Tally ERP 9 has been a revolutionary version of the highly popular software with its state of the art features and effectivity. Many small, medium and big sized businesses globally use Tally for their daily business functioning and the number has now crossed several millions. The latest version of this software has created new heights for itself by incorporating some latest features that are quite user friendly. Let’s have a look at some of the latest features that have made this software quite popular amongst businesses.
New Features of Tally ERP 9
Tally already possesses features of excise for traders. Excise for manufacturers has been one of the most eagerly awaited features in this version. It’s there now in a comprehensive and simple fashion.
This software handles, for instance:
- Several types of excise duties (Basic, Special, Education cess etc.)
- Multiple ECC numbers for a single company (A company could possess multiple registered excise godowns and can also trade in excisable goods)
- Several valuation methods (such as Ad valorem, Ad valorem/transaction value, value based on MRP, Ad quantum etc.) – all of these, if required, in the same invoice!
- Flexibility to possess different unit of measures for excise reporting and recording transactions.
- Payments to central Excise
- Keeping statutory records and reporting and returns
- Availment of CENVAT credit
- Sequential numbering for excise invoices even across various voucher types – for instance across invoices and debit notes
Tax Deducted at Source
The TDS facilities in the latest version cover the entire scale of TDS related processes right from the creation of a TDS liability to discharge and creating the e-file for the same.
In the latest version of the software, the TDS feature has been totally re-written with new features being introduced. They are:
- Ability to deduct TDS and also record the liability (as a result of purchase or availment of services) in a single voucher
- You might also opt for creating the TDS liability on a periodic basis.
- Now, one doesn’t need to create separate ledgers for payments related or not related to TDS, as the same ledger can be used for both
- Some additional features such as NRI payments are also facilitated
Payroll Statutory Reports
This latest feature now incorporates nearly all the PF, ESI and Professional Tax forms and reports that are required to be submitted to the authorities. This was another much awaited feature in this software.
The newer version now has almost 30% more screen real estate to display the information. This is done through a ‘hide on demand’ info panel. This highly informative panel makes the user aware about not only the version but also the latest version that’s available from Tally support.
With all these new features on offer Tally has certainly raised the bar and has reconfirmed its position of being the top business accounting software in the world.