Tally GURU Latest Features

Tally GURU is one of the most necessary accounting software that is commonly used in India, without which an accountant cannot survive in his/her field. As this deals with the following features,

Ø  Daily accounting

Ø  Balance sheet finalization

Ø  Inventory maintenance

Ø  Tax filing

Tally’s advantages:

We can make ledgers and pass entry, automatically ledgers, trail balance and balance sheet gets updated. Where as in normal accounting we have to pass entries, make ledgers, make trail balance, make profit and loss, make balance sheet which is comparatively a longer task.

In tally there won’t be that much of errors when compared to normal accounting, while the balance sheet is being tallied it will be a tougher task in normal accounting when compared to tally. Hence tally plays a vital role in accounting.

TALLY GURU

A business cannot operate in isolation. It needs a society to operate which is governed by a government which has different types of taxes on a business as it is a commercial activity. Previously Income Tax, VAT, Excise, Customs and Service Tax were taken care of by Tally. Now GST is also included in Tally’s latest version. You can upgrade Tally to have the GST functionality right now. Now you can also create GST entries in Tally as well as GST Returns in Tally without using any other software. The process is simple and easy and almost same as previous taxation entries. If you are covered under Audit as per Income Tax Act, 1961 then there are different functions for that also such as Form 3CD, Form 3CA, 44AB Audit, and Form 3CB and so on. If you have taxation functions enabled then billing is done including taxes on the sales or purchases. At the end of the year or a particular accounting period tax credit or tax payable automatically gets calculated by Tally. Here there are different features like Ratio analysis which displays many important ratios on the basis of information which is entered, some other features are like Current ratio, quick ratio, debt/equity ratio and inventory turnover. These features give more comfort and ability for the users to make more easy accounting ways, moreover ratio analysis in tally helps the users to make quick decisions about their business or their client’s business whatever the case may be.

The updated version of tally is used in 100 different countries apart from India, from a personal accounting to shop to manufacturing enterprise, Tally can do all of it.