Job Costing

Job costing is used in case any project work is going on for the company. Material are sent to different sites where work is going on. These sites can be created through job costing.

First press F11 and then F1, set "Use Cost Centre for Job Costing" as 'yes'.
Go to cost Catagory(Accounts info -> Cost Catagory -> Create) and create a catagory named project or sites. Then go to Cost centre(Accounts info -> Cost Centre -> Create) and create the name of the projects or sites where the work is being done. While creating thes cost centre set 'use job costing' as 'yes'.
Then create godown from where the material are supplied to these site/projects.
Then we have to alter voucher type Stock journal and create a class named job costing there and set "Use class for job costing" as "yes".

Then inorder to transfer the stock item from godown to site/project area, go to accounting vouchers press ALT + F7 select stock journal and class as job costing. Then pass the entry.

Receiving Interest

Go to display -> Statement of Accounts -> Interest Calculation -> Interest Payable/Interest receivable. Press F2 and give the date there.
Then receive interest through Accounting Voucher.

Interest Calculation

Create a ledger named 'Investment'.
Then press F11 and then press F1, set "Activate interest calculation" and "use advanced parameter" as 'yes'.
Then Alter the ledger Investment created and set the 'interest calculation option' as 'yes'. There you give the all the information required i.e. the rate of interest, time period, rounding(rounding off the decimal value), etc.

Printing of Vouchers and other documents

An organization may need to Print vouchers, balance, Profit and Loss Account and other documents. In order to print just press ALT + P on the page you want to print.

Negative stock warning

In reality, physical balance of stock cannot go negative, but while passing entry in Tally, if your stock balance is going negative then surely you are making some accounting mistake. You can prevent this by configuring Tally to meet your requirement. Press F12 at inventory voucher screen and activate the option "Warn on negative stock balance?". Now everytime while passing inventory voucher if you enter any quantity which will make your stock negative, Tally will give a warning message displaying the figure by which your stock balance is going negative.

Actual and Billed Quantity entry in Voucher

In many cases, the actual quantity and the billing quantity differs due to supply of free samples, allowances for defective items, etc. Tally enables you to mention both the quantity in invoice voucher just by activating a feature. Press F11 and set 'yes' to the option "Use different Actual and billed quantity?" at the Inventory Vouchers screen. Enter the actual quantity and billed separately in their respective columns. But the value will be calculated based on the basis of billed quantity.