USE OF FEATURES COMMAND IN TALLY.ERP9:- In tally, you will find ‘Features’ icon, almost on every screen. This command gives you so many options in respect of presentation of your data or to see so many details in various methods as required by account departments. You just press ‘Features’ key anywhere in tally, which shall show the following options:-

  • Accounting settings
  • Inventory settings
  • Statutory settings

Account Settings:- In Account settings, you can change the following details:-

  1. General – Income & Expenses instead of Profit and Loss Account, Allow Multi Currency.
  2. Outstanding Management – Maintain Bill-wise Details (For non- Trading Accounts also), Activate Interest Calculation.
  3. Cost Profit Centers Managements – Maintain Payroll, Maintain Cost Centers etc,
  4. Invoicing – Allow Invoicing; Enter Purchases in Invoice Format, Use Debit/Credit Notes, Use Invoice Mode for Credit Notes, Use Invoice Mode for Debit Notes.
  5. Budget and Scenario Management – Maintain Budgets and Controls, Use Reversing Journal & Optional Vouchers
  6. Other Features – Enable Cheque Printing, Set/Alter Cheque Printing Configuration, Allow Zero Valued Entries, Maintain Multiple Mailing Details for Company & Ledgers, Set/Alter Company Mailing Details, Enable Company Logo.

See the following screen showing all above details:-

Inventory Settings:- In inventory settings, you can set inventory features as follows:-General – Allow Zero Value Entries

  1. Storage & Classification – Maintain Multiple Godowns, Maintain Stock Categories, Maintain Batch-wise Details, Set Expiry Dates for Batches, Use Different Actual & Billed Quantity.
  2.  Order Processing
  3. Invoicing – Allow Invoicing, Enter Purchased in Invoice Format, Use Debit/Credit Notes, Use Invoice Mode for Debit Notes.
  4.  Purchase Management – Track Additional Costs of Purchase
  5. Sales Management
  6. Other Features – Use Tracking Numbers (Delivery/Receipt Notes), Use Rejection Inward/Outward Notes.

Following screen can be seen in tally if you select features key and select inventory:-

Statutory Settings:- In statutory settings, you can change the following setting:-

  1. Enable Value Added Tax (VAT)
  2. Set/Alter VAT Details
  3. Enable Service Tax
  4. Set/Alter Service Tax Details
  5. Enable Tax Deducted at Source (TDS)
  6. Set/Alter TDS Details
  7. Enable Tax Collected at Source (TCS)
  8. Set/Alter TCS Details
  9. Enable Fringe Benefit Tax (FBT)
  10. Set/Alter FBT Details
  11. Local Sales Tax Number, Central Sales Tax Number, PAN/Income Tax Number.

following screen shall appear in respect of statutory settings:-

RELATED TERMS:

  • Learn Accounting, Free Accounting Tips
  • General Accounting Terms
  • General Tips Relating to Indian Income Tax Act
  • Free Tally Learning
  • General Tips Relating to Sales Tax-VAT
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