One of the most widely used accounting programs in India is called Tally ERP 9. It is the ultimate business management tool and GST software, combining function, control, and internal customizability in the best possible way. It is a full-featured product that maintains its original simplicity while providing extensive business functionalities like Accounting, Finance, Inventory, Sales, Purchase, Point of Sale, Manufacturing, Costing, Job Costing, Payroll, and Branch Management, and now GST as well! It also enables business owners and their associates to interact more in discussions pertaining to accounts.
Why Should We Use Tally ERP 9?
You can handle all important parts of your business, such as accounting, sales and purchases, inventory, manufacturing, taxation, payroll, MIS reporting, and more, with the amazing capabilities that Tally ERP 9 offers. Let’s get into the details of this for a better understanding.
By establishing and maintaining masters, preserving vouchers, and generating reports, you may record the transactions required for your firm. You may carry out and manage all of the key accounting procedures in your company using Tally.ERP 9, including:
- The recording of all transactions, including the generation and upkeep of bills.
- Keeping track of bill-by-bill payments
- Processing financial transactions, such as managing and reconciling checks.
- Controlling profit and cost centers
- Applying interest and statutory calculations
- Viewing the profit and loss account and balance sheet
The accounting masters such as groups, ledgers, and voucher types are listed in the accounts information so you may offer the financial information for your firm. Information from accounts offers:
- The possibility to work with a single master at once.
- Several masters choose to work with numerous sub-masters simultaneously. A sub-master acts in the same manner as a master.
The configuration and functionality for statutory and taxes compliance for businesses are included in Tally. ERP9. For statutory and taxes purposes, the following characteristics are available:
- Goods and Service Tax (GST)
- Value Added Tax (VAT)
- tax taken off at source (TDS)
- source-based tax collection
Tally supports a number of taxes in India, including GST. By identifying any gaps in the transactions’ information and filling them up before submitting returns, you may keep accurate books of accounts and produce error-free returns.
The ability to conduct banking transactions is one of its most important and practical capabilities for businesses. Business owners execute tasks associated with banks practically every day. Therefore, it is crucial to automate and ease efficient record-keeping procedures that are essential for the accurate recording of accounting transactions for on-time payments.
The banking component in this software helps business owners to carry out a variety of banking-related tasks, such as cheque administration, payments to third parties, and bank reconciliation. The use of this feature substantially improves and streamlines the banking process by eliminating errors, increasing productivity, and simplifying traceability while also saving time.
It offers incredible banking skills for managing your business. You can manage checks, reconcile bank statements, pay your parties on time, and more with its e-payments functionality. The primary aspects of your business operations that Tally ERP 9’s banking feature supports are listed below:
- Auto bank reconciliation
- Cheque management
- Deposit Slip
The finest accounting tool for creating sales reports is Tally Solutions, which enables management to understand sales patterns and make the required adjustments to boost sales by identifying the number of sales and calls that have been made. The Tally software can be used to create a variety of sales reports that give managers access to a variety of data.
These include the daily call report, closed and won opportunities sales report, joint sales report, coupon sales report, and promotional sales report. These reports must be produced effectively since they serve a variety of purposes and aid management in making wiser choices. It is one of the most well-liked accounting programs, and assists in keeping track of each and every sales order and invoice that is generated.
A sales order is a request made by a customer for the delivery of particular goods at a specific cost and at an exact time.
Managing purchasing in an organization involves getting the necessary tools, materials, and supplies in the right amounts, at the correct costs, and on schedule. Due to the complexity of modern production processes, purchasing has evolved into a specialized role, and almost all major companies now have separate purchase departments.
The primary tasks in large businesses include ordering stuff in response to user requests, verifying delivery of the material, and keeping files and records of orders and pricing changes. Ample experience in providing all-inclusive solutions and services to support the Manufacturing Organization’s business operations is demonstrated by Tally ERP 9 Solutions.
By implementing this solution, one may successfully integrate and streamline corporate processes, optimize the entire supply chain, and swiftly pinpoint client needs, all of which will eventually lead to greater financial results. You may effectively manage your purchases with Tally.ERP 9 by making buy records, producing expense reports, and amending purchase records as required.
The payroll function for Payroll processing is streamlined with Tally because of its complete accounting integration. Employing both straightforward and intricate criteria, businesses can set up and execute payroll—a group of Tally’s preconfigured procedures.
Payroll process automation is made possible by ERP 9. Additionally, the payroll component offers management-related data, statutory documents, and reports in the required formats, including:
- Paystubs, payroll statements, attendance logs, and overtime registers.
- Gratuity, Employee State Insurance (ESI), Provident Fund (PF), and National Pension Scheme (NPS).
- Income Tax and Professional Tax (IT).
