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How Is Tally Empowering Smes
Previously, I had written an article on how 80%Tally users use 20% Tally. In this article I have written how the decades old Tally.ERP 9 is empowering SMEs. Tally provides various features that help businesses to function smoothly. In this article I have listed a few most prominent and helpful features of the software. This is not an exhaustive list and there is much more to the software which you can explore yourself by getting the 7 day free trial of Tally.ERP 9.
Generally, a small business starts with a spreadsheet for accounting but with the increase in the business size, automation becomes a need as there are other important functions that need to be focused on. Tally.ERP 9 provides this helping hand for business to automate and maintaining all the data in a clear and ready to use format.
Tally has helped about more than a million SMEs to grow by providing them a source of systematic information and much more. Following are some major areas that Tally has helped.
Tally helps in Return filing
GST was introduced 2 years ago yet businesses are having a tough time trying to cope up with it. Tally is one of the few software which helps to simplify this process and provides an easier way for return filing. The software is updated from time to time in order to make it compliant with the prevailing GST rules.
Purchase and sales tracking
You can track your sales and purchase vouchers by properly numbering them. You do not have to manually track your orders. It hardly takes a minute to pass a voucher entry. Tally generates a consolidated report of these entries which can be viewed for any particular time period.
Generate E-way Bills
Often businesses have to transport and sell their goods to far away places. The government has asked to generate an e-way bill for these transports. Tally supports this function and generates the e-way bill. Thus making the life of a business person easier by providing a one-stop solution.
Decision making is a critical task for any business. Tally provides a consolidated report which is a summary of the whole business. Many reports are generated in just a few clicks such as the Profit & Loss Statement, Balance sheet, Cash flow/ fund flow report, Ratio Analysis report, etc.
All these reports are very useful in decision making.
Stock management is very important for businesses as wastage or ill management may cost a huge loss to the business. Especially if the stock is perishable. Tally provides complete tracking of inventory so you do not have to worry about your stock. You are also reminded about low stock levels and a notification is sent saying that the stock is insufficient.
Employee management may be difficult without a software. Their documents and details need to be maintained and updated from time to time. Tally.ERP 9 makes this possible by maintaining all details of the employees including their attendance, salaries, loans and other details.
Budget and Control
Tally provides options to maintain budgets and implement controls based on those budgets. The Budget can be maintained for different departments for different reasons. Variance can be checked and suitable measures can be taken to control these variances.
Bank reconciliation statement reconciles cash book and bank passbook. It shows if there is any difference between the two. This helps the user to correct changes if required. This keeps your cash book up-to-date.
Integration of Accounting and Inventory
Tally integrates the accounts as well, as inventory thus both, are updated if changes are made in any one of the two. If an inventory is sold as finished goods, sales entry is made in accounting and inventory is updated accordingly about the stock being sold.
Secure remote access
Tally can be accessed remotely. An owner can check his Tally from the comfort of his home by taking the remote access of his Tally. Tally provides free and secure access through its Tally.Net Server. The only condition for using this feature is a valid Tally.Net Subscription. A yearly fee is to be paid for validation of TSS. It is important to note that without updating TSS also you can continue using Tally software.
Tally allows for the sharing of data across various locations. It helps to get a consolidated picture of the financial health of the business. Data synchronization helps the businesses with multiple branches and a Head office. It usually has the Server and Client PC setup.
These are a few features of Tally.ERP 9 that support the functions of the SMEs. Other than these many other features of Tally.ERP 9, empower the SMEs. You can visit our website or get a 7 day trial of Tally.ERP 9 to understand better about the features of the software.
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