Tally ERP 9 Auditors Edition Introduction, Features, Characteristics

Tally is an ERP accounting software package that is used to record day to day business data of a company. The latest version of Tally is Tally ERP 9.

It is one of the most financial accounting systems used in India. For small and medium enterprises, it is complete enterprise software. It is a GST software with an ideal combination of function, control, and inbuilt customisability. It is the best accounting software. This software can integrate with other business applications like Inventory, Finance, Sales, Payroll, Purchasing, etc.

Features of Tally

• Tally is also called multi-lingual tally software because Tally ERP 9 supports multi-languages. In Tally, accounts can be maintained in one language, and reports can be viewed in other languages.
• Tally is largely considered the best because it is easy to use, has no codes, robust and powerful, executes in real-time, operates at high speed, and has full-proof online help.
• Using the Tally, you can create and maintain the accounts up to 99,999 companies.
• Tally has the synchronization feature, so the transaction which is maintained in multiple locations offices can be updated automatically.
• Tally is used to generate consolidated financial statements as per the requirements of the company.
• Using the feature of payroll, you can automate the employee records management.
• Tally can manage single or multiple groups.
• The feature of Tally customization makes the software suitable for distinctive business functions.
• Tally software is used to handle financial and inventory management, invoicing, sales and purchase management, reporting, and MIS.

Characteristics:

Separate Tracking:

This software helps to track the trading and non-trading accounts. It helps users to get the receipts, new bills and payments without any hassles.

Interest Calculation:

Tally software has a different transaction method that helps to customize the transaction process. The user can get a detailed report, after the transaction completion. The final report helps to get the balance amount that ought to receive.

Audit, Control and Budgeting:

Tally audit enables the user to have unlimited budgets and periods. With this support, a user can correct mistakes easily. A user can gain robust access control with high security.

Voucher Entry:

Using this software helps to identify the various business transaction details. Tally Classes in Chennai makes you more comfortable in accounting, use this opportunity and get a job in this field.

Billing details:

Tally accounting software enables users to handle billing information. It helps to allocate the payments regarding overdue and invoices. This helps to split the customers easily using billing data.

Interesting in Ledgers:

This software inculcates the multiple ledgers including Purchase Ledger, General Ledger and Sales Ledger. This ledger helps to create records and enter data simultaneously.

Advantages of Tally

Payroll management: Several calculations that need to be made while disbursing salary to employees. Tally is used to maintain the financial record of the company that includes net deduction, net payment, bonuses, and taxes.

Data reliability and security: In Tally, the entered data is reliable and secure. There is no scope of entering the data, after being entered into the software.

Management in the banking sector: Banks use Tally to manage various user accounts, and also calculate interests on deposits. Tally support ensures ease in the calculation and makes banking simpler. Tally Support can make the calculation easy and banking simpler.

Ease of maintaining a budget: Tally is used to maintain the budget. Tally is used to help the companies to work and manage expenses by keeping in mind the total budget which is being allotted.

Regulation of data across geographical locations: Tally software is used to manage the data of an organization globally. Tally can bring together all branches of the company and makes the common calculation for it at large. So no matter which location a company’s employee has access, it will be uniform throughout.

Simple tax returns filing: Tax GST is used to ensure that the company complies with all GST norms. Tax GST takes care of service tax returns, excise tax, VAT filing, TDS return, and profit and loss statement for all small businesses.

Remote Access of Data: In Tally, employees can access the financial data using the unique User ID and password. The logging and access of data can be done by sitting at the comforts of one’s office or house.

Audit tool for compliance: It acts as an audit tool. It is used to carry out regular audits of companies. It does a thorough compliance check towards the financial year beginning and ensures that all the monetary transactions are smoothly being carried out.

Quick Access to Documents: Tally can save all invoices, receipts, bills, vouchers in its archive folder. Using the Tally, we can quickly access any of the previously stored documents. We can immediately retrieve all the billing related files.