Tally Yellow Belt Question

This is tally Practice question  for preparing  Yellow Belt also Project and case study of Tally , this cover

Company Creation, Stock items, Bill of Material, Manufacturing Journal convert Raw Materials to Finished Goods, Creating Price List for Retailers and Distributer with Slabs Discount, Deducting TDS ,Pay TDS to Income Tax Dept, Using Cost Center to Analyze Salesmen wise Productivity, How to sell goods outside Country ,Multicurrency  Set Conversion Rate of other Currency, Payment , Receipt ,Sale Voucher, Activation of Cheque Book in Bank

  1. The company creation
Company NameMr. White Champion Industries
AddressNo 319/2, Waghere Colony, Pimpri Gaon, Pune
Pin code411017
The financial year begins from01-04-2019
 Books beginning from01-04-2019
  1. Statutory Configuration

GST configuration

Registration typeRegular
Applicable from01-04-2019
Periodicity of GSTR 1Monthly
e-way bill ApplicableYes
HSN DescriptionErasers

TDS Configuration


Set ignore IT exemption limit for TDS deduction = Yes

  1. Item Master Creation
Stock itemStock GroupUnit of measureGSTHSN  
RubberRaw materialsKg of 1000 gms (with 3 decimals)5%4001
PigmentsRaw materialsKg of 1000 gms (with 3 decimals)18%3212
SulphurRaw materialsKg of 1000 gms (with 3 decimals)5%2503
Mr. white eraser-1.5 lnchFinished goodNOS5%4016
Mr. white eraser-2.5 lnchFinished goodNOS5%4016
  1. Bills of Materials Creation
Finished goods/raw materialsMr. white eraser-1.5 lnch (to manufacture 1 No)Mr. white eraser-2.5 lnch (to manufacture 1 No)
  1. Price List Creation

The company offers a different price list for a different type of customers and addition to that gives a discount on bulk


  1. Salesman – wise Turnover and Commission , Department- wise expenses tracking

The company has sales managers for different regions, each sale is tracked to salesman and every month 1 % commission is paid on turnover achieved by each of them further, they want to allocate expenses to department to analyze spending pattern. The sales managers working for the company are – Sagar Gore, Ramesh Pendse , Alex Mathew.

  1. TDS Nature of Payment Creation
Nature of paymentAdditional details
Fees for professional or Technical ServicesRate = 10%, exemption limit= Nil
  1. Budgets on “indirect expenses”

The company allocated budget amount of Rs.25,00,000 on ‘Indirect Expenses’ as Expenses Budget. It is set on ‘Closing Balances’ and for the whole financial year i.e, from 1st apr 2019 to 31st march 2020

  1. Account Master Creation
LedgersGroup UnderAdditional Details
Plant and machinery A/CFixed assetIs GST applicable = yes, GST rate=18 % integrated tax, nature of transaction=interstate purchase taxable ,nature of goods = capital goods,
Input CGSTCurrent assetsType of duty = GST/ Central tax Note: in ledger creation screen press F12 (configure) and set  t ledgers to behave as duties & taxes = yes ,then you can enable GST for ledger crated under current assets group
Input SGSTCurrent assetsType of duty= GST/State tax
Input IGSTCurrent assetsType of duty= GST /integrated tax
HDFC Bank A/cbankAccount number= 151000987768222,IFC Code= HDFC0000039 Branch = Pune – Boat Club Activate cheque book – 000001 to 000100
St. George Rubber TradersSundry CreditorsMaintain balance bill by bill=Yes State = Kerala, PIN code- 686578     GSTIN = 32AABCT3518Q1Z5
Polymer Colour CompanySundry CreditorsMaintain balance bill by bill = Yes State = Maharastra,PIN code- 411014, GSTN = 27AAACB5343E1Z1
C S industriesSundry CreditorsMaintain balance bill by bill=Yes State= Odisha, PIN code- 751007 GSTIN=24ALOPR2210G1ZB
MAKS distributorsSundry DebtorsPrice list= Distributors Maintain balance bill by bill=Yes Credit Period = 30 days Interest Calculation= Yes Set- 20% per Calendar Year State=Maharashtra, pin code 411002 GSTIN= 27AAACB5343E1Z1
Orbit SolutionsSundry DebtorsPrice list= Retailers  Maintain balance bill by bill=Yes Credit Period = 30 days Interest Calculation= Yes Set- 20% per Calendar Year State=Maharashtra, PIN Code 411001 GSTIN= 27AAATI1446A1Z7
Office Mate Ghana LimitedSundry DebtorsMaintain balance bill by bill=yes country= Ghana Price List =Not Applicable The currency of the ledger- Rs.
Secured Loan A/cSecured LoansInterest calculation =yes Set -14% per Calendar year  
Joshi & KulkarniSundry CreditorsDeductee Type= Partnership Firm PAN= AABCJ8888G

Record the following transactions for Mr. White Champion Industries:

