Tally, an accounting software, has been widely accepted globally including India and many countries. Gone are the days when people used manual accounting techniques to solve their accounting hurdles. Now, with the advent of Tally ERP software, the financial transactions have reached heights.
The base and the conventional methods to record financial dealings have changed due to the advent of Tally. Many organizations have started using Tally software to reduce their work into half. There are many inculcated uses of Tally software.
Tally software benefited both profit and non-profitable organizations with increased productivity. The organizations have reached their business goals easily with the Tally software. Accounting departments are moving through a hassle-free work that brings in work satisfaction with perfect records too. Here are a few notable uses of Tally software that helps the enterprise to understand why choosing Tally software is best.
- Daily accounting
- Balance sheet finalization
- Inventory maintenance
- Generating different reports for tax filing
Apart from these uses, there are few other things to know about it. In particular, Tally software has around six different functions segmented to manage accounts and financial transactions. All six entries make the process even easier than manual accounting.
- Contra is the segment specifically meant for cash and bank related entries.
- Payment is the segment meant for the payment related entries.
- The receipt is the segment meant for the receipt related entries.
- Journal is the segment meant for entries excluding cash or bank statements.
- Sales segment is meant for sales billing
- Purchases segment is the sort of entry that is used for purchase billing
Ratio analysis, the perfect gateway of Tally.ERP 9
, displays the important ratios based upon the information input by the user while creating vouchers. Ratio analysis helps in making good and quicker decisions about the business or clients' business after comparing the ratios.
Whilst thinking in the business perceptive, Tally software brings many ideal goals and fortune to the enterprise choosing it.