TallyPrime 5.1 comes with two different release:

• 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.

Additional Enhancements in TallyPrime 5.1

• Improved Display of Stock Item Additional Description:
  Stock item descriptions are now displayed in a single line, improving readability in invoices.

• Voucher Mismatch Issue Resolved:
  Mismatch in vouchers no longer results in incorrect "Uncertain Transaction" status. Vouchers are now recorded correctly without any change in status.

• Accurate GST Calculation:
  GST is now correctly calculated for Service Ledgers.

• Bank Charges GST Exception Resolved:
  GST errors in GSTR-2A, GSTR-2B, and GSTR-3B due to incorrect bank ledger registration type are fixed, with the option to resolve flagged transactions.

• Better GST Compliance:
  

  Now report missing invoices or claim ITC based on whichever occurs first:

  • November of the following financial year

  • 20 months from the start of the current year

  • Filing of annual returns

  Similarly, credit notes for sales can be issued until the earlier of:

  • of the following financial year

  • November of the following year

  • Filing of annual returns

• Flexibility in Adjusting Advance Receipts and Payments:
  Adjustments for advance receipts and payments are no longer limited to 18 months. They can be adjusted without any time restrictions.

• Reconciliation Aligned with GSTR-2B:
  Reconciliation now uses consolidated tax amounts as per the latest GSTR-2B version.

• Improved GST Registration Masters
  GST registration masters can now be deleted in multi-registration setups after clearing transactions.

• Clearer Button Labels:
  In upload preview reports, "Send" is now labeled as "Send (Online)" and "Export" as "Export (Offline)" for clarity.

• Accurate GSTR-1 Report Classification:
  Debit/Credit Notes now correctly appear in their respective sections in the GSTR-1 report.

• Undo Filing Option Error Resolved:
  The "Undo Filing" option in GSTR-1 and GSTR-3B reports is now functioning correctly without errors.

• Display Language Now Shows as Arabic :
  Arabic display language is now listed simply as "Arabic" instead of "Arabic (Saudi Arabia)."

• Improve Voucher Display and Printing:
  The "Rate (Incl. of Tax)" column now appears correctly in voucher display and multi-voucher printing.

TallyPrime 5.1 and TallyPrime Edit Log Release 5.1 come with these significant updates, making business management easier.