Tally is a widely embraced software solution for efficiently managing business and accounting tasks among small and medium-sized enterprises globally. This robust platform offers a comprehensive array of features designed to assist businesses in overseeing crucial functions, including financial management, inventory control, taxation, and compliance, addressing diverse business requirements. This blog will look at What is Tally and Its Features. Tally Training in Coimbatore is designed to equip individuals and businesses with the skills and knowledge needed to effectively utilise Tally software for their accounting and financial management requirements.
Tally ERP 9 is the multiple recent version, while Tally Prime is the cloud counterpart. Tally Prime includes financial accounting, inventory management, tax, compliance, company intelligence, customization, and collaboration. Tally ERP 9 and Tally Prime have features in common. On the other hand, Tally Prime is meant to be user-friendly and simple, as you can learn through the Tally course, making it easier for small businesses to handle their accounting and compliance tasks without requiring specific training or technical experience.
Features of Tally
Many organizations like Tally because it is well-known for being user-friendly, dependable, and affordable. The accounting, financial, and inventory management capabilities belong to Tally. The program also provides various features aimed at helping businesses streamline their processes and enhance efficiency.
Here are the critical Tally features you should be aware of:
Accounting
The accounting feature of Tally ERP 9 is one of the most significant elements of Tally software. Users can use the software to produce and maintain financial records such as ledgers, vouchers, and diaries. It helps keep track of stock levels, expenses, and income. Tally’s accounting component allows you to reorder points and generate invoices and reports. Tally Course In Madurai recognizes the importance of equipping its students with practical skills and Knowledge in the field of accounting and finance.
Tally’s accounting tools enable users to generate financial reports such as gain and loss statements, balance sheets, and trial balances. It supports several currencies, allowing organizations to handle funds in multiple currencies or conduct international transactions. Furthermore, the software allows users to enter multiple currencies and convert them based on the current exchange rate.
Financial Management
Tally’s financial management function aims to give organisations tools to manage their financial activities and make informed financial decisions. Monitoring bank accounts, reconciling transactions, and generating financial reports are all features.
Tax and Compliance
The Tally offers tax management capabilities such as calculating tax liabilities and creating tax reports. This function helps businesses in ensuring tax compliance and avoiding costly penalties. Tally Course In Hyderabad offers in-depth Knowledge of tally, covering the fundamentals of advanced accounting principles and practices.
Users can set up and apply various tax rates to transactions using the software. Users can also generate tax reports and compliance papers, such as GST returns, with it. These features assist companies in keeping to their respective country’s tax rules and regulations.
Sales and Purchase Management
Tally allows organizations to efficiently handle sales and buy operations by creating invoices, recording payments, and managing outstanding balances. It also supports different pricing levels and allows you to define discounts.
Point of Sale (POS)
Tally software includes a POS system that allows businesses to handle transactions, track sales, and manage customer orders.
Payroll Management
Tally’s payroll management tool allows users to create employee records and track their attendance, leave, and salary. It lets users generate payroll reports and compliance documents such as paycheck slips and tax returns. This enables businesses to manage their payroll procedures more efficiently while complying with their country’s labour laws and regulations. Tally Course in Pondicherry ensures students to understand the importance of inventory management in businesses.