Book excerpt: This book aims to upgrade the accounting skills of professionals through the latest computer software Tally 7.2 but it begins with the basics of accounting so that even students and beginners find it useful. They can begin from the very basics of manual accounting and then easily go on to learn computerised accounting. For this purpose the book is divided into two parts. Part one is on manual accounting which deals with the fundamentals of accounting right from its basic concepts, conventions, terminology to creating and maintaining Journals and Ledgers, Balance Sheet, Final accounts etc. Part two deals with computerised accounting. It s not just the students who will benefit from it but also those accounting professionals who wish to add to their efficiency and speed that computerised accounting offers. This part gives a wide coverage on the subject which expands from installation of Tally to intricate accounting procedures like creation of Sales Orders and Invoices, Reports Generation, Multi Currency, Audit etc.It also gives details of the internet capabilities of the software Tally and activating TDS module in Tally. It also gives detailed information on VAT Its justification, explanation, and methods of its computation help you get familiarised with this latest system of taxation. It also focuses on Service Tax giving detailed information on activating Service Tax Module in Tally, change in Ledger and Voucher Entry with Service Tax enabled and various reports related to Service Tax.