Tally ERP 9 Real Time Interview Questions and Answers for freshers and experienced

Real Time Tally ERP 9 Quiz Questions and Answers

=> Also Read Tally Interview Questions
1. Tally package is developed by
a. Peutronics
b. Tally solutions
c. Coral software
d. vedika software
Ans: B

2. Company Restore option is available in
a. Company Feature
b. Company Information
c. Configuration
d. None of these
Ans: B

3. in general thje financial year from shall be from
a. 1st April of any year
b. 31st March of any year
c. All of them are true
d. None of these
Ans : A

Tally Online Quiz Questions and Answers pdf

5. we can Modify an existing company from
a. Company info > Alter
b. Company info> Alter Company
c. Geteway of tally > Modify company
d. None of these
Ans: A

6. To change current date from gateway of tally press the key
a. F1
b. F5
c. F2
d. F9
Ans: C

7. Part account can be created through
a. Group creation window
b. Ledger creation window
c. Inventory creation window
d. Any on of them
Ans: B

8. A Ledger may get declaration space for its Alias through
a. F12
b. F11
c. Alt+F1
d. ALt+F2
Ans: A

9. F12 key is Known as
a. Company feature
b. Company Configuration
c. Accounting Feature
d. None of these
Ans: B

10. What is the utility of Tally Vault Password?
a. it will lock the period of company
b. it will lock all voucher entries for that company
c. It will no show the company name in the Company Select List.
d. None of these
Ans: C

11. We can show bill wise details of debtors and creditor by activating
a. Bill by bill
b. Maintain bill wise details
c. Maintain reference
d. None of these
Ans: B

12. The shortcut key to quit from tally is
a. Ctrl +L
b. Ctrl +P
c. Ctrl +M
d. Ctrl +Q
Ans: D

13. A Ledger can't be deleted if it is caring Opening Balance
A. True
b. False
Ans: A

14. How many inbuilt account group are in tally by default?
a. 29
b. 31
c. 25
d. 34
Ans: A

15. The shortcut used to activate calculator is
a. Ctrl +N
b. Ctrl +M
c. Ctrl +A
d. Ctrl + C
Ans: A

16. Suspense Account Group is defined under
A. Income
b. Expenditure
c. Liabilities
d. Assets
Ans: A

17. To activate MRP feature from Geteway of Tally initially we need to press
a. F11
b. F12
c. F10
d. None of these
Ans: A

18. Manufacturing Journal creates based on
a. Journal
b. Receipt Note
c. Stock Journal
d. Purchase Quotation
Ans: A

19. To activate job Costing which option require to be activated
a. Maintain Cost Center
b. Use Cost Center for Job Costing
c. Both a & b
d. None of these
Ans: B

20. Multiple Godowns are activated from
a. F11
b. F11> F1
c. F11 > F2
d. F11 > F3
Ans: C

21. There are ............ Predefined Ledger
a. One
b. Three
c. Two
d. Four
Ans: C

22. To print a voucher from tally we need to press
a. Ctrl +p
b. Shift +P
c. Alt +P
d. None of these
Ans: C

23. We can see working capital figure changing
a. Voucher Configuration
b. Profit & Loss configuration
c. Balance sheet Configuration
d. Ledger Configuration
Ans: A

24. Input vat / Output vat Ledger Created under which account ?
a. Duties & Taxes
b. Sales
c. Purchase
d. Vat
Ans: A

25. Allow Components List details (BOM) option is activated for
a. Ledger
b. Cost Category
c. Stock items
d. Budgets
Ans: B

26. We can repeat narration by pressing
a. Shift + R
b. Alt +R
c.Crl +
d. Alt+Shift+R
Ans: B

27. Discount Column is available in
a. Sales Invoice
b. Purchase Invoice
c. Both A & B
d. None of these
Ans: C

28. We cand cancel a voucher Using:
a. Alt+X
b. Ctrl +X
c. Shift + X
d. Ctrl +Shift+X
ans: A

29. We can't Select Cash in Journal Voucher
a. True
b. False
Ans: A

30. To Create Scenario which option require to be activated?
a. use Rev. Journal & Optional Voucher in F12
b. use Optional Voucer in F11
c. Use Reversing Voucher in F11
d. Use Reversing Journal & Optional voucher in F11
Ans : D

