Many of you must have heard the word Tally for years now. Some know what it means while others aren’t aware of what it’s all about. It’s nothing but an accounting software for small and medium organizations. It does each and every function of accounting that a mid-sized organization is into. This is what most of those who know Tally opine. However, the software is not only that but offers much more than that. Many believe that it’s not just an accounting software and after it released its ERP version, its functioning and proficiency is quite widened and extended to a great extent.
Tally is an all-inclusive Enterprise Resource Planning System having an outstanding command over accounting features. The hold it has in accounting is truly admirable, though it has several more core features required by a business. As a result, it’s known more for accounting instead of any other features.
Some Features of Tally
It goes without saying that accounting is the main feature of Tally however; it’s not the only one. Most individuals hardly use other features than accounting. At the most they use Inventory management and some other features as they are not aware of how to use the rest.
This is an inevitable part of any business and is included in the accounting feature. The best thing in Tally ERP is that when you create a billing entry you don’t need to create accounting entry again for that bill. This lessens redundancy in entering a big amount of data. In Tally, sales and purchase are in fact for billing but they can be used as a simple voucher.
Similar to Billing, Inventory is also an inevitable part of a business. Managing inventory in an effective way can save huge amount of costs, particularly if you’re functioning in a manufacturing area.
For this feature to be exploited fully, it’s important that a business has a good number of employees, as this feature is of no use for one or two employees. However, if your client’s business has good amount of transactions then you could require this feature.
In this era of digitalization, hardly any business can survive without banking. This feature is very well covered by Tally. This feature wasn’t present in previous Tally versions but is there in Tally ERP 9.
This is what Tally all about. There are many more features in Tally and if we go on discussing them then there is no end. This accounting software is extremely simple and has so much in it which is why it’s used in more than hundred different countries globally.