Dear Friends, today we talk about what is the latest features of Tally ERP 9. Tally Accounting Software – Easy To Use With Dynamic Features. Tally Accounting Software is powered by the proprietary technology – C. MuLate (Concurrent Multi-lingual Accelerated Technology Engine). It’s easy to use, with dynamic features designed to simplify day-to-day business operations. Yet it offers comprehensive accounting structure with inventory, statutory processes and data synchronization capabilities. We already discuss about the History of Tally in previous post.
Must Read: How to Recovery of Corrupted Data in Tally
Latest Features of Tally ERP 9
It also has the ability to go globally with business transactions sans language or geographical barriers. While Tally Software is robust, its user interface makes it easy to learn and straight forward to use. Tally Account Software offers a range of inventory options from simple inventory and stock management to advanced including invoicing, purchase orders, discount column in invoicing, flexible units of measure, stock query and multiple stock valuation methods.
Tally Account Software includes Drill down display, complete bookkeeping options, flexible classification of accounts, general ledger, accounts receivable and payable, bank reconciliation and more operating with speed, flexibility and online help. Technology and data reliability and security are one of the advantages of using Tally ERP 9 Software with a diverse protocol support for HTTP (Hyper Text Transfer Protocol), HTTPS, FTP (File Transfer Protocol), SMTP (Simple Mail Transfer Protocol) and OBDC (Open Database Connectivity) with raw sockets with data interchange formats including XML, HTML and HTML with SML Islands, SOAP and SDF. It also has the ability to synchronize data across multiple offices.
This account software is one of the best for financial management providing receivables turnover, fund flows, variance analysis, consolidation of companies and branch accounting. While it is simple and easy to install with unlimited multi-user support across a single LAN (Local Area Network) setup, there is also full featured, multi-directory setup for company management, web-enabled with the ability to publish financial reports to the Internet and graphical analysis options.
Tally Software is both flexible and powerful with seamless integration with the Microsoft suite of business products. Multiple companies with daily transaction values, percentage based reporting, vouchers and comparison of data with multi-columnar reporting and more makes Tally Accounting Software on of the premier accounting software packages on the market today.
The Benefits Of Tally Accounting Software
As a business owner, you understand just how important it is to keep your finances in order and in check at all times. Making sure that your business financial well-being is always in the right place allows you to understand just where your business stands at all times. You have several choices in this area. For instance, you could keep track of everything, piece by piece, manually, if you have the time for that sort of thing. However, the best way to go is with accounting software. With the right software, such as Tally ERP 9 accounting software, you can finally have complete control over your business financials. How does Tally find its way to the top, among all of the other accounting software programs? The answer is simple.
Tally accounting software provides you with a real solution to your real business problems. With Tally, you have one software program that can take care of all of your most important business needs, such as:
Keep records, managing accounts, payable, receivables, print your checks, and reconcile your bank account.
Manage financials for multiple companies or locations, easily handle different currencies, daily transactions, daily balances, cash flow, and calculate interest.
Manage your invoices, categorize stock items, verify you’re actual on hand stock, and obtain reports on consumption.
With Tally accounting software, you have all of this and so much more. This is just a small list of the basic and advanced accounting features of the software program. While the features are extremely important, you also get account software that is reliable, secure, easy to use, powerful, and flexible all at the same time. If you are looking for premium accounting software, Tally ERP 9 is the way to go.
This is perhaps the best investment you could make for your company and it is genuinely a do it all type of program, well worth the money invested for the complete control you will now have over your business financials in return. Leave the Benefits of Tally Accounting Software Page to Go to the Home Page.
Inventory Accounting Software for Business Tips
Inventory accounting software is a must for any business that needs to manage large volumes of accounting data each day. Choosing the right inventory accounting software can however be very confusing unless you have certain parameters in place. You need to look for:
Scale-ability- Choose software that can be easily upgraded to accommodate business changes such as the number of employees, and the number of services or products being offered.
Support – Go for a company that offers ample support or a good after sales service to help you when things go wrong. Getting value for money – Shop around, as the prices of accounts management solutions vary a great deal. You may get better deals from online merchants. Go for recognized companies such as Peach tree that offer a wide range of products designed to meet every accounting need. Before you choose any inventory software, you must first evaluate the following factors:
The cost of warehousing your inventory – This would also include the costs associated with the premises as well such as maintenance, electricity, and location of different items in the warehouse. Sales ordering system – This is the system that integrates various elements such as discounts, shipping costs and other customer related issues into the inventory.