  1. On 1-Apr-2019 ,MR. Vimal Khelkar introduced capital Rs.30,00,000 and deposited into HDFC bank A/c
  • On 3-Apr-2019 , the company purchased Plant & Machinery from C.S.  Industries for manufacturing Erasers for Rs. 16,00,000 + 18% IGST, Bill No. CS -005
  • On 5-Apr-2019, RS. 10,00,000 paid through HDFC BANK  to  C.S. Industries via chq no 000001 against Bill No CS- 005
  • On 8-Apr-2019 , took a secured loan of 10,000,00 and deposited in HDFC Bank A/C @ 14% per the calendar year , interest payable every month.
  • On 10-Apr-2019, the company purchased the following raw materials from Polymer Color Company via invoice no. 658/2019-20, all price are excluding GST.
Stock ItemQuantityRate
Pigments5000 kgsRS. 75/ KG
Sulphur5000 kgsRs. 20/kg
  • On 10-Apr-2019, the company purchased the following raw materials from St. George Rubber Traders via Invoice no. 86 All prices are excluding GST.
Stock itemQuantityRate
Rubber20000 KgsRs. 101.60/kg
  • On 20-Apr-2019 Mr. White Champion Industries manufactured finished good as per the table below
Stock itemQuantityBatch No
Mr. white eraser- 1.5 lnch4,00,000 NosBatch 01
Mr. white eraser-2.5 lnch2,00,000 NosBatch 01
  • On 25-Apr-2019, received an order No. 112 from MARKS Distributors all price list rates are exclusive of GST , add GST wherever applicable.

Note : enable F11 feature ‘Use separate discount column in invoice= Yes’ under inventory feature to calculate discount on stock item in invoice.

Stock itemQuantityBatch NoRate
Mr. White Eraser- 1.5 lnch1,25,000 NOSBatch 01As per price list
Mr. White Eraser-2.5 lnch75,000 NOSBatch 01As per price list
  • On 27-Apr-2019 , delivered all the materials against Order No. 112 to MARKS Distributors.

Raised Sales Invoice on the same day , the company wants to have Invoice Number format aqs 1/2019-20. Allocate the value to sales manager Sager Gore.

Add e – way bill details only in Sales Invoice

E-way bill no181003355475
Distance19 kms
Vehicale NoMG02 B-8622
  1. On 28-Apr-2019 , received an order no. 106 from Orbit Solutions . Price List rates are exclusive of GST , add  GST ledgers wherever applicable. Allocate this order to Sales Manager Ramesh Pendse
Stock itemQuantityBatch NoRate
Mr. white eraser- 1.5 lnch85,000 NOSBatch 01As per price list
Mr. white eraser-2.5 lnch25,000 NOSBatch 01As per price list
  1. On 29-Apr-2019 , delivered below materials against Order No 106 to Orbit Solutions. Allocate this delivery note to Sales Manager Ramesh  Pendse
Stock itemQuantityBatch NoRate
Mr. white eraser- 1.5 lnch60,000 NOSBatch 01As per price list
Mr. white eraser-2.5 lnch25,000 NOSBatch 01As per price list
E-way bill no18100887887
Vehicle NoMH-12 HK-1276
  1. On 30-Apr-2019 paid Orbit Soultions Rs 100000 via Chq No 000002
  1. On  30-Apr-2019 ,booked 15,000 professional service fees to chartered accountants Joshi & Kulkarni , deducted TDS @ 10% as per the income tax act.
  1. On 01-may-2019 ,received 5,00,000 via chq no 121222 drawn on AXIS bank from MARKS Distributors against invoice no 1/2019-20 and deposited the same in HDFC bank
  1. On 02-May-2019, received 5,00,000 via Chq No 121222 frawn on AXIS Bank from MAKS Distributer against Invoice No 1/2019-20 and deposited the same in HDFC Bank
  2. On 05-may-2019, received an order no 475 from office mate Ghana Limited, Ghana  allocate this order to sales manager Alex Mathew.
Stock itemQuantityRate
Mr. white eraser- 1.5 lnch1,50,000 NOS$ 0.07
Mr. white eraser-2.5 lnch65,000 NOS$ 0.12

                                   Today’s conversion rate 1 $ = Rs 69

  1. On 05-may-2-19, paid TDS 1,500 via HDFC bank chq no 000004 to Income Tax Department
  2. On 10-may-1019 , delivered below materials against order no. 475 to Office Mate Ghana limited, Ghana

Raised export invoice as export invoice as ‘Export Exempt ‘ Goods for GST . this sale to sales Alex Mathew.

Stock itemQuantityBatch noRate
Mr. white eraser- 1.5 lnch1,50,000 NOSBatch 01As Per Order Raised
Mr. white eraser-2.5 lnch65,000 NOSBatch 01As Per Order Raised

                                   Today’s conversion rate 1 $ = Rs 69

Export Invoice Details
Shippng Bill No & Date785542 / 10-May-2019
Pin code (pune)INGRD6
Distance150 kms
Bill of lading no18542587965
Pin no400001
  1. On 20-May-2019 received  $ 18,300 from Office Mate Ghana Limited, Ghana via swift transfer to HDFC against invoice no 2/2019-20

Today’s conversion rate 1 $ = Rs 70

  • On 31-May-2019 office staff  salaries  of 99250 from HDFC bank  A/c to employees via chq no 000005