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TallyPrime ensures that your data remains safe to provide your a hassle-free experience. At times, your company data may encounter exceptions due to various reasons. When you import any external data into TallyPrime, due the import process, TallyPrime verifies the data for any possible exceptions. In case the data was tampered or modified, the data may not be completely compatible for use after importing. Similarly, when you migrate or repair your data, TallyPrime may identify that some of the details for your existing masters and vouchers are missing. The same can happen when you synchronise the data between different computers. In all such cases, TallyPrime that the data is not completely lost. Instead, it identifies such data as exceptions and brings them together under a common report, so that you can resolve them in a few steps and seamlessly used in your day-to-day transactions.
Exceptions in your masters and vouchers can happen when you import, repair/migrate or synchronise your data. In such cases, TallyPrime ensures that all the exceptions are available to you at a single location so that you can view them and take informed decisions. When the masters and transactions are under exception, those are not part of your reports. For examples, masters that are under exception do not appear in the Chart of Accounts.
View the exceptions report to take necessary resolution steps to correct the data.
The All Exceptions report appears, displaying the number of exceptions caused due to Import, Migrate/Repair, and Synchronisation in TallyPrime.
You can view the report directly from specific menu options.
Master-Related Exceptions
Voucher-Related Exceptions
To refer to the exceptions instantly, save the Exception report:
Press Alt+F5 (Detailed) to view the report in detailed format.
If you are viewing the report Exception-wise, you can view the masters and vouchers related to that exception.
If you are viewing the report Master-wise & Voucher-wise, you can view all the exceptions for the masters and vouchers.
The report displays specific details of the exception, such as the master name/voucher the exception belongs to, count of the affected master/voucher, and so on. This enables you to resolve each exception by performing necessary steps.
Viewing the exceptions help you to analyse your data better. Depending on the exception, you can decide how to resolve them. TallyPrime’s data resolution framework provides a seamless experience without the risk of any data loss.
TallyPrime not only provides a consolidated view of all the exceptions, but also enables you to resolve them straight from the exception report. Depending on the exceptions, you can take necessary steps to resolve them. There are different ways you can resolve the exceptions.
In this section
Certain exceptions will require you to drill down to update the missing or invalid information due to which an exception has occurred.
Let’s consider the following exception for illustration purpose:
Master name is missing
To resolve this exception:
The master Emp Attendance gets created and starts reflecting in your Books. In addition, the exception gets resolved and does not appear any more in the report.
You may get an exception in one or more masters/vouchers. In such cases, instead of resolving the exception one after the other, TallyPrime allows you resolve the exception from the same screen.
Let’s consider the exception Master name is missing for illustration purpose.
The field that requires an update becomes editable for all the lines, allowing you to update the details – the master name in this case.
As the masters get created, the exception gets resolved. The master that you did drill down from the Exception report is no more part of the exceptions.
For a few exceptions, you can provide the missing information on the fly without the need to Also, when you have multiple rows showing an exception, you might want to update the details of selected rows one after the other. In such a situation, you can use the Update Details option.
Drill down from the exception to view the report that lists the masters the exception belongs to.
As with other exceptions, the exception gets resolved.
Books of Account: When the data has any exceptions, the affected masters and vouchers are not included as part of your Books. This is to ensure that your business reports are not impacted by inaccurate information. However, once you resolve the exception in the masters and vouchers, the same then becomes the part of your Books.
Edit Log: When you resolve and exception, a voucher or master gets created. Therefore, the activity against the affected master or voucher is logged as ‘Created due to…” in Edit Log.
Voucher Numbering: When you resolve an exception in a voucher, it is treated as a new voucher for the Books. This new voucher is saved with the next available Voucher No. depending on your existing transactions.
In case your company data has some masters missing which were earlier referenced in another master or voucher, such affected master or voucher are categorised under the exception Referenced master is missing. This exception occurs when there is a reference of the master in your imported data, but the referenced master is not available in the existing data in TallyPrime.
A referenced master is a master that is used as an input in a field of another master or voucher. The latter is known as the affected master or voucher. For example, if you are creating a godown Bangalore-Sub under another godown Bangalore-HO in TallyPrime, Bangalore-Sub is the affected master and Bangalore-HO is the referenced master. , TallyPrime identifies that this master is missing which has created an exception for Bangalore-Sub.
In such instances, TallyPrime helps you to create the missing referenced masters to resolve the exceptions in the affected masters and vouchers.
This report displays the referenced master that is missing from the data, the number of missing referenced master, and the number of affected masters. You can drill-down from any of these columns.
Drill-down from the respective columns to resolve the exception, as per your requirement:
Press any key to continue to remove all affected masters from the exceptions report.
The Remarks column provides additional information that helps in understanding the exception better and deciding on the resolution.
On resolving the Reference master is missing exception, the affected masters/vouchers start appearing as part of your books, similar to results of resolving any other exception.
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How To Record Transactions With Tcs In Tallyprime
TCS (Tax Collected at Source) is the tax that a TallyPrime not only supports the latest budget changes for TCS but also provides you with a comprehensive TCS solution for your business needs. You now have the flexibility to calculate TCS either after receiving the payment or during billing.
If you are a seller of goods such as timber wood, tendu leaves, scrap, and so on, then you have to collect TCS at the time of sale. . This is applicable only for sellers whose annual income has exceeded Rs 10 crore in the previous financial year. TallyPrime provides you with the option to track the threshold limit for a party. TCS will be automatically calculated when the sales exceeds the threshold limit (Rs 50 lakhs, for instance) for the party across transactions.
You now have the choice to calculate TCS on either realisation/receipt of the invoice value or directly in the invoice (accrual method), depending on your business practice. If you choose accrual, then you will collect TCS while billing the customers. If you choose realisation, then you will collect TCS on receipt of the invoice value. TallyPrime provides you with the flexibility to apply either method of calculation as per the Nature of Goods. Once you have selected the basis of calculation, it will be applied to all your transactions under that particular Nature of Goods. For instance, you can set TCS calculation on accrual for the sale of goods such as luxury cars or timber wood, and . Accordingly, TallyPrime will keep aggregating the values for each party across transactions and calculate TCS once the aggregate amount crosses the threshold limit for a party.
What’s more, with TallyPrime you can easily configure TCS in either the stock items or in the sales ledger, which will help you calculate TCS with great ease and accuracy. If you have hundreds or thousands of stock items, then you don’t have to configure TCS for each stock item. You can just configure TCS in the sales ledger, and the TCS amount will be calculated in the transaction. For some reason, if you do not want to calculate TCS in the transaction, then you can set TCS to Not applicable in the stock items or sales ledger.
TallyPrime provides you with the choice to calculate TCS on either realisation of the invoice value or directly in the invoice, depending on your business practice. If you choose realisation, then you will collect TCS after receiving the payment from the buyer. You can apply the realisation method of calculation in the relevant Nature of Goods, and it will be applied to all your transactions under that particular Nature of Goods. TallyPrime will aggregate the values for each party across transactions and calculate TCS once the aggregate amount crosses the threshold limit for a party.
