Tally

TALLY . ERP9 FEATURES Advantages of T ally. ERP 9 Powerful remote capabilities that boost collaboration at large(p) to find qualified personnel Easy to customize Low cost of ownership via quick implementation, Tally Integrator, Support Centre Functions & Features Accounting All your history regardments are supported and more. Accounting, alike k like a shotn as bookkeeping, is the recording and classifying of financial transactions into the books of accounts and associated registers.Let us look at the rough of the haves for which businesses maintain books of accounts To fulfill profound requirements records as per standards and practices To pay taxes to various bodies statutory needs Keep the business running portion out receivables & payable, cash, bank Keep a watch on the wink of the organization key performance indicators Respond to queries to locate the right transaction immediatelyWe have been perfecting this simple recording history from everypla ce twenty yrs. All this to have a bun in the oven better, winged and more flexible slipway to fulfill your needs, not just maintain books of accounts. A fewer examples will illustrate With the entry of a voucher (this is what we roar all accounting transactions) all books of accounts, all reports, all totals & sub-totals are up escortd instantly.There is nothing more that needs to be d nonpareil 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 splasher to look at all important business ratios Drill down from any report, even the Balance Sheet, right to any voucher or slaver and search entropy 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- wit h one button click Financial Management & Controls Tally. ERP 9 comes with rich features & financial reports that give you the necessary management and control of your business. A few of these are listed below Funds Flow & Cash Flow reports help you ocate bottlenecks Bank reconciliation keeps your bank books in sync, and direct unclear instruments Customer reference book Limits to limit risk of default and large losses Bud lay downs keep tabs on projected expenses a obtainst tangibles Mark vouchers postdated these will reflect into the books of accounts only on/after that date For needs where reports have to consider a transaction that has not happened (say salaries for this month that jerk off paid the next month) vouchers (called reversing journals) can be marked to disappear for reports post a ad hoc date Scenario management helps you with your business forecasting and political programning. You can use optional, reversing journals and memorandum vouchers, to a id in recording provisional entries that are useful for meantime reports Multiple inventory paygrade. You can dissolve 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 decisions Cash balances can go negative you can get warned if this is about to happen, or see reports and take form the necessary corrections Several business exceptions are available (negative expects, negative ledgers) for you to exercise control over these activities A one-screen business ratios with drill down right up to the transactions help you to correct course frequently point in time wise & document wise profitability statements to control revenue leakage and inappropriate pricing Internal audits are supported with audit controls authorized users can mark vouchers as audited and can get to see reports on miscellanys made post audit, and the name of the person making the change enrolment Accounting & Management If you deal in goods, of any type, youll appraise the Inventory capabilities in Tally. ERP 9.You can comprehensively record all types of inventory transactions, using goods communicate notes, delivery notes, stock journals, manufacturing journals and physical stock journals. All stock movements are fully recorded and maintained in stock registers. Developed for all manufacturers, distributors, wholesalers or traders a small list of features are briefly exposit below Manufacturers Bill of materials and Manufacturing Journals, to record material conversions Compound bill of materials support, for social units that contain assemblies Multiple locations (go downs) Excise for manufacturers, including all documentation and invoice Costing for jobsDistributors Wholesalers Multiple worth lists, with effective dates of applicability Use multiple units of measure (say KGs & grams) Dual units of measure (say KGs and bags, to support variations as happens in commodities) Traders High speed billing, with support for POS printers Bar principle support Automatic application of taxes Service billing service tax Integrated sales return in bills Print bills (and any other document) in the customers language Common You can choose to de-link the computed inventory value to automatically appear in your financial statements and enter this figure manually. Stock ageing reports, to identify slow and non-moving stocks Invoice profitability reports to keep a pulse on sales Multi-currency transactions buy and sell across the world with integrated forex gain/loss calculations Physical stock take records to adjust physical vs. actual stocks Maintain batch expiry details Purchases Payables from Order to Payment Tally.Read also Recording General Fund Operating Budget and Operating