Tally Accounting

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.[1] Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process.

Bookkeeping is the work of a bookkeeper (or book-keeper), who records the day-to-day financial transactions of a business. They usually write the daybooks (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc.—and the general ledger. Thereafter, an accountant can create financial reports from the information recorded by the bookkeeper.

Applications of Tally:

Tally's software programs appeal to any kind of business, big or small. Their ease of use is hard to beat. You can track your revenue and expenses with just a few clicks. Common uses of Tally ERP 9 include:

  • Sales, inventory and purchase management
  • Integrated payroll management
  • Access and security control
  • Statutory compliance
  • GST invoicing
  • Budgets and scenario management
  • Payroll accounting
  • Business forecasting
  • Variance reporting
  • Auto bank reconciliation
  • Data backups and data synchronization

With Tally ERP 9, business owners and accountants can easily determine direct and indirect taxes, monitor cash flows and handle payroll compliance checks. They can also create ledger accounts and voucher entries, analyze financial data and make transactions in multiple currencies. Other popular applications of Tally include project management, email integration, POS invoicing and trading excise registers.