Set up tax calculation and threshold limit
Enter relevant details such as the name of the Nature of Goods, Section, Payment code, Threshold/exemption limit, and applicable TCS rates.
Configure the following options:
Tax calculation based on realisation – Set this option to Yes to calculate TCS on realisation in the transactions involving this Nature of Goods.
Illustration: Let us consider the Threshold/Exemption Limit as Rs 50 lakhs. Now if the value of sales is Rupees 57 lakhs, then the Taxable Value will be Rs 7 lakhs if this option is set to Yes. However, if this option is set to No, then the entire amount of Rs 57 lakhs will be taxable.
Press Ctrl+A to accept, as always.
Select the Party A/c name and Sales ledger.
Select thein thesub-screen:
Press Ctrl+A to accept, as always.
The excess amount (Rs 10,00,000) will appear in the Collection at Normal Rate section, while the rest of the amount will appear in the Under Exemption Limit section.
If you choose the accrual method of calculation, then you will collect TCS while billing the customers. TallyPrime provides you with the option to configure the accrual method for the relevant Nature of Goods. Once you have selected the accrual method, it will be applied to all your transactions under that particular Nature of Goods.
Enter relevant details such as the name of the Nature of Goods, Section, Payment code, Threshold/exemption limit, and applicable TCS rates.
Configure the following options:
Tax calculation based on realisation – Set this option to No to calculate TCS on accrual in the transactions involving this Nature of Goods.
Press Ctrl+A to accept, as always.
Select the Party A/c name and Sales ledger.
Select thein thesub-screen:
Select the item and the TCS duty chúng tôi can see that TCS was calculated on the Amount exceeding the overall threshold limit. The total amount for TCS consideration is Rs 1,20,00,000, which exceeds the threshold limit (of 50,00,000) by Rs 70,00,000. Thereby, TCS will amount to Rs 7000 (at 0.1%).
Press Ctrl+A to accept, as always.
You can see that the excess amount (Rs 70,00,000) appears in the Collection at Normal Rate section, while the rest of the amount appears in the Under Exemption Limit section.
You may have set the method of calculation as realisation in the Nature of Goods, but for a particular party you may want to override this calculation to accrual. Accordingly, TallyPrime provides you with the flexibility to change the method of calculation during the transaction or in the party master.
Override in the party master
If you select Yes, then the following sub-screen will appear.
Now TCS will be calculated in the sales transaction even if realisation is selected as the method of calculation in the Nature of Goods.
Open the TCS Allocation Details screen from the sales/receipt voucher.
Press Ctrl+A to accept, as always.
Select the Party A/c name and Sales ledger.
If the TCS duty ledger is not selected, then TCS Allocation Details will appear after the voucher total.
Press Ctrl+A to accept, as always.
Select the Buyer/Lessee type as Government.
Set the option Set/alter zero/lower rate for collection to Yes. The Zero/Lower Collection Details screen will appear.
Select the Provision as 206C(1H) – Collectees Eligible for Exemption.
Press Ctrl+A to accept, as always.
If you are calculating TCS on accrual, then record a sales voucher for this transaction. If you are choosing TCS on realisation, then record a receipt voucher.
Select the Party A/c name and Sales ledger.
Select thein thesub-screen:
Select the item and the TCS duty chúng tôi can see that TCS was not calculated, even though the Amount exceeds the threshold limit (50,00,000) set for the Nature of Goods
Press Ctrl+A to accept, as always.
You can see that the transaction and the excess amount (72,00,000 – 50,00,000 = 22,00,000) appears in the Collection at Normal Rate section, while the rest of the amount appears in the Under Exemption Limit section.
If your business has buyers who deduct TDS while making payments, then you don’t have to collect TCS from such buyers. TallyPrime provides you with the flexibility to set the exemption for such buyers during the transaction. If you are calculating TCS on accrual, then record a sales voucher for this transaction. If you are choosing TCS on realisation, then record a receipt voucher.
Select the Party A/c name and Sales ledger.
Select thein thesub-screen, and press(Configure). Thesub-screen will appear.
Set the optionto. Thesub-screen will appear.
Select the item and the TCS duty chúng tôi can see that TCS was not calculated, even though the Amount exceeds the threshold limit (50,00,000) set for the Nature of Goods.
Press Ctrl+A to accept, as always.
If the buyer is going to deduct TDS while making the payment, then the transaction will be exempted from TCS. Further, when the buyer pays this TDS amount to the government, a challan no. will be issued. While filing TCS returns, you have to provide this challan no. and date against which TDS was paid.
.
TCS will be calculated at a higher rate (1% instead of 0.1%) when the PAN of a buyer is not available, and the transactions will appear in the Collection at Higher Rate section in Form 27EQ. With TallyPrime, you can easily cross-check the list of buyers without PAN and update the details if available. TCS will be recalculated and the entries will move to the Collection at Normal Rate section in Form 27EQ.
TallyPrime will help you in easily accounting for TCS payments made to the department. You can record such payments using a payment voucher. You can also record the payment of late fee for TCS, in case the returns were filed after the due date. Further, the delayed payment of TCS might attract interests and penalties, and you can easily record such payments in TallyPrime. While recording the payment, you only have to select the Penalty or Late Fee ledger grouped under Indirect Expenses.
You can record a payment voucher to account for the TCS on payment made to the department.
Press Ctrl+F (Autofill) and specify the following details:
Select Stat Payment as the
Type of transaction
.
Select TCS as the Tax Type and enter other details as the Period From, Collected Till Date, Section, and Nature of Goods.
Select the relevant Collectee Status and Residential Status.
Accept the screen. As always, you can press Ctrl+A to save.
Set the option Print as TCS Challan to Yes and enter the Filing Date.
Press Ctrl+A to print the ITNS Challan.
With TallyPrime, you can also record the payment of late fee for TCS, in case the returns were filed after the due date.
Select cash or bank ledger in the Account field.
Select the TDS/TCS tax ledgers, and the relevant nature of payments/nature of goods.
Select the Late Fee ledger grouped under Indirect Expenses.
Accept the screen. As always, you can press Ctrl+A to save.
The delayed payment of TCS might attract interests and penalties, and you can easily record such payments in TallyPrime.
Select cash or bank ledger in the Account field and select the interest ledger grouped under Indirect Expenses.
Select Interest from the from the list of payment types and enter the amount.
Select the penalty ledger grouped under Indirect Expenses.
Accept the screen. As always, you can press Ctrl+A to save.
With TallyPrime you can view and track the status of your TCS-related transactions in Form 27EQ, and identify any incomplete information or mismatch in details. Once you verify the details, you can export the details as a text file and proceed for filing TCS returns. Additionally, the TCS feature in TallyPrime comes with reports like TCS Outstandings and Challan Reconciliation. The TCS Outstandings report will help you view the outstanding TCS amount based on the party or the nature of goods. You can use the Challan Reconciliation report to enter the challan details for payment transactions.
