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Tally.ERP 9 as an accounting software package was exclusively devised to automate and integrate all the...

Tally.ERP 9 as an accounting software package was exclusively devised to automate and integrate all the operations, such as sales, finance, purchasing, inventory, and manufacturing for many small and medium sized enterprises (SMEs). With Tally.ERP 9, accurate, up-to date business information is literally at your fingertips anywhere in the world.
Required:
With practical examples using a service company as a case study, explain the functionalities that has enabled Tally.ERP 9 to make inroads into the Ghanaian accounting software packages market.

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Answer #1

Tally is a well-known software among small and medium enterprises (SMEs) for more than 2 decades. Tally is a trusted software for small and medium business because of Tally’s power of simplicity. With GST Act now in India, many SMEs are looking for an ERP Software to run their business and with Tally.ERP 9, Tally stands out as one of the preferred choices for SMEs. GST-ready Tally.ERP 9 is designed to handle GST in a simpler and easier way. Complete support for GST Billing, GST Return and many others are provided in the latest version of Tally.ERP 9.

Detection, Correction, and Prevention of Errors for GST Returns

GST-ready Tally.ERP 9 Release 6 will help you in preventing errors while you generate GST bills. As you check your data in Tally for GST Returns, Tally will detect transactions with incomplete or incorrect information. Tally will further assist you in correcting those transactions. This will save a huge amount of your time when you upload your returns on GSTIN portal. This will reduce the GST rejection rate.

GST Billing and Invoice Printing in ERP Software for small business

With Tally’s ERP software for small business, from printing GST invoices to all types of invoices to cater to a diversity of SMEs, are available in Tally.ERP 9 Release 6. Users can print GST bills with HSN codes and GST rates as prescribed by the GST Act.

Manage Reverse Charge Transactions using Tally’s ERP Software

As a registered business buying from an unregistered party or importing goods from other countries, all such purchases fall under reverse charge, many more business scenarios for reverse charge are covered in Tally’s GST Software.

Handling Advance Receipt in Tally’s GST Software

As per the GST Act, now you have to pay tax on Advance Receipts, and the same has to be showcased in GSTR-1 in a separate table. With GST-ready Tally, now you can easily manage Advance Receipts, and adequate tax can be calculated with simplicity.

File GST Returns using Tally’s ERP Software for Small Business

With Tally’s GST software, you can generate Form GSTR-3B. Also, Tally supports Form GSTR-1. Soon, Form GSTR-2 and Form GSTR-3 will also be available.

As a business, you are expected to file GSTR-3B for the month of July and August, if you a registered as a regular dealer. In GSTR- 3B you need to file consolidated sales, purchases and other transactions and based on that you have to pay taxes to the department.

Flexibility provided by Tally’s ERP Software

As an SME, you might need the flexibility to do a sale even before making a Goods Receipt or Purchase entry in your system. In Tally.ERP 9, you have the flexibility to manage all kinds of such scenarios.

Get information on SMS from ERP Software for SME

If you are an SME and wondering how with limited resources you can get all the information handy, Tally will provide the required details over an SMS to you, while you are travelling.

Synchronization of data from two or more locations

Tally.ERP 9 provides you Tally-to-Tally sync which facilitates you to view multiple location data in one place. With this feature, you can also manage centralized accounting. This also helps if,

  • You are a growing SME and looking to expand your business.
  • You have two places of business and would like to view a consolidated report at one location.

Remote access feature in Tally

At times if you feel the need to access your business accounts from anywhere else, Tally offers remote access facility which is highly secured, and provide quick access to your accounting data from anywhere.

Easy sharing of Tally data with GSTP

You can easily take a back-up of your Tally data and share with your GST-Practitioner within no time. Also, by using Tally’s Remote Access, your GSTP can have quick access to Tally’s data securely.

Complete Banking Support

Tally’s GST software for small business is ready to support more than 100 banks for auto bank reconciliation which will be very helpful for an SME. You can manage your e-banking and other bank transactions within Tally. You can also print your cheques.

Easy to manage your business with User Level rights

With Tally. ERP 9 you can now provide user-level rights to multiple users. Different users can have different types of access. User-level rights are designed to handle multiple situations that can occur within your business and provide complete flexibility to define the rights for each user.

Designed to handle all types of GST Rates

All types of GST rates and additional Cess that are levied by the government in the GST Act can be easily handled in Tally. As a user you can configure the rates based on your business, complete flexibility is provided while configuring the rates.

Capability to handle multiple companies

Many businesses having multiple companies want to manage their books centrally. They can do that easily with a single Tally license. In a single Tally.ERP 9 License, you can manage multiple companies and file their returns separately.

Multi-User Environment

Tally.ERP 9 comes with two versions Tally.ERP 9 Silver and Gold. In the Gold version, more than one user can work concurrently on the same company. So as an SME, you will have the flexibility to have different users with different assigned work to manage multiple workload.

Faster MIS Reports from GST Software for small business

An easier way to quickly get Balance Sheet, Profit and Loss statements, Cash Flow, Stock-in-hand, Outstanding Report, Payment Performance, Item-wise profitability, Ageing of Outstanding, and many more reports with the flexibility to configure the reports.

Pricing for ERP Software for SME

Tally.ERP 9 comes in two variants for SMEs. Tally.ERP 9 Silver Edition (Single user) is priced at Rs.18,000 + Taxes. Tally.ERP 9 Gold Edition (Multi-User) is priced at Rs.54,000 + Taxes.

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