- Reports on Expats.
Manufacturing and Job work
Expat RepJob Order Processing, also known as Job Work Out, is the process of receiving an order to produce or process goods in accordance with the specifications of the client using materials that were either provided by the client or purchased on his behalf, and billing him for the services rendered as Job Work or Sub Contract.
Both job work delivered to employees and job work obtained from clients can be processed using Tally ERP 9. Additionally, it enables the main company to keep track of the supplies sent to job workers, the materials received in relation to the job assigned, and vice versa.
One of the crucial elements that will determine the business’s success is inventory management. Inventory is idle money and contains a significant amount of working capital. Any inefficiency in inventory management would disadvantage your company.
Inventory management, to put it simply, is all about finding the right balance between overstocking and understocking. Overstocking will impede cash flow and increase costs associated with managing extra stock. On the other hand, understocking results in lost sales because there isn’t enough product available when it’s needed.
Thus, maintaining the proper level of inventory at the proper time and minimizing the expense of handling inventory is key. The functions that make up the inventory features are as follows:
- General Classification and Storage
- ordering procedures
- Accounting Purchase Administration
- Retail Management
In any organization, information exchange between computers is the most typical feature. These interactions count as posting a report or document on the internet or intranet or sending data by mail. Using the e-capabilities function, all of this is possible in Tally. All you need at the remote location is a Tally installation and an internet connection.
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You will need to share business information like payments and receipts, stock information from branches/warehouses, and so on when your company has several branches. The sharing of data can take place between several branches or between the headquarters and branches/warehouses.
To transfer and update data between two or more sites, including the headquarters and branches/warehouses, you can use data synchronization. You must use the same version of Tally at both locations. To perform synchronization, you do not need to constantly be connected to the internet.
Master and transaction data can be shared between Tally.ERP 9 installations at different locations. Tally.ERP 9 configuration options allow you to decide how this data exchange will proceed. Tally.ERP 9 uses a client-server architecture for this.
One site can function as the client, and the other as the server. Tally.ERP 9 can, however, function simultaneously as both a client and a server. This will make it easier to organize data consolidation and distribution in one place.
Tally ERP 9 can make sure that every master that is used in a transaction is shared along with it. Ledgers, groups, stock items, units of measurement, currencies, and other items fall under this category. Any transactions that are changed or deleted after the initial synchronization are updated in future synchronizations.
In Tally, the transaction’s masters can all be shared with the transaction using it. Ledgers, groups, stock items, units of measurement, currencies, and other such items are included in this. In the event that a transaction is changed or deleted after the initial synchronization, the modifications are updated in the succeeding synchronizations.
Tally. ERP 9 simplifies routine accounting procedures and gives you the freedom to complete various additional duties that help your company run smoothly. A variety of business scenarios can be catered to by this business management software.
Tally boasts a number of practical features, including as-
- Multiple currencies
- Information migration
- Printing of logos
- Corporate dividing and combining
- Automatic voucher numbering
- Compound and alternative units of measurement
- Reporting based on percentages
- Flexible multi-account and date-based reporting
Best Places To Learn Tally in India
Candidates can acquire all the nuances of using this program and utilizing it effectively through Tally courses offered in India.
Udemy is a platform for learning that is accessible to people all around the world. It offers a variety of courses, including tally, on an e-learning platform to help you advance your profession or business. Trainers on Udemy have more than 8 years of real-world professional experience.
The Tally courses are an excellent choice for those who wish to excel as accountants, business owners, and job seekers who want to master advanced accounting with GST. You will learn how to calculate TDS and extract TDS reports, use banking, handle payroll and accounting, and create MIS reports in the Udemy Tally course.
Fees– INR 7680. 16 hours of on-demand video, free articles, mobile and TV access, and a certificate of program completion are all included.
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2. Tally Academy
One of the most well-known talent development organizations in India is Tally Academy, which also works with NSDC on training initiatives. The Academy offers training that is focused on careers, enabling young people who are unemployed to succeed in the workplace.
The experienced instructors at Tally Academy deliver training in accordance with market demands. Customer satisfaction and high-quality service are Tally Academy’s top priorities. Tally Academy offers free literature for study purposes, as well as real-world case studies and practical training.
Fees– INR 5000
Leading training organization NIIT has established a presence in more than 30 nations. Learners can now access real-time instructor-led classes. It features knowledgeable instructors that offer study materials and hands-on instruction for the Tally ERP 9 and GST courses. Students with accounting experience from the Commerce stream may enroll in Tally courses.
Fees– INR 8000, There are 44 hours of classroom instruction.
