Accounts : Let’s start from Basic

This blog is for all those who wanted to learn  accounts with basic. Understanding basic accountancy is very much needed and it will help you to understand financial properly otherwise you will be lost and will search over Google here and there and every where

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The most important thing in business without which business activities in relation to financial matters becomes clueless and have no goals, no ideas where they are going, where they started, where they are right now, what will happen.

In a Business a lot of transaction occurs and at each steps one needs to record them, monitor them, needs various reports from the past and current data so the future plan and financial goals can be achieved otherwise every efforts becomes meaningless

As Many of you already aware some basic rules of accounts yet i will go again with the same rules which are the life line, and root of entire accounts

When a financial transaction incurred, it has two effects
1. Money, goods, property changes hands
2. It may result in a profit or loss or neutral to the concerned party

The transaction when recorded, it always in the following way
1. One account is debited
2. The other account is credited

These are the thumb rules of accounts and a bit more thumb rules will be in my next post

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107 thoughts on “Accounts : Let’s start from Basic

  1. i learn tally , but no one teach me very well .in this i can say i am nil to understand tally .but i desperately want to know tally n also want to work with it without any problem but i don’t understand if a have to make a ledger which group i should do yes n in ledger so many thing happen what thing should i do yes on no that i don’t understand. do u please help me i will be very thankful to you

    thanking you

    • Rajalakshmi says:

      I learn tally but no one teach well in this i can say iam nill understand to tally but i desepearetly want to know tally in also want to work with it without any problem but i donot understand if a have to make a ledger which group i should do yes n in ledger so many thing happen what thing should i do yes on no that i donot understand. do you please help me i will be very thankfull to you

    • hy i am arbind singh i am commerce grad but i am new listner of talty 9.0
      even i have one book of m c shukla but it is not sufficient for me .would you teach me

      • Arabind,
        MC Shukla’s book is one of the best book I ever seen in my life to learn basic to advanced accountancy
        Trust me, I had learn entire practical accounts only from that book.
        You should practice all the examples set down there after studying the basic principles if you found any problem to understand some aspect or have further query, you can always post your query on our Support Forum
        I will be glad to solve the same.

    • dear Priya,

      dont worry . Tally is very simple. U can download the documents from and start studying the pdfs or ppts and u will understand everything . if u have doubts u can ask.

      • i know basic accountency , i want to learn tally in simple method, how much time to take to learn tally.

    • i learn tally , but no one teach me very well .in this i can say i am nil to understand tally .but i desperately want to know tally n also want to work with it without any problem but i don’t understand if a have to make a ledger which group i should do yes n in ledger so many thing happen what thing should i do yes on no that i don’t understand. do u please help me i will be very thankful to you

      • Shiv Ram,
        This is very easy to know which ledger belongs to which group.
        just remember, All expense ledger will go either direct or indirect expenses. for a beginner like you at this stage, it is not important to understand the difference between Direct & Indirect Expenses Group. Select indirect expenses and make the ledger. primarily the expenses ledger needs only a group and nothing else

  2. I can make you expert in Tally.
    Please fill up the Cform Test as appearing in the top left side of this site.
    Best Regards,

    • i want to be an expert in tally, please help me

    • hello sir i want to learn tally with in 1year

    • Hello sir, how are you? i hope you are fine. well i realy gat happy after visiting this website as i realy want to learn tally, ok let me come to the point, you see i work here in tanzania in one clothing company as a store keeper, currently i am using exel to keep all the stock of about 300 different items which are divided into two groups (grade A and Grade B), the only thing which makes me to learn tally is alot of quaries.. as we have alot of customers, alot of offloading and ofcourse alot of items but only little time!! as you know in exel we can not have things like a day book and stuff, will you please teach me how to use tally for this sir?? or you can recommend me a book to use! i will realy appreciate your help as i dont have time to attend classes.. my home time is just too late due to alot of work in our company sir..

      Thanking u in advance respected sir..


  3. hiiii i want to learn tally at home as iam nt able to manage to attend the classes for tally so now iam just blank about tally but iam a commerce student and done my Bcom so it will be easy for me to undstand it, i hav the lates version of tally something like 9.0.

    please help me to learn tally..


  4. Hello Sir
    I want to learn tally 9.0 as I am a commerce student I have also completed my T.Y.Bcom but I am week in accounting and still I want to learn tally as I am not able to go fr classes becoz of my job. so I requst u to teach me tally 9.0.


