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As of December 2024, TallyPrime 5.1 is the latest version.

• TallyPrime 5.1
• TallyPrime Edit Log 5.1

While both versions offer numerous improvements, the key difference is the Edit Log feature. The Edit Log version comes with an permanent log of all changes, providing enhanced audit and compliance features. For the non-Edit Log version, this log can be enabled or disabled based on user preferences.

TallyPrime 5.1 is here to revolutionize the way you manage your business. This latest release is packed with powerful features and enhancements designed to streamline your operations and boost efficiency.

From simplified GST management to improved voucher number control and enhanced payroll compliance, TallyPrime 5.1 offers a comprehensive solution to meet the evolving needs of modern businesses. Let’s look into some of the new features and improvements below.

Simplified GST Conflict Resolution

Effortlessly identify, resolve and track GST related discrepancies between Masters and Transactions , ensuring your data remains accurate and helps to stay compliant with GST Regulations.

Flexible Voucher Numbering and HSN/SAC Summary Configuration During Migration

When migrating from TallyPrime Release 2.1 (or earlier) to Release 5.1, you can easily manage voucher numbering and HSN/SAC configurations. Here's what you can do:

1. Voucher Numbering:
   • Keep the current voucher numbering method.
   • Choose to apply it to specific voucher types like sales or to all voucher types.

   • Continue using the existing numbering method.

2. HSN/SAC Summary Configuration

   • Set up the HSN/SAC Summary for all sections, or exclude B2C sections.

3. HSN Length for Stock Items

   • Configure the desired length for HSN codes of stock items.

Export GSTR-1 for Multiple Periods into One Excel File

GSTR-1 returns for multiple periods can now be exported into a One Excel File. If a company has multiple GST registrations, it is possible to select a specific registration or all registrations and export the returns at once.

HSN/SAC Summary in Annual Computation Report

The HSN/SAC Summary is now included in a consolidated, period-wise report within the Annual Computation report.

Bulk Conversion of Transactions from B2B to B2C

Transactions rejected because of an inactive GSTIN can now be bulk converted from B2B to B2C with just one click.

Accurate e-Way Bill Generation for Export Invoices

Previously, e-Way Bills for export invoices were rejected if the Ship To details included a non-Indian state and missed the pin code of an Indian port. This issue is now fixed. You can now generate e-Way Bills and e-invoices for exports by selecting a valid Indian state and the pin code of the Indian port from where the goods will be shipped.

Automated Distance Calculation for E-Way Bill Generation

You no longer need to manually enter the distance between origin and destination pincodes when generating an e-Way Bill. TallyPrime will automatically fetch and display the distance in the e-Way Bill. This applies when the Pin to Pin Distance as per Portal field is blank or the distance information is missing.

Generate e-Way Bills for Material In and Material Out Vouchers

You can now generate e-Way Bills for both Material In and Material Out vouchers. This is especially helpful when shipping materials between the principal and job worker for manufacturing.

Enhanced Payroll Compliance

With the release of FVU Tool Version 8.6 by the Protean Department, the file format for e-returns has been updated. In TallyPrime 5.1, you can now directly export the expected Salary Details (SD) and Standard Deduction values into the Payroll ITeTDS.txt file.

New Tax Regime Updates in Payroll ITeTDS.txt File

Previously, Provident Fund (PF) contributions were included in the Payroll ITeTDS.txt file export, regardless of the chosen tax regime. With the latest FVU format changes, PF contributions are now excluded from the export for employees under the New Tax Regime.

Exclusion of Deductions in the New Tax Regime

Previously, Professional Tax and Chapter VI-A deductions were included in the ITeTDS.txt file, even for employees under the New Tax Regime. As per the latest FVU format, these deductions are now excluded for such employees.

Display and Print Amount in Words in Arabic

Previously, the amount in words in vouchers was shown in English, regardless of the selected language. Starting from TallyPrime Release 5.1, the amount in words will now be displayed and printed in Arabic when the display/print language is set to Arabic.

As of September 2024, TallyPrime 5.0 is the latest version.

• TallyPrime 5.0
• TallyPrime Edit Log 5.0

The key difference between the two is the Edit Log feature. The Edit Log version maintains an permanent record of all changes, while the regular version allows users to enable or disable this feature as needed.

Both versions come with the following features and product enhancements:

Accounting & Compliance Needs with Connected GST

• With TallyPrime 5.0, businesses can upload and download GST returns such as GSTR-1, GSTR-3B, and CMP-08 directly from the software. This streamlines the process and reduces the risk of errors.

