Tally prime

INTRODUCATION:
Tally Prime is comprehensive business management and accounting
software for small and medium-sized businesses, offering features for
accounting, inventory, payroll, and tax compliance, with a focus on user-
friendliness and operational efficiency. It is the latest version of Tally.ERP
9, designed with a simplified interface and enhanced multitasking
capabilities to streamline workflows and improve decision-making through
detailed business reports.

Key features and benefits:

 Business Management:
It provides a complete solution for managing finances, inventory, payroll,
and cash flow for businesses of all sizes.
 User-Friendly Interface:
Tally Prime features a simplified and intuitive interface, making it easier to
navigate and use compared to previous versions.
 Streamlined Workflows:
 The software allows users to multitask, switch between different reports
without losing progress, and simplifies data entry.

 Insightful Reporting:
It generates detailed financial and business reports, helping owners make
informed decisions about their company's strengths and weaknesses.
 Tax & Statutory Compliance:
Tally Prime Handles Goods and Services Tax (GST) and other statutory
compliance, including e-invoicing, making tax filing easier.
 Improved Efficiency:
By automating repetitive tasks and providing real-time access to business
data, Tally Prime increases overall productivity and efficiency.
 Flexibility and Customization:
The software offers built-in customisability and flexibility to cater to the
specific needs of different businesses.

History of Tally Prime

 Tally versions:
Tally versions have evolved from basic accounting software to advanced
ERP systems, with key versions including Tally 4.5 (DOS-based), Tally 5.4
(graphical interface), Tally 6.3 (Windows compatibility and VAT), Tally 9
(payroll and tax features), Tally.ERP 9 (GST, remote access, invoices), and
the latest, user-friendly TallyPrime, which offers improved navigation,
multitasking, an Edit Log feature, and an Invoice Management System for
enhanced GST compliance.

Here's a brief history of Tally versions:

 Tally 3.0 (1990): Offered basic accounting features.
 Tally 4.5 (1994): An MS-DOS based software.
 Tally 5.4 (1996): Introduced a graphic user interface.
 Tally 6.3 (2001): Compatible with Windows and added VAT calculation
features.
 Tally 7.2 (2005): Introduced integrated management tools for VAT, TDS,
and TCS.
 Tally 9 (2006): Added payroll and other tax management features.
 Tally. ERP 9 (2009): Featured GST calculation, multi-user login, remote
access, and invoicing capabilities.
 Tally Prime (2020): This is the current generation, designed with an
improved user experience, easier navigation, and multitasking. Recent
updates like Tally Prime 6.1 (June 2025) include an Invoice Management
System (IMS) for better GST and ITC tracking.

Advantages of tally prime

Tally software offers advantages like a user-friendly interface,
comprehensive financial reporting (including customizable reports), cost-
efficiency, robust security, and real-time data access for quick decision-
making. It also provides features for GST and tax compliance, automated
data entry, remote access, multilingual support, and efficient inventory and
payment management.

Key Benefits of Tally:

 Ease of Use:
Tally's intuitive design makes it accessible, even for users with basic
accounting knowledge, simplifying complex financial tasks.
 Comprehensive Financial Management:
It offers a full suite of accounting tools, including double-entry
bookkeeping, managing accounts payable and receivable, and generating
key financial statements like balance sheets and profit & loss reports.
 Real-time Reporting:
Access to up-to-the-minute financial reports and data empowers
businesses to make timely and informed decisions.
 Cost-Effective:
Tally is a budget-friendly option compared to other ERP solutions,
providing powerful capabilities without significant financial strain.
 Enhanced Data Security:
The platform includes multi-level security features to protect sensitive
accounting data from unauthorized access and breaches.
 Automated Processes:
Tally can automate data entry, which reduces manual errors, saves time,
and improves overall accuracy.
 Tax and Compliance Tools:
The software simplifies tax calculations, helps manage various taxes (like
GST, VAT, and TDS), and generates tax-compliant records and reports.
 Remote Access & Flexibility:
Features such as Tally on Cloud and mobile applications allow users to
access financial data and manage their businesses from anywhere, at any
time.
 Multilingual Support:
Tally breaks down language barriers, enabling businesses to conduct
accounting operations in multiple languages.
 Inventory Management:
Features like stock aging reports help businesses monitor inventory levels
and identify areas for cost savings.
 Streamlined Invoicing:
Create error-free bills with auto-captured price details, and easily add QR
codes and payment links to invoices for faster payment processing.
 Disadvantages of Tally prime

Disadvantages of Tally Prime include a steep learning curve, potential data

loss due to its offline nature, limited integration with other software, difficulty
in customization, and potential compatibility issues with certain operating
systems like macros. Its lack of robust features for non-accounting
business functions like digital marketing, and challenges with real-time
syncing for multi-branch operations and remote access can also be
significant drawbacks for some businesses.

