INFORMATICS MODULE 6 NOTES



🔰COMPUTERISED ACCOUNTING🔰

 Computerized accounting refers to the use of computer software and technology to record, store, and manage financial transactions and accounting data. It involves the automation of various accounting tasks, such as:

Key Features of Computerized Accounting
1. *Automated Data Entry*: Automatic recording of financial transactions, reducing manual errors.
2. *Data Storage*: Secure storage of financial data, allowing for easy retrieval and analysis.
3. *Accounting Reports*: Generation of financial reports, such as balance sheets, income statements, and cash flow statements.
4. *Tax Compliance*: Automated calculation of taxes, including GST, income tax, and other statutory taxes.
5. *Financial Analysis*: Ability to analyze financial data, identify trends, and make informed business decisions.

Benefits of Computerized Accounting
1. *Increased Efficiency*: Reduced manual effort, faster processing, and improved productivity.
2. *Improved Accuracy*: Minimized errors, ensuring reliable financial data.
3. *Enhanced Security*: Protected financial data, reducing the risk of fraud and unauthorized access.
4. *Better Decision-Making*: Timely and accurate financial information, enabling informed business decisions.
5. *Compliance*: Simplified tax compliance, reducing the risk of penalties and fines.

Examples of Computerized Accounting Software
1. *Tally*: A popular accounting software used by businesses in India.
2. *QuickBooks*: A widely used accounting software for small and medium-sized businesses.
3. *SAP*: A comprehensive enterprise resource planning (ERP) system that includes accounting and financial management modules.
4. *Xero*: A cloud-based accounting software designed for small businesses and accountants.

Computerized accounting has revolutionized the way businesses manage their finances, providing numerous benefits and improving overall efficiency.


🔰FEATURES OF COMPUTERISED ACCOUNTING SYSTEM ( CAS)🔰

Here are the key features of a computerized accounting system:


1. *Automated Data Entry*:

 Automatic recording of financial transactions, reducing manual errors.

2. *Data Storage*: 

Secure storage of financial data, allowing for easy retrieval and analysis.

3. *Accounting Reports*: 

Generation of financial reports, such as balance sheets, income statements, and cash flow statements.

4. *Financial Analysis*: 

Ability to analyze financial data, identify trends, and make informed business decisions.

5. *Tax Compliance*: 

Automated calculation of taxes, including GST, income tax, and other statutory taxes.


6. *General Ledger*: A centralized ledger that records all financial transactions.
7.*Accounts Payable*: Management of vendor invoices, payments, and credit notes.
8. *Accounts Receivable*: Management of customer invoices, payments, and credit notes.
9. *Inventory Management*: Tracking of inventory levels, costs, and movements.
10. *Payroll Management*: Automated calculation of salaries, wages, and taxes.


11. *User Access Control*: Restricted access to authorized personnel, ensuring data security.

12. *Audit Trail*: 
A record of all transactions, changes, and deletions.

13. *Compliance Reporting*: 

Automated generation of statutory reports, such as GST returns and income tax returns.

14. *Data Backup*: 

Regular backup of financial data, ensuring business continuity.


15. *Integration with Other Systems*:

 Seamless integration with other business systems, such as ERP, CRM, and e-commerce platforms.

16.*Scalability*: 

Ability to handle increasing volumes of financial data and transactions.

17.. *Cloud-Based*: Accessibility from anywhere, on any device, with a cloud-based accounting system.


18. *Budgeting and Forecasting*:

 Ability to create budgets and forecasts, enabling informed business decisions.

19. *Cash Flow Management*

: Tracking of cash inflows and outflows, ensuring optimal cash management.

20. *Financial Dashboards*: 

Visual representation of key financial metrics, providing real-time insights.

These features enable businesses to streamline their accounting processes, improve financial management, and make informed decisions.



🔰COMPANY CREATION IN TALLY🔰

To create a company in Tally:

Step-by-Step Process
1. *Gateway of Tally* > *Company* > *Create Company*.
2. *Company Name*: Enter the name of your company.
3. *Mailing Name*: Enter the mailing name of your company (if different from the company name).
4. *Address*: Enter the address of your company.
5. *City*: Enter the city where your company is located.
6. *State*: Enter the state where your company is located.
7. *Pin Code*: Enter the pin code of your company's location.
8. *Country*: Select the country where your company is located.
9. *Currency Symbol*: Select the currency symbol used by your company.
10. *Financial Year*: Select the financial year for your company.
11. *Books Beginning From*: Enter the date from which you want to start maintaining accounts.
12. *Save*: Save the company details.




🔰🔰🔰🔰🔰🔰🔰🔰🔰


🔰To create a company in Tally, follow these steps:

 Open Tally and Select Company Creation
1. Open Tally on your computer.
2. Click on "Company" in the top menu bar.
3. Select "Create Company" from the drop-down menu.
4.Enter details
5.Press enter key / ctrl+A


🔰LEDGER CREATION IN TALLY

 GATEWAY OF TALLY- ACCOUNT INFO- LEDGER - MULTIPLE - CREATE 
 ENTER DETAILS 
PRESS ENTER KEY



🔰Cost centre creation

Gateway of tally - Account info- cost centre- create - enter details - press enter to save

🔰STOCK ITEM / GROUP CREATION

Gateway of tally - inventory info- stock item / stock group - create- enter details - press enter key to save

🔰P& L ACCOUNT.

Gateway of tally - p& l a/c

🔰Balance sheet

Gateway of tally - balancesheet



🔰VOUCHER TYPES

 F4 - contra voucher ( Bank & cash transactions) 

F5 - PAYMENT VOUCHER ( PAYMENT TRANSATIONS)

F6 - RECEIPT ( receipt transactions)

 F8 Sales ( SALES TRANSACTIONS)

F9 PURCHASE ( PURCHASE TRANSACTIONS)

 F7 journal ( OTHER TRANSLATIONS)



🔰👉BANK RECONCILATION

DISPLAY - ACCOUNT BOOK - CASH/BANK- PRESS F5 KEY TO BANK RECONCILIATION







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