Are you using Tally to its Complete Potential?

Are you using Tally to its Complete Potential?

Tally or popularly known as ‘Tally Accounting Software’, powered by C. MuLate, i.e. Concurrent Multi-Lingual Accelerated Technology Engine is a code-less software that has grown as a primary functional tool for account and inventory management for almost each mid to large size business today. The software owing to its unbound functionality over statutory, inventory, accounting and data synchronization process, and dynamic support for day-to-day business processes has become a need for every business in India and grown to over 9 Lakh businesses worldwide.

Confused for ‘accounting software’, well-implemented Tally solutions offer complete Enterprise Resource Planning (ERP) support and can enhance your business management productivity overnight. Thus is the question- ‘Are you using Tally to its Complete Potential?’

Helping you find an answer to the above question we will guide you through some impressive features of Tally, thus giving you a hint of the potential it carries for your business.

Impressive Features of Tally according to the latest updates-

Accounting:

Tally solutions have become synonymous to ‘accounting’ owing to the wide support for account management processes by Tally. Accounting in Tally is channelized in 6 main streams, which are –

Contra – It includes entries related to cash management and bank transfers.

Payments – It includes the payment entries.

Receipt – As indicated by the name, it includes the various receipt entries.

Journal – It refers to the entries not related to cash payments and other bank entries.

Sales – The entries related to sales billing etc are included here.

Purchase – The entries related to the various purchase billings are included here.

Other than these 6 streams there are other time-saving entries like credit and debit note and reverse Journal, etc.

Billing:

A well-customized Tally solutions offer great billing feature, thus making the process time saving and accurate. Tally shows great support for the billing feature as in Tally, while creating a new bill entry you are not required to create the accounting entry again for the bill. Thus, highlighting data synchronization capabilities of Tally.

  Payroll Management:

A well-chosen Tally solution company can guide you through the potential benefits of the payroll feature of Tally. If you have an extensive employee team, Tally offers functions like - Employee Groups, Employee Categories, Employee Attendance, Payments, and Employees. So by using the payroll feature you can effectively manage the payrolls each month by saving time and increasing productivity.

Inventory Management:

A good Tally solution company can guide you through various inventory management benefits of Tally. In a large manufacturing unit, you can save a good amount on inventory management through Tally by diving inventory in the form of groups, tariffs and stock items, etc.

Banking:

With the introduction of Banking feature in Tally ERP 9, you can directly maintain cheque entries, deposit slips and payment advice. With this, the important function of Bank Reconciliation is also added.

Taxation:

The important function of Taxation that includes the calculation of Income Tax, Service Tax, VAT and Excise Duty can be done with the Tally solutions to save the complexity and time.

Report Creation:

A suitable Tally solution company can also help you with the business analysis solution through the report creation process in Tally. Tally offers support for various business specific reports like Payroll Report, Exception Report, Statutory Report and Employee Report, etc. With this, you can also use the Ratio Analysis feature of Tally

Thus, with the above features of Tally, you can enhance your business productivity and gain high ROI graphs. With this, to avail optimized Tally Solutions in Jaipur or overseas, contact us  – [email protected]

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