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Tally

TALLY

TALLY

Tally is a complete Enterprise Resource Planning system with a excellent grip in accounting features. Although it has many more core features that a business requires but its hold in accounting is truly commendable. Therefore it is known more for accounting rather than any other of its features.

Tally.ERP 9

Tally.ERP 9 – the latest evolution of the Tally series-took 3 years and the dedicated efforts of 200 developers to create. It has grown from a basic accounting package into a simple-yet- sophisticated business management software product. Comprehensive capabilities allow Tally.ERP 9 to meet the needs of small to large businesses with dispersed operations. And traditional functions of a business are handled as capably as the more advanced.

If we have to mention a single software for a business need even if the business is just starting out, Tally is the one which we would recommend.

The reason for this recommendation is because Tally does all the things that a business at a time of starting up requires.

For example, if you are starting out a general store, what would you require?

  • Accounting
  • Billing
  • Sales and profit analysis
  • Banking
  • Inventory
  • Taxation (VAT, TDS, TCS)

There are more functions than this like Audit, Payroll, Manufacturing and so on which if needed can be used.

This was just an example of a general store and almost any business which requires a software for its functioning, Tally can be a best fit.

This was Tally and it can do much more.

GST (TALLY FOR GST)

Tally is the first software which comes in everyone’s mind to handle compliances without any complication, it’s a user friendly accounting software which helps to maintain the sales, inventory, statutory and many more reports at single place.

To know more, click here http://blogs.tallysolutions.com/supply-determine-goods-services/?utm_source=website_home

Accounting

Of course, accounting is the main function of Tally and that is what it is known for. The first word that comes in the mind of a person when hearing about Tally is accounting.

Accounting is a basic function of Tally and most people do not ever use any other functions other than accounting in Tally. At the most they will use Inventory management and some of the Taxation features.

Because many people do not exactly know how to use those features..

If we particularly talk about accounting, Tally has segmented it in 6 different functions. They are:

  • Contra (Only for cash and bank related entries)
  • Payment (For payment entries)
  • Receipt (For receipt entries)
  • Journal (For entries which doesn’t include cash or bank and for closing entries)
  • Sales (For sales billing)
  • Purchases (For purchase billing)

There are many more functions related to accounting like Credit Note, Debit Note, Reverse Journal, Memos and so on which aid in performing accounting procedures in an easy manner.

Billing

Billing is an inevitable part of any business and it’s care is duly taken by Tally. Actually billing is included in Accounting feature discussed above but it has somewhat a separate function rather than accounting.

The best thing in Tally is that when you create a billing entry you do not have to create again accounting entry for that bill. This reduces redundancy in entering a big amount of data.

Inventory

As billing is an inevitable part of a business and so is the inventory. Effective inventory management can save huge amount of costs especially if you are functioning in a manufacturing environment.

In Tally you can classify inventories on the basis ofgroups, units, tariff (applicable for goods on which VAT is levied), different stock items, godowns in which they are located.

Banking

In this era of digitization, without banking no business can survive. Banking functionality is very well covered by Tally. Though it was not present in earlier versions of Tally but is there in Tally.ERP 9.

You can directly print cheques, maintain cheque register, create deposit slips and payment advice in Tally.ERP 9.

Most important function in Banking is Bank Reconciliation. BRS will eliminate the tedious task of reconciling the bank statements with the books of accounts. As per my opinion this will save a lot of valuable time.

Taxation

A business cannot operate in isolation. It needs a society to operate which is governed by a government which levies different types of taxes on a business as it is a commercial activity.

Well, Taxation is also covered by Tally. Right fromIncome Tax, VAT, Excise, Customs and Service Tax everything is taken care of by Tally.

If you are covered under Audit as per Income Tax Act, 1961 then there are different functions for that also such as Form 3CD, Form 3CA, 44AB Audit, Form 3CB and so on.

If you have taxation functions enabled then billing is done including taxes on the sales or purchases.

At the end of the year or a particular accounting period tax credit or tax payable automatically gets calculated by Tally.

Reporting

Different types of reports are required at different times for making effective business decisions. In Tally there are reports such as Statutory Reports, Payroll Reports, Job Work In and Out Reports and the most significant Exception Reports.

Reports are not limited to just reports in Tally. In fact at every screen in Tally, you can print it or export it and that can also be called a report according to my opinion.

For example, if you are in Sales Register then you can print that which can also be called an essential piece of information in the form of report.

Tally Developer

The language used to build Tally.ERP 9 is called TDL - Tally Definition Language, briefly touched upon in Internal Architecture & Design.

As a Tally Service Partner, a Tally Integrator, an internal IT 'shop' at a customer location or a free lancer developing extensions to Tally.ERP 9, we make available Tally.Developer 9, an Integrated Development Environment (IDE) along with the full TDL source code.

Shoper 9

When it comes to retail/point-of- sale (POS) business management, there's very little choice beyond Shoper 9. A culmination of intensive R&D, this mature, ready-to- go product which incorporates the smartest ideas, provides quick implementation and intuitive usage. A host of retail verticals rely on Shoper 9. It can scale and will provide 'information-at- the-fingertips' to managers of chain stores. The affordable Shoper 9-the latest product from Tally-can be adapted to meet unique requirements and will save time, increase accuracy and provide real time reports.