This course is for those interested in starting a career in Financial Business Accounting. The course builds on the knowledge and skills gained in this professional certificate to dive deeper into concepts related to Business and MIS Reports. You will apply those concepts in scenarios using the TallyPrime software.The course includes several real-life business scenarios, charts, images, observations, solved illustrations, and practice scenarios on TallyPrime.
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By the end of the course, you will be able to:
- Gain proficiency in Bills Payable and Receivable
- Understand and account the Advanced Banking Transactions
- Learn to manage Cost and Profit Centres
- Record the Accounting Vouchers using Foreign Currency
- Manage the Interest Calculation, and the production of Essential Financial Statements
- Understand the fundamentals of Goods and Services Tax (GST)
What you'll learn
- Gain proficiency in Bills Payable and Receivable
- Understand and account the Advanced Banking Transactions
- Learn to manage Cost and Profit Centres
- Record the Accounting Vouchers using Foreign Currency
Syllabus
Storage and classification of inventory
Accounts Receivable and Payable Management
Multi-Currency
At the end of the module Multi-Currency, You will be able to: • Create Multiple Currencies • Access and Alter the Multiple Currencies • Set up and define exchange rates for various foreign currencies. • Record accounting transactions in foreign currency using the realization and unrealization basis. • Comprehend the methodology for calculating forex gain or loss . • Record adjustments for forex gain or loss • Differentiate between realized and unrealized transactions in multi-currency accounting. • Generate Multi-Currency Reports
Interest Calculation
At the end of the module Interest Calculation, you will be able to: • Comprehend the formula and methodology for calculating simple and compound interest. • Apply the simple and compound interest formula to calculate interest on principal amounts. • Record simple and compound interest transactions accurately in the company's books of accounts. • Identify outstanding balances and their relevance to interest calculations. • Generate Interest Calculation Reports • Apply interest calculation reports for financial analysis and strategic planning.
Advanced Banking Transactions
At the end of the module Advanced Banking Transactions, You will be able to: • Demonstrate the fundamentals of cheque management • Identifying the nuances of handling post-dated cheques in Tally • Explore the integration of Tally with electronic payment systems • Set up and configure e-payment options in Tally • Master the bank reconciliation process using Tally • Resolve discrepancies and ensuring accurate financial reporting
Generating Financial Statements and MIS Report
At the end of the module Generating Financial Statement and MIS Report, you will be able to: • Generate and interpret Final Accounts Reports in Tally such as, - Trial Balance - Profit and Loss Account - Balance Sheet - Cash Flow and Funds Flow - Receipts and Payments • Generate and Interpret MIS (Management Information System) Reports. - Stock Summary - Daybook - Cash and Bank Books - Purchase Register - Sales Register - Journal-Register
Goods and Services Tax (GST)
At the end of the module Goods and Services Tax (GST), you will be able to: • Define Goods and Services Tax (GST) and its significance in the Indian taxation system. • Identify the key principles and objectives behind the implementation of GST. • Examine the structure and components of the GST framework. • Differentiate between Central GST (CGST), State GST (SGST), and Integrated GST (IGST). • Classify goods and services based on their GST rates. • Recognize the components of a GST-compliant invoice. • Generate invoices adhering to GST guidelines. • Record various GST transactions using Tally. • Generating GST Returns for Regular Dealer in Tally
