ACCOUNTING SOFTWARE
Accounting Software is the software that records and processes the accounting transactions and provides the users with the reports of accounting as and when required for quick decision making. Accounting software records and processes all the monetary transactions as per formal accounting processes such as journal, ledger, trial balance, profit and loss account and balance sheet. The software can also provide the special reports like account payables, account receivables, inventory report, profit earned inventory wise, inventory ageing reports, ratio analysis etc. These reports can help in taking major decisions like change in credit policy, change the supplier of the goods, type of inventory needs to discontinue, accept or reject new order from exiting customer etc. some software provides readymade modules which generate reports which can help the owner to grow the business with accurate decision making.
INSIGHT TO TALLY ERP 9
A Company which supplied raw material and machine parts to textiles mills in India was run by an Industrialist Shyam Sunder Goenka. He was facing difficulty in managing their finances and accounts and wanted to opt accounting software to manage their business but he was unable to find any software that could manage his large scale business effectively. Then he asked his son, Bharat Goenka who was a maths graduate to create accounting software that can handle the accounts of his business.
| YEAR | APPLICATION |
| 1986 | MS – DOS application named as Peutronics Financial Accounting with basic accounting functions |
| 1988 | The product was renamed as Tally |
| 1997 | The first Windows based version Tally 5.4 was released. |
| 1999 | The company formally changed its name to Tally Solutions |
| 2001 | Tally 6.3 launched (Educational/ Licence version) |
| 2005 | Tally 7.2 was launched with features designed to meet Indian value-added taxation (VAT) requirements |
| 2006 | Tally launched Tally 8.1, a concurrent multi-lingual version, and also Tally 9 |
| 2009 | the company released Tally.ERP 9, a business management solution |
| 2015 | the company launched a program called Vriddhi to certify and classify its business partners |
| 2015 | Tally Solutions announced the launch of Tally.ERP 9 Release 5.0 with taxation and compliance features. |
| 2016 | the company had 1 million customers |
| 2017 | the company launched its updated GST compliance software |
| 2018 | Tally Solutions announced the launch of Tally.Erp 9 Release 6 |
ADVANTAGES OF TALLY ERP 9
Tally Software is the software which has enormous advantages as it performs various tasks effectively.
Real Time Data Movements
Real time data movements refers that when the data is entered in the Tally Software, it is directly updated on the main server and every one can view the updated files or entries on their software terminal without needing the data transfer from one department to another.
Work With Great Speed and Reliability
Tally Software runs very fast and records the transaction and reflect it in the report in no time. The study has been done which shows that Tally can even run on a low configured system effectively and more than 70% of the small businesses are using Tally which again proves that the software works with high quality and speed and reliability
Provides Complete Business Support
Tally software provides complete business support to the users in managing the business organizations. The dynamic reports which are generated by this software give the user a detailed and clear view of all the aspects of the business. Tally software has a user friendly interface which helps the user to arrive at the reports without having technical knowledge and expertise in accounting.
Can Manage Accounting, Inventory & Compliance in Tally
Tally is not just accounting software as it does much more than that as it manages inventory, provides important information to the management for decision making through reports, provide the module for taxation compliance that is GST and the obligation of filling returns.
Tally.ERP 9 Is Government Approved GST Ready Software
Tally ERP 9 is government approved software for filling GST returns. Tally generates statutory reports as and when transactions are entered in the software. The various GST invoices ie Input GST and Output GST are entered easily and input tax credit is calculated and statutory reports are computed. The user can file these statutory reports or print these for future reference.
Tally Is Simple To Use & Easy To Learn
Tally software is very easy to learn and use. Even if the user has the basic knowledge of accounting, he will not face any problem in its application. Moreover there are many shortcut keys in Tally which help the user to navigate and complete the transaction easily.
Remote Access
To be able to access the software remotely is the best benefit of tally erp 9. The user can get this advantage without doing any effort as the software works seamlessly. Multiple users can login from various location and create different entries without facing any problem.
Tally Has An Admin User Interface.
Tally software also provides the admin dashboard where the admin can assign his employees the unique username and also control their access to business data that can allow user to see and perform the functions which is allowed to him. This interface enhances the security of the business financial information and prevents its misuse.