Purchase order creation and tracking Assembly production, shipping software. It is vital for any organization to establish optimum inventory, a level which is adequate enough to meet the projected cost but not sufficient to eat away the projected profits. In order to manage a modern inventory, you need to first identify the functions performed by them and accordingly work out strategies to keep inventories at optimum levels. Fortunately, companies can now depend on inventory accounting software to manage all these chores efficiently that too in little time.
When it comes to buying an inventory accounting software, there are a lot of options to choose from ranging from a very basic wholesale distribution ERP program to full-featured inventory management software. It is possible now to buy a customization professionally -developed software that too at an affordable price. Choosing the right software will mainly depend on the kind of business you are into. For instance, if you own a distribution company, then you need to have a software that would track its core areas namely; wholesale distribution management and warehouse automation. Good software gives you the much-needed flexibility and depth of functionality needed to enhance customer service and maximize profits.
Precise ERP/MRP information and good inventory control are a must for the success of any business. Both overstocked Inventory and out-of-stock items can be hazardous for the reputation of your company and prove detrimental to your bottom line. Inaccurate inventory control is often a common reason why many companies head straight towards bankruptcy in the first few years of business. Many times, inaccuracy in inventory counts is caused due to lost sales and Shipment delays. However, it is possible to erase such inaccuracies with the help of an efficient inventory accounting software.
Top-end inventory accounting software comes with inbuilt features like:
· Serial number tracking
· Complete sales and purchasing functionality
· ERP automation
Companies today need to look beyond survival and having an efficient accounting system can help stay ahead in competition. Inventory accounting software from Microsoft is packed with excellent features and targets mainly mid-size and large companies. It can be a daunting task to find software that has high functional value but is easy on the pocket. Ask for price quotes from online vendors and do a cost analysis before selecting accounting software for your business
Cut Down on Tasks with Tally Account Software
Tally account software, through various modules including accounts payable, accounts receivable, payroll and trial balance takes the considerable task of keeping records and measuring profit and loss and puts it in one cohesive, easy to
Accounting Software Tally
Accounting Software Tally ERP 9 is incredible powerful accounting software from Tally (Bangalore, India) which has enjoyed a brilliant reputation in accounting solutions for the last 20 years. What sets Tally apart is the sheer power and usability of the software – including multi-lingual, data synchronization and MIS capabilities, as well as offering a simple inventory and stock management system to advanced purchase orders, invoicing, stock queries, multiple stock valuation methods and flexible units of measure.
In today’s global marketplace an accounting software that can transcend borders and geographical locations is of utmost importance. What Tally has done is created a unique platform that fuses Concurrent Multi-Lingual Platforms and Object Oriented Database Engines. By doing so, they have developed a new proprietary technology known as C: Mulate (Concurrent Multi-lingual Accelerated Technology Engine.).
Tally modules includes:
Where you enter monies received, create invoices for customers for services and products you sell and keep track of all money flowing into your business.
The opposite of AR, accounts payable modules pay the bills for products and services you purchase to keep your business running.
The Big Picture, where you keep the company’s “books” Billing – Usually part of the Accounts Receivable module, this is what is used to create invoices to your clients.
You control the restocking and outflow of products through this module. Inventory is usually not needed for firms that offer non-tangible goods (i.e. consulting, freelance writing, service-oriented and the like) Purchase Orders – Depending on what type of company you run, you or May not have need of purchase orders. These are created to record future inventory that has been ordered but not received.
Like Purchase Orders, sales orders come in from your customers and are written up as sales orders until They go out and are, in turn, invoices created through billing or Accounts Receivable. Tally Account software and complexity come in levels depending upon the size and type of people working with you including yourself, employees, subcontractors and foreign subcontractors. If you are a sole proprietor, single person operation, you can probably purchase a low-end, Personal accounting software and keep track of the books happily for a long time.
Inventory accounting software that has modules much more detailed for large retail chains. Size is another consideration when you compare accounting software. Mid- and high-level businesses need larger systems that sport more comprehensive features including PostgreSQL, MySQL, Oracle or Pervasive databases to hold large amounts of data. They will also need more robust reporting tools like Crystal Reports. Tools to extend the base application might also be needed where programmers are needed to customize the core modules to fit the needs of a specific company. Enterprise resource planning with Tally ERP 9 account software might also be called into play for giant corporations that have very specialized needs.
