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WithoutBook LIVE Mock Interviews Tally Related interview subjects: 8

Interview Questions and Answers

Know the top Tally interview questions and answers for freshers and experienced candidates to prepare for job interviews.

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The Best LIVE Mock Interview - You should go through before interview

Know the top Tally interview questions and answers for freshers and experienced candidates to prepare for job interviews.

Interview Questions and Answers

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Intermediate / 1 to 5 years experienced level questions & answers

Ques 1

Explain the concept of double-entry in Tally.

Double-entry is a fundamental accounting concept where every transaction affects at least two accounts, ensuring the accounting equation remains balanced.

Example:

If you purchase inventory for cash, it increases the inventory account and decreases the cash account.
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Ques 2

Explain the voucher entry in Tally.

Voucher entry in Tally involves recording financial transactions, such as sales, purchases, payments, and receipts.

Example:

To record a sales voucher: Accounting Vouchers > F8 (Sales) > Enter sales details > Save
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Ques 3

What is the purpose of the Tally Audit feature?

Tally Audit is used to track changes made in the company data, providing security and accountability.

Example:

Gateway of Tally > F3 (Cmp Info) > Security Control > Enable Tally Audit > Set features > Save
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Ques 5

What is TallyPrime and how is it different from Tally ERP 9?

TallyPrime is an upgraded version of Tally ERP 9, with enhanced features and a more user-friendly interface.

Example:

TallyPrime offers improved navigation and customization options compared to Tally ERP 9.
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Ques 6

How can you track inventory in Tally?

Inventory tracking in Tally is done through 'Inventory Vouchers' like Stock Journal and Stock Transfer.

Example:

To record stock transfer: Inventory Vouchers > F7 (Stock Transfer) > Enter details > Save
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Ques 7

Explain the concept of Cost Centers in Tally.

Cost Centers in Tally help track expenses and incomes associated with specific departments or projects.

Example:

To create a Cost Center: Gateway of Tally > F11 (Features) > F1 (Accounting Features) > Enable Cost Centers > Save
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Ques 8

How can you manage multiple currencies in Tally?

To manage multiple currencies, go to Gateway of Tally > F11 (Features) > F3 (Statutory & Taxation) > Enable Multi-Currency > Save.

Example:

Gateway of Tally > F11 > F3 > Enable Multi-Currency > Save
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Ques 9

How can you handle payroll in Tally?

Payroll in Tally is managed through 'Payroll Vouchers' where salary details are recorded for employees.

Example:

To create a Payroll Voucher: Payroll Info > Vouchers > Create Payroll Voucher > Enter details > Save
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Ques 10

Explain the concept of Budgets in Tally.

Budgets in Tally help in planning and controlling expenses by setting predefined financial targets.

Example:

To create a budget: Gateway of Tally > F11 (Features) > F1 (Accounting Features) > Enable Budgets > Save
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Ques 11

Explain the concept of 'Zero-Valued Entries' in Tally.

Zero-valued entries in Tally are transactions with no monetary value but are recorded for informational purposes.

Example:

Creating a zero-valued entry for a free sample distribution.
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Ques 12

How can you handle batch-wise inventory in Tally?

Batch-wise inventory in Tally involves tracking items based on production or purchase batches, allowing better control over stock.

Example:

To create a batch: Inventory Info > Batches > Create > Enter details > Save
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