Technical & Functional Limitations

 Learning Curve:
While it has an improved interface, Tally Prime can still have a steep
learning curve, requiring significant time and resources for staff training.
 Limited Integration:
Tally Prime offers limited interaction with other software programs, making
it challenging to connect with essential business tools like CRM or ERP
systems, reports suggests this could be a drawback.
 Lack of Advanced Features:
The software is primarily designed for financial administration and
accounting, lacking advanced features for other business areas such as
digital marketing, sales, or human resources.
 Customization Issues:
Customization options are limited, and businesses may need to hire
developers for tasks like customizing invoices.
Operational & Infrastructure Challenges
 Remote Access Limitations:
Tally Prime, particularly the server version, is not designed for extensive
remote access, posing a significant challenge for businesses with
distributed teams or flexible work arrangements.
 Offline Nature & Data Risk:
As a desktop-based application, Tally Prime carries a risk of data loss or
intrusion due to its offline nature and dependence on local hardware.
 Compatibility Issues:
 Tally Prime can have compatibility issues with certain operating systems,
like macros, requiring users to implement workarounds such as simulation
software.
 Limited Multi-Branch Support:
It's not ideal for multi-branch businesses that require real-time data
synchronization across different locations, which can lead to challenges in
managing operations.
Cost & Support
 Additional Tool Investment:
The lack of integrated features means businesses often need to purchase
and manage additional software for tasks like digital marketing, increasing
overall costs.
 Potential for Complexity:
Despite its benefits, implementing Tally Prime Server can be complex,
requiring careful consideration of business needs, budget, and IT
capabilities.
 Support Challenges:
Some users report challenges with Tally's customer support, particularly
during peak periods, and limited support channels.

how to open tally prime?

To open Tally Prime, first ensure it is installed by downloading the installer
from the Tally Solutions website and running the setup. After installation
and license activation, click the Tally Prime icon on your desktop or find it in
the Start Menu to launch the application. Once Tally Prime opens, you can
select a company from the list or create a new one to start recording
business transactions.
 Click Install to complete the installation.

Steps to Open Tally Prime

1. Install Tally Prime:
If you haven't already, download the setup file from the Tally Solutions
website and install the application.

2. Activate Your License:

After installation, you must activate your license to use Tally Prime
beyond the educational mode.

 Launch the Application:

 Look for the Tally Prime icon on your desktop and double-click it.
 Alternatively, go to your computer's Start Menu, find Tally Prime, and click
on it to open.

 Create or Select a Company:

o Once Tally Prime opens, it will display a welcome screen.

o If you need to start using Tally Prime, you will first need to create a
company by providing details like the company name and contact
information.
o If you already have a company set up, you can select it from the list to
open it and begin recording transactions.

How to create company in tally prime?

To create a company in Tally Prime, first launch the software and then
either press Alt + F3 to open the company menu or select Create Company
if you're on the Gateway of Tally. You'll then enter basic company details
like the name, address, financial year start, and country. After providing this
information, you can optionally set up features like GST, security, and user
access.
Step-by-Step Guide:
1. Launch Tally Prime: Open the application from your desktop or Start
menu.
2. Access the Company Menu:
o If another company is already open, press Alt + F3 to go to the Company
Info menu or "Company menu".
o If no company is open, you'll go directly to the Gateway of Tally.
3. Select Create Company: From the Gateway of Tally, select the Create
Company option.

4. Enter Company Details: In the Company Creation screen, fill in the

following mandatory details:
o Name: The name by which customers recognize your business.
o Mailing Name: The name that will appear on your invoices and reports.
o Address: The company's physical address.
o Country: Select the country for your company.
o State: Choose the state your company is located in.
o PIN Code: Enter the postal code.
5. Set Financial Details:
o Financial Year Begins from: This field is pre-filled but can be updated.
o Books Beginning from: This can be the same as the Financial Year start
or a later date.
6. Configure Features (Optional):
o Enable GST: If your company deals with Goods and Services Tax, you can
enable this feature.
o Security Control: Set up a password to protect your company data.
7. Save the Company: Press Enter to accept the details and complete the
company creation process.
Create a company in Tally prime

Step 1:
Step 2:
 how to delete company in tally prime?
To delete a company in Tally Prime, navigate to the Gateway of Tally,
press Alt+K (Company) > Alter, select the company you want to delete from
the list, and then press Alt+D to initiate deletion. You will be prompted to
confirm the permanent deletion; select 'Yes' to proceed.

