TALLY

Introduction

            Now – a – days many accounting package softwares are available to the user in market. Tally, ExNGN, Wings, Focus etc., is the popular accounting software packages. Tally is one of the easiest and user friendly accounting software.

            Actually the word Tally means ‘Balance’. It is mostly used in the field of Financial Accounting. It almost fulfilled all the requirements which are needed for completing financial accounting. It also facilitates the various kinds of accounting solutions in a simplified format for each solution.

            Tally is MS-DOS as well as MS-Windows based software. It is multi user software also which provides way to use multi users at the same time with the software. It also provides security to the users. It means it provides user name and password to each user.

            Tally is the software which allows the user to work with all kinds of Taxes i.e., ST (Service Tax), CST (Central Sales Tax), VAT (Value Added Tax), TDS (Tax Deducted at Source), FBT (Fringe Benefit Tax), PT (Professional Tax), etc.,

VERSIONS:

Tally 4.5: It is the first version of Tally. It was used to work with MS-DOS operating system. It is used to create accounts information only.

Tally 5.0: It has been working with Windows operating system and it is the first windows based software. It is used to create accounts information along with inventory information and Godown information also.

Tally 5.4: It has been working with Windows NT multi user operating system. It is used to create accounts information along with inventory information and godown information also. Zero valued entries can be entered in their version.

Tally 6.3: It has been working with Windows multi user operating system. Interest calculation and invoice are the features introduced in this version. This is also used to create the companies with the following criterias.

(a)  Accounts only: It is used to create only company accounts and related financial statements.

(b)  Accounts with Inventory: It is used to create company accounts along with inventory information and godown information also.

(c)  Inventory only: It is used to create companies only with inventory information along with godown information. And no accounting information is possible.

Tally 7.2: It has been launched with effect from 1^st April 2005. It has also been working on multi user operating system. VAT and TDS are the features introduced in this version. This is also used to create the companies with the following criterias.

(a)  Accounts only: It is used to create only company accounts and related financial statements.

(b)  Accounts with Inventory: It is used to create company accounts along with inventory information and go-down information also.

Tally 8.1: It has been launched all over India during Feb 2006, which works on multi user operating system also. FBT, Job costing, Service Tax, TCS and Points of sales have been added in this version. This is also used to create the companies with the following criterias.

(a)  Accounts only: It is used to create only company accounts and related financial statements.

(b)  Accounts with Inventory: It is used to create company accounts along with inventory information and go-down information also.

Tally 9.0: It has been launched all over India during Feb 2007, which works on multi user operating system also. The new feature named ‘Payroll Management’ has been added in this version. This is also used to create companies with the following criterias.

(a)  Accounts only: It is used to create only company accounts and related financial statements.

(b)  Accounts with Inventory: It is used to create company accounts along with inventory information and go-down information also.                                   

Advantages of Tally 9.0:

            Tally 9 is the ultimate business solution, designed to meet the growing needs of your business. When you use Tally 9, you will see clear business benefits accrue right from the start. The following are the powerful advantages that you can enjoy with this versatile and robust solution.

1. Expand your business - with the concurrent multi-lingual capability and multi-currency features that allow you to transact beyond geographical boundaries, without language barriers.

2. No need to hire specialized resources – since Tally 9 is very simple to learn and the easy interface enables you to navigate the software without difficulty.

3. Blazing Speed – Tally 9 provides you with the information you want at blazing speed.

4. Unmatched Scalability –Tally 9 adapts to the current and future needs of your business, irrespective of its size or style.

5. Sheer Power – Tally 9 has the ability to handle huge volumes of transactions without compromising on speed or efficiency.

6. Real-time access to information – Tally 9 enables quick decision through fast and easy sharing of data from Tally.

7. Better cash flow and savings on interest - by using the ‘receivables and payables’ management feature, to help you ensure on-time collections and generate reminder letters.

8. Amazing Accuracy – Tally 9 provides user-definable templates for fast, accurate data entry.

9. Manage your future dealings with bad debtors and persistent defaulters - using the payment performance of debtors feature, to identify them.

10. Faster and error-free invoicing and data entry – using the multiple price levels feature to pre-define item rates for specific categories of customers.

11. Identify products with high or low margins - with the profitability analysis feature, that provides you with product-wise and invoice-wise profitability.

12. Reorder Levels - Avoid stocking excess items and ensure that you don’t run out of essential stock by using the reorder feature, to set reorder levels for any given period.

13. Reduce costs and increase productivity – Tally reduces costs and increases productivity by using features such as inventory management, receivables and payables management etc.

14. Enjoy better planning and forecasting – by using sophisticated analytical tools that help you forecast and examines possible scenarios, and gives you the ability to view provisional reports.

15. Save time and reduce paperwork - by automating your Payroll process with the Payroll Feature in Tally 9, you can save time and reduce paper work.

Tally 9.1.3: It has been launched all over India on 17^th July, 2007 which works on multi user operating system also. The new feature named ‘Payroll Management and Education Cess Modification’ has been added in this version. The following types of companies can be found in this version.

(a)  Accounts only: It is used to create only company accounts and related financial statements.

(b)  Accounts with Inventory: It is used to create company accounts along with inventory information and godown information also.

Tally ERP 9.3: Tally ERP 9.3 means Tally Enterprise Resource Planning 9.3. It has been launched all over India on 28^th April, 2011. The new features New Indian Rupee Symbol (`), Banking, Excise for Manufacturer and all recent updates of all the taxes have been introduced in this version.