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Tally Interview Questions and Answers

Ques 26. 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 27. How can you handle reverse charge transactions in Tally?

Reverse charge transactions in Tally involve the recipient of goods or services paying the tax instead of the supplier.

Example:

To record a reverse charge entry: Accounting Vouchers > F7 (Journal) > Enter details > Save

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Ques 28. What is the purpose of 'TallyShop'?

TallyShop is an online marketplace within Tally where users can find and purchase add-ons, plugins, and customizations.

Example:

Explore TallyShop to enhance Tally functionalities with additional features.

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Ques 29. 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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Ques 30. Explain the concept of 'Interest Calculation' in Tally.

Interest calculation in Tally allows users to calculate and track interest on overdue payments or outstanding amounts.

Example:

To set interest rates: Gateway of Tally > Accounts Info > Ledger > Set interest parameters > Save

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