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The different features of a company can be selected or modified by F11: Features button. This button is available in almost all screens of Tally as you might wish to modify it as your requirements change. Unlike F12: Configure, F11: Company Features is specific to the current company only. Therefore, each company may have different features active. For example, a company in your group may need multi-currency whereas another company may not. Configuration options, on the other hand, affect all companies maintained in the same Tally directory and setting configuration for one company will affect other companies in that data directory.
Note: Certain features like multi-currency and multi-locations, once set to Yes, cannot be modified if the feature has been used. However, other features like Cost Centres and Bill-wise details can be modified even if they are used. If you reset the option after having used the feature in transactions, it is advisable to rewrite the company by using CTRL + ALT + R.
Go to Gateway of Tally > F11: Features
The F11: Features menu displays as shown
The menu consists of the following options.
There are various settings available under Accounting Features, Inventory Features and Statutory & Taxation Features in Company Operations Alteration screen, which determine the information to be keyed in during transaction entries. A discussion on each of the options follows.
Accounting Features
This feature enables you to set the various Accounting Features required for the transaction entries.
Go to Gateway of Tally > F11: Features > F1: Accounts
General
Integrate Accounts and Inventory
This option has a significant effect on the Balance Sheet and Profit & Loss Account. If set to Yes, it brings the stock/inventory balance figures from the inventory records and provides a drill down to the Stock registers from the Balance Sheet.
If set to No, it ignores the inventory books figures and picks up manually entered closing stock balances from the ledger account created. This provides the facility to maintain accounts separately and inventory separately.
Stock records often contain compensating errors caused by wrong allocation to items and the like. This feature enables finalisation of financial books without waiting for reconciliation of stocks that may take time.
Income/Expense Stmt Instead of P & L
Enable this option if you need an Income & Expenditure Statement for Non-Trading accounts. Profit & Loss statements are generally used for trading accounts.
Allow Multi-Currency
Set this option to Yes, if you want to create multiple currencies. The option Currencies is displayed in Gateway of Tally > Accounts Info. menu only if you set this option to Yes.
Outstandings Management
Maintain Bill wise Details
The Bill-wise facility is turned on by setting this option to Yes. By activating the Billwise feature in F11: Features, the ledger masters under Sundry Debtors and Sundry Creditors automatically displays an additional option called Maintain balances bill-by-bill. On setting this option to Yes, you get an additional option Default Credit Period.
When you enter details of sales and purchases with Bill-wise turned on, Tally prompts you to identify the invoice with an appropriate reference number. The reference can then be used to allocate payments to the correct invoice to maintain an accurate account of outstanding.
| • | (For Non-Trading A/cs also) |
If you want to maintain bill wise details for Non-Trading Accounts also, set this option to Yes. Bill wise Details for Non-Trading Accounts is useful in those cases where one needs to track either an installment to be paid or a loan amount to be received over a certain period of time.
Activate Interest calculation
Set this option to Yes to enable Tally to calculate interest automatically based on the interest rate and style of calculation specified. Enabling this option allows interest calculation on outstanding balances for any ledger account or on each invoice for the period it is outstanding completely or partly.
| • | Use advanced parameters |
The advanced parameters are particularly useful where interest rates change from time to time. Set this option to Yes to enable this.
Cost/Profit Centres Management
Maintain Cost Centres
A Cost Center can be defined as a unit of an organization to which transactions can be allocated. When only costs or expenses are allocated to these units, they are referred to as Cost Centres. The Cost Centre feature is activated by setting this option to Yes.
| • | Use Cost Center for Job Costing |
To track all income and expenses for a project, set this option to Yes.
| • | More than ONE Cost category |
To create more than one Payroll or Cost Category, set this option to Yes.
| • | Use Pre-defined Cost Centre Allocations during Entry |
Set this option to Yes to define Cost Centre Allocations. Refer Set up Cost Centre Classes for more details
Invoicing
Allow Invoicing
Set this option to Yes, to create Sales and Purchase vouchers in invoice format. The advantage of using the invoice format for sales invoice entry is that it enables automatic calculations of Duties and Taxes accounts.
| • | Enter Purchases in Invoice Format |
Set this option to Yes, to make the invoice mode as the default voucher mode for purchase vouchers.
Use Debit/Credit Notes
The Debit Note and Credit Note voucher types are made available only if this feature is set to Yes.
| • | Use Invoice Mode for Credit Notes |
Set this option to Yes to create Credit Notes in Invoice Mode.
| • | Use Invoice Mode for Debit Notes |
Set this option to Yes to create Debit Notes in Invoice Mode.