31. List of Optional Voucer we can get from
a. Cash Bank Book
b. Exceptional Report
c. Account Book
d. Balance Sheet
Ans: C

32. Singal Entry Mode is Applicable for
a. Receipt Voucher
b. Contra Voucehr
c. Payment Voucher
d. All of these
Ans: D

33. To Hind the name of the company you need to define
a. Security Control
b. Tally Audit
c. Create at Least one User
d. Tally Valut Password
and: D

34. To dedare a voucher as Post Dated Press
a. Ctrl +T
b. Alrt +T
c. Ctrl +P
d. None of these
Ans: A

35. We can switch from Accounting Voucher to inventory Voucher Pressing
a. F2
b. Alt +F1
c. Ctrl +F1
d. F11
ans: D

36. Goods Returning to a creditor after cahalln but before bill we need to pass
a. Debit Note
b. Receipt Note
c. Rejection Out
d. Rejection in
Ans: C

37. To Use Dr/Cr instead of To/By during voucher entry or vice versa, Press
a. F10
b. F12
c. F11
d. None of these
Ans: C

38. To Alter a master while making an entry or viewing a report
a. Alt+Enter
b. Shift + Enter
c. Ctrl + Enter
d. Tab + Enter
Ans: C

39. To show the cheque number while reconciling bank accounts press
a. F11
b. F12
c. Ctrl + F11
d. Ctrl + F12
ans: B

40. Total number of Ledger, Groups, Entries etc can be shown from
a. Tally Audit
b. Statistics
c. Accounts Infromation
d. Company Information
Ans: B

41. What is TAN?
A. Tax Absorb Number
B. Tax Assign Number
C. Tax Account Number
D. Tax Assessment Number
Ans: D

42. How many formats are available while Exporting?
A. 2
B. 3
C. 4
D. 5
Ans: B

43. Tally package is developed by
A. Microsoft
B. Apple Software
C. Adobe Software
D. Tally Solutions
Ans: D

44. What is the full of TCS?
A. Tax Collected from Sales
B. Tax Collected by Staff
C. Tax Consumption at Source
D. Tax Collected at Source
Ans: D

45. We can create multiple users in Tally activating
A. Maintain VAT
B. Tally Audit
C. Use Security Control
D. Both a and b
Ans: C

46. ETCS means
A. Electric Tax Collected at Source
B. Electronic Tax Collection at Source
C. Electronic Tax Collected at Source
D. Enable Tax Collected at Source
Ans: C

47. Total number of Ledgers, Groups, Entries etc. can be shown from
A. Company Information
B. Tally Audit
C. Statistics
D. Accouts Information
Ans: C

48. Transfer from Main Cash to Petty Cash you require to pass ........... voucher.
A. Voucher
B. Contra
C. Payment
D. Receipt
Ans: B

49. To show the cheque number while reconcilling Bank Accounts press
A. Ctrl + F11
B. Ctrl + F12
C. F11
D. F12
Ans: D

50. Recording of actual stock as physically verified or counted is done thorugh
A. Journal
B. Sales
C. Stock Journal
D. Physical Stock
Ans: D

Latest Tally Objective type Questions for freshers

Real Time Tally Interview Questions and Answers PDF

=> Also Read Tally MCQs
1. Where sales tax is shown in balance sheet.
Sales Tax is liability for the business therefore it will be shown in the liability side of the balance sheet but before putting sales tax in liability we have to see where sales tax is shown in the trial balance sheet.

2 . What is accounting ?
As there are many definition in book and i recommend you to learn any one
“Accounting is an art of recording classifying and summarizing in a significant manner and in terms of money event and transaction which are at least of financial character and interpreting the result thereof ”

3. What are personal accounts ?
Answer : Those account which are related to individual ,person or firm are term as personal account.
Example : ram ,Sh yam,reliance,bank,capital ,drawing.

Tally ERP 9 Accounting Interview Questions

4. What are assets in business ?
Answer : Anything which we posses and have control right and in coming future that will give us some economic benefit is known as Assets.
Example : land and building ,plant and machinery,furniture and fixture ,cash ,prepaid expenses,debtor, accrued income .

5. What are ledger ?
Answer :Collection of accounts are known as ledger it is prepared after creating journal entry .A ledger is an accounting book that facilitates the transfer of all journal entries in a chronological sequence to individual accounts.