• Download reports like GSTR-2A and GSTR-2B quickly and easily, making compliance faster and more accurate.

Automated Tax Calculations (TDS under Section 194Q)

• For purchases exceeding ₹50 lakhs annually, TallyPrime 5.0 automatically deducts TDSstrong> based on payment type. This eliminates the need for manual tax calculations, ensuring accuracy and compliance.

• Manage TDS exemptions for government entities and handle Form 26Q reporting with ease, improving the overall tax management process.

Tally Plug-In Management

TallyPrime 5.0 introduces the ability to extend software functionality with Tally Plug-Ins i.e; Tally-Capital, which enables users to check credit scores and apply for loans directly through TallyPrime.

Enhanced Payment Management

TallyPrime 5.0 simplifies payment handling by allowing users to sort pending bills by due date, bill date, and balance. This ensures timely payments, avoiding penalties and late fees while improving cash flow management.

Strip View for Enhanced Readability

The new Strip View feature highlights alternating rows in reports and vouchers, making large datasets easier to read. This feature is especially helpful for printing and sharing documents.

Instant Notifications via Bell Icon

Stay informed with the Bell Icon, which provides notifications for crucial tasks like GST uploads, return filings, TSS renewals, and license management. Manage all alerts from a single screen, improving workflow efficiency.

As of March, 2024, TallyPrime 4.1 is the latest version. -

TallyPrime 4.1 has two different versions:
TallyPrime 4.1 Edit Log and TallyPrime 4.1. The former has an edit log that cannot be turned off, and the latter has an edit log that can be enabled or disabled as per user convenience. This is the only difference between the two versions.

TallyPrime 4.1 Edit Log and TallyPrime 4.1 versions come with the following features -

1. MSME Feature (Micro, Small & Medium Enterprises.)

The new MSME feature helps small businesses and those dealing with them easily figure out if a business is classified as an MSME and keep track of any unpaid bills.

Additionally, buyers from small businesses can swiftly submit their Form MSME 1, providing all necessary information about overdue payments.

For Registered MSME Businesses:

• Manage UDYAM Registration details, make changes, and track alterations with dates.

• Print invoices with UDYAM details for MSME status awareness.

• Easily track due payments and send reminders for timely payments.

For Businesses trading with MSMEs:

• Set up suppliers' MSME status.

• Pay bills from MSMEs before the due date.

• Quickly access info on overdue payments and report if needed.

• Review all unpaid bills to understand income tax deductions.

2. E-Commerce Summary Report

For businesses selling online through platforms like Amazon, Myntra, and Flipkart, TallyPrime Release 4.1 now offers an e-Commerce Summary Report in GSTR-1.

This report breaks down taxable values and taxes (IGST, CGST, SGST, and Cess) and provides GSTIN-wise sales data for each e-Commerce operator.

It simplifies entering the necessary details on the GST portal.

As of December, 2023, TallyPrime 4.0 is the latest version. -

TallyPrime 4.0 has two different versions:
TallyPrime 4.0 Edit Log and TallyPrime 4.0. The former has an edit log that cannot be turned off, and the latter has an edit log that can be enabled or disabled as per user convenience. This is the only difference between the two versions.

TallyPrime 4.0 Edit Log and TallyPrime 4.0 versions come with the following features and other product improvements -

1. TallyPrime with WhatsApp for Business

TallyPrime Release 4.0 brings to the feature of instant communication via WhatsApp for Business. This helps you take advantage of technology advancements and experience enhancements in communication.

Businesses can send documents and digitally signed financial statements directly from TallyPrime to one or more parties or stakeholders in a single click with the use of WhatsApp. Similarly, You can send reminder letters and invoices to your parties via WhatsApp and get responses from them.

2. Import Data from MS Excel

Manual data entry for high volume data is a nightmare for any business. To address this, TallyPrime Release 4.0 provides seamless import from MS Excel. This is in addition to the existing option to import XML files. This will allow you to retrieve the data in your Excel workbook and import it into TallyPrime.

What’s in store:

• Effortlessly import masters and transactions from Excel.
• Use any of the default templates/sample Excel files.
• Take data curated in any Excel workbook and map it to fields in TallyPrime, regardless of the format or order.
• Identify errors that occurred during import from the logs created while importing.

3. Graphical Dashboard

TallyPrime's dashboard allows you to analyze your business information in an intuitive format. Previously only sales and purchase dashboards are provided by default, now you can also create various different dashboards.

