Tally.erp 9 - A Turning Point For Your Business

By Author: Riyaz Tamboli
Total Articles: 14
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Decision making is a vital process for every business organization. Delayed or wrong decisions can cost you loss of your valuable resources. Every business aims to reduce its costs and expenditures and maximize its profits.

So how can we take timely and right decisions? Right Decisions highly depend upon the data provided on the basis of which decisions are made. In order to take vital strategic decisions regarding expansion, cost cutting, etc. businesses need to check their inward and outward cash flow, their Profit and loss reports, balance sheets and many other reports.

Generating all these reports manually takes a lot of effort and time which may further delay the decision-making process. A one-stop solution for all your business related strategic decisions, accounting needs, Employee database management, Inventory management, GST Return filing, etc. is Tally.ERP 9. It will not only help in decision making but will also help in the management of your entire business.

Let's check out the various functionalities of the software..

Accounting management
Earlier before Tally ERP ...
... 9 version of the tally was introduced Tally was used as an accounting software. Even though today it has various other features, still it is a perfect software for accounting. All accounting features are available in Tally such as different types of voucher such as purchase voucher, payment voucher, receipt, debit note voucher, credit note voucher, etc. Also, it has summary reports such as the purchase register, sales register which provide the entire summary of purchases and sales done by the company respectively.

GST Return filing
Today every business having a registered GSTN number irrespective of its line of business has to file GST returns in the manner as suggested in the GST act. Failing to do so will lead to a penalty which will be paid by the business. Tally is one software which assists in filing returns. It makes Tally a complete accounting package as GST return filing can also be done through Tally.

E-way bill generation
E-way bill is an electronically generated document which is required for the movement of goods valuing more than INR 50,000 from one place to another. Tally can help you generate e-way bills by filling in the required details exporting a JSON file and uploading the same in the e-way bill portal. After which the e-way bill is generated.

Bank Reconciliation
Bank reconciliation is a process in which the cash book and the passbook (bank statement) of the company are reconciled and if there are any mismatches, it shows. This feature helps to find out if there are any mismatches directly in Tally and hence saves a lot of time of the user.

Payroll management
Payroll management in Tally ERP 9 has features that help to auto-calculate the salaries of employees after the deduction of various components. It helps in production or attendance or time-based remuneration units which are user-defined production units. It also provides the features to group the employee masters into categories as required by the user. This over a period of time increases the efficiency and saves the cost of the organization.

Inventory management
Inventory management is the stock management of the business. Important decisions such as whether to restock materials or when to start producing or what price to sell at all depend on how much inventory is available and what the demand is in the market. Using the inventory feature of Tally.ERP 9 you can keep a track of the materials(raw materials, work in progress, finished goods). This will help in the decision-making process regarding the stock of the company.

These functionalities in Tally will help both Small and medium enterprises in carrying out various processes in Tally itself thus saving the extra costs. A single person can do multiple tasks and costs can be saved.