6. What is trial balance :
Answer :Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements.

7. What are Liabilities ?
Answer :It refers to the amount which the firm owes to outsiders (expecting the amount owes to proprietor)
Example : creditors,bank overdraft .loan from bank,outstanding expenses ,income earned in advance

8. What are current assets ?
Answer : Current assets includes cash and other assets which are expected to be converted into cash within a short period of (with in year )
example of current assets are cash,debtors,bank,stock

9. what are current liabilities
Answer :Current Liabilities refers to those liabilities which are to be paid in near future with in a year.
Example : Creditors ,Bill payable

10.What is the abbreviation for the accounting terms debit and credit?
Answer :?Debit abbreviation is “dr” and credit abbreviation is “cr”.

11. Define fictitious assets?
These are the assets that cannot be shown or touch. Fictitious assets can only be felt such as good will, rights etc.

12. What do you think is bank reconciliation statement?
A reconciliation statement is prepared when the passbook balance differs from the cashbook balance.

13. Define depreciation and its types?
By depreciation we mean that a value of an asset is decreasing as it is in use. It has two types such as “Straight Line Method” and “Written Down Value Method”.

14. Differentiate between consignor and consignee?
Cosigner is the owner of the goods or you can say he is the person who delivers the goods to the consignee. The consignee is the person who receives the goods.

15. Define Scrap value in accounting ?
It is the residual value of an asset. The residual value is the value that any asset holds after its estimated life time.

16. Differentiate between provision and reserve?
Provisions are the liabilities or the anticipated items such as depreciation. You can say provisions are expenses. Reserves are the profits of any company and a part of that profit is placed back to the business to keep it sustainable in tough times of a company.

17. Where a cash discount should be recorded in journal entry ?
A cash discount should be recorded in journal entry as a reduction of expense in cash account.

18. what are working capital ?
Working capital is a financial metric that calculates the resources available to the company to finance its day-to-day operations. It is typically calculated by deducting current liabilities from current assets.

19. How many types of business transactions are there in accounting?
There are two types of transactions in accounting i.e. revenue and capital.

20. What is book keeping ?
Book keeping: It is mainly concerned with recording of financial data relating to the business operations in a significant and orderly manner.

21.What are different branches of Accounting ?
Cost accounting
Financial Accounting
Management Accounting

22. What are accrued income ?
Accrued Income: Accrued income means income which has been earned by the business during the accounting year but which has not yet been due and, therefore, has not been received.

23. What are deferred expenditure ?
In case deferred revenue expenditure no asset is in fact acquired by incurring the expenditure: only the benefits of the expenditure which has not been exhausted is estimated and carried forward.

24.Explain what is compound journal entry?
A compound journal entry is just like other accounting entry where there is more than one debit, more than one credit, or more than one of both debits and credits. It is essentially a combination of several simple journal entries.

25.what are debit note ?
Debit note: When the goods are returned to the supplier, a debit note is sent to him indicating that his a/c has been debited with the amount mentioned in the debit note.

26. Contingent liability: An obligation to an existing condition or situation which may arise in future depending on the occurrence of one or more uncertain future events.

27 what is contingent assets :Contingent Asset: An asset the existence ownership or value of which may be known or determined only on the occurrence or non occurrence of one more uncertain future event

28. What are credit note ?
The customer when returns the goods get credit for the value of the goods returned. A credit note is sent to him intimating that his a/c has been credited with the value of the goods returned.

29. what are suspense account ?
Suspense account: The suspense account is an account to which the difference in the trial balance has been put temporarily.

30.what is amortisation ?
Amortisation: The process of writing of intangible assets is term as amortisation.

31. What are miscellaneous assets ?
Miscellaneous Assets which are not covered under the classification of Fixed assets as per accounting standard misc assets which are not shown in the profit and loss account for example preliminary expense ,development expenditure and expenditure on raising of share and debentures.

32. are drawing Assets or liabilities in business ?
Drawing are neither assets nor liabilities .

33. What is balance Sheet ?
Answer : A statement of the assets, liabilities, and capital of a business or other organisation at a particular point in time, detailing the balance of income and expenditure over the preceding period.

34.Why balance sheet is prepared ?
Answer: A balance sheet provides a snapshot of a business’ health at a point in time. It is a summary of what the business owns (assets) and owes (liabilities). Balance sheets are usually prepared at the close of an accounting period such as month-end, quarter-end, or year-end.

