Tally.ERP 9 Best Accounting Software in India
Accounting & Finance
All your accounting requirements and more are supported in Tally.ERP 9. Accounting, also known as bookkeeping, is the recording and classifying of financial transactions into the books of accounts and associated registers.
Let us look at why businesses maintain books of accounts:
• To fulfill legal requirements
• To pay taxes and meet other statutory requirements
• To keep the business running by managing receivables & payables, cash, bank…
• To keep a watch on the pulse of the organisation
• To respond to queries by locating the right transaction quickly
We have been perfecting the accounting module for over twenty years, to deliver not just an accounting software, but a powerful business management software for all your needs:
• With the entry of a voucher (this is what we call all accounting transactions) all books of accounts, all reports, all totals & sub-totals are updated instantly. There is nothing more that needs to be done – whether you are inserting a forgotten entry, or correcting one
• Taxation requirements of all the States of India are available, in the prescribed formats
• Supporting tasks like reminder letters, delayed interest, ageing, bank reconciliation
• One single dashboard to view all important business ratios
• Drill down from any report, even the Balance Sheet, right to any voucher, or filter and search
• Data entry in the language of the users choice, and report in any other language (from the languages supported)
• Mark vouchers that are draft as ‘optional’ and convert these to final, with one click
- Financial Management & Controls
Your Lifeline – Finance
at Your Finger Tips
Tally.ERP 9 comes with rich features and financial reports to give you the necessary control over your business. A few of these are listed below:
• Funds Flow and Cash Flow reports – help you locate bottlenecks
• Bank reconciliation –keeps your bank books in sync, and helps identify non-cleared instruments
• Customer Credit Limits –to limit risk of default and large losses
• Budgets – keep tabs on projected expenses against actuals
• Mark vouchers post-dated – these will reflect in the books of accounts only on/after that date
• For instances where reports have to consider a transaction that has not happened (say salaries
• For this month that get paid the next month) vouchers (called ‘reversing journals’) can be marked to ‘disappear’ for reports post a specific date
• “Scenario” management–helps you with your business forecasting and planning. You can use optional reversing journals and memorandum vouchers, to aid in recording provisional entries– useful for interim reports
• Multiple inventory valuation. You can decide one valuation method for the business, and be able generate financial reports using any other valuation method – as the statutory method may not be appropriate for your needs, your bankers and for other reasons
• Cash balances can go negative–you can get warned if this is about to happen, or see reports and make the necessary corrections
• Several business exceptions are available (negative stocks, negative ledgers) – for you to exercise control over these activities
• A one-screen business ratios with drill down right up to the transactions – helps you to correct course frequently
• Item wise and document wise profitability statements to control revenue leakage and inappropriate pricing
• Internal audits are supported with audit controls – authorised users can mark vouchers as ‘audited’ and can get to see reports on changes made post-audit, as well as the name of the person who made the change
Control & Optimise Your Costs
Using Tally.ERP 9
Costing involves the recording, classifying and summarising of expenditures/charges as applied to products or services. The function of costing involves the planning and control of such costs and the enabling of decision-making by management.
Businesses can benefit from essential Costing facilities in Tally.ERP 9:
Optimise Costs Using Cost Centre & Categories
For best results, a business assigns its controllable costs to cost centres like Branches, Departments, Projects, Products, Persons and so on and this is fully supported by Tally.ERP 9. For example, besides the ledger-wise accounting allocation, a transaction may be allocated amongst different Branches. Tally.ERP 9 allows the comparison of Cost Centres to arrive at true performance.
Cost Categories—a cluster of related Cost Centres—allows parallel allocation of the same transaction in multiple dimensions.
Cost Centre Reports
This report displays the summary of all the Cost Centres under a cost category.
Cost Centre Break-up:
This report displays Ledger and Group summary information for the selected Cost Centre.
This report displays the summary information of all Cost Centres for the selected Ledger.
This report displays the summary information of all Cost Centres for the selected Group.
Automatic Cost Allocation & Control
Cost Centre Classes are used to automate Cost Centre allocations in transactions. You can use Cost Centre classes if you do not wish to manually allocate amounts to Cost Centres in each entry.
Cost Estimation & Control
Cost estimation is the process of pre-determining the cost of a certain product, job or order. Such pre-determination may be required for several purposes, including:
• Budgets & Variance
• Preparation of financial statements (valuation of stocks)
• Job Costing
Budgets & Variance:
Budget-the detailed plan of income and expenses expected over a certain period of time – can provide guidelines for managing future investments and expenses.
To provide crucial managerial control, Tally.ERP 9 provides a flexible system of Budgets for Group, Ledger or Cost Centres. Tally.ERP 9 allows the creating of multiple Budgets for different purposes such as Sales budget, Expenses budget, etc. You can compare the actual performance against the budget and also get a variance report.
Tally.ERP 9 allows you to view the effects of different stock valuation methods on the closing stock value, in a columnar display.
Each stock item can be set up to have a different stock valuation method (e.g. Average Cost, Average price, Last Purchase cost, Last Sales price, FIFO). Tally.ERP 9 displays stocks in any or all the valuation methods dynamically and simultaneously, without any complicated procedure.
Job Costing is a form of specific order costing which applies to a job undertaken to customer specifications. It applies to industries which produce definite products against individual orders: construction, manufacturing, printing, automobile, etc.
Tally.ERP 9 offers comprehensive Job Costing functionality that helps businesses to estimate costs and track them.
- Multi-Cost/Profit Centres
- Multi-Budgets & Scenarios