    • Pranita,
      First of all, you need to download an educational tally.erp 9 software which is available for free on the download section of this site.Then please refer the article on step by step company creation in tally.erp 9. for more details you can send me mail or can follow me on gtalk, twitter or facebook whichever is convenient

      • i want to know what benefit to us,  doing tally erp.
        and how much we get salary after completing tall

      • i just buy Tally 9.0 silver version.
        and dont know how to start it.
        would you do me a favor? my yahoo ID
        send me practial cases wil be appreciated.
        my tally serial number is 75xxxxx

  5. ashok dubey says:

    My age is 45 yrs. my brother has started a business which is just one year old. neither he nor i know anything of accounts. he hasd an accountant who keeps the books. we would like to learn accounts and tally. please help us. what should we do to learn accounts and know what the accountant is doing. thank you.

  6. ashok dubey says:

    i could not open &quot page
    i am new on computer and do not know much of it
    what is facebook rss twitter and i did start chat but got no reply
    i get to use the computer only in the mornings
    thank you

    • Dear Ashokji,
      No Problem, I will not make things more complex and we will go on simple way.
      To understand accounts, you have to keep in touch with me. Now start keeping a watch on your accounts.
      First of all, you need to have some basic knowledge of accounts.
      I am giving you link of some basic articles which will help you a great extent
      Please browse this <a href="”>basic rules of category
      what I meant to say is that just click the anchor text( basic accountancy as shown in bold in above line) and you will be directed to the related page.
      Once you understand this basic rules, Then I will guide you further. Meanwhile you may send me your queries or doubts at any time without hesitation.

  7. hii this is sameer i have an doubt tat i want to be clear so please help me. in tally if gave 12.5kg means it shows 13kg only y ex rama purchased apple 12.5kg in tally it shows 13kg

  8. i have a doubt some material we will purchase in kgs but we will sell in nos ex raju purchase a 100kg of strips which contain 100 nos of strips but i have to sell tat strips into nos

  9. Sir,

    i m learning tally but its very difficult to understand how it works. Even being a commerce student my accounts is average. i get confused while making entries. I really wanted to be very perfect in accounts. If you can provide me a notes on accounts and teach me tally i will be very grateful to you.

  10. @Mahendra
    Sir I am putting up in Delhi.
    And I am in urgent need to learn tally .. can u please suggest me any book or link where can I get all information about tally.
    Can you please share email-id or your contact no. so that it will be easy for me to contact you.
    Shobhana Tripathi

  11. sangeeta munshi says:

    hello sir ,

    I am living in haryana.Iam urgent need to tally.

    • shakrar husain says:

      hello sir ,

      i m shakrar husain live in delhi , i m a simple commerce graduate write now i m talking tally classes in an institute i want to ur help

      plz rply soon

      thanking u.

  12. I Dontknow the how to learn tally please send me some free hand books for learning,

  13. navin kumar singh says:

    Dear Sir,
    I am Pass out Inter with science, Graduation with general arts(pass course).
    Sir I am interested with tally but I have no knowledge to how start tally. so sir please send me on my email id step by step for bignning tally.
    Thanks Sir,
    Your faithfully
    Navin kumar singh

  14. Hi sir,i want to learn tally.So i request you to teach me tally.

  15. Hi
    iwill be glad if you could teach me tally online.

  16. Dear Sir
    Iam kunhu
    how to print in modifyde type

  17. sandhya rani sethi says:

    I’m housewife.trying for a gud job,so i want to learn tally in proper way through net.plz help.

  18. sandhya rani sethi says:

    Sir, i want to learn tally in easy plz send me tally papers sep by step through mail.plz.

  19. i want to learn tally in easy way. so please send me tally papers step by step through mail.

  20. Ruhee gupta says:

    I want to learn tally.I don’t know its basics also. I am totally nil n want to learn as early as possible

  21. Ramesh Pokhrel says:

    Dear sir,
    How much data can we store in Tally 9? And how to use LIFO & FIFO method in Tally 9?

    Thanks in advance for reply.

  22. Ramesh Pokhrel says:

    Dear sir,
    Could you share the idea how to set in inventory valuation for LIFO or FIFO method. Thanks in advance for the reply.

    • Ramesh,
      Go to item master and you will see valuationethod.just select LIFO or FIFO as per your choice.if your tally screen does not show valuations method than press F 12 and set advance entry yes

  23. Ramesh Pokhrel says:

    Dear sir,
    I have been using Tally from last 5 years.Now I mention problem and stock report which is shown by Tally 9. Material name BAG
    Purchased Qty Rate Amount
    1/1/2011 200 40.00 8,000.00
    3/1/2011 300 30.00 9,000.00
    4/1/2011 400 40.00 16,000.00
    5/1/2011 500 20.00 10,000.00

    Delivered Qty
    4/1/2011 600
    6/1/2011 100
    7/1/2011 200

    finally I checked stock value using different method ( FIFO, LIFO Annual, Last purchase cost, FIFO Perpentual) but I got the same Rate 30.71 and i am sure that it is come if we use weighted avg. method. So I want to know how comes the same rate in diferent method.

