For every business, it’s necessary to keep all the business transactions and entries saved. Tally is a business software used in every organisation. It helps small business owners to generate invoices, calculate GST liabilities, maintain stocks, calculate TDS, and maintain payroll for employees as well.
What Is Tally?
From keeping a track of expenses and deciding about investments to calculating profits, accounting plays a vital role in every business. But the problem is when recording manually there are chances to record, get misplaced or have errors. This can lead to data discrepancy and will not give a clear picture of the financial health of the business. Using software like Tally is the best solution for tracking the business efficiently. Since tally is a popular software for record-keeping and accounting purposes it is widely used in small and medium enterprises.
Transactions Allowed in a Linear Line Yards or Tally is a popular software developed by Goenkas 1986. Used by a large number of small and medium scale industries, its primary objective is to conduct accounting activities in a very detailed and systematic manner. To get accustomed to various facets of the software, its working, and understand basic concepts like bookkeeping, profit and loss analysis, stock maintenance, etc. In tally software the latest version is Tally ERP 9.
Some of the activities that Tally can do :
- Accounting with each type of transaction such as payments, receipts, sales, purchase.
- Manage banking with ease with bank reconciliation.
- Inventory management
- Tax management
- Job work analysis
- Cost centre and cost category for MIS and internal control purposes.
- Payroll and salary process with employee data
Role And Importance Of Tally
Tally is used in almost every business. Tally can be used for generating various business reports required from time to time. It helps to prepare financial reports such as profit and loss account, balance sheet, stock reports, cost centre analysis, help management to take appropriate business decisions to optimize the profitability of the organisation.
Reports are instantly viewed by the business managers to decide about the future of the organisation. Organisations that have many branches or locations, Tally ERP help them to view reports and performance of each branch and location. Also Tally ERP helps to understand the requirements of each branch and godown, goods movement, and GST liabilities.
Tally is one of the widely used software. It is cost effective and used in many countries like Dubai, Malaysia, UK, many Asian and foregin countries.
One of the major advantages of tally is that it can be learned from anywhere.
Tally accounting software is affordable for small business owners. Professionals like practising CA and tax advocates also get advantage from this software.
Tally Courses
If you want to pursue a career in tally then you have to be an expert in tally software. There are many institutes that provide tally courses. A tally course is generally a 1-3 month long program where you will get to understand the software in-depth and learn concepts related to inventory management, GST and TDS calculation, modifying company details, etc. Various multinational companies use this software as it is easy to use and helps in keeping an error-free and glitch-free record of a business’s accounts. It’s an excellent option for those who want to pursue a career in accounting. It is important to note that if you want a diploma certificate in tally, then the course might extend to more than two years.
Eligibility Criteria For Tally Course
- You must have completed secondary education preferably in commerce stream.
- Basic knowledge in business management and accounting is preferred.
- Also you can apply after completing your graduation. It will act as a professional boost if you are planning to build your career in accounting.
Areas You Can Explore Using Tally
Billing
Billing is an essential part of accountancy. It is a day-to-day process in every organisation. Whenever you pass an accounting entry, simultaneously a bill is made with multiple further uses.
Banking
Banks have now become an essential part of our business. With the help of concepts like TDS, GST, Tally ERP, candidates will learn how direct and indirect tax can be calculated.
Taxations
In taxation tally software has a major role. Tally course will familiarise you with insights on VAT, Excise, Income, Customs etc.
Career In Tally
After becoming a tally expert there are a lot of career opportunities waiting for you. Here are some jobs after becoming a tally expert :
- Accounting clerk
- Accounting associate
- Accounts assistant
- Accounts executive
- Accounts officer
- Accounts supervisor
- Tally accounts manager
- Tally accounts executive
- Tally operator
- Tally junior accountant
- Service coordinate with tally
- Tax accountant
- Bookkeeper
- Investment banker
- Financial tally analyst
These are some of the areas in which a tally expert can build their career.
Tally is one of the best accounting software used in every organisation. If you want to be an expert in Tally learn with Finprov. Finprov is one of the best institutes that provide Tally Prime courses and other accounting and financing courses.