Steps in Manual Accountancy

Steps in Tally Accounting

1.    Journal Entries

2.    Ledger Posting

3.    Trail balance

4.    Adjustment Entries

5.    Final Accounts (P&L A/c, Balance sheet)

1.    Creating Ledgers based on Groups

2.    Voucher Entries into Ledgers

3.    Adjustment Entries (if necessary)

4.    All Financial reports including Trial balance are prepared automatically based on Groups