You can view all the pending TCS payments for each nature of goods or party in the TCS Outstanding report.
A brief explanation about the fields in the report is given below:
Field Name
Description
Nature of Goods
Company
Displays the total amount of tax collected from parties of Company Resident and Company Non-Resident buyer or lessee type for whom sale transactions were recorded.
Non-Company
Displays the total amount of tax collected from parties of Individual/HUF – Resident and Individual/HUF – Non Resident buyer or lessee type for whom sale transactions were recorded.
Total Pending
Displays the total outstanding amount of all TCS pending payment to be made.
Party-wise information: To view details of the transactions for each party, press F5 (Party-wise).
Change View: To display a report in different views with additional details or for a specific period, press Ctrl+H (Change View). You can also view other reports related to the current report.
Nature of Goods: To view the transaction details of each nature of goods, select the required nature of payment.
A brief explanation of the fields in the report is given below:
Field Name
Description
Date
Displays the date of recording payment, journal or purchase voucher.
Ref. No.
Displays the reference number entered in the payment, journal or purchase voucher.
Party’s Name
Displays the party name from where TCS has been collected, and for which the payment is yet to be made.
Opening Amount
Displays the opening amount of TCS.
Pending Amount
Displays the pending amount of payment to be made to the government.
Due On
Displays the last date of payment.
Overdue By Days
Displays the number of days passed after the due date.
TCS paid to the government have to be accompanied with ITNS 281 challan. You can generate this from the payment voucher and enter the challan details in the Challan Reconciliation report.
Press Alt+R (Reconcile).
Enter the Challan No. and Challan Date if required.
As per NSDL department file validation tool, challan number and challan date are not mandatory. In case of online TCS duty payment, you can provide the challan number and challan date, or leave the fields blank, and validate the file successfully.
The Form 27EQ report in Tallyprime will help you in filing accurate returns.
The Total Vouchers displays the total number of transactions for a period, which are categorised as Included in return, Not Relevant in this Return, and Uncertain Transactions (Corrections needed). You can drill down to view the Statistics report, which comprises voucher types with the corresponding voucher count.
This displays all the vouchers that comply with the requirements for filing the returns, in terms of the details available in the masters. These vouchers will be a part of TCS form as applicable.
Booking Voucher: Displays the count of booking vouchers that are recorded without TCS deduction to book the expenses.
Booking with Collection Voucher: Displays the count of booking vouchers that are recorded with TCS collection details.
Collection Voucher: Displays the count of all the collection entries passed during the report period.
Reversals: Displays the count of all the entries recorded for TCS reversal.
Overridden by User: Displays the count of the TCS vouchers that were recorded and saved by overwriting the pre-defined tax details.
The Form 27 EQ – Not Relevant in this Return screen will display the list of excluded vouchers for the selected voucher type. You can drill down to the required transaction to alter or view more details.
This displays the count of all vouchers with insufficient information. These exceptions can either be master-related or transaction-related.
In this section
View Uncertain Transactions
Master Related Exceptions
Unable to Determine TCS applicability for ledgers or stock items: This exception occurs when the sales/income ledger credited in the transaction, or the stock item selected, has not been tagged to a specific TCS Nature of Goods. Select the appropriate TCS Nature of Goods to resolve this exception.
Unable to determine collectee type for party: This exception occurs when the collectee type of the party ledger is set to undefined. Select a collectee type to resolve this exception.
To set the collectee type
Drill down from Unable to determine collectee type for party.
Press Spacebar to select the Name of the Ledger.
Press Ctrl+F4 (Collectee Type) and select the required collectee type.
PAN not available for party: This exception occurs when the selected party ledger has been enabled for TCS, but PAN has not been specified. You need to specify the PAN, and the applicability of PAN or the status of PAN application for the party. To enter the PAN details:
Drill down from PAN not available for the Party.
Enter the PAN of the party and applicability, if PAN is available. Otherwise, enter one of the terms given below, based on the corresponding reason:
PANAPPLIED – If the party has given a declaration stating that he/she has applied for PAN, but are yet to receive the same.
PANINVALID – If the PAN format provided by the party is incorrect.
PANNOTAVBL – If the party has not given any declaration or PAN number.
Notification is not available for zero or lower rate: This exception occurs when a lower rate or zero rate deduction is recorded for a transaction, and the corresponding notification number is not defined for the party/expense ledger. You can resolve this exception by specifying the notification details.
You can drill down to view the party ledgers that have been used to record the zero-rated/lower-rated TCS entries. You can identify the parties for which lower deduction/zero rate is applicable, select the relevant TCS Category, and provide the exemption notification number, applicability period, and the rate.
Unable to determine TCS applicability for duty ledgers: This exception occurs when the TCS duty ledger has not been classified under a TCS Category. Select a specific TCS Nature of Payment of TCS duty ledger to resolve this exception.
Drill down from Unable to determine TCS applicability of ledgers.
Select the Default Nature of Goods. You can view the Duty ledgers for which TCS Nature of Goods have not been defined.
Select the required stock items and press Alt+B (Nature of Goods) to set the Nature of Goods.
Unable to determine the tax rate for nature of goods: This exception occurs when the TCS nature of goods is not zero rated and the rate of tax is not defined. Enter the tax rate to resolve this exception.
Drill down from Unable to determine the tax rate for nature of goods.
Enter the Rate for the TCS nature of goods or set the option Is Zero Rated to Yes.
Accept the screen. As always, you can press Ctrl+A to save.
Transactions Related Exceptions
Unable to determine TCS category in transaction: This exception occurs when TCS nature of goods is not defined for the sales ledger either in the ledger master or transaction.
Drill down from Unable to determine TCS category in transaction.
Drill down from the transaction.
Go to the amount entered for the sales ledger and press Enter.
Select the Nature of Goods.
Press Ctrl+A to accept the sales invoice.
To resolve the exception:
Drill down from No link is available with collection voucher.
Select the transaction and press
Alt+L
(Link All).
Unable to determine collectee details in cash transactions: This exception occurs for TCS cash sales.
To resolve the exception:
Drill down from Unable to determine collectee details in cash transactions.
If the details are not defined in the ledger, then select the Collectee Type and enter the PAN.
Accept the screen. As always, you can press Ctrl+A to save.
TCS collected but not linked with sales voucher: This exception occurs when the sales bill is not selected for the party ledger in TCS journal voucher.
Drill down from TCS collected but not linked with sales voucher.
Select the journal voucher and press Enter.
Press Spacebar to select the required booking vouchers.
Press
Alt+R
(Auto Fill) or Alt+L (Full) or
Alt+V
(Partial), as required, and enter the amount in
Link to Collection
.
Accept the screen. As always, you can press Ctrl+A to save.
