. So it will ignore the duplicates. I will not import the duplicates and will only import the new ones. Modify with new data. That means whenever there is new data, it will automatically modify the existing data and import the new one. So I'll just use Ignore duplicates. Preview import summary. Yes, I want to see the summary before importing this. Up the company data before import. Now it's very useful. That means that whenever you're working of any kind of import, since it is a bulk process and it cannot be undone easily. So that's why it's always recommended to take the backup before proceeding further. So backup destination is set to tell backups by default. Otherwise, you can specify your path as well. So this is the summary of the ledges to be imported. So click on Import and we'll show you that import completed with few exceptions. Okay, press X to view the masters exceptions to resolve them directly from the report, alternatively view them anytime later. So view the exceptions, Master related exceptions. Okay? Just double click here. And group is purchase account is sale account is the only ledges that is not imported. So that's fine. But we can just go to the alter list to see all the ledges. And as we can see, all the ledgers are properly imported in teleprime along with all the details that mentioned here in the mailing names and state and country Pincode, et cetera. And also it has mentioned the opening balances. So see how perfectly the data is imported. We can also view all details from chart of accounts section from the gateway of data, just click on Chart of Accounts and edges, and you should be able to see all the ledgers along with the groups as well. But if you want to click the ledger view, it now only shows the list of ledger name along with the opening balances and the categories. That's how we can import the list of ledgers along with the opening balances in ery prime. And it is a huge time saver, especially if you're working on the new company and if you are implementing a new system in a company and it involves lots of ledgers and opening balances, it might be very, very helpful for you. So just try this by yourself, and I'll see you in the next one. 100. Dealing With Trade Discounts and Cash Discounts in Tally Prime: Video, we are going to see how we can add the discount field in the sales invoices, and also we will see and explore different type of discounts that can be applied to sales invoice. Either it can be cash discount or a trade discount, which is a percentage discount. So let's say that you are selling Willess mouse, and it's on sale, and you are offering at 10% discount. So the percentage discount or trade discount is what you offer at the moment to your customer for all the sales items, and it reduces the overall sales amount directly. It's not charged as an expense. But the other discount can be, let's say the total amount is 280, and the customers asking you for further discount or cash discount while paying, and he just asked or requested you to just round down to a certain amount. So you just give $20 more discount, but that you have decided just at the moment, and you have reduced the amount even further. So that can be cash discount, which is charged as indirect expenses. So how we deal with both of them, let's see. First of all, when we click on vouchers and sealed invoice, as we can see here that there is quantity, there is rate, but there is no column like discount. We need to enable that. I'll just go to the company from the top and from here, just click on features, and here it says, use discount column in invoices. I'll just change this one to and press Control A. Now we have the discount field right here. Just go to the vouchers again. And just choose any customer. Let's say, Daniel, I'll just choose that. And pricelist is not applicable. Sales ledger is already made, and the configuration is pretty simple. If you are creating it for the first time, just alternate C to create, name it as sales goes under sales account. That's it. Control A. And now let's say that we are selling Logitech wireless mouse. Tracking number, order number is not applicable. It's from the main location. Quantity is ten, rate is 26. This makes the total 260. But since we are offering 10% discount to our customers, the overall amount will be reduced to 234 and end of list. As you can see here, now it's applicable, but the customer has requested us to round down eight to 200. So how will we enter this as further discount? How will we enter this cash discount? Let's see. So press Enter to go on the very next line. But on the very next line, if we try to enter some ledger, it's tightly allowing us to only enter the list of stocks. So give one more gap, hit Enter again, and now we can write cash discount here. But since it's not there, we need to create a new ledger, alternate C, and name it as cash discount. It goes under indirect expenses. Of ledger not applicable, Control A, and now we can just directly manually enter -34. And you can notice down here that overall invoice is reduced to 200 and Control A to save, and that's how we apply the trade discounts and cash discounts both in teleprime. Just try this by yourself, and I'll see you in the next one.