Features of Tally

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Features of Tally

The features of Tally are as follows:

  • Tally is largely considered the best because it is easy to use, has no codes, robust and powerful, executes in real-time, operates at high speed, and has full-proof online help.
  • Tally is also called multi-lingual tally software because Tally ERP 9 supports multi-languages. In Tally, accounts can be maintained in one language, and reports can be viewed in other languages.
  • Using the Tally, you can create and maintain the accounts up to 99,999 companies.
  • Using the feature of payroll, you can automate the employee records management.
  • Tally has the synchronization feature, so the transaction which is maintained in multiple locations offices can be updated automatically.
  • Tally is used to generate consolidated financial statements as per the requirements of the company.
  • Tally can manage single or multiple groups.
  • Tally software is used to handle financial and inventory management, invoicing, sales and purchase management, reporting, and MIS.
  • The feature of Tally customization makes the software suitable for distinctive business functions.

Advantages of Tally

The advantages of Tally are as follows:

Data reliability and security: In Tally, the entered data is reliable and secure. There is no scope of entering the data, after being entered into the software.

Payroll management: Several calculations that need to be made while disbursing salary to employees. Tally is used to maintain the financial record of the company that includes net deduction, net payment, bonuses, and taxes.

Management in the banking sector: Banks use Tally to manage various user accounts, and also calculate interests on deposits. Tally support ensures ease in the calculation and makes banking simpler. Tally Support can make the calculation easy and banking simpler.

Regulation of data across geographical locations: Tally software is used to manage the data of an organization globally. Tally can bring together all branches of the company and makes the common calculation for it at large. So no matter which location a company’s employee has access, it will be uniform throughout.

Ease of maintaining a budget: Tally is used to maintain the budget. Tally is used to help the companies to work and manage expenses by keeping in mind the total budget which is being allotted.

Simple tax returns filing: Tax GST is used to ensure that the company complies with all GST norms. Tax GST takes care of service tax returns, excise tax, VAT filing, TDS return, and profit and loss statement for all small businesses.

Audit tool for compliance: It acts as an audit tool. It is used to carry out regular audits of companies. It does a thorough compliance check towards the financial year beginning and ensures that all the monetary transactions are smoothly being carried out.

Remote Access of Data: In Tally, employees can access the financial data using the unique User ID and password. The logging and access of data can be done by sitting at the comforts of one’s office or house.

Quick Access to Documents: Tally can save all invoices, receipts, bills, vouchers in its archive folder. Using the Tally, we can quickly access any of the previously stored documents. We can immediately retrieve all the billing related files.

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