Transactions accepted with conflicts: This exception occurs when the TCS nature of goods defined for the sales ledger and selected in the invoice (by enabling the option Allow modification of Tax Details for TCS in sales invoice configuration) are different, and the invoice is accepted by pressing O to override the tax details.
Drill down from Transactions accepted with conflicts.
Press Spacebar to select the transaction.
Press Alt+J (Accept as is).
Accept the screen. As always, you can press Ctrl+A to save.
You can save the changes after resolving the required exceptions in Form 27EQ.
In this section
Save the return
Recompute Corrected Return
Generate Form 27EQ report for the period for which the return was saved. For example, if the return was saved for the period 1-Apr-2023 to 30-Apr-2023, then view the report for the same period. If the transaction details are changed, the message ‘The return values might have been changed.’ will appear, with a new section that comprises details of:
Modified Masters: If the duty ledger is not selected in the invoice, this row will not show the transaction count.
Modified Vouchers: This row displays the total count of vouchers that are created, altered, cancelled, and deleted. Press Enter to view the Summary of Modified Vouchers.
To view the list of transactions against each modification type:
Drill down from the Created, Altered, Cancelled, or Deleted vouchers in which the transaction count is displayed.
Press Enter to display the voucher alteration screen.
Press Alt+W (Recompute) to include the changes made into the report and recalculate the values. Once the values are recomputed, the section displayed for modified masters and transactions will not appear.
Overwrite the recomputed information
On recomputing the values of modified transactions, the following buttons will appear in Form 27EQ:
If all exceptions are resolved and the count of Uncertain Transactions is zero, then Alt+B (Overwrite) and Alt+H (Save as Revised) will appear.
If the count of Uncertain Transactions count is not zero, then Alt+B (Overwrite) will appear.
Press Enter to accept and overwrite the data with modified details.
Save as Revised
To save the recomputed value as revised returns without overwriting the information, press Alt+H (Save as Revised). This button appears only if the count of Uncertain Transactions is zero.
Press Enter to accept and save the revised return.
The Collection Details section denotes the type of collection under which the included transactions are grouped.
To view the PAN number of each buyer/collectee:
This section contains details of all TCS payment vouchers of the current period. Payments made to parties, petty expenses, or any statutory payments other than that of TCS are not displayed here.
With Tallyprime you can export Form 27 EQ in the text format.
Form 27 EQ can be exported only after it is saved. The report closes after it is saved. Reopen Form 27 EQ.
Press Alt+E (Export) and select E-Return to view the Export Report screen.
Select the required File Format. It is set to SDF (Fixed Width) by default.
Specify the Folder path where the text file has to be exported.
Select the 27EQ returns .txt file exported from TallyPrime in the field TDS/TCS Input File Name with Path.
Select the challan status inquiry .csi file downloaded from TIN website in the field Challan Input File Name with Path.
Enter the location to save the validation error file in the field Error/Upload & Statistics Report File Path.
Print the Form 27A created by the validation tool.
Submit the Form 27A and 27EQ returns .txt file (soft copy) at TIN-FC or upload on NSDL website.
In case the validation is not successful, results are updated in the error report file. Rectify these errors in the data and re-generate the 27EQ returns text file for validation.
The Return Transaction Book displays the list of saved returns. Each time the form is modified and saved, the details are displayed as a separate row in this book, as shown below:
To generate the return that was saved, select the required row and press Enter.
The latest version of the File Validation Utility (FVU), 7.5/7.6, is available. Accordingly, you can generate the Form 27EQ text file in TallyPrime for filing TCS returns. However, you have to make a few updates in the text file before validating it in the FVU and filing TCS returns. This will ensure that your returns comply with the latest requirements.
The latest updates are regarding deduction of tax in case of specified senior citizen (under section 194P). Accordingly, the following new fields under the batch header information have been added:
Field 70: Count of Section 194P Details Record (Not applicable)
Field 71: Batch Total of – Gross Total Income as per Section 194P Details (Not applicable)
For these changes, it is recommended that you open the exported text file of the return, as you will be able to update the batch header information easily.
In TallyPrime, export Form 27EQ text file.
In Form 27EQ report, press Alt+E (Export), select E-Return.
In the Export screen, configure the Folder Path, as needed, and select Send.
Open the text file (in Notepad) from the Folder Path.
Now the Form 27EQ text file is ready as per FVU 7.5/7.6. You can validate it in FVU 7.5/7.6 and proceed to file TCS returns.
TallyPrime will help you in easily setting up your books for TCS and getting started with transactions. After enabling TCS for your company, you have to configure TCS for your masters such as stock items, party ledgers, tax ledgers, and so on. Additionally, you also have a special master for TCS called TCS Nature of Goods, which will help you set up important TCS details such as the Section, Payment code, TCS rates, method of TCS calculation (either realisation or accrual), and so on.
You can enable the Tax Collected at Source (TCS) feature in TallyPrime, provide surcharge details, and create the masters required to record transactions.
To use TCS features for recording transactions, you will need to activate TCS for your company.
Specify details such as TAN registration number, Tax deduction and collection Account Number (TAN), Collector Type, and Collector branch/division.
Press Enter. The TCS Collector Details screen appears.
Set Ignore IT Exemption Limit to Yes, if you don’t want to consider the IT exemption limit, or to No, if you want to consider the IT exemption limit.
Set the option Provide Surcharge and Cess details to Yes.
Accept the screen. As always, you can press Ctrl+A to save.
TallyPrime facilitates defining TCS details at different levels. This provides the convenience of applying tax rules at the highest level, which is the company level, as well as the flexibility to modify, override, or define details at other levels, based on the business requirement. The rules will be applied in this order:
Stock Group
Stock Item
Ledger Group
Ledger
Transaction
Transaction Entry
Scenario 1: I don’t maintain inventory. I manage only accounts in my company.
For a company that maintains only accounts, TCS rates can be defined at the sales or purchase level.
Select the sales/purchase ledger.
If you do not see this option, ensure that
Enable Tax Collected at Source (TCS)
is set to Yes in F11 (Features) for your company.
Press Ctrl+Enter on the Nature of Goods to set the tax rate.
Enter the TCS rate in the TCS Nature of Goods screen.
Accept the screen. As always, you can press Ctrl+A to save.
Scenario 2: I deal with goods for which every stock item has a different TCS category, and want to specify TCS rates.
For a company that deals with stock items that are tagged to a different TCS category, the TCS rate details have to be defined at the stock item level.
Select the Stock Item.
Set the option Is TCS Applicable to Applicable.
Press Ctrl+Enter on the Nature of Goods to set the tax rate.
Enter the TCS rate in the TCS Nature of Goods screen.
Accept the screen. As always, you can press Ctrl+A to save.
Scenario 3: I maintain multiple stock items under each TCS category and want to specify TCS rates.
For a company that has multiple stock items under each stock category, the TCS rates can be defined at the stock group level.
