IT solutions Dubai >> Finance and Accounting Software >> Tally.ERP 9 Accounting Software

Advantage of Tally.ERP 9 Accounting Software

• Powerful remote capabilities that boost collaboration
• Easy to find qualified personnel
• Easy to customise
• Low cost of ownership via quick implementation, Tally Integrator, Support Centre

Functions and Features:

Accounting
• Accounting :The only sensible way to do accounts is to do it without account codes, just regular names. With unlimited levels of classification, which you may define at will, Tally manages the most complex ledger systems with ease.
• Unified Ledgers: Tally pioneered the concept of Unified Ledgers where the General, Sales and Purchase Ledgers are integrated into a Single Ledger and organised in Groups for easy management. This concept gives tremendous reporting power with ease of data entry.
• Complete Book-keeping: The complete range of bookkeeping facilities! Recording of all types of transactions including Receipts, Payments, Income and Expenses, Sales and Purchases. Debit Notes, Credit Notes, Adjustment Journals, Memorandum Journals as well as Reversing Journals. Transaction data entry through unique voucher entry that is easy and flexible to configure for diverse types of transactions.
• Multi-Currency Accounting: With the flexibility of multiple currencies in the same transaction, and viewing ALL reports in one or more currency. The fundamental criteria set out for EMU handling are met by Tally, letting you rest assured that you are ready to meet the challenge.
• Receivables and Payables: Dynamically allocate payments against invoices with reference to due dates. Reports are classified, grouped, and aged to your definitions. Customisable reminders, for overdues, as well as ‘payment performance’ – showing your good and bad paymasters!
• Ratio Analysis: A range of key performance ratios gives you that Bird’s Eye View of your company. It is a single sheet Performance Analysis that puts you in total control of your business.
• Budgeting, Auditing and Security Control: Unlimited budgets and periods, (for example, Original and Revised Budgets), user definable Security Levels for access control, and powerful Audit capabilities. The audit facility allows you to track malafide changes, while making genuine corrections with unparalleled ease.
• “Scenario” management – Use Optional, Reversing journals and Memorandum vouchers to aid in recording provisional entries useful for interim reports. For example, use Optional Vouchers to record provisional sales and compare with actuals. Useful feature for forecasting and planning. Prepare reports including provisional figures without affecting actual accounts using automatic reversing journals.
• Unlimited Cost/Profit Centres – with power Project Oriented reporting: Projects, Depts, Mktg. Zones are just a handful of analysis criteria you can use with Tally. With unlimited sub-classification, Tally gives you multi-dimensional analysis and comparatives.

Inventory
• Multi-location Stock Control: Use Tally for simple single-location, or complex Multi-location Stocks. With the same unlimited classification systems for your Items, and your own units of measure. For example, ‘Bales of 64 lbs.’!
• Comprehensive recording of stock movement: All sorts of inventory transactions can be recorded using the inventory voucher forms that make inventory recording very easy and comprehensive. Vouchers include Goods Receipt Notes, Delivery Notes, Stock Transfer Journals, Manufacturing Journals as well as Physical Stock Journals. All stock movements are fully recorded and maintained in Stock Registers.
• Variety of management reports: Movement Analysis that give party-wise details of goods bought and sold and help identify good and bad business partners. Stock Query is a unique single sheet report that gives information on stocks at different locations as well as stock in hand of substitutes.
• Aged stocks Analysis - this report will identify old stocks to aid in decisions relating to their quick disposal.
• Batch- related stock reports-like Batch-wise reports and expiry date based details will enable stock control to be exercised to the level of batches.
• Re-order levels and minimum order quantities. Be on top of your stocks order position with the comprehensive Order Status reports in Tally. Specify reorder levels in absolute quantities or based on previous consumption.