35.What is delivery note ?
A document that accompanies a goods shipment and lists details about the goods delivered. A delivery note explains what the contents of a package are. If some goods that were ordered are not enclosed (due to lack of stock, unavailability, etc.) they will also be listed on the delivery note.

36 where is delivery note key in Tally ERP ?
Answer : Go to gateway of tally > f11 > F2 >Using tracking number ( Delivery / Receipt Note ) set to Yes
Now in inventory voucher >Alt + F8

37. Why to use tally erp Software in accounting ?
Tally ERP 9 is a complete product that retains its original simplicity yet offers comprehensive business functionalities such as Accounting, Finance, Inventory, Sales, Purchase, Point of Sales, Manufacturing, Costing, Job Costing, Payroll and Branch Management along with capabilities like Statutory Processes.Moreover you can find work force available for this software and its 90% of accounting software market in SME in India.

38.What are accounting voucher keys for Debit and credit note in tally ?
Ctrl + F8 for debit note and Ctrl + f9 for credit Note .

39 . Mention what are the two pre-defined ledger available in Tally ERP 9?
Answer: In Tally ERP 9, there are two types of pre-defined ledgers
Cash: Under the group Cash-in-hand this ledger is created, you can enter the opening balance as on the books beginning from.
Profit and Loss Account: This ledger is created under the group Primary. In this ledger, previous year’s profit or loss is entered as the opening balance of this ledger.

40. Mention what is the shortcuts for Voucher Creation and Alteration Screen in Tally ERP 9?
Tally ERP 9, to create any master (ledger, stock item) on the voucher or alteration screen, you have to enter Alt+C.
To alter or configure any master item on a voucher, you have to select specific ledger or stock item on the sales voucher screen and press Ctrl+Enter.

41. Mention what is the shortcut to repeat the narration on a voucher?
Ctrl+R

42. what are short cut key to see ledger balances in Tally erp 9?
Got>display > accounts

42. What are short cut key to quit tally ?
Ctrl + Q

43. What are component of GST
component of GST are IGST SGST and CGST

44. how make budget in Tally accounting ?
Go to Gateway of Tally > F11: Features (Accounting Features)
Set ‘Maintain Budgets and Controls’ to ‘Yes.
Set ‘Yes’ under ‘Group’ in ‘Set/ Alter Budgets of’ > Press ‘Enter’

45. What are batch wise details in tally ?
it is use to identify the movement of goods in batches or lots.
Go gateway of tally > F11> F2 >maintain batch wise detail set to YES

46. The short cut key to select company in tally ?
Alt +f3

47. In which directory data store by default in tally ?
data

48. What are the keys for backup in tally ?
Alt + F3 > backup select the company and the USB drive where backup is to be taken

49. What is goodwill in accounting ?
Goodwill is an intangile asset that reflects a business’s customer connections, reputation and other similar factors.

50. Mention what is the difference between Tally ERP 9 and Tally 7.2?
Tally 7.2:
1. It is an integrated solution that provides a function related to accounting, reporting and inventory
2. This version includes VAT (Value Added Tax) functionality, Licensing and Tax deduction at source
3. It is widely used because of simplifying VAT, Service Tax and TDS formalities
4. It provides two licensing, Single User Licensing and Multi User Licensing

Tally ERP 9:
1. It is an upgraded version of Tally 7.2, and provides many features like TDS, Payroll management, Excise for dealers, etc.
2. This version includes handling of POS invoicing, Statutory and Taxation, Payroll, Multi-lingual support, etc.
3. It is more popular because of providing advanced inventory management and simplifying accounting
4. It is available in two edition Tally Silver (Single User Edition) and Tally Gold (Multi-User Edition)

51. Mention what are the requirements to connect Tally ERP 9 remotely?
There are 2 requirements to connect Tally ERP 9
i) At the Customer end
ii) At the remote location

i) At the Customer end:
a. Valid internet connection
b. A licensed version of Tally ERP 9 with a Tally.NET subscription
c. Create and authorize remote users for a company that has to be operated remotely
d. For remote access load & connect the company to Tally.NET for remote access

ii) At the remote location:
a. Valid internet connection
b. A licensed version of Tally ERP 9
c. A valid password and User ID to access the software

52. What is the short cut to cancel a day book or list of vouchers in Tally ERP 9?
In Tally ERP 9, short cut to cancel a day book or list of vouchers is ALT+X