Something about ‘Tally Software’

Explore the world of Tally Software with Tally Solutions Enterprises. Learn about its features like TDL, Inventory management, Barcode, Payroll, TDS, GST compliance, and accounting capabilities. Master the shortcuts for efficient use. Get insights into Tally’s role in related party transactions and enhance your understanding of this powerful enterprise resource planning tool.

Full form of tally ‘Transactions Allowed in a Linear Line yards’ (एक रेखीय रेखा गज में लेनदेन की अनुमति है). Tally software is provided by ‘Tally Solutions Enterprises Resources Planning Company’ in 1986. Tally’s Manager are Shri Bharat Goenka, Mrs. Sheela Goenka, Mr. Tejas Goenka, & Mrs. Nupur Goenka.

Feature of tally

1. Tally Definition Language (commonly known as TDL):

It is a programming language developed by Tally, which is developed by Tally for developers to create custom programs, TDL provides a development platform for users like us, while it is developed by Tally for developers. is provided free of charge. (For 90 days).

Under TDL, Tally developers provide us small software which we integrate with our original Tally and then we can use that small software with current Tally – like there is a TDL – Importing from Excel to Tally, through this we can maintain our data in Excel and import it in Tally, through which we can directly post journal voucher, payment voucher, Receipt Voucher, etc.

2. Inventory: Inventory is usually the largest portion of any entity’s current assets.

A. Reorder Level

B. Price Levels and Price Lists

C. Bill of Material (BOM)

3.  Barcode:

Bar code passes through the scanner; it will identify the product and Tally will automatically create an Outward Entry / Delivery Invoice / Invoice for those stock items. The advantage is that everyone gets real time updates of stock availability of finished goods, production entries are posted automatically, dispatch entries are posted automatically.

4. Payroll in Tally:

 Tally Payroll is integrated with accounting to give the user the benefits of simplified payroll processing and accounting. Tally Payroll enables users to set up and implement salary structures, from simple to complex, as per the needs of the organization.

Benefits of using Tally Payroll

1. Accurate and timely payroll processing.

2. It is very easy to track and review employee’s absence and calculate salary according to attendance.

3. The time spent in salary processing, manual and paper work can be reduced to a great extent.

5. TDS Compliance:

The TDS functionality in Tally has the following features

1. Quick and easy to install and use

2. Creating a single expense account for multiple nature of payments

3. Create Single TDS Duty Ledger for Multiple Nature of Payment

4. Single TDS deduction for multiple nature of payment

5. Book in a single voucher and deduct TDS

6. Simple and user friendly

7. Single TDS deduction for multiple vouchers

5. GST Compliance:

Tally provides GSTR-1, GSTR-2, GSTR-3B and E-Way Bill related reports. GSTR-1 Report in Tally is designed exactly as GSTR-1 to make life easier for the users.

Accounting With Tally ERP

A) VOUCHER ENTRY

(Under Voucher Entry we can create the following vouchers)

1. Contra Voucher

When the transaction is between the bank of his business or between cash or bank.

2. Payment Voucher

When we pay someone through bank or cash.

3. Receipt voucher

 When we receive payment from someone through bank or cash.

4. Sales Voucher

 When we sale goods to someone, then we make this voucher.

5. Purchase Voucher

 When we buy goods from someone, then we make it.

6. Journal Voucher

Apart from the above, we do entry of other transactions in this voucher.

7. Inventory Voucher

We enter here for movement of goods, Godown transfer, production entry, Consumption entry.

B) UTILITY

(Under this, other work related to your banking comes)

1. Doing Bank Reconciliation.

2. Making Register of Cheques.

3. Instead of writing on Cheques, do it with Tally.

4. Details of Post-dated Cheques or its summary.

C) Report:

1. Balance Sheet

2. Profit and Loss Accounts

3. Stock Summary

4. Ration Analysis

Some Shortcut in tally