Select the Stock Group.
Enable Set/Alter TCS Details to Applicable.
Press Ctrl+Enter on the Nature of Goods.
Enter the TCS rate in the TCS Nature of Goods screen.
Accept the screen. As always, you can press Ctrl+A to save.
Scenario 4: I want to specify TCS applicability for sales and income ledgers.
Select the Sales/Income ledger.
Set the option Is TCS Applicable to Applicable.
Press Ctrl+Enter on the Nature of Goods to set the tax rate.
Enter the Section, Payment Code, and TCS Rate in the TCS Nature of Goods screen.
Accept the screen. As always, you can press Ctrl+A to save.
You can define the TCS nature of goods your business deals.
Select the required Nature of Goods. The Section and Payment code are displayed automatically.
Enter the Rate of TCS for With PAN and Without PAN. The same appears in Rate for other deductee types.
Accept the screen. As always, you can press Ctrl+A to save.
You can create stock item masters for goods that are classified under the TCS nature of goods.
Enter the Name.
Select a Stock Group in the Under field.
Set the option Is TCS applicable to Applicable.
Accept the screen. As always, you can press Ctrl+A to save.
TCS will be collected on the basis of the collectee type defined in the party ledger. You can create TCS ledger as follows:
Enter the Name and select Sundry Debtors in the Under field.
Enable the option Is TCS Applicable, to allow TCS collection for the ledger.
Set Use Advanced configurations for TCS to Yes.
You can set the ledger to ignore income tax and/or surcharge exemption limits.
On selecting Section Number 206C and entering the certificate details, the transactions recorded using these ledgers will appear in the relevant sections of Form 27EQ.
When the PAN is not available, enter one of the terms given below as the PAN/IT No., based on the corresponding reason:
PANAPPLIED – If the party has given a declaration stating that he/she has applied for PAN, but are yet to receive the same.
PANINVALID – If the PAN format provided by the party is incorrect.
PANNOTAVBL – If the party has not given any declaration or PAN number.
Accept the screen. As always, you can press Ctrl+A to save.
You can create sales ledger with TCS nature of goods under Sales Accounts.
Select Sales Accounts in the Under field.
Set Inventory values are affected to Yes.
Set the option Is TCS Applicable to Applicable.
Accept the screen. As always, you can press Ctrl+A to save.
You can create a duty ledger for accounting for TCS and also specify the nature of goods.
Select Duties and Taxes in the Under field.
Select TCS as the Type of Duty/Tax.
Accept the screen. As always, you can press Ctrl+A to save.
How To Record Purchase Order And Receipt Note In Tallyprime
In some business scenarios, you may want to raise a demand to the supplier for a supply mentioning the required stock details. You can record a Purchase Order in TallyPrime to raise such demand indicating the types, quantities, and agreed prices for products or services. It controls the purchasing of products and services from external suppliers. Similarly, once you have received the goods, you can record a Receipt Note in TallyPrime to account for the goods received and against the existing Purchase Order as well. You can view your purchase bills that are pending and also pre-close orders via partial cancellation or complete cancellation as well.
When the order is placed with the suppliers for the supply of goods, the items, quantities, order due date, and so on, details are given with the Purchase Order Number. Later, when these goods are received, the Purchase Order is tracked for the Order Details
The Outstanding Purchase Order reports are available in TallyPrime. Also, knowing the order position of any item in the Stock Summary is possible. Separate Purchase Order Outstanding report and Purchase Order Summary report are also available.
Open the purchase order voucher screen.
In case the voucher is inactive, you will be prompted to activate the Purchase Order voucher type. Select Yes or press Y to proceed.
Specify the supplier details.
Party A/c Name: Select the party name and press Enter.
As always, you can press Ctrl+A to save and proceed.
Enter Party Details.
Select the Purchase to allocate stock items.
Select stock item.
If orders are split with different due dates, specify the appropriate due date for each lot to be sold.
After entering the due dates for all the lots, press Enter on the Due on field to return to the Voucher Creation screen.
Press F12 (Configure), and set the options as needed. The report appears with the relevant details.
You may have to close orders with negligible quantities yet to be received, or you are no longer planning to receive those pending items from the supplier. Pending references for such orders continue to exist in TallyPrime until you close them. You can pre-close an order from Purchase Order Outstanding reports or from the purchase order transaction and reports.
In this section
Open the purchase order voucher in alteration mode and configure it for pre-closure of the order.
This will pre-close the order partially based on the entered details.
You can also pre-close the purchase order completely.
Open the sales order voucher screen in alteration mode.
As always, press Ctrl+A to save.
Based on your convenience, you can pre-close the orders with the purchase order voucher, receipt note, or purchase voucher.
Press F12 (Configure).
Set the option Show Cleared Purchase Orders to Yes.
Set the option Show Pre-closure Order details to Yes.
Set the option Show Reason to Yes.
The Order Details screen appears with the Pre-Closed Qty (Closed on) column and Reason for Pre-Close field. Now, you can partially or even completely pre-close orders directly from Purchase Order (Due Only) report.
Pre-close order – partial cancellation of orders
Select the purchase orders (press Spacebar to select more than one order), and press Alt+W (Pre-close Orders).
As always, press Ctrl+A to save.
Pre-close order – complete cancellation of orders
Select the purchase orders (press Spacebar to select more than one order)
As always, press Ctrl+A to save.
In some business cases, after you record a purchase order, the supply might get partially or completely canceled. Also, you may want to keep a track of the purchase orders outstanding and account for the partially or completely canceled orders. TallyPrime provides you with the Purchase Order Outstandings report to view all such outstanding orders. You can also pre-close the outstanding orders and canceled orders at any point in time.
There are different reports under Purchase Order Outstandings. The outstanding orders can be viewed Stock Group-wise, Stock Item-wise, Group-wise, Ledger-wise, or from All Orders.
In this section
This report displays the Purchase Order Outstanding summary of all or a selected Stock Group.
It displays the Date of the order, Order Number, Name of Party, Ordered Quantity, Balance Quantity, Rate, Value of the ordered stock, Due on date for delivering the goods, and the number of days overdue.
You can press F12 (Configure) and set the options as needed, to view the details of the required orders for each account group.
This report displays the Purchase Order Outstanding summary of Stock Items.
Select the stock item from the List of Stock Items and press Enter.
You can press F12 (Configure) and set the options as needed, to view the details of the required orders for each stock item.
You may have created subgroups for your Sundry Creditors based on the region, type of party, city, location, or for each salesman, as per your business need. You can use this report to view the Purchase Order Outstanding for such groups.
Select Sundry Creditors and press Enter.
You can press F12 (Configure) and set the options as needed, to view the details of the required orders for each account group.
This report displays the Purchase Order Outstanding summary of ledgers.
Press F12 (Configure) and set the below options to get a comparison of the number of Orders Booked, Orders Cleared, Pending Orders, and also Opening Orders, if any.
