Tally Practice Exam

Tally refers to an accounting software which is used by small and medium companies to manage their accounts and finance function. It is al;so used to manage inventory, payroll, and taxation. The software also provides features for GST, ledger management, and balance sheet development.

A certification in Tally verifies your skills and knowledge in using Tally software for accounting and financial management. This certification assess you in ledger, GST, inventory, and financial reports in Tally.
Why is Tally certification important?

• Shows your proficiency in using Tally for financial management.
• Boosts your employability in roles requiring Tally expertise.
• Helps you in gaining promotions or higher responsibilities.
• Validates your knowledge of GST filing and tax management in Tally.
• Showcases your skills in handling inventory records efficiently.
• Ensures your ability to generate precise reports.
• Demonstrates your hands-on experience with Tally functions.
• Useful for independent accountants or consultants.
  

Who should take the Tally Exam?

• Accountant
• Tax Consultant
• Inventory Manager
• Accounts Executive
• Finance Analyst
• Payroll Specialist
• Business Owner (SMEs)
• GST Practitioner
• Bookkeeper
• Accounts Payable/Receivable Executive

Skills Evaluated

Candidates taking the certification exam on the Tally is evaluated for the following skills:

• Accounting Principles
• Ledger Creation and Management
• GST and Taxation
• Inventory Management
• Payroll Management
• Financial Reporting
• Voucher Entry
• Budgeting and Costing
• Reconciliation
  

Tally Certification Course Outline
The course outline for Tally certification is as below -

• Overview of Tally software
• Installation and setup

• Basics of accounting
• Double-entry bookkeeping

• Creating and managing ledgers
• Types of vouchers and their usage

• Stock groups and categories
• Batch-wise inventory details
• Inventory valuation methods

• GST concepts and implementation
• Filing GST returns
• TDS and TCS management

• Employee records
• Salary structure creation
• Statutory compliance (PF, ESI)

• Cheque management
• Bank reconciliation process

• Generating profit & loss statements
• Balance sheet preparation
• Cash flow and fund flow statements

• Setting budgets
• Cost center and category management

• Data security and backup
• Customization and Tally add-ons