Tally is regarded as the most widely used accounting software. It provides comprehensive solutions for accounting, inventory and data integrity. Majority of the small and medium sized businesses use Tally for their day-to-day functions. Tally is easy to use and has been designed to simplify complex businesses activities. Tally is a complete accounting, inventory, taxation and payroll software.
Tally looks after all the financial transactions of a company. It keeps track of the receivables turnover, cash flow statement, activity consolidation and even branch accounting. Earlier, these tasks would be done manually by chartered accountants with the use of MS Excel sheets. Excel has some formula groups and nested functions which are really helpful in solving major financial calculations. The tally erp 9 integration comes with different feature. This integration utility can be used for transferring data from Excel to Tally seamlessly. The manual accounting tasks can now be done automatically with Tally. With this, users can easily import large number of masters and transactions to Tally with a single click.
Tally is driven by a technology called concurrent multi-lingual accelerated technology engine. It is robust and powerful, operates at high speeds, executes in real time and has full-proof online help. Tally can be customized for different businesses. It helps in accounting solutions, financial and inventory management, sales and purchase management, invoicing, reporting and MIS.
The key features of Tally software are:
Data entry
Business organizations can use a single Tally account to look after multiple office locations. So when a new data is entered into the Tally platform, it gets updated across all locations. A business which operates through various departments, a Tally platform eliminates the need to update the same data manually in all departments. For example, if a new stock item is entered into the inventory, it will get updated across all distribution channels. There is no need to manually move data from one department to another department. Since Tally has online support, users can access the data from a centralized server. This saves time and increases productivity.
Accounting solutions
Tally performs the function of financial analysis and financial management for an organization. It helps in maintaining simple classification of accounts, general ledger, accounts receivable and payable, bank reconciliation, etc. There is no need to do manual accounting and financial calculations. By using the Excel to Tally Import Utility feature, companies can easily transfer their account statements from Excel to Tally. Companies can keep track of all the financial transactions automatically. Tally keeps the company’s account books clean and error free.
Inventory managementÂ
Additionally to providing accounting solutions, an important function of Tally is stock keeping and inventory management. With Tally, users can manage their stock items, categories, invoices, and even obtain reports on consumption. When making a new entry, users categorize it under stock groups, stock sub groups, and different product stock categories. Users can also store a stock item under a particular go down. This enables sales managers to choose the particular godown from which stocks need to be utilized. Tally also allows inventory to be maintained batch wise, making the monitoring of expiry dates for each batch easier.
User friendly
Tally is a simple software and can be operated easily. With minimal training, any individual can carry out daily business functions in Tally with ease. For a business organization, this can lead to increase in productivity. The Tally dashboard is also quite easy to navigate. The module and forms can be viewed through drill down display. Users can track the link between different modules easily.
Data security
The Tally software includes many security features. Even if your machine crashes, the data stored on a Tally server will remain safe and not affected. There are quality data checks run at periodic levels to ensure complete data reliability. Organizations can also customize their Tally software to give special security access to specific users. These users can see all new entries made and also make changes if required.
Customization available
Tally offers customization for different business industries. The software can also be integrated with ecommerce business ventures. All aspects of an organization, right from granular levels to specialized features, can be customized. This helps to achieve a higher efficiency.