Show Opening Orders to Yes.
Show Orders Booked to Yes.
Show Cleared Orders to Yes.
If you have any pending orders which are yet to be cleared, you can get those orders displayed in the Opening Orders column by setting the date that is one day after the due date set for that order.
You can also set other options as needed from F12 (Configure), to view the required order details for each ledger.
Drill down from the stock item to view the Purchase Orders Outstanding of the stock item in the Order Details screen.
This report displays the Purchase Order Outstanding summary of all the pending orders. It displays the list of stock items with pending purchase orders along with the order details, party details, and due date for delivering the goods. It also provides information on Goods received but Orders not Sent, if any.
Press Alt+F5 (Detailed) to view the purchase orders in detailed format.
Press F6 (Age wise) to view the age-wise analysis report.
Press F8 (All Orders) to view all the orders that are due. This button can be used to view All Orders and Due Orders alternatively.
Press Alt+W (Preclose Orders) to pre-close the purchase orders.
The procedure to record Receipt Notes with or without Purchase Orders is explained below.
Open the Receipt Note voucher screen.
You can activate the Receipt Note voucher type if the voucher is inactive. Select Yes or press Y to proceed.
Enter the Reference No if required and Date.
In Party A/c name, select the party ledger against which you are recording the receipt note.
On the Party Details screen, enter the Order Details and Receipt Details as required.
Select the Purchase Ledger.
Specify the details in Stock Item Allocations screen.
If you select a purchase Order No(s) in the Party Details screen of the invoice:
The stock items details in the purchase order appear in the receipt note.
The Order No.is prefilled in the Stock Item Allocations screen.
If Order No(s) is selected as Not Applicable then specify the details in Stock Item Allocations screen.
Enter a Tracking No. By default, the invoice number appears. You can change it if required by creating a New Number.
Set the Order No. to Not Applicable.
Enter the Quantity and Rate.
Accept the screen
Enter the Narration if required. As always, press Ctrl+A to save the voucher.
A Receipt Note with Tracking No. marked as Not Applicable is an inventory document affecting only the inventory values. This will not affect the accounts.
You can select the tracking number of the receipt note to track the received goods in the purchase invoice.
Open the purchase invoice and enter the invoice number and date.
Enter the Supplier Invoice No.: and Date.
Henceforth, you can enter the additional details in the purchase voucher until you change the option in F12 (Configure).
Select the party ledger in the Party A/c name.
Select the receipt note reference in the purchase invoice.
Select the Purchase Ledger.
Tracking No.: and Order No.: will be auto-filled by default based on the receipt note and order number reference.
As always, press Ctrl+A to save the voucher.
A receipt note is closed if billed completely. The details appear in the Purchase Bill Pending report if it is partially closed.
Ensure the tracking number feature is enabled.
Record the purchase voucher.
Select the party ledger and stock item.
In the Stock Item Allocations screen:
Select New Number for the Tracking No.
Enter the stock item’s Quantity and Rate. The Amount appears.
Press Enter to return to the purchase voucher.
As always, press Ctrl+A to save the voucher.
You can use the tracking number of the purchase voucher in the receipt note.
The Voucher Type Alteration screen appears.
Set the option to Activate this Voucher Type to No.
Press Y to accept the screen. As always, press Ctrl+A to save the Voucher Type Alteration.
As a result of this change, the Receipt Note voucher types are deactivated, and the Tracking Number no longer appears in the transaction unless you are specifically reactivating it.
Similarly, you can disable the Tracking Number in the by deactivating the Delivery Note voucher type. As a result, the Tracking Number no longer appears in the transaction.
Open the Rejections Out voucher.
You can activate the Rejections Out voucher type if the voucher is inactive. Select Yes or press Y to proceed.
Provide the party details.
Under Ledger Account, select the party ledger to which you are returning the goods.
The party’s name appears under Supplier’s Name and Address with the address entered in the ledger master.
Provide the stock item details.
Select the stock item. In the Item Allocations screen, the same details appear if you had recorded a receipt note with a tracking number. You can select the relevant tracking number.
In the F12 configuration, enable the option Show Godown–wise Details to view the batch and godown details in the invoice.
As always, press Ctrl+A to save.
The stock will decrease to the extent of the quantity entered in the rejections out voucher.
Purchase Bills Pending report lists all instances of incomplete purchases where goods may have been received but not invoiced. It also lists instances of invoices raised but against which goods have not been received.
This report lists transactions of Goods Recd. but Bills not Recd.: and Bills Recd. but Goods not Recd.:.
You can view the pending and cleared bills in the Purchase Bills Pending report.
Press F12 (Configure) and set the options as needed.
To drill down to the voucher level, place the cursor on the voucher detail line and press Enter.
The Purchase Bills Pending report can be generated only when the option Tracking Numbers is set to Yes.
Prerequisite For Using Gst In Tallyprime (Composition)
GST Composition Scheme
Composition scheme under GST is a relief mechanism for small taxpayers as it offers comparatively lesser compliance activity, as well as a flat GST tax rate. As a Composite dealer, you can make payments and file taxes quarterly, instead of monthly. The tax rate varies from 1% to 5% on the total turnover and you cannot claim Input Tax Credit. There are several other eligibility criteria to opt for GST Composition Scheme, to learn more, refer to our blog.
Composition Scheme RulesComposition scheme under GST is different from the regular GST scheme and has its own set of rules and intimation for dealers. For instance, taxpayers supplying Exempt supplies, suppliers of services other than restaurant-related services, manufacturers of ice cream, pan masala, or tobacco, businesses that supply goods through an e-commerce operator, and so on, cannot opt for the Composition scheme under GST. Also, no Input Tax Credit can be claimed and no Inter-state supply of goods can be done by a Composite Dealer, to learn more refer to our blog.
Who is a Composite Dealer under GSTUnder the GST Composition scheme, the department has certain limitations and restrictions for a Composite Dealer. There are tax collection limitations, a specified GST rate and GST Returns period, and a GST invoice format that has to be followed and maintained by the dealer under the GST Composition scheme. As a Composite Dealer, one cannot interstate outward supplies of goods, cannot avail the credit of input tax paid on inward supplies, shall not issue a tax invoice, and shall only issue a BILL OF SUPPLY, and so on. To learn more about Composite Dealer under GST, refer to our blog.
GST Composition Scheme for ServicesSimilarly, to register as a Composite Dealer in the case of a services business, the required turnover is less than INR 50 Lakhs. However, under the GST composition scheme for services, only the supplier of restaurant-related services can be registered as a Composit Dealer. Service provided by restaurants by way of or as part of any service or in any other manner whatsoever of goods, being food or any other article for human consumption of any drink (other than alcoholic liquor for human consumption) is leviable at the rate of 5% percent (2.5% of CGST and 2.5% for SGST) under Composition scheme. To learn more about GST Composition Scheme for Services, refer to our blog.
