Tally Company F11 Features
How Many Feature do you know?
Hello Readers,
                       It is general question from all of Tally user about detail information of company features. Even though we are using Tally.ERP9 since long but I can bet that none of us know every feature of Tally in detail. Even Many of us using Tally like a common software in our organization and belive that no one using even 50% feature properly.

Today we will discuss each F11 Feature available in Tally. Here we will only understand the use and importance of feature on theoretical basis. (In case practical information needed please drop your message in comment section I will explain that feature in details)

Tally Company feature is broadly divided into 3 feature as below

    1-      Accounting Feature
    2-      Inventory Feature
    3-      Statutory and Taxation Feature





     A-    Accounting Feature :- Accounting feature is basically contain feature related to accounting principal and option. Accounting feature have so many sub feature as below
       



1)                  Maintain Accounts Only :- This feature is basically for those who do not deals in stock or goods and want to maintain books of accounts only for accounting and not for inventory. In case if you enable this option Tally will not show and Inventory feature and you will not be able to create any inventory master like stock item, stock group etc. Basically this feature is applicable in case of service industries.
2)                  Integrate Account and Inventory :- This is one of important feature to know. This feature is related to integrate value of stock with your financial record. In simple word if have enable this option then value of closing stock will be appeared in P&L and balance as per Stock summary report. In case if you have disable the option the closing stock value from stock summary will not be included in P&L and Balance sheet. Generally this feature is being used by traders or dealers who are using any other method or software for stock valuation and closing value arrived as per their record they just feed to stock in hand ledger in Tally. (If you want to see live then message on comment box)
3)                  Use Income and Expenses A/c instead of Profit and Loss A/c :-   This feature of Tally is being used by Non Profit organization who need to report Income and expense account instead of profit and loss. If you enable this feature then Profit and Loss report will be replaced by Income and Expense Account and you will be able to see surplus and deficit amount instead of Net profit and Net Loss
4)                  Enable Multi Currency:-  This feature of Tally allow business unit to raise or book any invoice of sales or purchase other then base currency. Example Indian company can raise Invoice to any foreign company in US Dollar or other currency  needed. This feature help you to get the value of foreign exhcnage gain or loss amount. This feature generally famous among importer and exporter.   (You can visit my page to know more and step by step transaction www.gstintally.in or your can buy E-Book where I have explained in detail step by step entry to use this feature with 100% accuracy MRP Rs51)       
5)                  Maintain Bill wise Details :- This feature is most important one because it plays an important role to record each sales and purchase with Invoice wise. This will help you to get proper bill wise and age wise account receivable and payable report from Tally. Generally this feature is applicable for Sundry Debtors and Sundry Creditors.
6)                  Bill wise Details For Non Trading Account also :- As point (v)  state the option of bill wise in debtors in creditor ledger but in case if Tally user wants to use the same option for non trading ledger such Loans and Advance given or borrowed and other ledger then this feature will help you get bill wise detail for such ledgers too. It is important use this feature wisely in case if you have enable bill wise option of for any expenses or income ledger then your receivable and payable report will be disturbed.  
7)                  Activate Interest Calculation :- This feature is rarely used by us. This feature help you to calculate Interest amount on specific rate of interest on overdue amount of payable and receivebla as per your master configuration.
8)                  Use Advanced Parameter for Interest Calculation:- This feature is also related to Interest calculation parameter and in case organization follow interest with different rate on each transaction then this advance feature can be use.
COST PROFIT CENTRE MANAGEMENT
9)                  Maintain Payroll:- We are very much aware of meaning of payroll which refers to recording processing salary of employees. Tally have given payroll feature where you can track record  of payroll for every employee related to their earning deduction and Income Tax Investment as well. (This feature can be explained in detail if needed with examples)
10)              Maintain Cost Centre :- Cost centre or profit centre feature is important feature that can be used to get financial P&L report as per project or cost centre wise. This feature is commonly used for any project or any branch or any department as per need of business.
11)              Maintain more then One Payroll or Cost Category :- This feature help you to create multiple cost categories in organization as per layers and demand.
12)              Use Predefined Cost Centre Allocation in Transaction :- Generally this feature help you to tag particular entry under specific cost category. Normally while passing any entry cost centre need to be selected after ledger selection but with this feature you can tag entire entry under specific category or cost centre at one time. (Detail info can be share if needed)
13)              Show Opening Balance for revenue items in report:- Generally cost centre behave like P&L ledger while reporting hence  if you enable this feature then you can view closing and opening balances of cost centres as well.

