TS Grewal Accountancy Class 11 Solution Chapter 23 Accounting Software Tally

Read TS Grewal Accountancy Class 11 Solution Chapter 22 Accounting Software Tally (2019-2020) below, students should study TS Grewal class 11 Accountancy available on Studiestoday.com with solved questions and answers. These chapter wise answers for class 11 Accountancy have been prepared by teacher of Grade 11. These TS Grewal class 11 Solutions have been designed as per the latest NCERT syllabus for class 11 and if practiced thoroughly can help you to score good marks in standard 11 Accountancy class tests and examinations

 

Question .1  What is ‘Group’ in Tally?

Answer  1.

Groups are collection of ledgers of the same nature. Account Groups are maintained to determine the hierarchy of Ledger Accounts which is helpful in determining and presenting meaningful and compliant reports. It is used for preparation of Financial Statements that is Profit and Loss Account and Balance Sheet. The Group behavior is classified into Capital or Revenue and more specifically into Assets, Liabilities, Income and Expenditure. The Groups ascertain whether the same will affect Profit and Loss Account which is revenue in nature or Balance Sheet which is capital in nature.

 

Question .2   How many types of vouchers are there in Tally?

Answer  2.

There are four types of vouchers in Tally as given below:

(i) Receipt: To record receipts of money by cash, cheque, bank transfers, etc.

(ii) Payment: To record payments of money by cash, cheque, bank transfers, etc.

(iii) Journal: To record all non-cash transactions (all accounting tractions not involving any cash or bank ledger).

(iv) Contra: To record transfer of funds between Cash and bank Accounts.

 

Question .3  What are the salient features of Tally?

Answer  3.

The salient features of Tally as given below:

(i) Simplicity: Accounting Software’s are easy to setup and simple to use. It also generates easy to understand Financial Report.

(ii) Speed: They are capable of generating instant and accurate reports, which assist the management in taking timely decisions.

(iii) Power: They are capable of maintaining accounts of multiple companies and with unlimited levels of classification and creating grouping capabilities.

(iv) Flexibility: They provide flexibility to generate instant reports for any given period or any point of time besides providing the facility to switch from accounting to inventory reports or to any other report of the same company or any other companies.

(v) Scalability: They normally suit any style of business needs and eliminate the necessity for a business to change its style of operation, in order to adopt to the application.

(vi) Real Time Processing: Accounting transactions are immediately posted and updated in the books of account on the tractions being recorded thereby facilitating instant statements and reports. They also have facilities of real-time multi-user environment.

 

Question .4   Name any four pre-defined primary groups in Tally?

Answer  4.

The following are four pre-defined primary groups in Tally.

1. Branch Division

2. Capital Account

3. Current Liabilities

4. Current Assets

 

Question .5   Write the name of pre-defined ledger in Tally?

Answer 5.

The following are the name of pre-defined ledger in tally:-

1. Capital Account

2. Profit and Loss Account

 

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TS Grewal Class 11 Solutions: Double Entry Book Keeping Financial Accounting
TS Grewal Accountancy Class 11 Solution Chapter 1 Introduction of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 2 Basic Accounting Terms
TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Standards and IFRS
TS Grewal Accountancy Class 11 Solution Chapter 4 Bases of Accounting
TS Grewal Accountancy Class 11 Solution Chapter 5 Accounting Equation
TS Grewal Accountancy Class 11 Solution Chapter 6 Accounting Procedures Rules of Debit and Credit
TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher
TS Grewal Accountancy Class 11 Solution Chapter 8 Journal
TS Grewal Accountancy Class 11 Solution Chapter 9 Ledger
TS Grewal Accountancy Class 11 Solution Chapter 10 Special Purpose Books I Cash Book
TS Grewal Accountancy Class 11 Solution Chapter 11 Special Purpose Books II Other Book
TS Grewal Accountancy Class 11 Solution Chapter 12 Accounting of Goods and Services Tax (GST)
TS Grewal Accountancy Class 11 Solution Chapter 13 Bank Reconciliation Statement
TS Grewal Accountancy Class 11 Solution Chapter 14 Trial Balance
TS Grewal Accountancy Class 11 Solution Chapter 15 Depreciation
TS Grewal Accountancy Class 11 Solution Chapter 16 Provisions and Reserves
TS Grewal Accountancy Class 11 Solution Chapter 17 Accounting for Bills of Exchange
TS Grewal Accountancy Class 11 Solution Chapter 18 Rectification of Errors
TS Grewal Accountancy Class 11 Solution Chapter 19 Financial Statements of Sole Proprietorship
TS Grewal Accountancy Class 11 Solution Chapter 20 Adjustments in Preparation of Financial Statements
TS Grewal Accountancy Class 11 Solution Chapter 21 Accounts from Incomplete Records Single Entry System
TS Grewal Accountancy Class 11 Solution Chapter 22 Computers in Accounting
TS Grewal Accountancy Class 11 Solution Chapter 23 Accounting Software Tally
TS Grewal Class 11 Solutions: Double Entry Book Keeping Financial Accounting (Old Book)
TS Grewal Accountancy Class 11 Solution Chapter 1 Basic Accounting Terms
TS Grewal Accountancy Class 11 Solution Chapter 2 Accounting Equation
TS Grewal Accountancy Class 11 Solution Chapter 3 Accounting Procedures Rules of Debit and Credit
TS Grewal Accountancy Class 11 Solution Chapter 5 Journal
TS Grewal Accountancy Class 11 Solution Chapter 7 Origin of Transactions Source Documents and Preparation of Voucher
TS Grewal Accountancy Class 11 Solution Chapter 7 Special Purpose Books Cash Book
TS Grewal Accountancy Class 11 Solution Chapter 9 Bank Reconciliation Statement
TS Grewal Accountancy Class 11 Solution Chapter 10 Trial Balance
TS Grewal Accountancy Class 11 Solution Chapter 11 Depreciation
TS Grewal Accountancy Class 11 Solution Chapter 12 Accounting for Bills of Exchange
TS Grewal Accountancy Class 11 Solution Chapter 13 Rectification of Errors

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