    Thanks in advance for the nice reply.

    • Ramesh.
      Waighted average valuations is yet not supportedvin tally.perhaps u r refferring to average cost. I confirm Fifo.Lifo etc all methods r giving perfect result in Tally.

  24. Nishan Pokhrel says:

    Dear sir,
    If we choose the automatic voucher number and when we delete any one of them at that time all voucher number which comes later from deleded no. automatically change. Is there any idea to stop the voucher number changing? eg. if we deletae voucher no 5 at that time 6 will be 5, 7 will be 6, 8 will be 7……………….like this.

    Waiting valuable reply
    Thank& Regards

    • Nishan.
      Instead of deleting a voucher use cancel. N if you are not comfortable with cancellation you can do with a tel called auto mannnal voucher number.

  25. Nishan Pokhrel says:

    Dear sir,
    Thanks for reply but I am not getting the option of CANCEL. Could you help me how to calcel the vouter.

  26. Nishan Pokhrel says:

    Dear sir,
    Thanks for your answer. But I got a problem which is mentioned above by Mr. Ramesh and I checked that problem but got the same result which was found by Mr. Ramesh. Then I also tried to solve the following problem.

    Received Goods.

    Date Qty Rate
    1/1/2011 500 40.00
    3/1/2011 400 30.00

    Date Qty
    4/1/2011 600

    But closing stock is shown 300 @ 35.56 in different stock valuation method ( FIFO, LIFO Annual, Last purchase cost, FIFO Perpetual avg. cost) so how it is coming the same rate in different method? Could you advice pleaee?

    • Nishan n Ramesh

      Whilevcreating a new item master one shold select the default valuation medhod e.g. FIFO or LIFO.
      Even if you have not selected it it does not have any effect.valuations refers to closing or opening stock unfortunately people have s misleading impressions and they generally consider n relate it with issue price.
      O would recommend you chlorine valuations as op. Stock + purchases – less closing stock using any method say FIFO or LIFO. you will get correct closing valuations

      • mohd ilyas says:

        Hi sir
        this is mohd ilyas from Hyd.want to state that i want to learn accounts with a proper way that is with basics so plzz can u suggest me how can i learn plzz mr.mahendra sir help me this is my cont no-9032028236


  28. Nishan Pokhrel says:

    Dear sir,
    Can we find the invoice no with the help of delivery note no? eg. I made DN 123 and passed invoice no 555 but later i forgot wheather invoiced or not against DN 123. But I need the invoice no 555 with the help from DN. please make sure that I am not asking regarding SALES BILL PENDING.( Suppose now I have DN 123and I need invoice no of the same DN.)

    Thanks & Regards


  29. Ramesh Pokhrel says:

    Dear sir
    At invoiing or delivering time I need to mention the last rate of the same goods for the same company which should come automaticelly. Is this facility avliable in tally? but I know the pricing method.

    Thanks in advance for the reply

  30. i have tally data of a company in my pen drive.i want to see on my to proceed?

  31. jamil ahmad says:

    I want to learn tally9 online because i know that your programme is very better for us.

  32. Respected Sir,

    I have done in 1st div and presently i am working.I want to learn tally know and just want to know good institutes(Delhi) from where i can learn it.


  33. I want to learn tally9 online because i know that your programme is very better for us.

  34. i dont know accounts. i want to learn tally on tamil. it is posssible a sir

  35. how can i follow you on twitter

  36. dear sir,

    i want short cut keys to used in tally


  37. Hi Sir, i want to learn complete Tally ERP 9 and i m very eager to learn it and i m ready to do hard work for it. So, Pls teach me from 1rst Step.

  38. DEAR SIR





  39. my self sabbir..I m from arts background…but I have the ability to learn tally ..if some one help me..

    i belive i will get help

  40. AJAY G ASWANI says:

    I am 47 , working as an accountant, want to learn tally erp 9, I know it will be very helpful for me. i have some knowledge of tally 7.2 if i can learn tally erp 9 within 10 days le reply.

