Bharat Goenka developed an accounting software named ‘The Accountant’ without any codes. Together he and his father started Peutronics in 1986 – it was renamed Tally from 1988. The latest version is Tally 9, the world’s first concurrent multilingual business accounting and inventory software.
Contents
What is Tally ERP 9
In this Tally.ERP 9 is one of the most popular accounting software used in India. In today’s everyone knows it is complete enterprise software for small and medium enterprises. Tally.ERP 9 is an ideal Business Management Solution and GST Software with the perfect combination of Function, Control and In-built Customization. Tally.ERP 9 allows business owners and their associates to interact more in discussions related to accounts.
Tally ERP 9 is a complete product that retains its original simplicity, yet allows accounting, finance, inventory, sales, purchases, sales Provides comprehensive business functionality such as Point of Manufacturing. Cost, Job Costing, Payroll and Branch Management along with compliance capabilities for Excise, TDS, TCS, and now GST!
How to use Tally.ERP 9?
As we know that tally is nothing but accounting in digital format. Whereas maintaining the accounts in the manual books, we write the accounting entries as debits and credits. In Tally we make entries in the same way. The whole thing can be depicted as the installation of some machinery in the workplace.
Process 1: Installation
(While buying the machine, we first install it for use) Tally software may be purchased and downloaded from the Tally website. We may download a 30-day trial version if we’re not sure if we want to use it yet. So that tally 9 is only for Windows.
Process 2: Navigation
(After the installation is complete, we use its hardware support or software support to use the machine) Tally.ERP 9 is designed for navigating using keyboard. Whereas we can click on any option we want, everything in Tally has a keyboard shortcut.
Process 3: Create a company
(After getting some information about the machine, we set the program to make it work) to use tally, we will first need to create a company in the program. Even when we are not using Tally professionally, we still need to form a company.
Process 4: Usage
(Now since we were going to use the machine, it becomes significance to know the usage of the machine first) Operations How to use Tally.ERP 9 in detail.
Creating Ledger
Understanding what Ledger is for: Ledger in Tally records all the transactions in that account? A ledger will need to be made for each account with which they do business. Tally addition two ledgers by default: “Cash” and “Profit and Loss Account”. We can create as many other lasers as we want.
Voucher making
Understand the purpose of a voucher: It is a document that contains the details of financial transactions. These are used for all aspects of the business, from sales to deposits. Tally.ERP 9 comes with several of the most popular vouchers pre-configured for use.
Latest version of Tally ERP 9
- First version of tally 4.5 was the version of Tally. It was released in 1990. This software is based on MS-Dos.
- After this second version of tally 5.4 was the version of Tally. It was released in 1996. It was a graphic interface version.
- This version of tally 6.3 was the third version of Tally. It was released in 2001. This version was window based. It carry printing and implementation with VAT (Value Added Tax).
- And the next one is tally 7.2 was the version of Tally. It was released in 2005. It was added state wise with statutory complimentary version and new features of VAT rules.
- On the other hand tally 8.1 was the next version of Tally. And after that it was developed with a new data structure. It was built with new features of Point of Sale (POS) and Payroll.
- The next version was Tally 9. It was released in 2006. As you know this version was released due to bugs and errors. And this latest version has maximum features such as TDS, FBT, Payroll, E-TDS filling, etc.
- In today’s time the latest version of tally is ERP 9. It was released in 2009. Tally ERP 9 package is providing maximum features for small to large business industries. It also updates with new features of (Goods and Services Tax) GST.
History of Tally ERP 9
Tally Solutions was founded in 1986 by Shyam Sundar Goenka and his son Bharat Goenka after the family’s cotton business was destroyed by a fire. It started as Peutronics Financial Accountant, an accounting software application.[5][4] The company was incorporated in 1991 and changed its name to Tally Solutions in 1999.[6][7][ 8]
If we talk about then Shyam Sundar Goenka was running a company which supplied raw materials and machine parts to plants and textile mills in southern and eastern India.
Unable to find software that could manage his books of accounts, he asked his son, 23-year-old Bharat Goenka, a mathematics graduate to make a software application that could handle financial accounts for his business. And the first version of the accounting software was launched as an MS-DOS application. Finally, it had only basic accounting functions, and was named Peutronics Financial Accountant.
Also check:
What is the Difference between tally and manual accounting?
- Tally software is a computerized accounting method for recording financial statements electronically.
- In the Manual accounting is a system which uses registers and manual books to keep records of business activities and financial transactions.
- If you see then only input of data is required; the calculation is done automatically by the computer.
- All calculations are done manually by one person.
