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Tally ERP - Simple & Powerful

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Tally.ERP 9

Tally.ERP 9 is one of the most popular integrated accounting software that helps many businesses to keep proper accounting records at affordable investment in the software. It is a complete business management software, that helps to manage manufacturing, inventory, projects, accounting, payroll, banking, etc and provide timely accurate information to the users of the financial information. Customisation of Tally according to the requirements of business is easy and economical that attracts many businessmen who lost by investing major amount in developing own customised accounting software.

Unlike any other software available in the market or own customized software, tally have integrated all the accounting needs in the software that helps users to enable and use the required features with single click. The module based software in the market costs the business when they require any additional features in the software. Many businessmen had faced problem when the VAT was first introduced in the country, due to incapability of the other software to adapt required changes in those software and huge costs for adding VAT features in those software. Adding VAT features in those software costs even 10 times the costs of Tally that lead businessmen unhappy with those software developers.

Major Features of Tally apart from normal accounting features in other Software are:-

1. Keeping of books of accounts of many companies of an owner

Tally enables to create as many companies as required in the software and keep individual accounting records without affecting financial information of other companies.

2. Detailed analysis reports

Tally by default provides many analysis reports in the software and have the comfort changing the view of each report with required relevant information, such as monthly analysis of balance sheet, profit and loss account, etc and monthly break of ledgers, etc.

3. Drill down facility and ease of use

A person with minimum knowledge of accounting is able to use the Tally Software and it is easy to learn. Drill down facility in the Tally enables the users to view the transactions by drilling down from accounts to accounts and also enables to do the required modifications without going back to voucher entry screen.

4. Easy of keeping one personal account for purchase and sales transactions

Unlike other major software and own customised software, Tally enables user to create transactions with different voucher types against one particular personal account. Like for entering purchase and sales against a particular personal account, there is no requirement of having separate accounts created under Customers and Suppliers Masters in Tally.

5. Regular updates according to the statutory requirement with no additional costs

Tally helps users by providing regular updates in the software according to the change in legal requirements without any additional costs. Own customised software may require additional costs to adapt the changes according to the changing requirements

6. Remote access and online report view with the comfort of data security

Tally provides the facility of booking keeping at remote locations through Tally.net service and also has the facility of synchronisation of transactions entered in the Tally software located at remote locations. The latest feature in the Tally helps the users of financial information to access the reports through web browser with the comfort of data secured at user’s place of business. The web browser access helps the management to access and download required statements and reports and do the analysis through browser at any part of the world without fear of data security, being saving the information in the cloud.

7. Infinite scope of customisation

Tally has the facility of customisation according to the user’s requirements without affecting original features of the software with minimal cost. There are many freelancers who provide customisation that helps the users to do the required customisation in Tally with nominal costs.

8. Consolidated Statements of Group of Companies

Tally has the inbuilt feature of Grouping of different individual company data without affecting the individual status of each data. This enables the Owners of the Group of Companies to get the combined financial information in one click without any effort of taking the individual company information and adding each company information line by line. With this feature the users can add as many companies as required in the Group and get the reports like, Balance Sheet, Profit and Loss Account, etc without any lapse of time.

9. Auditing and Compliance Feature in Tally

The auditing feature in Tally enables to do the verifications of transactions entered, altered, cancelled, deleted and modified in the software and keep remarks of audit checking in the software. Also helps to do the analytical procedures in Tally.

Article by:

Abdushukoor,

Asst. Manager, Alchemist Accounting