Budgets & Scenario Management
Maintain Budgets and Controls
Set this option to Yes, to create multiple budgets. The Budgets menu option is displayed in Gateway of Tally > Masters Info. > Accounts Info. menu only if this option is set to Yes.
Use Reversing Journals & Optional Vouchers
Setting this option to Yes displays the Scenario option in Accounts Info menu. You will now be able to create and alter Scenarios. You can enter the Reversing Journal and make it to Optional for entries not to affect the books.
Other Features
Enable Cheque Printing
| • | Set/Alter Cheque Printing Configuration |
Setting this option to Yes, Tally will allow you to Alter the Cheque Printing Configuration
Allow Zero Valued Entries in Vouchers
Set this option to Yes, to allow Zero valued entries in vouchers.
Note: You can toggle between the Accounts, Inventory and the Statutory features screen using F1, F2 and F3 keys or using the options on the Button Bar respectively.
Inventory Features
This feature enables you to set the Inventory Features required for the transactions.
Go to Gateway of Tally > F11: Features > F2: Inventory
General
Integrate Accounts and Inventory
This field performs the same function as explained in Accounting Features.
Allow Zero Valued Entries in Vouchers
Set this option to Yes, to allow zero valued entries in vouchers.
Storage & Classification
Maintain Multiple Godowns
Set this option to Yes, if you have more than one stock point/storage Locations/ Godowns, and you want to track stock movement in these Locations. You can create any number of Stock Locations/Godowns. The Godowns/Locations option is displayed in Gateway of Tally > Inventory Info. menu only if you set this option to Yes. You will be able to know your stocks at each location as well as assign stock movement to one or more locations during voucher entry.
Maintain Stock Categories
Set this option to Yes, if you wish to create and maintain Stock Categories. This creates a new field Category in the Stock Item Creation screen.
Maintain Batch-Wise Details
Set this option to Yes, to maintain batch information pertaining to Stock Items. A new field Maintain in Batches is displayed in the Stock Item Creation screen.
Note: Batches should be used where they are small in number and remain constant. Do not use the batch option for tracking of lots through manufacturing processes. If that is done, you will soon have a large number of batches that are not deleted. You will not be able to assign costs to particular lots, as may be the intention.
| • | Set Expiry Dates for Batches |
Set this option to Yes, if you want to set expiry dates for the batches. This displays an additional field Use Expiry Dates in the Stock Item Creation screen.
This is useful for businesses that deal in goods that have expiry dates like medicines, food and other perishables. During voucher entry, date of manufacture of the product by default takes the date of the voucher. This date can be changed, but not to a date later than the voucher date. Expiry date cannot be a date prior to the voucher date.
Use different Actual & Billed Quantity
Set this option to Yes, if you want to specify quantities, that are different from that delivered/ received, when invoicing.
For example, you have delivered goods but some of them are in disagreement. So, your customer wants to be invoiced only for the undisputed quantity. He/She might consider the rest later and would then like to be invoiced. On the other hand, the rest might be so bad that it is useless even for you to take it back. Hence, you can record the fact while raising the invoice without altering the delivery note or passing a rejection entry.
Order Processing
Allow Purchase Order Processing
Set this option to Yes, to create Purchase Orders.
Allow Sales Order Processing
Set this option to Yes, to create Sales Orders.
Invoicing
Allow Invoicing
This field performs the same function as explained in Accounting Features.
| • | Enter Purchases in Invoice Format |
This field performs the same function as explained in Accounting Features.
Use Debit/Credit Notes
This field performs the same function as explained in Accounting Features.
| • | Use Invoice Mode for Credit Notes |
This field performs the same function as explained in Accounting Features.
| • | Use Invoice Mode for Debit Notes |
This field performs the same function as explained in Accounting Features.
Separate Discount Column on Invoices
This option is active only if Allow invoicing is set to Yes. Set this option to Yes, if you want a separate column for discount in invoices.
Purchase Management
Track Additional Costs of Purchase
Set this option to Yes, to obtain a break-up of purchase costs, without the need to separately debit ledger accounts for expenses. Typically, on purchases, one is interested in total costs and the breakup is of interest while doing analysis (except for expenses like VAT or Modvat, which can be claimed). In such cases, passing of accounting entries for expenses will have no consequences other than lengthening your ledgers.