  41. sneha kulkarni says:

    i am science student n will i be able to learn tally and accounting

  42. Rajneesh Kumar Bhakta says:

    Respected Sir,

    I know the basic accounting,still working with Pvt.Ltd firm.and earning 15kpm,but im not satisfied with this,is there any advance courses in tally which help me to earn more…if so pls guide meT

    Thanks & Regards

  43. Nikunj joshi says:

    i am working in distributors pharmaceutical foreign country co.And i want to know tally from basic level though i only know my studied level accounts knowledge and i recently change my profession from stock market to accounts .so pls suggest me some guidance regarding to be a good at acconting.
    waiting for your reply . thanking you
    your faithfully.

  44. vishal arjun wakchaure says:

    i am 12th scince can i learn tally. if yes than who in nashik,mh

  45. hi mahendra sir iam arun kumar from kukatpally i want learn tally from basics perfectly i want to join tally classes

  46. I am learning at home by myself the basic accounting, please guide me as i am stuck at two things in the journal chapter.
    1. Took loan from bank
    2. interest on bank balance credited by bank.
    I want to know the following:
    (a) two accounts involved in the transactions
    (b) types of accounts
    (c) rule for debit and credit
    (d) accounts to be debited and accounts to be credited
    and most important of all (e) the reason for the above.

  47. i want learn each and every thing basic level of tally and tally erp, please help me how can study?
    please refer a good book

  48. mukasa brian says:

    please thank you for the help,Mr.Mahendra i need your assistance in making sure when am posting in vouchers am able to set a date as the transaction because when i press F2 and set the date i want, it seems ok but i go to the day book to view my voucher entries as on different dates it only brings the one i have just set and all others of different dates seem lost not until…….reopen the company again

    kind regards

  49. Md Kabirul Haque says:

    I have no background of commerce. But right now I have to learn tally.ERP 9 .Please tell me how can I start ? and if you can please give me basic manual. Thanks……..

  50. krishna pathak says:

    krishna pathak
    Dear sir,
    I have already had a downloaded icon called nepali – english calender setup in tally9 which i used for three months. I want to use both the date but furthermore i have no idea how to save the date, which helps me to make my work easier changing automatically. That’s why plz sir i want to learn the idea and want to apply it in tally9. I will be waiting for your positive and easy answer.
    . yours faithfully,
    krishna pathak, from Nepal

  51. hello sir…i have a small query…is it possible to learn tally without having any knowledge about accounting and commerce?

  52. shamsher singh says:

    i want to learn tally at home as iam nt able to manage to attend the classes for tally so now iam employee in automobile line please guide me about tally step by step in computer

  53. respected sir,
    I learn accounting. pls guide me

  54. I want to learn tally in online

  55. just i want to learn tally 9

  56. Dear Mahendra Sir,

    In Tally Audit Tools only Voucher and Ledgers Tab are showing but User’s tab are not showing there so please suggest me how to user tab will shown in Tally Audit Tool

  57. sir,
    My tally 9.0 doesn’t accept the date in the voucher entry.

  58. Dear Mahendra Sir,

    In Tally Audit Tools only Voucher and Ledgers Tab are showing but User’s tab are not showing there so please suggest me how to user tab will shown in Tally Audit Tool

  59. mahender kumar says:

    can u tel me how to entrt the import purchse and sales invoice to tally erp
    sir but i was enter import purchse but per atam cost is not coming propalay

  60. hi sir, pls help how pass bank statement entries in tally.

  61. i want to learn tally at home as iam nt able to manage to attend the classes for tally so please guide me about tally step by step in computer.I have completed my M.Com,but i am not having any knowledge of tally.And also guide me which website is good to learn tally by my own.

  62. Anupam bor gohain says:

    i want to learn Tally 9.0 how can i learn plz suggestion?

  63. seruyaange henry says:

    good to know that a new advanced method of tally has been introduced but does it apply to construction companies

  64. Hai Sir , How r u Sir , Pls I want to learn tally 9. I am a commerce student I have also completed Bcom . but still I want to learn tally as I am not able to go classes .but i got job in Accounts department basic learn in tally but full learn tally Please help me sir , Thanking you

  65. payal sarraf says:

    hi sir, i m payal..sir i have no knowldge about tally…. no one teach me… please help me…

  66. hi sir pls kindly help me in learning tally

  67. HI sir, this is TAUSIF AHMED, I am running a cargo clearing and at present doing manual accounting. Can u guide me how i maintain my accounts in tally 9

  68. SSI unit Have tally n accountant runs tally.To learn
    Basics f accts n feed in tally to do on my own.

  69. Tade Oguntade says:

    i have a free tally 9 not erp silver single user, i discover that to change date is no go area. can you please teach me how to go about it?