Understand GST Rates for Composition SchemeSince the GST Composition scheme is for small taxpayers, the GST rates defined under this scheme differ from the regular GST scheme. For a Composite dealer, the tax rate varies from 1% to 5% on the total turnover and you can make payments and file taxes quarterly, instead of monthly. To learn more about GST Rates for Composition Scheme, refer to our blog.
How to Switch to Composition SchemeGST composition scheme is a scheme for payment of GST available to small taxpayers whose aggregate turnover in the preceding financial year did not cross the set limit of INR 1.5 Crores and INR 75 Lakhs in special category states. If you are a regular GST dealer, you can easily switch to the GST composition scheme by filing intimation forms with the government. This intimation must be given at the beginning of every Financial Year by a dealer wanting to opt for the Composition Scheme. Also, there are certain criteria to meet in terms of the stock held, available ITC, and so on for the transition from regular to composition. To learn more about Switch to Composition Scheme. refer to our blog.
Set Up TallyPrime for GST Composition
Purchases Under Composition GST
Sales Under Composition GST
GST CMP-08 Report
GSTR-4 Report
File GSTR-9A
GSTR-4 Annual Returns
How To Delete Data In Cakephp?
Definition of CakePHP Delete
Basically, CakePHP is a framework used to perform the delete is used to delete the records from the database identified by the $id. Normally the delete command is dependent on the record which means we can say that the relationship of the user is one-to-many or we can have belongs. We know that PHP is a scripting server-side language to make dynamic interactions between the different web pages. In another word, we can say that we can delete records from the MySQL database with the help of the CakePHP framework as per our requirement as well as it is easy to implement.
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Overview of CakePHP DeleteTo delete a record in the data set, we first need to get hold of a table utilizing the Table Registry class. We can bring the occasion out of the library utilizing the get() technique. The get() technique will take the name of the data set table as a contention. Presently, this new example is utilized to get a specific record that we need to delete.
The delete rules will be applied. Assuming the standards fall flat, erasure will be forestalled.
The Model.before delete occasion is set off. Assuming that this occasion is halted, the delete will be cut short and the occasion’s outcome will be returned.
The element will be deleted.
All reliant affiliations will be deleted. On the off chance that affiliations are being deleted as substances, extra occasions will be dispatched.
Any intersection table records for Belongs to Many affiliations will be eliminated.
The Model. after delete occasion will be set off.
How to delete data in CakePHP?Now let’s see how we can perform the delete in the CakePHP framework as follows.
To delete a record in the information base, we first need to keep a work area utilizing the TableRegistry superbness. we can get the occasion out of the library by utilizing the get() method. The get() approach will accept the call of the information base work area as an issue. Presently, this new occasion is utilized to get an interesting document that we need to delete.
Call the get() procedure with this new model and skirt the main key to view a report so as saved in each and every other example. Utilize the TableRegistry tastefulness guide to call the delete way to deal with delete records from a data set.
While erasing elements, related information can likewise be erased. In the event that your HasOne and has many affiliations are designed as reliant, erase tasks will ‘course’ to those substances also. Of course elements in related tables are eliminated utilizing CakeORMTable::deleteAll(). You can choose to have the ORM load-related elements and erase them independently by setting the cascadeCallbacks choice to valid. An example HasMany relationship with both these choices empowered would be:
Now let’s see the syntax as follows.
delete(integer $specified id of table= null, required boolean value$cascade = true);Explanation
By using the above syntax we can implement delete in CakePHP, here we use the delete command with different parameters as follows.
Specified Id of the table is a unique identifier of that table and it is an integer, initially, it is null as per our requirement we can change the value of Id.
Now let’s see how we can perform bulk delete in CakePHP as follows.
There might be times when erasing lines individually isn’t effective or helpful. In these cases, it is more efficient to utilize a mass erase to eliminate many lines without a moment’s delay. A mass erase will be thought of as effective in the event that at least 1 line is erased. The capacity returns the number of erased records as a whole number.
Now let’s see the syntax of bulk delete as follows.
function deletespam() { }Explanation
In the above syntax, we declared a function and inside the function, we called deleteAll method as shown. In this syntax, we need to set the Boolean value of the specified statement that we want and it depends on the user requirement.
ExamplesNow let’s see the different examples of delete operation for better understanding as follows.
First, we need to create a new table and put some records into the table as follows.
CREATE TABLE IF NOT EXISTS `sampledemo` ( `id` char(30) NOT NULL, `EmpName` varchar(250) DEFAULT NULL, `EmpPass` varchar(40) DEFAULT NULL, PRIMARY KEY (`id`) ) ENGINE=MyISAM DEFAULT CHARSET=latin1;Now insert records in the newly created table as follows.
INSERT INTO `sampledemo` (`id`, `EmpName`, `EmpPass`) VALUES ('3', 'Siya','$2y$10$HKLH3YiZE'), ('4', 'Rohan','$2y$10$bZcoCTW'), ('5', 'Tanya','$2y$10$SnGQV8O');Explanation
After Execution of the above query, we will get the following result as shown in the following screenshot as follows.
Now we need to make the changes in chúng tôi as shown below.
<?php use CakeHttpMiddlewareCsrfProtectionMiddleware; use CakeRoutingRouteDashedRoute; use CakeRoutingRouteBuilder; ])); }); Now we need to create a chúng tôi file and write the following code as follows. ?php namespace AppController; use AppControllerAppController; use CakeORMTableRegistry; use CakeDatasourceConnectionManager; class UsersController extends AppController{ public function sequence (){ $users = TableRegistry::get('users'); } public function delete($id){ $users_table = TableRegistry::get('users'); echo "deleted successfully."; } }Now we need to create a directory for the user and that file we call a ctp file either sequence or index as per our requirement we can change the name of the file and write the following code as follows.
<?php foreach ($Output as $row): endforeach;
Now run the script in localhost and see the output, here is the end result of the above implementation we illustrated by using a screenshot as follows.
Now suppose we need to delete the 3 number records, so we need to provide the id of that row and the after delete operation result as shown in the following screenshot.
Similarly, we can delete the 4th number row and we can see the result in the following screenshot as follows.
ConclusionWe hope from this article you learn more about the CakePHP delete. From the above article, we have taken in the essential idea of the CakePHP delete and we also see the representation and example of the CakePHP delete. From this article, we learned how and when we use the CakePHP delete.
Recommended ArticlesThis is a guide to CakePHP Delete. Here we discuss the definition, overview, How to delete data in CakePHP? examples with code implementation. You may also look at the following articles to learn more-
Mystory: How I Transitioned To Data Science After 6 Years In Data Warehousing?
Background
Prior to getting initiated to Data Science, I was working in data intensive Data-warehousing for more than 6 years. In 2013, I had an opportunity to work in a problem wherein we were required to build a model to predict the probability of a customer buying a product as part of transformation initiative. This has widened my horizon.
