Understanding Tally ERP 9: A Comprehensive Accounting Software Solution
Tally ERP 9 is a powerful ERP accounting software widely used in India for small and medium enterprises. It simplifies day-to-day business functions by offering features for accounting, inventory management, taxation, payroll, and more. With Tally, businesses can enhance their financial and inventory controls, manage sales and purchases efficiently, and generate detailed reports and MIS. Its user-friendly interface, cost-effectiveness, and time-saving capabilities make it a preferred choice for businesses looking for accuracy and efficiency in their operations.
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COMPUTER APPLICATION- TALLY PRESENTED BY:- DR. PARIMITA SINGH FACULTY, S.S IN COMMERCE,V.U,UJJAIN
WHAT IS TALLY 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.
Tally ERP 9 Software 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 customizability. ERP 9is the best accounting software. This software can integrate with other business applications like Inventory, Finance, Sales, Payroll, Purchasing, etc.
Tally software is used for storing all the business transactions of each account in detail. Tally has made calculations simple. Tally has become part of all businesses. Small scale enterprises believe that Tally software carries out efficient business transactions, provides accuracy, and saves a lot of time. Manual calculations are time-consuming; that's why all the organizations use Tally.
Because of Tally, the chances of error are reduced to a great extent. The Tally software can learn at home or designated institutes. It is self-explanatory and easy to learn. Tally is cost-effective and time-saving. It also ensures accuracy in business management. It enables the digitalization of bills and signatures, thus staying up-to-date with the latest technology. Using the Tally ERP 9 Training, the owner of a small shop can also manage his store, keep records of customer bills, and manage financial transactions efficiently.
USES OF TALLY IN A BUSINESS 1. Tally is powerful accounting software driven by a technology called concurrent multi-lingual accelerated technology engine. The software is commonly used in many small and medium sized companies, especially popular in the Indian market. Tally provides comprehensive solutions around accounting principles, inventory and data integrity. It has been designed to simplify day to day business functions. Tally integration can help a business with accounting solutions, financial and inventory management, sales and purchase management, invoicing, reporting and MIS. Tally is a complete accounting, inventory, taxation and payroll software.
2. updates in the market providing improved features. The latest version available is the Tally ERP 9 software. With Tally ERP 9 integration, users get access to added features like Tally data synchronization, Excel to Tally Import Utility, post-dated cheque management, GST compatibility, and many more. Tally is robust and powerful, operates at high speeds, executes in real time and has full-proof online help. It is highly versatile and flexible, and can be customized as per different business needs. The main function of Tally is to perform the 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. It provides information around receivables turnover, cash flow statement, activity consolidation and even branch accounting. With Tally integration, a business can store all their company data securely into a Tally server. Regular data integrity checks are made to ensure that no external modifications to the data can be made.
3. Certain business organizations use a single Tally account for all their multiple office locations. With the help of Tally ERP 9 integration, data entered in one location can be updated across all locations. This feature is called as Tally data synchronization. Users can create, modify and delete data from all locations. Tally can make data management easier for a business.
Over the years, Tally has undergone a revolution that led it to discover different versions of Tally initially, Tally has a single version which by meantime replicated into different versions. Let us have a look at those different versions of Tally.
Tally 3.0 (1990) Tally 3.0 is the first version of Tally that has been used for basic accounting needs of small businesses. But, the software needs external and special commands to perform the operation. And, it supports only Microsoft DOS.
Tally 3.12 (1991) Tally 3.12 is similar to the before version i.e. Tally 3.0. Here, few features have been updated. Still, it resembles the operation done as like Tally 3.0
Tally 4 (1992) Tally 4 is the next version of Tally came up in the year 1992. As like Tally 3.0 and Tally 3.12, it also supports Microsoft DOS and differs slightly from that of the rest two versions.
Tally 4.5 (1994) Tally 4.5 is a DOS-based program. DOS program is very lightweight and hence the operation will be completed quickly.
Tally 5.4 (1996) Followed by Tally 4.5, Tally 5.4 is the next version of Tally. It is a graphic interface version that became popular in masses. Within a short period, its pirated version has made Tally as the best accounting software.
Tally 6.3 (2001) Tally 6.3 is the next Tally version that supports Windows operating system. It is the true windows based version thereby supporting printing and VAT. In addition, Tally 6.3 has been built with watertight security that made the software hard to crack.
Tally 7.2 (2005) Tally 7.2 is the version that came up with new additional features. It is the fastest version where operations are completed faster than before. Additional features including statutory compliant features, different VAT values, etc made it more unique than usual versions.
Tally 8.1 (2006) Tally 8.1 is the version that adds new data structure to the Tally. It adds the module of POS and payroll feature in this version. The version was not welcomed by people as expected. Hence, Tally team has moved forward to launch another version.
Tally 9 (2006) Tally 9 is the next version of Tally with 9 added features. The features of Tally 9 includes excise, payroll, e- TDS filing facility, FBT, TDS, and other regular features related to accounting and inventory management.
Tally ERP 9 (2009) Tally ERP 9 is the latest version of Tally since 2009. It has lingual many business organizations. It has advanced features including GST calculations, invoice and payroll procedures, remote access, multi-user login, and transaction procedures. Nowadays, businessmen wish to have a complete business solution software like Tally.
Tally 18 Many Tally users have been waiting for its recent updated version Tally 18. Several features of Tally ERP 9 has been updated and tuned as per user convenience. These are the different Tally versions that ruled over the accounting realm for years.
REFERENCE: REFERENCE:- - www.tutorialspoint.com www.tutorialspoint.com www.managementstudyguide.com www.managementstudyguide.com www.slideshare.net www.slideshare.net www.toppr.com www.toppr.com