Dashboard in TallyPrime offers flexibility to:

1. Add tiles or hide tiles, configure each tile independently, include or exclude data points, and so on.
2. Restrict access to dashboards, based on user rights.
3. Create different dashboards for different purpose, organise tiles as per your preferences, and save the views.
4. Load a dashboard as the home screen when you open a Company.
5. Print, export, and share with stakeholders by e-mail or WhatsApp.

As of July, 2023, TallyPrime 3.0.1 is the latest version. -

TallyPrime 3.0.1 has two different versions:
TallyPrime 3.0.1 Edit Log and TallyPrime 3.0.1. The former has an edit log that cannot be turned off, and the latter has an edit log that can be enabled or disabled as per user convenience. This is the only difference between the two versions.

TallyPrime 3.0.1 Edit Log and TallyPrime 3.0.1 versions come with the following two features and other product improvements -

e-Invoicing Enhancements

TallyPrime 3.0.1 brings significant improvements to your e-Invoicing experience. The e-Invoice report has been refined to help resolve many issues quickly and easily, leading to fewer rejections on the portal. It also includes improvements in the export and HSN/SAC for a better GST return filing experience. The e-Invoice report will help you make necessary corrections right in TallyPrime, preventing rejections on the e-Invoice portal.

GST Module Improvements

The GST module in TallyPrime 3.0.1 has been enhanced to improve your return filing experience. This includes an "Accept As Is" option for blank HSN/SAC. Filing GSTR-3B using JSON is now smoother. The GSTR-3B JSON exported from TallyPrime will now contain the details of all the sections and transactions, including zero-valued sections.

In addition to these, TallyPrime 3.0.1 also records changes made to the company data like data splitting, migration, etc. It also allows for smoother e-Invoicing for foreign parties, easier generation of e-Way Bill along with e-Invoice, and seamless generation of e-Invoices for goods and services, even when UoM is not used.

Digital Signature

TallyPrime 3.0.1 now allows you to add a digital signature to your Tally PDF documents. This feature is dongle-based and requires you to have your dongle connected to the system while digitally signing the documents. You can use the digital signature while exporting, printing, and emailing PDF documents to your stakeholders, customers, auditors, etc.

As of March, 2022, Tally Prime 2.1 is the latest version. -

Tally Prime 2.1 has two different versions. Tally prime 2.1 Edit Log and Tally Prime 2.1. The former has edit log that cannot be turned off and the later has edit log that can be enabled or disabled as per the user convenience. This is the only difference between the two versions.

Tally Prime 2.1 Edit log and Tally Prime 2.1 versions comes with the following two features and other product improvements -

Edit Log

• Track all user activities

• Generate complete report of user activities with user action, use name and date and time of the activity done.

• Edit log records data change made to vouchers as well as masters.

• It also records changes made to the company data like data splitting, migration, etc.

Digital Signature

Digital signature can now be added to your Tally PDF documents. this feature is dongle based and requires you to have your dongle connected to the system while digitally signing the documents.

You can use digital signature while exporting, printing and emailing PDF documents to your stakeholders, customers, auditors, etc.

Here are some newly introduced features in Tally -

Introduction of the bottom bar

• Access shortcut keys from the bottom of the screen

• Get on-screen product updates

• Flexibility to hide bottom bar

Notifications in Tally Prime

• Get notified regarding Tallyprime releases, TSS validity and renewal, rental license expiry as well as any license related issues

• You can snooze these notifications when not needed

Product Improvements

Improvements while exporting data to MS Excel -

• Speed improved while exporting all ledger accounts and group of accounts reports

• Data alignment in sheets improved

• When exporting bank books to excel, Memory Access Violation error appeared, this issue is resolved

• The exported Cost Centre showed Opening Balance even when it is disabled. This has been fixed.

• When exporting and printing transaction-wise TDS outstanding report, the payment type was not showing. This has been fixed

• After restoring data in Tally from Drive, the company restored was not showing in the list of companies. This issue has been fixed.

Here are some newly introduced features in Tally -

• E-way Bill

  Generate E-way bill while creating entries in Tally itself. You have the option to generate a single e-way bill while creating an entry or you can generate bulk E-way bills by going to the Exchange Menu in Tally

• GSTIN / UIN and HSN / SAC validation

  Tally Prime 2.0 provides instant validation of GSTIN / UIN and HSN / SAC entered in Tally. This will ensure you do not enter any wrong details.

• Save view of a report

  You can now save the view of a report i.e you can save the configurations of the report for future reference.