- comparatively faster
- slow
- All data content is recorded, saved and can be backed up for future purposes.
- backup is not possible
- It is also ready for use at the click of a button.
- It is generated manually at the end of the period, month or quarter.
Features and Uses of Tally ERP 9
A trading accounting software helps in maintaining accounts and performing other accounting and other analytical operations for the management of an organization. some features as below
Multilingual software
This is a software that supports multi-languages including 9 Indian languages. In the software, accounts can be maintained in one language and transaction reports can be viewed in different languages without any extra effort.
Multiple Accounts
In Tally, one can create up to 99,999 companies and create multiple accounts. It can also manage single or multiple groups.
Popular Software
This is the best accounting software because it has easy-to-use methods, no code, is robust and powerful, executes in real time, operates at high speed, and has full-proof online support Is.
Synchronization
Tally can maintain the transactions created across offices across multiple locations and update them automatically.
Financial Statements
Tally can generate consolidated financial statements in one click as per the requirements of the company.
Payroll
Accounting software is also used to handle financial and inventory management, invoicing, sales and purchase management, reporting and MIS for business. It is also used to generate various report files for tax filing, invoicing etc.
Benefits of Tally ERP 9
- Everyone knows tally is the world’s most powerful concurrent multilingual integrated business accounting software.
- Users can make their own names for their accounting data once the voucher entries are made.
- Tally allows its users to access their account remotely using the http://Tally.NET feature, which permits users to access their account over one of their Internet connections.
- A single connection may support multiple users.
- Users may start recording transactions and generating invoices within minutes of installation.
- Tally contributes comprehensive solutions revolving around accounting principles, inventory and data integrity.
- ERP9 provides the flexibility to make masters on the go as very often businesses need to create different types of vouchers.
- Tally accounting software can connect with various Microsoft applications flawlessly.
Differentiation between Tally ERP 9 and Tally Prime
- Access company data by particularly Tally ERP 9 data path.
- In tally prime access company data from any path or drive or remote company and view data status like migration required or data corrupted.
- Multi-tasking may be done by opening multiple Tally.ERP 9 instances.
- Multi-tasking may be done in a Tally prime instance. Check the Open Reports in Go To feature.
- Multi-tasking may be done by opening multiple Tally.ERP 9 instances.
- Multi-tasking may be done in a Tally prime instance. Check the Open Reports in Go To feature.
- In that Tally.ERP 9 the user had to make minimum 3 clicks to open each of these.
- Gateway of Tally > Display > Accounts list.
- The ‘Chart of Accounts’ option permits you to access all your masters including groups, ledgers, voucher types, cost centers, etc. like accessible from a single screen.
Conclusion
As an accounting cum ERP system, Tally’s focus is on delivering total workflow automation, aiming to contribute relief to accountants and finance experts by removing huge responsibilities from their shoulders. And GST may be given a reference here where Tally prime not only eased travel on GST routes by providing return filing module, it also updated its software solution such as when changes were brought in GST law. The text can be updated to e. Way Bill Prep Module in Tally’s latest software module.
FAQs
Tally ERP 9 is one of the most popular accounting software that is used in India. It is also complete enterprise software for small and medium enterprises. Tally. ERP 9 is an ideal business management solution and GST software with a perfect combination of functions, controls and in-built customizability.
The simple answer is yes, you can do single user tally on more than one computer.
- Tally ERP 9 It is used for Peer to Peer data access.
- Tally Server 9 It uses server based data management.
- ERP 9 is a free software
- ERP 9 Gold license works for Tally Server 9.
- Tally carries out several processes on a first come first serve basis.
- Using Tally Server 9, Tally executes multiple processes simultaneously at the same time.
- Login to Tally. ERP 9 From Anywhere
- Go to Company Information. > Login as remote user, if you are using licensed version of tally. ,
- Enter your Tally.NET ID and Password.
- Select the required remote company. On successful confirmation, the remote user details are displayed in the Gateway of Tally screen.
The objective of tally is used to prepare consolidated financial statements as per the requirements of the company. Tally can run single or multiple groups. If you talk about the tally software is used to handle financial and inventory management, invoicing, sales and purchase management, reporting and MIS.
Tally is a computer software widely used by small and medium businesses for accounting purpose. Although Tally has other features as well but it is popularly known as an accounting software. After that release of Tally ERP version, this software is not just an accounting software.
The performance of SAP is better than Tally. Basically, Tally is a basic ERP software whereas SAP is an advanced ERP software. SAP is fully integrated, sophisticated, well tried and tested ERP software and is also accepted globally.