TransactionsERP 9 delivers the entire purchase cycle whether the need is the complete purchase order goods pass rejections & returns advances, debits & payments or a single payment entry, fulfilling all needs. To ensure that you have the right stocks and minimize carrying costs, Tally. ERP 9 delivers the pastime to improve purchase orders Define Re-order levels as a definite deed or based on consumption Define minimum quantity to order as a definite number or based on consumption Pull up a report that shows the stock position, including complete details of open purchase orders, sales orders that need to be fulfilled check on past purchase history, and accordingly place orders Optionally stagger delivery dates in the POWhen receiving goods Make entries in consent with supporting documentation, including errors your suppliers could have made (say of multiplication & sharpshoot off) Incorporate additional costs Automatically manage input taxes Flexibility allows receipt of goods, quantities and rates dissimilar from that ordered since this is common in substantial life R ecord samples & free items (using different actual & billed quantities) Multiple receipts for one order or one receipt for multiple orders, or against verbal orders In case on that point is a need to add other costs (say coolie and cartage) these additional charges can be apportioned to the cost of goods purchased. Supplied goods may not match your needs and these are managed by the Rejections Out inventory voucher. Supplier dues, input taxes and inventory positions are updated.Suppliers often prefigure likely profits, which may not be met. In case such assurances are made, you can look at Item profitability reports, and get the facts right. You could then negotiate a rebate and record this as a debit note. Keep tabs of how much is due to whom, when. Manage advances, payable s & postdated checks. Ensure there are no errors in payments print checks from Tally. ERP 9. gross sales & receivables from Order to Receipt The lifeline of a business, efficiencies in sales operations, bo th of goods & services, directly impact increase and profitability. The need to optimize and keep a close watch here requires exceptional capabilities from your business IT system and Tally.ERP 9 meets these demands. The sales process is supported with the following documents Quotations records of quotes Sales orders accepted customer orders Deliver Notes documents that ac confederacy goods Sales Invoices/Cash Bill to record the sale Credit Notes for financial adjustments Rejections in for goods returns Receipts for advances and receipts Do you have cash sales (sales across the counter)? With support for Point of Sale printers, bar codes and receipts in multiple tenders, you POS enable your business at no additional cost. Product sales may come with added services and the integrated product & service billing will close this.Enforce credit limits, where needed. along with the Payment Performance of Debtors report you can identify persistent problems and take necessar y business decisions. Interest for delays & reminder letters aid in collection. For businesses engage in Excisable goods, you get full support for Excise for Traders & Manufacturing Excise matter of fact a business could be both Make multiple deliveries from one order, or one from multiple orders this common need is available across all documents of the sales process. Do you have multiple classes of customers? You can easily setup multiple prices (even in advance and prepare the date from which they are effective).Discounts against the line, or for the document, additional charges as a percentage or lump sum, automatic round off of bill totals, automatic computation of VAT & Service tax, returns & transfers are all available. Need to verify that you are making the desired sales margins? Item wise and bill wise profitability reports will help you keep tabs. Multi-company A set of account books represents a company in Tally. ERP 9. Therefore, if you decide to maintain your pers onalized accounts you would create a company. Many businesses do have more than one legal entity and so will require multi-company support. Since each company is a clean-cut data base, building technical support for this is not difficult.However, with multiple companies, several needs often arise beyond the mere facility to record transactions that need to be addressed,. Principally, you would like to look at consolidated reports since these are often more meaningful to you than statutory reports of each company individually. You can hence group companies and have the reporting ability as if this were a company. You could also group these on demand or as required. So Partner A, could group companies in which he is a partner (say Companies P, Q R) and Partner B could have a group with Companies Q, R Y. With multiple companies, you would probably need to compare them to see relative figures. In Tally.ERP 9, while seeing a report for Company P, you could pull up another column alo ngside that shows figures from Company Q (and any more companies). You can now continue to drill down the report and continue to see these comparisons. Quiet often with multiple companies, the need arises to create the similar ledgers post transactions to more