Example:
Purchases from ABC & Co: 10 Pcs of Widgets@Rs.20 = Rs.200. Expenses incurred= Tax-Rs.20, Packing charges – Rs.15.40, Total purchase cost – Rs.235.
If you activate Track additional costs, you can pass the entry in any of the following methods:
From an accounting perspective, both entries are identical. The ledger accounts Purchase Tax and Packing charges are not debited with the amounts. Hence these figures are reflected only as breakup or analysis figures of Purchases account. The Actuals figure reveals the total cost incurred on the Purchase and will also affect the stock value.
You may also allocate additional costs on Purchases through subsequent entries or vouchers.
The rules for including subsequent vouchers in purchase costs that Tally follows are:
Basic Cost + Additional costs allocated (if any) + All costs in subsequent vouchers that have zero quantity, up to the first voucher that has a non-zero quantity.
Sales Management
Use Multiple Price Levels
Set this option to Yes to create Multiple Price Levels. Refer Enable and Create Price Lists for more details.
Additional Inventory Vouchers
Use Tracking Numbers (Delivery/Receipt Notes)
Set this option to Yes, if you want to use tracking numbers to maintain the relation between delivery notes and invoices/bills. This is available for both purchases as well as sales. Hence, if your business is affected by this situation either for goods received or goods sold, set this option to Yes. If you set it to No, you will not need the facility of separate delivery notes recording, as your Purchase and Sales Vouchers would double up as delivery notes.
Use Rejection Inward/Outward Notes
Set this option to Yes, if you wish to record rejection of goods separately and not through a common Debit Note or Credit Note.
Prepare and Follow British Style VAT Returns
If the Country Specific Configuration is set to International in the F12 Configure, then an additional field Prepare and Follow British Style VAT Returns is displayed.
Set this option to Yes, to follow British Style VAT Returns. Unlike Excise Duty, this option simply controls the VAT Return preparation. More ledger level set up may be required, which is discussed under UK VAT Analysis.
The Company VAT Returns screen is displayed.
If you deal with EEC countries, select a group for the fields Group Name under which ‘EEC Debtors’ are Classified and Group Name under which ‘EEC Creditors’ are classified from the list.
It is advisable to group your EEC Customers separately under a sub-group under Sundry Debtors. Likewise, group EEC Suppliers under a separate sub-group of Sundry Creditors. Take care to group only VAT registered companies in these groups as they would affect Box 8 and 9 as well as the EC Sales List. Unregistered companies or individuals (Distance Sales) should be grouped separately and treated like UK companies.)
If you do not deal with EEC countries, Select Not Applicable.
Statutory & Taxation
This feature enables you to set the Statutory Features required for the Company Operations. This option is enabled only if a country is selected from the list of countries under the field Statutory Compliance for in the Company Creation screen..
Go to
Note: The different features are available depending on the country you have selected in the Company Creation screen.
The following features are available on selecting India in the Company Creation screen.
Enable Dealer – Excise (Set/Alter Dealer – Excise Details)
Set these options to Yes, to enable/alter the Excise for Dealers feature. Refer Excise for Dealers for further information.
Follow Excise rules for Invoicing
Set this option to Yes, to follow Excise rules for invoicing. The Company Excise Details screen is displayed as shown:
Provide the above Excise information, for it to be printed on invoices and Accept, Yes to save.
Enable Value Added Tax (VAT)
Set/Alter VAT Details
Set these option to Yes, to enable the VAT features for the company. Refer Value Added Tax for more details.
Enable Service Tax
Set/Alter Service Tax Details
Set these option to Yes to enable the Service Tax features for the company. Refer Service Tax for further details.
Enable Tax Deducted at Source (TDS)
Set/ Alter TDS Details
Enable Tax Collected at Source (TCS)
Set/Alter TCS Details
Enable Fringe Benefit Tax (FBT)
Set/Alter FBT Details
Tax
Set this option to
Local Sales Tax Number
The Local Sales Tax Number entered during the Company
Inter-State Sales Tax Number
The details given here comprises of a number and date
It is not compulsory to give this information and you
PAN/ Income – Tax Number
The PAN/ Income Tax Number is the number allotted by the Income Tax Authorities. This number comprises of 10 digits and may be alphanumerical.
The information entered here will appear in Account Confirmation Statements. It is NOT compulsory to provide this information – this field can also be left blank.
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