BBA-4th Sem

Vocational Course: - Basics of Tally and Its Applications

What is Tally ?
o Tally is an ERP accounting software package that is used to record day to day business data
of a company. The latest version of Tally is Tally ERP 9.
o Tally ERP 9 Software is one of the most financial accounting systems used in India. For
small and medium enterprises, it is complete enterprise software. It is a GST software with
an ideal combination of function, control, and inbuilt customizability.
o ERP 9is the best accounting software. This software can integrate with other business
applications like Inventory, Finance, Sales, Payroll, Purchasing, etc.
o Tally software is used for storing all the business transactions of each account in detail. Tally
has made calculations simple. Tally has become part of all businesses.
o Small scale enterprises believe that Tally software carries out efficient business transactions,
provides accuracy, and saves a lot of time.
o Manual calculations are time-consuming; that's why all the organizations use Tally.
o Because of Tally, the chances of error are reduced to a great extent. The Tally software can
learn at home or designated institutes. It is self-explanatory and easy to learn.
o Tally is cost-effective and time-saving. It also ensures accuracy in business management. It
enables the digitalization of bills and signatures, thus staying up-to-date with the latest
technology.
o Using the Tally ERP 9 Training, the owner of a small shop can also manage his store, keep
records of customer bills, and manage financial transactions efficiently.

Features of Tally
The features of Tally are as follows:

o Tally is largely considered the best because it is easy to use, has no codes, robust and
powerful, executes in real-time, operates at high speed, and has full-proof online help.
o Tally is also called multi-lingual tally software because Tally ERP 9 supports multi-languages.
In Tally, accounts can be maintained in one language, and reports can be viewed in other
languages.
o Using the Tally, you can create and maintain the accounts up to 99,999 companies.
o Using the feature of payroll, you can automate the employee records management.
o Tally has the synchronization feature, so the transaction which is maintained in multiple
locations offices can be updated automatically.
 o Tally is used to generate consolidated financial statements as per the requirements of the
company.
o Tally can manage single or multiple groups.
o Tally software is used to handle financial and inventory management, invoicing, sales and
purchase management, reporting, and MIS.
o The feature of Tally customization makes the software suitable for distinctive business
functions.

Advantages of Tally
The advantages of Tally are as follows:

Data reliability and security: In Tally, the entered data is reliable and secure. There is no scope of
entering the data, after being entered into the software.

Payroll management: Several calculations that need to be made while disbursing salary to
employees. Tally is used to maintain the financial record of the company that includes net
deduction, net payment, bonuses, and taxes.

Management in the banking sector: Banks use Tally to manage various user accounts, and also
calculate interests on deposits. Tally support ensures ease in the calculation and makes banking
simpler. Tally Support can make the calculation easy and banking simpler.

Regulation of data across geographical locations: Tally software is used to manage the data of
an organization globally. Tally can bring together all branches of the company and makes the
common calculation for it at large. So no matter which location a company's employee has access,
it will be uniform throughout.

Ease of maintaining a budget: Tally is used to maintain the budget. Tally is used to help the
companies to work and manage expenses by keeping in mind the total budget which is being
allotted.

Simple tax returns filing: Tax GST is used to ensure that the company complies with all GST
norms. Tax GST takes care of service tax returns, excise tax, VAT filing, TDS return, and profit and
loss statement for all small businesses.

Audit tool for compliance: It acts as an audit tool. It is used to carry out regular audits of
companies. It does a thorough compliance check towards the financial year beginning and ensures
that all the monetary transactions are smoothly being carried out.

Remote Access of Data: In Tally, employees can access the financial data using the unique User ID
and password. The logging and access of data can be done by sitting at the comforts of one's
office or house.
Quick Access to Documents: Tally can save all invoices, receipts, bills, vouchers in its archive
folder. Using the Tally, we can quickly access any of the previously stored documents. We can
immediately retrieve all the billing related files.

How to start Tally

Now, double click on Tally ERP 9 icon from the computer as follows:

Or we can follow the path: Start > Program > Tally.ERP 9