Here's a step-by-step guide:

1. Go to the Gateway of Tally: This is the main screen after you open Tally
Prime.
2. Open the Company Menu: Press Alt+K or F3 on your keyboard.
3. Select "Alter": From the options, select "Alter" to go to the Company
Alteration screen.
4. Choose the Company: Select the company you wish to delete from the list
of companies shown.
5. Press Alt+D: With the desired company selected, press Alt+D to delete it.
6. Confirm Deletion: A confirmation message will appear. Select 'Yes' to
permanently delete the company.
Important Considerations
 Data is Permanent:
Deleting a company is an irreversible action, and the data will be
permanently removed.
 Back Up Your Data:
Before deleting, it is highly recommended to back up your company's data
to prevent any loss of important information.

How to alter company in tally prime?

To alter company details in Tally Prime, from the Gateway of Tally, press
Alt+K (Company) or Alt+F3 (Company Info), then select Alter from the
menu. Choose the desired company from the list, make the necessary
changes in the Company Alteration screen, and press Ctrl+A to accept and
save the changes.
 Step-by-step instructions:
1. Open Tally Prime: and access the Gateway of Tally.
2. Press Alt+K: on the keyboard to open the Company menu, or use Alt+F3
to open the Company Info menu.
3. Select the "Alter": option from the menu that appears.

4. Choose the specific company: you wish to modify from the provided list.

5. Make the necessary changes: to the company's details, such as name,

address, financial year, or other information.
6. Press Ctrl+A: (or the Enter key) to save and accept the alterations.
 How to shut a company in Tally Prime?

To shut a company in Tally Prime, press Ctrl+F3 at the Gateway of Tally or

go to the Company Menu (Alt+K) and select the "Shut Company"
option. After selecting the option, you will see a list of currently open
companies, and you just need to select the specific company you want to
close and press Enter.
Using a Keyboard Shortcut (Recommended)
1. Launch Tally Prime and go to the Gateway of Tally.

2. Press Ctrl+F3 on your keyboard.

3. A list of your open companies will appear. Select the company you want to
shut and press Enter to close it.
how to create ledger in tally prime?

To create a ledger in Tally Prime, go to the Gateway of Tally > Create >
Ledger, then enter the ledger's name and select its appropriate group from
the list. For single ledgers, you'll fill in the details on the Ledger Creation
screen, and to create multiple ledgers at once, use the Multi Ledger
Creation option after navigating to the Ledger screen and pressing Alt+H.
Creating a Single Ledger
1. Navigate to Create Ledger:
From the Gateway of Tally, select Create from the menu, then select
Ledger.

2. Enter Ledger Name:

In the Name field, type the name of the new ledger (e.g., "Rent Expenses"
or "Customer A").

3. Select the Group:

In the Under field, choose the appropriate group for the ledger from the
"List of Groups" (e.g., "Indirect Expenses" for Rent Expenses, or "Sundry
Debtors" for a customer).

4. Enter Other Details:

Fill in any additional required details, such as the opening balance,
GSTIN, or default credit period for parties.

5. Save the Ledger:

Press Ctrl+A to accept and save the new ledger.
Creating Multiple Ledgers
 Navigate to Multi Ledger Creation: From the Gateway of Tally,
select Create > Ledger.
 Access Multi-Create Option: In the Ledger screen, select Multi
Create from the button bar (shortcut Alt+H).
 Select a Group: Choose a primary group (e.g., "Sundry Creditors")
under which you want to create all the new ledgers.
 Enter Ledger Names: In the "Name of the Ledgers" field, type the
names of all the ledgers you want to create.
  Save the Ledgers: Press Ctrl+A to save the screen and create all
the ledgers listed.

Step 1:
Create a ledger
1. Go to Gateway of Tally > Create > type or select Ledger and press Enter.
2. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and
press Enter.


 Select Ledger
Step 2:

Enter the Details: Write the Name of the ledger accounts.

1.
2. Opening Balance: Entering the opening balance is needed when
the ledger account is an asset or a liability. Also, if a ledger has an opening balance as of the
beginning of books, the amount comes under this section.

Accept the Screen, as always you can use shortcut and Press> Alt+A to save.