INVOICING

14)              Enable Invoicing (Record Purchase Invoice):- Invoice (Sales or Purchase) can be recorded either in Account Invoice mode (Inventory Mode) or Voucher mode but in case if you have enable this feature then you can the option of Account Invoice mode for recording any invoice or else you need to record your sales or purchase in voucher more i.e debit and credit mode.

15)              Use Debit and Credit Notes :- To record any sales or purchase return debit note and credit note voucher type need to be use but in default Tally configuration Debit and Credit Note button will not be highlighted for recording any transaction. It will be available only after enabling this option.

16)              Record Credit/Debit Notes in Invoice Mode:- You can record credit or debit note in invoice mode if you have enable these option or else you can record the same in voucher mode i.e. Debit and Credit Mote (To and By mode)
Budget and Scenario Management
17)              Maintain Budget and Control :- Tally have budget control feature as well which help you to estimate your cost or revenue with budheted and actual figure. Many of us are not aware of this feature but this strong tool may help management to make appropriate decision.

18)              Use Reversing Journal and Optional Voucher :- Reversing journal is an important tool to make any scenario. Scenario is kind of creation of situation with multiple alternatives which is hardly know by anyone. Optional voucher is help you to book any voucher or invoice without affecting books of accounts. It is kind of approval base or demo entry.

Banking Feature
19)              Enable Cheque Printing :- Generally we have tendency to prepare cheque manually but this feature helps you to print the cheque details on command instead of writing manually. List of banks and their cheque format are pre defined in Tally and you can easily configure your cheque for print.
20)              Set\Alter Transaction Type :- Transaction Type mean nature of banking transaction that may be NEFT/RTGS, cheque, Online E-Transfer etc



21)              Set/Alter Banking Feature :- This feature help you to update Bank Account details of your party master on click. You can directly import Excel file to update bank details in Tally. (Check out my video on you tube)
22)              Set\Alter Post Dated Transaction :- This feature help you to tag any payment or receipt banking transaction as post dated which help you to get the information of cheque issue or received for near future date.
Other Feature

23)              Enable Zero Valued Transactions :- This option will help you to record any transaction with Zero Value. Example Sample Goods Supply. Issue of Blank Cheques etc.
24)              Maintain Multiple Mailing Details (Company and Party Masters) :- It is one of important feature of Tally which serve one of important purpose of multiple address. There may be case where Company have different branches in same state or different states. This feature will help you to put multiple address of company. Similarly your buyer and supplier may have different address with different GSTIN then you don’t have to create a new ledger. You can easily use this feature to maintain multiple address of same ledger.
25)              Enable Company Logo :- Your company logo can be configured to print on invoice. Logo will be printed on few vouchers only which are termed as outward document e.g. Sales Invoice, Payment Voucher.








B) Inventory Feature :-   This include all feature related to stock management.  




26)              Integrate Accounts with Inventory :- Refer Point (ii) in Accounting Feature.
27)              Enable Zero Value Transactions :- Refer Point (xxiii) in Accounting Feature.

Storage and Classification

28)              Maintain Multiple Godown or Locations :- This feature help you to store your stock in different type of godown or locations. Location and Godowns are not same. Godown may be location but location may not be godown. Location is place where there may be multiple godown or store house. Godown type may be Our stock godown, our stock with third party or third party stock with us. (To get complete details share your query in comment box)

29)              Maintain Stock Category :- Stock category refers to segregation of  stock according to business nature such as electronic goods, Household goods etc.