than one company. This can be accomplished with the click of a few keys you save immense time by not having to re-enter data and void data entry errors. In special circumstances, where there are needs like a Purchase Order entry becoming a Sales Order in another company, our Service Partners will be able to work with you, understand item requirements and build a solution around the Data Synchronization capability.Security With multiple companies, possibly including personal accounts, you may need to control who gets access to which companies, and to do what. You can set up users, grant or turn down access and these are defined for each company. Remote Access You choose to specify which company is accessible remotely. You choose which remote users have access you decide what access a remote user gets. Central User Management Users come and go. You might also have a password policy requiring users to change passwords every few weeks. You can take advantage of the ease of central user and password management that Tally. NET identities carry and even remotely manage these while not in office. Multi-Period A financial year is truly suited to business reporting and statutory needs.In reality, business spans across financial years, so real needs get constrained by these financial periods. As an example, receivables (Sundry Debtors) is an area that is frequently plagued by confusion the need to send reminders, resend statements of accounts and persistent follow up may require that you need to look at figures from date x to date y and one or more financial periods can be between these two dates. With Tally. ERP 9, you can specify any date range and perform any operation that you need to. Comparison of Pe riods, say Q2 this year vs. Q2 last year, often required for shareholder and statutory reporting are easily accomplished. You may also need to break up periods into smaller chunks, instead of the year.While looking at the reports, you can instantly take care them broken into periods of your choice (daily, monthly, quarterly etc). For studying trends, locating unusual figures, or comparing activities for different periods, this is invaluable. Take the case of budgets. Say for a five year long project and for various ledgers you need to have a budget set up for five years, another for each year, another two that are 2 ? years you can setup such budgets, and compare budget vs. actual for any In effect you can zoom out as wellspring as zoom in to any period of your choice. Any changes made or a transaction inserted anytime, are instantly carried forward no matter how faraway back these are made (from a security standpoint, you might need to restrict data entry or hanges to transact ions prior to a specific date this is available via the User security control features). Multi-Cost/Profit Centers As a business transacting in multiple currencies, you will appreciate the effortless usability of Tally. ERP in this area. Say, you make purchases from a supplier, and transact in a currency different (say $) from that of your base currency (say INR). Youd like to keep track of the dollars due, as well as the $ amounts due for each bill. This way you get to know your foreign currency requirements as well as cross check the accounts in $. At the same time you would want to see outstanding and other financial reports in INR.Since this figure depends on the exchange rate as on the date of the report, generating these are time consuming. With Tally. ERP 9 all reports are generated automatically all that is needed is that the forex rates be available for reference. Foreign exchange gain & loss entries are posted automatically (as a notional entry), whenever any report is t aken. The day you decide to make these entries regular (say end of the financial year) you can post the required accounting Journal (with software assistance). Importers and exporters maintain bank, customer & other accounts in foreign currencies (like the example of the supplier) you can maintain these in any currency required.As a break or subsidiary of a foreign entity, or for reporting, you may need to generate reports in a currency other than the base, at some exchange rate. This capability is available across all reports. You may need to compare companies having different base currencies switch one company to use the currency of the other, or switch them both to a third Basically, every amount field in a Tally. ERP 9 voucher is multi-currency enabled. This allows you to conduct business in ways that manual systems permit and most IT systems fail to provide. It is possible for a supplier to, say, send a quote for items in INR, some in US$ and some in . Multi-units Most busin esses will use several units of measure, even if the belief that just one (pieces) is used.Take purchases you could order in the units you are comfortable with, and you elate goods in a different unit for e. g. , order in Pcs, receive in KGs. Similarly you could record sales in the units that your customer is comfortable with. The flexibility of this compound unit of measures is to ensure that Tally. ERP 9 does not get in the way of your way of working. Like in the case of multi-currency, every quantity field is inherently multi-unit ready. whatsoever commodities, say cotton, have