Must Read: How to use (BOM) Bill of Materials in Tally
Ten Ways for Online Sellers to Keep Records
Keep Receipts – If your receipt does not show all the necessary information, you may write it on the back. You need to show: the cost of each item, the date purchased, who sold you the item (store name), and how you will use the item in your business (i.e. inventory). If you have purchased equipment for the business, also jot down when you began using the item for business purposes. Keep all receipts – even ones you may not think are relevant off the top of your head. When figuring taxes, they may become useful.
Record your Mileage – If you use your vehicle to drive to the post office or to scout for inventory, you are allowed certain deductions. Whether you take the standard mileage rate or a percentage of your actual gasoline and maintenance on the car, you will have to know how many miles your vehicle was driven. You will also need to know how many of those miles were for business purposes. Track your mileage by jotting down the odometer reading, where you are going, and for what purpose every time you get in the car.
Printout On-line Statements – Periodically print out online statements. These include everything from internet postage statements to income statements from online selling venues. This information will come in handy while filling out tax forms – not to mention in the case of an audit. You never know how long these online statements will be available on the web, so print new information frequently.
Make Spreadsheets of your new Friends – Spreadsheets can be invaluable. Whether you keep them on your computer screen with predefined categories, or print out blank ones to fill in along the way, spreadsheets are a great way to organize information. Use them to track how many miles you drove and when. Use a spreadsheet to tally expenses with separate columns for where, when, why, what, and how much you spent.
Use an Accordion-Style Folder Filing System – Where do you stuff all of those receipts and print-outs? Drawers and shoe boxes do not cut it. Invest in an accordion-style folder. You can make your own tabs fitting the categories you use: inventory expenses, supplies, mileage records, etc. This will make sifting through it all much easier come tax time. Start a new file each year.
Invest in Accounting Software – Many of the accounting computer software programs on the market today assist in not only helping you keep track of expenses and income, but they also integrate with tax software to help you prepare tax returns based on the information you have fed into it each year. Some software programs even assist with keeping track of your inventory.
Keep Credit Card Statements – Credit card statements may be used to help when figuring your taxes. You may use them as receipts for business purchases as long as they show the necessary information. You may also deduct the business percentage of any interest you pay to credit card companies.
Keep Bank Statements – Bank statements help jog your memory about what you purchased and when. They may be used as receipts as long as they show the necessary information. Are you charged service fees on your business banking Account? Bank statements show those fees – which are deductible.
Keep Previous Tax Returns – Keep previous tax returns much long than you ever thought necessary. Just because you no longer have a copy of it, does not mean you cannot still be audited on it. For serious issues, the IRS can audit you for up to six years. If they feel something is outright fraud, there is no time limit. If you expenses an asset, then later sell that asset, you may have to pay recapture taxes for up to five years. You need to have these records to properly record that information.
Accounts for your Inventory – Use your new friend, the spreadsheet, to keep track of your inventory. Write everything down as you buy it. Record what you purchased, where, the date, etc. When that item sells, go back to your spreadsheet to mark it as sold. Note the selling price. This will make your life unbelievably more organized.
Payroll Accounting Software– Payroll accounting software is essentially a comprehensive tool that has been designed to be able to the accounting needs of small businesses, companies, institutions, non-profit organizations, multinational corporations, as well as other institutions. This software helps in calculating tax with holdings, employee wages, salaries, bonuses, and tax deductions through an accurate yet timely manner. This kind of software has a lot of features that minimizes manual labor as well as paperwork. It would be the perfect choice to be able to keep track of the weekly, monthly, quarterly and annual paychecks, as well as the payroll tax-related forms. Additionally, it helps in preparing the comprehensive MIS reports, return forms, utilities, transaction entries, graphical representation and master entries.
Through the utilization of payroll accounting software, you would be able to eliminate a substantial amount of time and effort required in manual processes, as well as makes the processing of payment a lot more accurate, simpler and quicker. This is able to easily integrate with the accounting systems, the general ledger, as well as the vertical business solutions. A lot of the available payroll accounting software has numerous options and can incorporate easily to the present environment you are in.