You have successfully understood to Create Ledgers in Tally Prime

 To view a ledger in Tally Prime:
To view a ledger in Tally Prime, use the Go To feature by pressing Alt+G,
then type or select Ledger and press Enter. Alternatively, you can navigate
from the Gateway of Tally > Chart of Accounts > Ledger. This action
displays a list of all ledgers, from which you can select a specific ledger to
view its detailed transactions in the Ledger Vouchers report.

Steps to View a Ledger

1. Open the Go To feature: Press Alt+G (Go To) from any screen.

2. Search for Ledgers: In the search bar, type "Ledger" and select it from the
list.

3. Select a Specific Ledger: Press Enter to open the list of all ledgers.

4. View Ledger Vouchers: Select the desired ledger from the list to open the
Ledger Vouchers report, which shows all the transactions for that ledger.
Alternative Navigation Path
1. Access the Gateway of Tally: Go to the main screen of your Tally Prime
company.
2. Go to Chart of Accounts: Press Enter on Chart of Accounts.
3. Select Ledgers: Press Enter on Ledger.
4. Choose a Ledger: Select the required ledger from the displayed list to
view its details.
 How to create a voucher ledger?

To create a voucher ledger in Tally Prime, first go to Gateway of Tally >

Create > Voucher Type, then enter the name of the voucher, select the
type (e.g., Payment, Receipt, Sales), and configure other options like
numbering and narration. For creating a ledger account, use the Alt+C
shortcut directly on the voucher creation screen to open the Ledger
Creation screen and input the ledger's details.

Creating a New Voucher Type

This process defines the type of transaction you will record.
1. From the Gateway of Tally, go to Create > Voucher Type.
2. Enter the Name for the new voucher type (e.g., "Bank Payment").
3. Select: the type of voucher you are creating (e.g., Payment, Sales,
Receipt).
4. Enter an Abbreviation for the voucher type if you want one.
5. Choose the Method of voucher numbering from the provided list.
6. Set options like "Use effective dates for vouchers" or "Make this voucher
type 'Optional' by default" as needed.
7. Press Ctrl+A to save the voucher type.
Creating a Ledger Account During Voucher Entry
You don't need to go back to the Gateway of Tally to create a ledger if you
need it while entering a transaction.
1. Open the voucher creation screen (e.g., go to Gateway of Tally > Vouchers
and press the appropriate function key like F5 for Payment).
2. In the field where you need the ledger, press Alt+C.
3. This will open the Ledger Creation screen.
4. Enter the Name for the new ledger, select the appropriate Group from the
list (e.g., Bank Accounts, Sundry Debtors).
5. Fill in any other required details for the ledger.
6. Press Ctrl+A to accept and save the ledger. The new ledger will now be
available in the voucher entry field.
.
 Gateway of Tally, go to Create > select the Voucher
Now let’s learn about accounting vouchers in detail.

1. PAYMENT: Press F5 key to open this voucher. Transactions related to company

payments should be recorded in this voucher. The payment made by the company may be
through cash, cheque, online payment or any other mode. If the company makes a payment
it should be entered in this voucher.

2. RECIEPT:

If the F6 key pressed, this voucher will open. If the company gets the money, that
transactions should be recorded in this voucher. The amount that came to the company
could be in the form of cash. Be it in cheque form or online. If the company gets the money,
it should be registered in this voucher.

3. CONTRA:

Press the F4 key to open this voucher. This contra voucher should be recorded when the
company deposits or withdraws money from its bank account. Also, if the amount is
transferred from bank to bank or transferred cash to cash, then the entry should be made in
this voucher.

4. PURCHASE:

The key to opening the purchase voucher is F9. If the company makes the purchases, the
transactions related to them should be recorded in this. The purchase made by the company
may be for borrowed or cash. Also, the purchase made by the company may be in the form
of goods or service form. If the company purchases, it should be recorded in this voucher.
5. SALES:

Sales Voucher is open if F8 key is pressed. Transactions related to sales are recorded in this
voucher. If the company is selling for cash or on credit, it should be recorded in this sales
voucher. The sales made the company may be in the form of goods or service. In all,
transactions related to company sales should be recorded in this voucher.

6. DEBIT NOTE:

This voucher is opened, if the ALT + F5 key is pressed. If the company returns the purchase
commodity for any reason, it should be recorded in this voucher. We can also record
interest calculations in this voucher.

