The past few years for Tally have indeed been remarkable. We witnessed some significant major releases like TallyPrime Release 5.0, TallyPrime Release 4.0, and TallyPrime Release 3.0 - each bringing upgrades through simplified processes and amplified customer support. Now, with the latest version of TallyPrime Release 6.0 these improvements are further built upon, offering even more features that streamline business operations.
TallyPrime Release 6.0 launches a new era for Tally users by introducing a transformed Banking experience with new capabilities and features that enhance how Tally users perform banking operations. This new version aims to be a tech driven solution that helps in streamlining daily banking activities. With enhanced bank reconciliation and automated accounting using bank statements, you can now devote more time to the growth of your business.
Through this blog, we help you understand the new features that TallyPrime Release 6.0 and TallyPrime Edit Log Release 6.0 offer in simplifying business operations.
Connected Banking Made Easy
Now, you can securely link all your bank accounts to TallyPrime through a single, secure login using Tally.NET credentials. This means you can access real-time bank balances and statements directly within the software.
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Instant Bank Balances: View your bank balances in seconds without having to log into separate bank portals.
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Bank Statements: Retrieve your bank statements directly and use them for reconciliation, saving time and effort.
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Seamless Payments and Reconciliation: : Track electronic payments (E-Payments) and handle bank reconciliations with new and improved reports.
Advanced Bank Reconciliation for Error-Free Transactions
Reconciliation just got easier with TallyPrime Release 6.0. The auto-reconciliation feature helps you automatically match transactions between your bank and books, significantly reducing manual effort and errors.
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Auto-Reconciliation: Automatically reconcile direct matches and easily identify potential matches for your bank transactions.
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Manual Reconciliation Options: Now you can easily perform manual reconciliations where necessary while still enjoying the convenience of reconciling multiple transactions.
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Custom Rules for Matching: Define specific rules that match your business needs to make reconciliation even easier.
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Flexible Matching Options: Reconcile one or multiple transactions from both the books and the bank for more flexibility and accuracy.
Additionally, First-Time Reconciliation Setup lets you easily set a date for your first reconciliation and track any un-reconciled transactions in an opening Bank Reconciliation Statement (BRS) report.
Automated Voucher Creation from Bank Statements
TallyPrime Release 6.0 makes voucher creation faster and easier. With the new automated feature, you can now generate vouchers directly from imported bank statements, which helps reduce manual data entry and increases accuracy.
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Instant Voucher Creation: Create multiple vouchers in one go, automatically filling in key details like the narration, amount, instrument number, and date.
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Merge Transactions: Combine multiple transactions into a single voucher, streamlining your accounting process.
Bank Reports for Better Insights
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Banking activity reports: Get an overview of all bank ledgers that highlights pending actions pertaining to Bank Reconciliation and E-Payments.
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Drill-Down Menu: From the banking activity report, drill down into specific reports like the Bank Reconciliation Summary and Reconciliation Report for more detailed insights.
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Detailed Banking Info: Key reports, such as the Ledger Voucher and Day Book, now include bank details like account numbers, payment methods, and transaction instruments, making it easier to track and reconcile payments.
Enhanced Data Management with Advanced Company Split
TallyPrime Release 6.0 makes handling large datasets easier with new data split features. Whether you’re managing one company or splitting data into multiple companies, the process has been improved for greater accuracy and efficiency.
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Simplified Data Split: Easily split your company data into separate entities for better compliance and improved performance.
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Single Company Creation: Businesses with large datasets can now create a new company with the latest data, improving system performance.
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Progress Bar for Transparency: A new progress bar shows the status of your data split process, helping you stay on track.
Before you start splitting, TallyPrime Release 6.0 also prompts you to verify data, ensuring that errors are identified and resolved before proceeding with the split.
Additional Enhancements in TallyPrime Release 6.0
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Bank Data Integration: Import bank data from over 145 banks in India and 80 banks across Asia, Africa, and North America. This feature makes reconciliation and audits quicker and more accurate.
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E-Fund Transfer Mode: Set E-Fund Transfer modes like IMPS or NEFT for your E-Payment vouchers. The system automatically applies the correct mode based on the transaction amount.
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Banking Dashboard Tiles: Get a quick overview of pending reconciliations and bank balances directly from your dashboard.
Edit Log Enhancements
Tracking changes in your data has never been easier. TallyPrime Release 6.0 enhances the Edit Log feature to provide better data verification. Now, you can track changes in bank date, instrument numbers, and UPI IDs for a more detailed audit trail.
Profile Management and GST Enhancements
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Profile Management: You can easily update your contact details in TallyPrime. Plus, you’ll receive reminders twice a year to keep your profile information current, ensuring you stay up-to-date with the latest Tally notifications.
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GST Enhancements: GSTR-1 filing is now more intuitive, with accurate matching for B2B invoices. TallyPrime also supports Excel Offline Utility 5.4 for GSTR-3B, improving the accuracy of ITC-related data.
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TDS Calculations: TDS values are now updated correctly in transactions without discrepancies in Dr & Cr and TDS ledger values.
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VAT Report Enhancement: VAT reports now appear correctly for all Indian States and Union Territories, including previously missing regions.
Conclusion
TallyPrime Release 6.0 brings a wide range of features to simplify banking, accounting, and business management. With smarter bank reconciliation, automated voucher creation, and advanced data handling, it’s easier than ever to streamline your operations and focus on growing your business.
At Antraweb Technologies, we are dedicated to helping you make the most of TallyPrime Release 6.0. Whether you need assistance with product understanding, customization, training, or migration, our team is here to support you every step of the way. Get in touch with us today and take your business to the next level!