Today, there is a wide selection of different payroll software packages, which are available online at very affordable prices. Choosing which payroll accounting software would be best for you could be a challenge because of the big number of the companies offering them. You could always try out a product before purchasing to make sure that it would be one that would fit your requirements. Want to host your blog, videos site or video blogs with the perfect web host who can give good up time and prompt custom support? Look no further. We highly recommend hosting your content sites, forums, CMS, videos and blogs with host-gator or blue host. Read the hosting coupons blog posts about web hosting industry, reviews and news about web hosting.
Tally Accounts And The General Ledger-
Tally accounts deals with Tally accounting software and its effective edge in helping you deal with your company’s books. The general ledger is the big daddy of all accounting books. Using Tally software can help you effectively and efficiently deal with all issues of the big daddy of all your accounting books which will allow you more time to make your business grow. But first let’s take a look at the General Ledger. Like a diary, the GL (general ledger) is a chronological record of your business transactions.
As businesses grew and got more complex, the ledger needed to be organized to better reflect more complicated transactions. Nowadays when using Tally Accounts and in general, the general ledger is divided into main categories: Assets, liabilities, owner’s equity, revenues and expenses. Think of them as five large baskets that contain financial information that pertain only to its category. Sales go in the asset basket; a loan goes in the liability basket.
Assets: Everything of value that your business posses, such as cash, or is owed, from products for sale and receivables (Money owed your business) to the machinery that your business uses to generate revenues.
Liabilities: Obligations (loans, IOUs, etc) that your business incurs in the process of doing business–typically, this means bills, taxes, long-term loans, and salaries.
Owner’s Equity: Whatever is left of the original capital invested in your company, plus any earnings retained from operations?
Revenue: Income from sales of goods or services.
Expenses: This category covers the Cost of Goods Sold or the direct costs of making your product (materials, direct labor) as well as operating expenses (administrative expenses such as overhead and non-labor payroll).
Note: When using Tally Accounts and the general ledger know that within these categories in the ledger are smaller baskets called sub ledgers. Usually at the end of every month these sub ledger baskets are consolidated into its matching large basket.
Hire A Bookkeeper To Use Your Accounting Software Tally
I need to hire a bookkeeper and have them use my accounting software Tally ERP 9. Where do I look? Bookkeepers primarily provide record-keeping services and do not need to be licensed in most states, although they may attain certification through their professional organizations. The American Institute of Professional Bookkeepers provides testing, accreditation, and ongoing education for bookkeeping professionals. Their web sites also provide information for accounting customers and directories of members. The AIPB Web site even includes a downloadable test you can give bookkeeping-job applicants.
If you do hire a bookkeeper to keep your records straight and use your accounting software Tally, never cede full control of the process–don’t just hand over the receipts and forget about them. Have your bookkeeper file your receipts, and then do a spot check every few weeks to check on your bookkeeper’s accuracy. Do you need accounting software to keep pace with the demands and growth of your complex business? Tally accounting software is definitely what you need. It offers great speed and power with stable reliability and an ability to adapt to your business. The software uses C: MuLate (Concurrent Multi-lingual Accelerated Technology Engine) which is a true ground-breaking Powered by Tally’s path-breaking restorative technology.
Tally 9 uses C:MuLate which fuses with OODE (Object Oriented Database Engine) which is what confirms its burning speed, power, – C:MuLate (Concurrent Multi-lingual Accelerated Technology Engine) – Tally 9 is the result of a perfect fusion between the Concurrent Multi-lingual Platform and Object Oriented Database Engine.
This technology is what ensures the blazing speed, power and super-reliability. The compelling features and MIS abilities in the Accounting Software Tally ERP 9 will definitely add much needed simplicity to your business operations. The software will give you absolute control over your various processes like inventory, accounting and statutory. There are many more capabilities with your Tally ERP 9 software. There are data synchronization and multi-lingual data capabilities that allow you to do business without the limiting language barriers or gaping geographical confines.
The good news is that you don’t need advanced math skills to understand the world of accounting and Tally accounting software India. Even if you’ve never come face-to-face with financial statements before, you can learn how to master them. All you need to do is get this software that helps you break the learning process down into small steps, working through different concepts at a time. Learning new software can by mystifying to newcomers. Each software program has its own language and it’s own way of doing thing. That’s where Tally accounting software India comes in.