7. CREDIT NOTE:

ALT + F6 is the key for credit note voucher. If the company has returns of the goods sold for
any reason, it should be recorded in this voucher. Transactions related to sales returns come
into this voucher. Moreover, interest calculations also be recorded in this.

8. JOURNAL:

F7 is the key to open Journal voucher. Entries related to adjustment methods are recorded
in this. Also, this voucher is used for tax calculations and tax adjustment entries.
 Receipt
1. Open the Receipt Voucher:
o From the Gateway of Tally, press V (Vouchers) then F6 (Receipt).
o Alternatively, use Alt+G (Go To) > Create Voucher > F6 (Receipt).

2. Select the Received Account:

o Tally Prime will first ask for the Account where the money was received. This will be
your Cash or Bank account.
o Select the appropriate Cash or Bank ledger and press Enter.
3. Select the Income/Party Account:
o In the next field, select the Account from which the money was received. This could
be a customer ledger or an income ledger (like Commission Received).
4. Enter the Amount:
o Enter the amount of money received.
o
5. Enter Instrument Details (if applicable):
o For bank transactions, you may be prompted to enter the method of receipt (e.g.,
Cheque, Online Transfer), Instrument No., Bank, and Branch.
6. Add Narration (Optional):
o Enter a brief description of the transaction in the Narration field.
7. Accept and Save:
o Press Ctrl+A or Enter to save the receipt voucher and record the entry.
Understanding the Double Entry Mode:
 Contra
To record a contra entry in Tally Prime, go to the Accounting Vouchers screen and
press F4 (Contra) to open the contra voucher screen. A contra entry is used for
cash-to-cash or cash-to-bank transactions, so you will debit the destination account
and credit the source account. For example, to deposit cash into a bank account,
you would debit the bank account and credit the cash account.

Steps to Record a Contra Entry

1. 1. Open the Contra Voucher:
 From the Gateway of Tally, select Vouchers.
 Press F4 to open the Contra Voucher screen.
2. 2. Enter the Transaction Details:
 Debit the Destination Account: Select the ledger you are depositing money into
(e.g., a bank account).
 Credit the Source Account: Select the ledger from which the cash is coming
(e.g., cash account or another bank account).
 Enter the Amount: Input the amount for the transaction.
3. 3. Provide Further Details:
 Bank/Cash Details: If the transaction involves a bank, specify the cheque
details. If it's a cash transfer, provide denomination details in the Bank Allocations
screen
 .

 Narration: Add any relevant narration in the narration field.

4. 4. Accept the Voucher:
 Press Ctrl+A to accept and save the contra voucher.
Common Scenarios for Contra Entries
 Cash to Bank: Depositing cash into a bank account.
 Bank to Cash: Withdrawing cash from a bank account.
 Bank to Bank: Transferring funds from one bank account to another.
 Payment
To record a payment entry in Tally Prime, go to Gateway of Tally > Vouchers > press
F5 (Payment) or use the shortcut Alt+G > Create Voucher > F5. Select the ledger for
the expense or debt being paid on the debit side and the cash or bank ledger on the
credit side, then enter the amount. Fill in any required details like the narration, and
finally, accept the voucher to save the entry.

Step-by-Step Guide
1. Open Vouchers:
From the Gateway of Tally, navigate to Accounting Vouchers or simply press F5 to
open the Payment voucher screen .

Enter Details:
 Amount: Enter the payment amount in the appropriate column.
 Narration: In the Narration field, provide a description of the transaction for future
reference.
 Sales
1. Open Sales Voucher:
 From the Gateway of Tally, go to Vouchers.
 Press F8 (Sales).

 Alternatively, press Alt+G (Go To) > Create Voucher > F8 (Sales).

2. 2. Enter Date and Party Details:

 Enter the correct Date of the transaction (use F2 to change).
 Select the Party's A/c Name (customer's name) from the list.

3. 3. Record Item/Service Details:

 In the sales invoice, select the Sales Ledger.
 Select the Stock Item you are selling.
 Enter the Quantity and Rate for the item.
 You may also need to select additional ledgers for expenses like transportation or
discounts.

4. 4. Add Tax Details (if applicable):

 Select the relevant tax ledgers, such as CGST or SGST, to calculate GST
automatically.

5. 5. Save the Entry:

 Enter a Narration if needed.
 Press Ctrl+A to accept and save the sales voucher.
 Purchase
To record a purchase entry in Tally Prime, go to the Gateway of Tally, select
Vouchers (or press V), then press F9 (Purchase) to open the Purchase
voucher. Enter the supplier's invoice number and date, select the relevant Party A/c
Name, then select your Purchase Ledger and the stock items, inputting quantity and
rate. Enter tax ledgers and other applicable charges, and then press Ctrl+A to save
the voucher.

