Tally FAQ: Common TallyPrime & ERP 9 Questions

Tally FAQs help accountants, business owners, students, professionals and other users understand common accounting and business operations in TallyPrime and Tally ERP 9. This guide covers frequently asked questions about company creation, accounting, vouchers, GST, inventory, reports, data management and keyboard shortcuts.

Whether you are a beginner learning Tally or an experienced accounting professional, these frequently asked questions can help you understand common Tally functions and everyday accounting tasks.

What is Tally?

Tally is accounting and business management software used by businesses and accounting professionals for recording financial transactions, managing accounts, inventory, taxation and generating financial reports. TallyPrime is the newer generation of Tally's business management software, while Tally ERP 9 is an earlier version widely used by many businesses and accounting professionals.

What is TallyPrime?

TallyPrime is business management and accounting software designed to help businesses manage accounting, inventory, taxation, payroll and other business activities. It provides tools for recording transactions, generating reports and managing business information.

What is Tally ERP 9?

Tally ERP 9 is an earlier version of Tally business and accounting software. It has been widely used for accounting, inventory management, GST and other business-related activities. Some businesses continue to maintain historical data or workflows associated with Tally ERP 9.

What can Tally be used for?

Tally can be used for several accounting and business management activities, including:

• Recording accounting transactions
• Creating sales and purchase invoices
• Managing receipts and payments
• Maintaining ledgers and groups
• Managing inventory
• Recording GST-related transactions
• Generating financial reports
• Managing receivables and payables
• Banking and reconciliation activities
• Generating accounting and business reports

How do I create a company in TallyPrime?

A company can be created from the company management options in TallyPrime. You generally need to provide information such as the company name, address, financial year and accounting details. The exact options and steps may vary depending on the version of Tally being used.

What are ledgers in Tally?

A ledger is an account used to record transactions relating to a particular account head. Examples include cash, bank, sales, purchases, rent, salary and individual customer or supplier accounts.

What is a voucher in Tally?

A voucher is used to record a financial or accounting transaction in Tally. Common voucher types include payment, receipt, contra, journal, sales and purchase vouchers.

What are the common voucher types in Tally?

Common Tally voucher types include:

• Payment Voucher
• Receipt Voucher
• Contra Voucher
• Journal Voucher
• Sales Voucher
• Purchase Voucher
• Debit Note
• Credit Note

Can Tally be used for GST accounting?

Yes. Tally software can be used to record and manage GST-related transactions and generate relevant accounting and tax reports, subject to the capabilities of the installed version and applicable configuration. Users should ensure that their GST settings and tax information are correctly configured.

How can I record a GST sales invoice in Tally?

A GST sales invoice can generally be recorded using the appropriate sales voucher and GST-related configuration in Tally. The required GST details may include the appropriate tax rates, party information, place of supply and other applicable information.

The exact process may vary depending on the Tally version, company configuration and nature of the transaction.

Can Tally manage inventory?

Yes. Tally can be used for inventory management, including maintaining stock items, stock groups, units of measurement, godowns and inventory transactions. The available features depend on the version and configuration being used.

What are Tally shortcut keys?

Tally shortcut keys are keyboard commands that can help users navigate screens and perform certain accounting, voucher-entry, reporting and other tasks more efficiently.

What are the commonly used Tally shortcut keys?

Some commonly used function keys in Tally include:

• F1 – Help and context-sensitive functions in applicable screens
• F2 – Change date or other screen-specific functions
• F3 – Company-related functions in applicable screens
• F4 – Contra voucher in applicable voucher screens
• F5 – Payment voucher in applicable voucher screens
• F6 – Receipt voucher in applicable voucher screens
• F7 – Journal voucher in applicable voucher screens
• F8 – Sales voucher in applicable voucher screens
• F9 – Purchase voucher in applicable voucher screens
• F10 – Reversing Journal or other screen-specific functions
• F11 – Company Features
• F12 – Configuration

Tally Shortcut Keys

Shortcut availability and functionality can vary between TallyPrime, Tally ERP 9 and the particular screen being used. Users should verify shortcuts in their installed version.

What is the difference between TallyPrime and Tally ERP 9?

TallyPrime is a newer generation of Tally's business management software, while Tally ERP 9 is an earlier version. The interface, features, navigation and available functions can differ between the two versions. Users should refer to the documentation applicable to their installed version.

Can Tally generate financial reports?

Yes. Tally can generate various accounting and financial reports, depending on the version and configuration. These may include profit and loss accounts, balance sheets, trial balances, ledgers, outstanding reports and other business reports.

Can Tally be used for bank reconciliation?

Yes. Tally provides banking and reconciliation-related functionality in supported versions. Bank transactions can be reviewed and reconciled against accounting records according to the available features and configuration.

How can I maintain Tally data safely?

Businesses should regularly back up their accounting data and maintain secure copies of important company information. Backup procedures should be appropriate to the organisation's data, software version and storage environment.

Can Tally data be restored from a backup?

Tally data can generally be restored from a valid backup using the appropriate restore functionality. Before restoring data, users should ensure that they have a reliable backup of the existing data and follow the instructions applicable to their installed version.

Who uses Tally?

Tally is commonly used by small and medium-sized businesses, accountants, bookkeepers, finance teams, entrepreneurs and other professionals for accounting and business management activities.

Is Tally useful for small businesses?

Tally can be useful for small businesses that need accounting, invoicing, inventory, taxation and financial reporting capabilities. The appropriate software and configuration depend on the size and requirements of the business.

Need Help With Tally or Accounting?

If you need assistance with accounting, GST, Tally-related work or other business compliance requirements, you can contact Taxfra e-Filing Centre to discuss your requirements.

Contact Mobile: +91 9777902087

Contact Person: Jeban Mohanty

Contact Email: info@taxfra.com

Conclusion

This Tally FAQ guide covers common questions about TallyPrime and Tally ERP 9, including accounting, vouchers, GST, inventory, reports, company management, data backup and shortcut keys. Tally users should always check the features and procedures applicable to their particular software version and accounting requirements.

Disclaimer

Tally features, menus, shortcut keys and procedures may vary depending on the software version, configuration and screen being used. This page is provided for general informational purposes and should not be treated as official Tally documentation. Users should verify version-specific information before performing accounting or business transactions.

Last Updated: 05 October 2026