4. CAclub India
The CAclub India was established by the team at Interactive Media Private Limited. It is an interactive platform for those in the finance industry. The institute offers online learning in the areas of accounting and finance, including crash courses and certification programs. The instructors at CAclub India are well-known figures in the financial community.
Fees– INR1699 plus INR 700 for video lessons and INR 300 for tutorials stored on a Pendrive.
5. Besant Technology
In Chennai, there is a Tally training facility called Besant Technologies. With hands-on demo classes, this tally training in India enables you to grow from beginner to expert-level proficiency in Tally ERP 9 with GST. Students were able to land jobs at various MNCs, thanks to the Tally course.
The program allows for flexible scheduling. Subject experts and business executives with more than 8 years of experience, the instructors at Besant Technologies offer in-depth study in various courses.
6. Disha Computer Institute
One of the institutions in Pune offering Tally courses is Disha Computer Institute. It is a renowned institution that offers IT training and related skills. They are specialists in understanding what is needed to learn in the field. Industry professionals serve as their mentors. Learning resources include access to a library, printing, and the internet.
Fees– INR 10,000.
7. Indian Institute of Skill Development Training
The principal goal of the Indian Institute of Skill Development Training (IISDT) was to improve the abilities of Indian youth in order to satisfy the country’s expanding need for modern industry. The Indian Institute of Skill Development Training (IISDT) currently has over 450 accredited training facilities operating successfully in India.
Over 30,000 students have studied at various Indian Institutes of Skill Development. Training up until this point (IISDT), Many pupils are employed effectively in government agencies like the Patwari, Police, and Railways, as well as in private employment and their own training facilities.
Fees– INR 2000
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8. Gramin Shiksha
They are an organization that is renowned for offering affordable computer and vocational education in rural areas through a strong network of centers in small towns and villages. Despite significant efforts by the federal and state governments to improve young skill levels, there is still a significant shortage of trained workers.
Fees– INR 10,000
9. MKCL Klic Courses
A cooperative project of the Maharashtra government and 10 state universities, the Maharashtra Knowledge Corporation India Limited aims to educate and develop young people. It’s one that offers tally training in India.
A variety of occupational courses are available through MKCL’s e-learning platform. MKCL trainers have a combined experience of more than 17 years. It also provides a Klic tally course with GST.
Fees– INR 4,500
10. Henry Harvin
Henry Harvin’s Tally course is regarded as one of the top Tally courses in India. This course utilizes a live, online instructor-led, 100% practical training methodology for Tally training and certification. If you pass the Tally course and are eligible for an advanced Tally course, you can build a successful career in the Tally ERP industry.
Accounting, tax preparation software, accounts, inventory, billing, and payroll all make considerable use of Tally. These are regarded as the greatest accounting tools available. One such tool used by both individuals and commercial entities to manage their financial activities is the Tally.
Fees– Depending on the self-paced or live online option you select.
Ques 1- What is the eligibility for the Tally Course?
Ans- You must have finished secondary school, 10+2. (preferably in the Commerce stream though candidates from any stream can apply) Preferable is some familiarity with accounting and business management. As soon as you receive your graduation, you can enroll in this course as well.
Ques 2- Why Tally course is considered the best in all?
Ans- One of the most widely used accounting programs in India is called ERP 9. Tally.
Ques3- What is the fresher’s salary after completing the Tally course?
Ans- Fresher’s salary range from 1.2 LPA to 3.6 LPA, depending upon the organization.
Ques 4- Is Tally necessary for a Charted Accountant?
Ans- Though, it is not necessary but it will always give you an added advantage since you know all the functions it can perform.
Ques 5- Which is the latest version of Tally?
Ans- Tally is the latest of them all, hence you can understand its importance in today’s scenario.
Ques 6- Is Tally training more beneficial for jobs than SAP?
Ans- Tally is a corporate tool that streamlines accounting. However, smaller and medium-sized businesses and organizations tend to adopt it due to its simplicity. While larger businesses use SAP, which is more complicated, to manage their data It would be wiser to make a decision based on the job route you want to follow.
Ques 7- The TallyERP 9 course: Is it helpful?
Ans- Yes, Tally ERP9 is a highly useful course to take since it is utilized in India and over the world for the majority of business transactions.
Ques 8- What is the Duration for the Tally Course?
Ans- If you are opting for Diploma it is 1-2 years and if you are going for certification it would be 2-4 Months, generally.
Ques 9- What job profiles you can apply for after completing the Tally Course?
Ans- Accountant, Tally Service Coordinator, Financial Analyst, Tally Operator, Account Executive, and so on.
Ques 10- Who are the Top recruiters for Tally?
Ans- Businesses from a range of (private and public) industries, including industrial houses, public accounting firms, overseas trade, banks, budget planning, inventory control, merchant banking, and more.