Question 1

Which ledger type is used for automatic round-off in Tally Prime for invoices?

Accepted Answer

Invoice Rounding

Answer

Purchase Account

Answer

Sales Account

Answer

Round-Off Account

Question 2

When using automatic GST calculation, which of these options is NOT configurable in the ledger master?

Accepted Answer

GST Rate

Answer

Rounding Method

Answer

Taxability

Answer

Account Group

Question 3

What happens to the invoice value with a "Downward Rounding" method set in the ledger master?

Accepted Answer

It rounds down to the nearest multiple of the rounding limit.

Answer

It remains unchanged.

Answer

It rounds down to the nearest rupee.

Answer

It rounds up to the nearest whole number.

Question 4

In a sales invoice with automatic GST calculation, where is the round-off amount reflected?

Accepted Answer

It's automatically added/deducted to a separate round-off ledger.

Answer

It's not reflected, the final invoice value absorbs the difference.

Answer

It's distributed proportionally between CGST and SGST.

Answer

It's shown as a separate line item in the invoice.

Question 5

When configuring a voucher class for automatic GST calculation, which option is NOT required?

Accepted Answer

Selecting the applicable GST rate

Answer

Specifying a cost center

Answer

Defining the invoice type

Answer

Linking a sales ledger

Question 6

How can you achieve automatic round-off for tax amounts (CGST, SGST, IGST) in Tally Prime?

Accepted Answer

There's no direct configuration for automatic round-off on tax amounts.

Answer

It depends on the rounding method chosen for the invoice ledger.

Answer

You can set a rounding limit in the company features.

Answer

This requires customization through Tally Script.

Question 7

What is the benefit of using automatic GST calculation in Tally Prime?

Accepted Answer

Saves time and reduces manual errors.

Answer

Allows for different GST rates on a single invoice.

Answer

Enables integration with e-way bill generation.

Answer

Provides detailed audit trails for GST calculations.

Question 8

When entering a purchase invoice with automatic GST, which information is crucial for accurate tax calculation?

Accepted Answer

The HSN code of the purchased item.

Answer

The payment terms (cash or credit).

Answer

The supplier's location (intrastate or interstate).

Answer

The vendor's PAN number.

Question 9

What happens if there's a discrepancy between the calculated GST amount and the rounded-off invoice value in Tally Prime?

Accepted Answer

An error message is displayed, and the voucher cannot be saved.

Answer

The difference is automatically adjusted in the round-off ledger.

Answer

The user needs to manually correct the GST amount.

Answer

This scenario is not possible with automatic calculations.

Question 10

Tally Prime offers different rounding methods for invoice values. Which method is best suited for minimizing rounding errors?

Accepted Answer

There's no single "best" method, it depends on your company's preference (avoiding high rounding errors or maintaining consistent invoice totals).

Answer

Downward Rounding

Answer

Upward Rounding

Answer

Nearest Decimal Rounding

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