• Better experience for report viewing on the browser

  The mobile view for viewing reports in Tally has been given a new delightful experience. While viewing reports in Tally, the report is automatically adjusted to fit your screen and thus you do not need to manually adjust the report.

Here are some newly introduced features in Tally -

• You can now calculate TCS depending on your type of business practice - TCS on either realisation/receipt of the invoice or accrual. You can also switch from one method to the other in transactions and party ledgers.

• There are some exemptions to the deduction of TDS. For example, some parties make TDS payments at the time of the current transaction itself. Such parties can be exempted from the TDS set TDS deduction while recording the transaction.

• For government listed buyers, in Tally, you can set such parties as exempted from TCS and calculate the tax component as per appropriation.

• You can now generate Form 27EQ for TCS.

• Ledgers can now be made without the PAN details. You can check the list of buyers as well as update the required details in the party ledger.

• You can now configure TCS in sales ledger or stock item this helps you set the TCS for a stock item and thus you do not need to update the TCS for every transaction.

• In this version, the E-invoice Sandbox experience has been introduced. It will help you -

  • Get familiar with how e-invoicing works on the live IRP.

  • Create E-invoice and voucher simultaneously

  • Create, cancel, alter and get E-invoices in bulk

  • Experience e-Invoicing without any impact on your GST Returns.

All these Sandbox features can be experienced with an expired TSS or in Educational Mode

Other than these various product improvements have been done to improve user experience.

• IFF filing is now supported in Tally by providing option for section-wise export of GSTR-1.

• TallyPrime supports VAT for Oman. You can now enable VAT, set registration details, set tax rates, make duty masters, implement VAT in transaction details n TallyPrime for Oman VAT.

Product improvements -

• Issue of Printing logo on simple invoice format has been resolved. In some options, logo was not being printed.

• Change display settings to Bright or soft as desired.

• The issue of transporter name not being printed in the E-way bill when generated from the portal has been solved.

• In E-invoicing process, after verifying the e-invoice using the acknowledgement number, the product description was showing blank this issue has been resolved.

• E-invoices were being rejected by the E-invoice system when UoMs with 4 decimal points were being rounded off for a few stock items. This also has been solved.

• Issue of missing bill wise reports when printing the ledger voucher’s report in the condensed format has been resolved.

• Appearance of Any@0% in sales transaction of TCS category has been solved. Even the rate printed in some cases was showing incorrect numbers. This also has been solved.

• Bank reconciliation statement for Kotak Mahindra Bank, showed MAV error while using the ‘Reconcile all unlinked’ feature after import of a bank statement. This is resolved now.

• Cheques can now be printed in vertical centre mode.

• Voucher total have not been matching after saving a contra voucher from bank statement. This issue is solved now.

• You can now export payment instructions file in encrypted format by uploading the files on Bank of Baroda portal.

• E--payments for Yes Bank - You can select Delimited - Corporate Net Banking option along with fixed Width - Corporate Net Banking format in the E-payment configuratIon screen.

Highlight

You can now download and vouchers while viewing reports from the browser. These reports will be downloaded in MS Excel format.

Product Improvements

Accounts & Inventory

• In the sales order, when the due date is set lower than the voucher date, a warning is displayed.

• In the trial balance report, on clicking F7 - vouchers button, a blank page was shown, this issue has been fixed.

• In the Group Budget Screen, while creating Budgets for Accounting Groups, the wrongly named column title ‘Account Name’ has been changed to ‘Group Name’.

GST

• Provision is made in Tally generated invoice to print invoice title as Tax invoice when sale is done with a registered dealer and even with an unregistered dealer in case of an Invoice-cum-Bill-of-Supply

• Any purchase from URD of value less than Rs. 5000 was appearing in GSTR-3B against From a Supplier under Composition Scheme, Exempt and Nil Rated Supply under Section 5. However, the transaction was not found in the Voucher Register Level. This was occurring when the option Enable Tax Liability on Reverse Charge (Purchase from an unregistered dealer) was set to ‘No’. This issue has been resolved

• The purchase values appearing against Inward Supplies (liable to reverse charge) in GSTR-3B does not match with values shown in Voucher Register Level. This occurred when-

  • Purchase was recorded using Journal Voucher Entry and the option ‘Reverse Charge Applicable‘ was enabled under Tax Classification Details while recording the transaction.
  • Purchase was recorded by selecting the fixed asset ledger with Nature of Goods as Capital Goods.

  This issue has been resolved.