Until that time, I was under the impression that data can be used only for presenting or analyzing what had happened. I did some research on Analytics, Predictive Modelling and I realized that even though it is an extension of BI it requires different skill sets Ii.e. of Statistics, Machine Learning, SQL, and Business acumen in industry one is working.
Initial DaysI had good knowledge of SQL and bit of business acumen. I was determined to learn Statistics and Machine Learning. In 2014, I enrolled in online course by Edvancer. Edvancer has provided me solid foundation in Analytics using SAS and R.
I had plans to do MBA but could not pursue it full time as I could not leave my job. I did not want to do MBA through distance learning. Based on my search pattern google had recommended few Analytics program by reputed business schools. I had applied for IIM Bangalore and Great Lakes Institute of Management Chennai and was shortlisted from both of them.
I had opted for Great Lakes as IIM Bangalore conducts most of the classes on weekends and was not in a position to attend classes on Saturday. Moreover, recording of classes were not available in IIMB. I was not in Bangalore at that point of time hence attending classes over the web would mean missing on peer learnings.
Great Lakes and Analytics EdgeI underwent Great Lakes PGPBABI program during period 2014-2023. As I am not a MBA graduate, I was able to fill certain gaps in my career and got good exposure and solid foundation on Analytics.
After completion of PGPBABI program at Great Lakes, I did “Analytics Edge” program on edx (This tip was shared by Kunal. Thanks Kunal!). As part of Analytics Edge we were supposed to take part in Kaggle competition which is part of grading. I was able to finish in top 90 among 2932 contestants (Top 3%) which gave me great boost to my confidence.
Application of Whatever I learntNow the time has come to apply whatever I learned in my workplace. I have mentioned my interest to my boss who were happy to support me. Initial days were challenging as “In theory there is no difference between theory and practice, but in practice there is”.
To overcome this challenge, Analytics Vidhya (AV) and its community were lot of help. I used to get my queries clarified over the discuss portal. What was even more helpful was the hackathon conducted by AV regularly. I made it a point to not to miss any hackathon even when I was travelling.
Hackathon allows you to benchmark yourselves with others and get introduced to wider community and make friends. Like many others, I started at the bottom but slowly improved to finish within top 10 many times and within top 10% in a Kaggle competition.
For every hackathon, I try something new. Sometimes it works and sometimes I get my fingers burned by overfitting the public leaderboard. Each of my experience in hackathon is worth weight in Gold. Thomas Edison once remarked “I did not fail 1000 times but found out 1000 ways how not to make a bulb”. My experience is similar to this.
I am happy with my current ranking of being in top 10 in AV (at time of writing this article) but I am trying my best to improve my ranking. Still lot of distance to be traveled before reaching heights of @SRK or @Vopani or others in top chúng tôi will remain my inspiration to excel. By the time I reach that level I am sure they would be have doubled their level.
These are some of FAQ for people in their mid careers and would like to make a transition to Data Science. I have answered to the extent I know. Please feel free to correct me if wrong.
How difficult/easy is to transition?There is no single answer to this question. In fact, if one has enough data, one can run classification model to predict the probability of transition with the following variables (Some I can think of)
Chance of Internal transition (Y/N)
Previous experience in BI
Expertise in R
Expertise in Python
Expertise in SAS
Expertise in R and Python
Domain Knowledge
Strong Background in Marketing , Risk, Supply Chain, Finance etc…
Expertise in SQL
In depth understanding of statistical concepts
Passion in Data Science
Curiosity
Comfortable with numbers
Does one need to have all the above criteria to make a transition to Analytics? No, it depends on number of years of total experience (Relevant Analytics experience is assumed to be nil) as below (For MBA candidates strong background in Marketing, Risk, Supply Chain or Finance is assumed):
0 -1 years or Freshers: Passion in Data Science, Curiosity and Comfortable with numbers. Good to have expertise in SQL and in-depth understanding of statistical concepts.
1-2 years: Freshers + Expertise in either R or Python or SAS
2-5 years: 1-2 years+ In depth understanding of statistical concepts. Chances of transition is more if either chance of internal transition or previous experience in BI is applicable. Good to have knowledge of both R and Python or experience in SAS (Non data science).
5-10 years: 2-5 years + domain knowledge are applicable + knowledge of both R and Python or experience in SAS (Non data science). Chances of transition is more if either chance of internal transition or previous experience in BI is applicable. If one is Non MBA candidate it is good to have strong background in Marketing, Risk, Supply Chain or Finance.
What works and what does not?Internal transition is much better way of making transition. If one have more than 5 years of experience, having learn only data science course will not help. One need to substantiate his / her knowledge and learn to apply the knowledge acquired in his industry.
For those people who are having more than 10 years of experience, they should be capable of providing end to end solution i.e. Starting from finding a use case to executing it and presenting the ROI to the stakeholders.
What kind of Challenges can come during the transition?Losing patience, aversion to coding, lack of domain knowledge in the industry the candidate has worked etc…
One has to be patient and wait for opportunities and grab them when they present itself. I have seen persons who after few months, get demotivated and do not have the will to pursue data science careers. Obviously it depends on the passion component of the candidate also.
There are few people who get trained in GUI driven softwares like SAS Enterprise Miner or SPSS and not willing to train themselves in R or Python as they are averse to writing codes. They should overcome this aversion to stand better chance.
I have seen certain people especially people coming from software industry lack the domain knowledge required to provide end to end solution. They are comfortable with coding but do not have business acumen. This may be big handicap especially when your number of experience is more and relevant experience is less.
It is true that as number of non relevant experience increases chances of transition to data science diminishes but probability never becomes zero. Remember!
Being at the right place at the right time having right skills matter.
“Think like a CEO”. Do not restrict oneself to just model building. Get involved in all phases of Data Science right from problem definition to ROI justification.
How much time, effort and resources are required to make transition?During the first year or initial period, imagine yourselves training for Olympics. If one is working he has to put 2 hours of study in the morning and another 2 hours in the evening. Work with lot of data and be positive.
Accept failures as stepping stones for success. Time taken to transition would range anywhere from 6 months to 2 years or sometime more than 2 years.
How does industry view transitions?
Industry view favorably transitions of candidates having less than 5 years of total non data science experience. For others with more than five years of total experience but less relevant experience in data science, they consider data science skills as only as an add on.
SummaryData Science is not about new tools or technology. Some of the algorithms used in Data Science were conceived 30-40 years back. It is all about “Data to Decisions”. To be a good data scientist you need to have mixture of Coding skills, data management skills, modeling skills, business skills to succeed.
Do not confine yourselves to a tool or algorithm. There is nothing like good or bad tools or algorithm. Whatever works for the business to solve their problems and improve ROI are welcome. Transition for mid career people takes time and one should have patience and passion to make a successful transition.
Disclaimer: Our stories are published as narrated by the community members. They do not represent Analytics Vidhya’s view on any product / services / curriculum.
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