NBU: COMPUTERISED ACCOUNTING AND SYSTEMS SOLVED PAPER 2024

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 GROUP-A
Answer Any Two Questions


1. What are various 'Accounting Reports' that can be generated in a widely used popular accounting software? Explain each one of them briefly.
Answer: In India Tally ERP9 is widely used Accounting software and therefore we consider the reports generated on Tally as the base for our answer. The discussion on various reports generated on Tally ERP9 are given below-
 
 1. Balance Sheet
    Description: Provides a snapshot of the companys financial position at a specific point in time, listing assets, liabilities, and equity.
    Steps to Access:
      Navigate to: Gateway of Tally > Balance Sheet
 
 2. Profit & Loss Account (P&L)
    Description: Summarizes revenues, costs, and expenses incurred during a specific period to show profitability.
    Steps to Access:
      Navigate to: Gateway of Tally > Profit & Loss Account
 
 3. Cash Flow/Fund Flow Statement
    Description: Shows cash inflows and outflows from operating, investing, and financing activities, highlighting liquidity.
    Steps to Access:
      Navigate to: Gateway of Tally > Display > Cash/Funds Flow
 
 4. Trial Balance
    Description: Lists all ledger balances and ensures total debits equal total credits, helping identify errors in records.
    Steps to Access:
      Navigate to: Gateway of Tally > Display > Trial Balance
 
 5. Ledger Report
    Description: Provides a detailed view of transactions recorded under each account, including debit and credit entries.
    Steps to Access:
      Navigate to: Gateway of Tally > Display > Accounts Books > Ledger
      Select: Choose the specific ledger account you want to view.
 
 6. Day Book
    Description: Displays all transactions in chronological order, including both financial and nonfinancial transactions.
    Steps to Access:
      Navigate to: Gateway of Tally > Display > Day Book
 
 
 7. Stock Summary
    Description: Provides details about inventory levels, including stock quantity, value, and movement.
    Steps to Access:
      Navigate to: Gateway of Tally > Stock Summary
 
 8. Sales Register
    Description: Details all sales transactions, including sales invoices and payments.
    Steps to Access:
      Navigate to: Gateway of Tally > Display > Accounts Books > Sales Register
 
 9. Purchase Register
     Description: Displays all purchase transactions, including purchase invoices and payments made.
     Steps to Access:
       Navigate to: Gateway of Tally > Display > Accounts Book > Purchase Register
 
10. Cash/Bank Books
Description: Displays all Cash/ Bank transactions, including Payments and Receipts  made.
                 Navigate to: Gateway of Tally > Display > Accounts Book > Cash/Bank Books
 
 
Additional Tips:
 Use Filters: Apply filters to narrow down report data (e.g., date ranges, specific accounts).
 Customize Reports: Tally allows customization of reports based on user needs.
 Keyboard Shortcuts: Familiarize yourself with shortcuts (e.g., F2 for Date Range) for quicker navigation.

 


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