Manufacturing
Businesses in Manufacturing can benefit immensely from Tally ERP9 by the following functions and features: Stock Item Classification as Raw materials, work in Progress, Finished goods. The user can also create ledgers with the same name under the group Stock in Hand. Once the user has deactivated the option ‘Integrate Accounts with Inventory’ based on the closing balances entered by the user Tally ERP .9 automatically displays the total closing balances of all the ledgers grouped under the group Stock –in Hand.
• Bill of Material with auto adjustments of stock
In many industries, especially assembly units there are number of components involved in the manufacture of finished items. It is extremely difficult to issue stock items each time a product is manufactured. Such situations can be handled in Tally.ERP 9 by using Bill of Material. To generate a Bill of Material, create a new item (finished or intermediate product) and specify the components that go in to manufacturing of that finished / intermediate product. Now, using manufacturing journal, specify the quantity of items to be manufactured. Tally.ERP 9 immediately selects all items that go in to manufacturing of the finished product and automatically adjusts (decreases) the stock. Any additional manufacturing cost like wages, power, water charges etc, can be added to the value of the manufactured product.
• Additional cost of Manufacturing with notional value and percentage: When a product is manufactured, other than the component cost, there are manufacturing costs like labor, electricity, accessories etc, which will have to be added to the cost of the product. In Tally.ERP 9, the additional cost can be added to the product while entering stock Journals or at the time of entering a manufacturing Journal (use B.O.M). The user can specify additional cost as a % of the component cost or even specify a notional value.

Point of Sale(POS)
POS is an acronym for Point of Sale. Point of Sale could mean a retail shop, a check-out counter in a shop or any other location, where a sales transaction takes place. The various POS equipment used in retail outlets are Cash registers, card readers and barcode scanners. It is a computerized Cash Register which adds the sales total, computes the State sales tax or VAT, calculates the change from the money tendered and automatically adjusts the store’s inventory.
Tally ERP.9 feature helps you to streamline your retail operations by automating the ‘Check out’ process for you and your customers. It provides advanced capabilities with ease of use ensuring smooth retail operations. A onetime configuration is all it takes for the POS feature to be activated.

Payroll
The software is capable of handling simple pay slip generation in five easy steps to complex associated processes including handling Loans and Advances , Salary revision and Arrear calculation, Deductions and ad-hoc payments etc.

• Benefits of using Tally.ERP 9 Payroll
• Time spent on processing salaries, manual and paper work can be cut down to a great extent.
• Accurate and timely salary processing.
• Tracking and reviewing of employee’s absence and salary calculation as per the attendance is much easier.
• Generate the Payment Advice to instruct the bank for salary payment.
• Payslips can be printed, exported to Excel or emailed to the respective email accounts of the employees.
• All payroll related reports can be generated with a click of a button.
• Above all, the Payroll feature is completely integrated.

Tally.ERP 9 – Auditors’ Edition

A growing economy, widening tax net and increasing compliance requirements make an Auditor’s role critical. For a Chartered Accountant like yourself, this could mean time is at a premium. Travel and people costs escalate by the day. Manpower is in short supply. Instead of an ideal level workload across the year, you have short periods of intense work. You can turn all this around. Presenting Tally.ERP 9 – Auditors’ Edition, a powerful tool exclusively for CAs. Tally.ERP 9 – Auditors’ Edition is designed to help you to transform your practice and streamline your clients’ businesses. Working in conjunction with Tally.ERP 9 installed at your clients’ offices, this unrivalled product can increase audit efficiency, reduce time and effort, increase opportunity by adding new services to your portfolio, and more. The new remote capability to access clients data from wherever you are – say directly from your office, and even offer value-added services like Continuous Compliance… are just some of the many opportunities available to you via this unique product

Highlights of Tally.ERP 9 Accounting Software – Auditors’ Edition

• Secure remote access to client’s data
• Provides the option to Audit from anywhere
• At-a-glance dashboard showing voucher/ledger correctness and verification status
• Easy-to-spot-errors via exceptions
• Special audit and compliance tools for
• Tax Audit u/s 44AB
• Statutory Compliance for regular Compliance services
• Generate annexure to Form 3CD
• Generate Form 3CD
• Generate Schedule VI Balance Sheet and Profit & Loss A/c Statements

Hardware Requirement for Tally.ERP 9 Accounting Software

To install Tally.ERP 9 Accounting Software, the user needs to have administrator rights (Create, Write, Update, Modify and Delete permissions). Multilingual users must ensure that the operating system supports multiple languages. The Hardware requirements and Operating system required for a Client-Server and a standalone computer are as described below:
• Processor : Intel Pentium IV or above and Equivalent RAM 512 MB or more.
• Hard Disk space : 60 MB Minimum (Excluding Data) Monitor Resolutions 1024 x 768 or Higher.
• Operating System : Microsoft Windows 7/Vista/XP/2003/2000/NT/ME/98
Tally.ERP 9 Accounting Software will work on lower configurations too; however we do not recommend the same.