The quantity of stock item is measured in units. You have to create units for stock items because stock items are purchased or sold on the basic quantity
Tally provides two type of units, which are follows:
Simple: Refers to units, such as pieces, numbers, kilograms, and grams Compound: Refer number of quantities that makes a units, such as 1000 grams makes a 1 kilogram In this section, you learn how to create a simple and compound units, display a units, and alter a unit.
To activate Job Costing which options require to be activated
Job costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. Tally.ERP 9 enables the tracking of cost and revenue information like material, labour, and overhead for a specific job down to the smallest detail. With a view to ascertaining the actual costs incurred for each job, each job is assigned a job number or a job name.
Enable job costing
1. Go to Gateway of Tally > F11: Company Features ( F1: Accounting features ).
2. Set the option 'Maintain cost centres?' to Yes .
3. 'Use cost centre for job costing?' to Yes
4. Press Crl+A to save.
There are two pre-defined ledgers available in Tally.ERP 9, they are:
Cash - This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account - This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
Memorandum voucher is a special voucher which are used to record transactions temporarily in tally. It is a Non-Accounting voucher whose entries do not affect accounts. The entries in this voucher are not posted into ledgers, instead are stored in a separate Memo Register. To view all the memorandum vouchers, go to Gateway of Tally > Display > Exception Reports > Memorandum Vouchers
Gateway of Tally > Balance Sheet > press F12: Configuration and set 'Show Working Capital figures' to 'Yes' > press Alt+F1
Working capital is the difference between current assets and current liabilities.