peculiar problems the unit of stock used for this commodity is bales, yet trade is in Kgs. With changes in weather, cotton looses or gains weight due to changes in moisture content.If you used Kgs for your records, you would loose the ability to manage stock count and stock take of bales if you used bales, you would have a mismatch in the actual quantity transacted. This problem is compounded in real life since each bale carries a different weight of cotton. With Tally. ERP 9 you can manage all these, with the support for multiple units of measure. Now, you can record both units in transactions Kgs and bales at the same time. Stock valuation will be done in Kgs inventory count can be managed in bales You receive some supplies the Invoice shows 5 Pcs. and the actual count shows 6 Pcs. Were you to enter your receipt as 6 Pcs. there will be a mismatch with the voucher and physical document which will result in an audit objection. Entering as 5 Pcs. would mean that one piece is not recorded Tally. ERP 9 supports actual and billed quantities thus delinking the inventory count from the financial impact of the transaction. With this you can also receive and deliver free samples and manage the some(prenominal) variations that occur now and then. Therefore compound units, alternate units and billed/actual quantities should deliver the capabilities needed for most, if not all, of you r requirements. Multi-Location Inventory Even the simplest of organizations will have inventory in more than one physical location.As organizations get bigger, inventory will require active management with more warehouses (go downs, as we call it in India), racks shelves and stocks at project locations. Take the case of multiple sales outcomes, each with one go down. Each purchases items at different prices and sells them over time. You need to take a call on the value of stocks at each of these outlets as if they were independent units and not apply the company average. With Tally. ERP 9, each outlet will act as an independent unit from a costing perspective. Sales from each outlet will reflect the appropriate cost, and not the company average (which can skew profitability of both outlets).Seen at the company level, the cost behavior ignores these go downs making reports and financial analysis appropriate at that level. Go downs can contain go downs to allow management to the bin level. For various jobs (projects) and sub-jobs, the use of go downs and cost centers in Tally. ERP 9 give a high level of reporting and analysis on inventory and financial aspects of jobs. Multi-Budgets Scenarios Budgets are a measure of the results expected for the planned activities for a company. Whether you formally plan budgets or not, you will be working against several budgets Revenue, Production, Expense, Financial, Investment and so on. Once these budgets are recorded, you would periodically want to check up how your business measures up against this plan.And once you get a handle on the variance, you would probably take decisions on course corrections record possible outcomes of these changes (as scenarios) and compare against the budgets once again. This is a powerful planning mechanism that provides the flexibility to work in a changing /dynamic environment. With Tally. ERP 9, you can set up any number of budgets and to make this easy, budgets can roll up into group budgets and these can roll up again into master budgets the people who come up with the budgets can make entries and the roll-up is automatic (and can be overridden at the rolled up level as well). While determineing any report, you can choose to pull up the budgeted figures as well, along with a variance column. You could just as easily pull up budget figures alone and make these available to various people.A scenario is the name given to a specific combination of vouchers that will be included to deliver a report you can include and exclude different voucher types and build as many scenarios as needed say one where a product launch is on time and another where it is delayed by three months. You could then view actual figures against a scenario. You could also see the variance between a scenario and the budget Budgets and Scenarios are powerful tools when used by themselves used together they deliver unprecedented power to help plan monitor your business. TALLY REPORTING ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?Modifying Reports (Options) Balance Sheet Profit expiry Account Stock Summary running Balance Day Book Cash Book Petty Cash Book Bank Book Journal immortalize Ledger Purchase Register Sales Register Ledger-wise Outstanding Reports Interest Receivable Interest Payable Cost Category Summary Statistics Stock Transfers Stock Valuation Methods BOM Cost guess Daily Balance of Cash/Bank Book Stock Query Negative Stock Item Movement abstract Stock Ageing Analysis Multi-Column Cash Book Purchase Register-Extract Sales Register-Extract Cash Flow Summary Funds Flow Summary Budgets Overdue Receivable Overdue Payable Age-wise Receivable Negative Ledger Debit Note Register Credit Note Register Reminder Letter Confirmation Letter ? Comparative Profit and Loss Account ? Vertical Balance Sheet with Working Capital ? Comparative Quarterly Balance Sheet ? Income Expenditure Statement