It helps you grow your business and speed up operations. It translates the rules of accounting into understandable language. This program shows you how to keep the books. It shows you how to see costs and expenses, how you can organize and calculate gross and net profit, and where to look to cut costs. Moreover, you will gain an understanding of how budget’s can be forecast and how certain profit ratios can give you vital information. So whether you are an entrepreneur or a manager with new financial responsibilities, Tally accounting software India is there to help you understand how accounting works and how it can work for you and your business. It is amazing software that will organize your books and increase your chances for success!
The Best Home Accounting Software
The bookkeeping tool of choice these days is no longer paper and pencil, but inexpensive Tally accounting software as Well as other home accounting software. More than 3 million small companies use such software programs as Tally ERP 9, Quick Books, MYOB, or Peach-tree Complete Accounting. These programs let you select ready-made charts and easily customization financial statements, as well as pick from a variety of accounting services such as: Inventory, Payroll, Expenses, Etc. All which fit your particular type of business need.
These programs are so comprehensive and easy to use that you don’t need to know any accounting to make them work for you. For example, they offer full, double entry bookkeeping systems without the hassle of double entry. In other words, you need only to enter transaction information once-perhaps in a check, purchase order, or invoice-and the pertinent data will be copied into the appropriate journal, accounts and databases. Tally accounting software and the other home accounting software relieves you of the burden of remembering to debit here and credit there, and because all the math is done for you, the calculations will be error free (not that you would make any!).
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Accounting Professionals Use Tally Accounting Software
In large corporations, the function of Tally Accounting Software used for bookkeeping and accounting if often split into two different departments. In these companies, the accounting department records and processes all the transactions and handles all the money, while the finance department analyzes the numbers generated by the accounting department and creates budgets. In smaller companies, the finance department may handle all of these functions.
If your company has either or both of these departments and you’ve been asked to work with them on creating a budget or Spotting new trends, it’s a good idea to spend some time learning who does what in each department so you’ll know whom to ask what. Who’s Who in Accounting and Using Tally ERP 9 Accounting Software Bookkeepers are responsible for recording each transaction as it comes in and then filing that information in case it is required later.
Accountants (those who would most likely use Tally ERP 9 Accounting Software) take the bookkeeping information and use it to assess how the company is doing. They prepare a company’s financial statement. They also use this information to make forecasts about potential ways the company can grow, for instance by increasing the price of a product or by accelerating the sell-through of inventory. Auditors look at a company’s books at certain set periods to make sure they are in order. Their job is to look for errors and discrepancies. The audit function is so important that many large companies have their own auditors on staff. These auditors conduct periodic internal audits.
Note: Public companies are required to be audited once a year by an outside auditor. This is called an external audit. The controller is the chief executive accountant of the company. This person is in charge of the accounting department and also responsible for managing internal as well as external audits. The controller is not likely to use Tally ERP 9 accounting software as his/her underlings are.
When Dealing With Accounting Software Tally It’s Good To Have an Accounting Method
When considering Accounting Software Tally, it is very important to have an accounting method that is both accurate and convenient to use. Tally accounting software is a software program that maintains all Books of accounts starting from records of vouchers, ledgers, etc. it is perfect for those businesses who deal in multiple products and prices. It is a wonderful software program that handles different types of vouchers like Payment, receipt. It also makes adjustment entries like Journals, Debit notes, Credit notes, Sales, Purchases, Receipt notes, and Delivery notes.
This incredible software follows the double entry system of accounting and this will eliminate any possible errors. Accounting software Tally also allows the user to have a multiple tree like structure groupings. This may seem a little complicated especially if you are just starting your business, however the program is very easy to use and very easy to understand. This software usage has come a long way, since the primitive usage of account methods involving the abacuses and hand written ledgers. The methods of the past were very time consuming and mistakes were often made that led to the numbers being off.
This has been developed to cater to the needs of businesses representing the growth and needs of the customers. There is no chance of errors being made when you use this software. Tally software encompasses multiple products with several innovative products and service offerings for various businesses including small business, chartered accountants and software entrepreneurs. It is a fast, efficient, accurate way to maintain your business records. Accounting software Tally ERP 9 has flexibility and features and can be used for Gold accounting or any other bullion metals or commodities accounting. This is excellent for those who do not have the time to sit down and figure out prices that often change without notice.
I hope you like this latest features of Tally ERP 9 post. Give your important suggestion in comment box. Thanks.