What is Tally Software and how it is used? - Letsdiskuss
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Anonymous

Posted 13 Jun, 2019 |

What is Tally Software and how it is used?

Mazenet tally

Digital Marketing Trainee | |Updated 13 Jun, 2019

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.


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 :-

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.
In order to know more about Tally software, Mazenet Technologies has a way for you.

Ruhi Khan

@student | Posted 13 Jun, 2019

Tally is a product by Tally Solutions Pvt. Ltd which is an Indian MNC. It's main product, Tally ERP 9 is a software that handles accounting, inventory management, tax management, payroll, etc. It comes with both single user & multi-user licenses depending on the size of the business it is to be used for.





Estimating job costing
Storing details and managing inventory items
Managing payroll
Filing a tax return, managing profit, and loss statement, preparing a balance sheet, trial balance, cash-flow report, etc.
Maintaining budget scenarios
Calculating interest on the outstanding amount
Managing data over different locations and synchronize it
For Accounting Tally ERP 9 offers
Cost/Profit Centers Management
Invoicing
Budget/Scenario Management
Other features like Cheque Printing, etc.