30)              Maintaining Multiple Batches and Set Expiry Dates :- This is important feature for such stock items which are perishable in nature. It means having expiry dates. Example Medicines are manufacture with batch or lot number with expiry date. This feature help you to move out your stock basis on expiry of product.

31)              Use Separate Actual and Billed Quantity Columns :-  Actual and Billed Quantity is the concept generally used for sales promotion. In such case supply of goods quantity is different then billed quantity. Example buy one get on free in this case goods has been given 2 Pcs where bill is charged for one only.

Order Processing

32)              Enable Purchase Order Cycle:- Purchase order cycle is completely a different feature which enable the option of following complete purchase order cycle. Example giving purchase order to supplier>> Receipt of Goods against Purchase Order >> Rejection of Goods >> Recording Purchase Invoice >> Purchase Return.

33)              Enable Sales Order Cycle :- It is similar to Purchase order cycle as Receiving Sales Order >> Dispatching Goods against Sales Order >> Rejection In >> Sales Invoice >> Sales Return.


34)              Enable Job Order Processing :- Job order processing refers to outsourcing the job either Job work in or Job work out. In case if you have some semi finished goods which you outsourced to assemble into finished goods against job charges. Complete Job Work In and Job Work Out Order can be maintained with this feature of Tally.
(Order Processing Management in Tally can be explained detailed if needed)

Invoicing

35)              Enable Invoicing :- Refer Point _____ in Accounting Feature.

36)              Use Debit/Credit Note (Invoice Mode):- Refer Point _____ in Accounting Feature.


37)              Use Separate Discount Columns :- In case if you wish to provide discount against rate of each item then this feature help you to get separate column on Invoice for discount.

38)              Track Additional Cost of Purchase :- When company want to load the sundry charges value on stock cost then this feature can be used. Example loading charges can be added to cost of purchase.
39)              Use Multiple Price Levels :- This feature help you to set multiple price level for same item for different type of buyer. Example a product may be sold higher price to non regular buyer as compared to regular buyer. Classification of price level can be done according to nature of buyer.

Other Feature

40)              Use Tracking Numbers:- This feature helps to track down delivery or receipt of goods against sales and purchase order.

41)              Use Rejection  In and Out :- Goods can be rejected and sent out or received in against delivery or receipt of goods. Goods delivered to buyer be sent back buyer due to damage then such cases goods can be treated as Rejection in.


42)              Material In and Material Out :- This feature support the feature of Job Order Cycle to send or receive goods against Job work in or Job Work out order.
43)              Use Cost Tracking :- This feature help you to get estimation of cost and can be tracked down sales purchase to get profitability for stock.


C) Statutory and Taxation :- This help you to enable applicable taxes in organization.




44)              Enable GST :- In case if you are registered under GST you need to enable the option and along with that you need to configure all GST detail such as GSTIN, state, registration type etc.

45)              Enable VAT :- VAT has been replaced by GST but still in some cases it is applicable such as Petrol, stamp duty etc.


46)              Use Excise :- This was related to manufacturing and dealing of stock. It has been now replaced by GST.

47)              Enable Service Tax:- Service Tax has been replaces by GST.


48)              Enable TDS :- TDS is still applicable and Tax deduction on payment and expenses can be deducted under several nature of payment. This can be manged and filed 24Q and 26Q via this option of Tally.

49)              Enable TCS:- This is similar to TDS feature where TCS collected on sales invoice.


Apart from Accounting, Inventory & Taxation Feature there are several more feature as Audit Feature, Add on Feature and other configuration feature. Those are others feature hence not covered under this article. In case if it is needed then can be explained in another article.

I hope guys you have understand the each feature of Tally. One Important thing to update that F11 Feature under Updated Version of Tally18 OR Tally Prime is going to change look at below image of updated Tally (Going to be launch soon)




Have a look at New Look of Gateway of Tally under Tally Prime (New Version Tally18)



So guys don't foregwet to share your feedback on gstintally786@gmail.com or whatsapp 9699333653


Regards,
Parvez Ansari
GST AND TALLY WALA