Here's a step-by-step guide:

1. Open Vouchers: From the Gateway of Tally, press V or click on
Vouchers.

2. Select Purchase Voucher: Press F9 to open the Purchase voucher screen.

3. Choose Voucher Mode: If you want to record item-wise details of purchases, you
can press Ctrl+H (Change Mode) and select Item Invoice mode. For services, you
can choose Accounting Invoice mode

.
4. Enter Supplier Details:
o Supplier Invoice No. & Date: Enter the invoice number and date from the supplier's
bill.
o Party A/c Name: Select the supplier's ledger. If it's a cash purchase, select "Cash"
or "Bank". You can press Alt+C to create a new ledger if needed.
5. Enter Purchase Details:
o Purchase Ledger: Select your Purchase Ledger account.
o Stock Items: Select the stock item(s) you've purchased and enter the Quantity and
Rate.
o Tax Ledgers: Select the appropriate input tax ledgers (e.g., CGST Input Tax, SGST
Input Tax, IGST).
o Other Ledgers: Select any other ledgers for charges like packaging or
transportation.
6. Save the Entry: Press Ctrl+A to accept and save the entire purchase voucher
entry.
 Balance sheet
To view the Balance Sheet in TallyPrime, from the Gateway of Tally, press B or
navigate to Alt+G (Go To) and select Balance Sheet. You can see the liabilities on
the left and assets on the right. Press Alt+F5 for a detailed view, Ctrl+H to change
the view to vertical, and F12 to configure the report further.
Steps to View the Balance Sheet

1. From the Gateway of Tally: Press B on your keyboard.

2. Using the Go To feature:
o Press Alt+G to open the Go To screen.

o Type "Balance Sheet" or select it from the list.

o Press Enter to view the report.
 Customizing the View

 Detailed View: Press Alt+F5 to get a comprehensive breakdown of assets and

liabilities.
 Vertical View: To see the report in a vertical format (liabilities at the top, assets at
the bottom), press Ctrl+H (Change View) and select the Vertical option.
 Configure Options: Press F12 to access configuration settings, which allow for
various adjustments to the balance sheet's appearance and content.
Navigating Within the Report
 Go Deeper: Press Enter on any item to view its detailed breakdown (e.g., customer-
wise details for Sundry Debtors).
 Return to Previous Screen: Press the Escape key to go back to the previous report
or screen.
 Profit and loss
To view the Profit and Loss (P&L) account in Tally Prime, press atl+g (Go To) and
select or type "Profit & Loss A/c", then press Enter. Alternatively, from the Gateway
of Tally, go to the Profit & Loss A/c report. You can change the reporting period
using F2 (Period) and get a detailed view by pressing Alt+F5. To customize the
report format, press F12 (Configure).

Step-by-step Guide to Viewing the Profit & Loss Account

1. Navigate to the report:
 Press Alt+G (Go To) on your keyboard.
 Type "Profit & Loss A/c" or select it from the list.
 Press Enter to open the report.
 Alternatively, start from the Gateway of Tally and go to the Profit & Loss A/c report.

2. Adjust the period:

 To view the P&L for a different period, press F2 (Period).
 Select the required date or period and press Enter.

3. View in detail:
 For a detailed view, including all expenses and incomes, press Alt+F5
.
4. Configure the report:
 To change the report's format, press F12 (Configure)
 Options include:

 Show Vertical Profit & Loss: Set to "Yes" for a vertical format, which separates
Trading Accounts and Income Statements.
 Show Percentages: Set to "Yes" to view each line item as a percentage of sales.
What the P&L Account Shows
 The P&L account reveals the money spent (costs/expenses) and revenue generated
by an organization over a specific period, indicating its net profit or net loss.

Trial balance
Alternative Navigation (if not using Alt+G):
1. From the Gateway of Tally, click on Display More Reports.

2. Go to Trial Balance and press Enter.

Customizing the Trial Balance:
 Ledger-wise View: Press F5 to switch from the group-wise view to a
ledger-wise view. Press F5 again to return to the group-wise format.

 Detailed Format: Press Alt+F1 to view a more detailed report, which

expands all groups.
 Configure Options: Press F12 (Configure) to open the configuration
screen and adjust settings, such as showing opening balances or
transactions for a specific period.