TallyPrime is the latest version of Tally. All previous versions of Tally Prime are called Tally.ERP 9. In this blog, we will be talking about the advantages of TallyPrime for small and medium businesses.

But before talking about Tally Prime, let us first understand what is tally, why is Tally in high demand and why most businesses worldwide use Tally for their accounting purpose.

So, Tally is an accounting package that is used by 2 million businesses worldwide for their accounting, inventory management, payroll management and overall business management. In the early days of businesses, companies used to hire many employees to perform their accounting and calculation manually. In 1986, Indian company Tally Solutions Pvt. Ltd. launched enterprise resource planning software called Tally which revolutionized the process of business accounting.

Using Tally Software, businesses are now able to perform various tasks such as bookkeeping, inventory management, MIS reporting, statutory compliance, auditing, etc with fewer efforts, manpower and cost.

Tally is the most popular accounting software in the world of business. Tally a software by an Indian Multinational company, Tally Solution Pvt. Ltd. is now being used in every part of the world and lately, its demand is increasing in African and Asian countries more and more.

Some commonly asked questions about Tally are, is it necessary to have an IT background to use Tally Software? and do you need the knowledge of coding to use Tally? The answer is NO, this simple yet powerful software does not need any IT background or coding knowledge and it is very user-friendly. After the first version of tally, through continuous development and updates Tally Software is now considered as one of the leading accounting packages across the world with more than 2 million active users.

To meet the growing needs of businesses and customers, Tally solutions has come up with the latest version called Tally Prime. If you want your business to develop at a faster pace with the least effort Tally Prime is a must-use software. The features and services provided by Tally Prime are more advanced and very large in numbers. From daily accounting, balance sheet, inventory management to generating different reports for tax filing every process has been made easier in Tally Prime.

Over the 30 years, Tally Solutions has updated their version ample amount of time and every update has brought significant changes and new features for their user. To keep up with the advancing needs, in the latest update of tally (Tally Prime) you will experience simplicity, speed, flexibility, and reliability at a whole new level.

In this article, you will get the answers to all your doubts and questions about tally prime such as what makes tally prime a suitable software for your business, what are the new updates in tally prime and mainly what are the advantages of using tally prime?

Advantages of Tally Prime -

Simple and as per modern software standards

Tally Prime is the latest version of Tally and the main and most evident difference in the latest version when compared with the older version is the look of the software. The new version i.e Tally Prime looks very classy and is also soothing to the eyes of the user.

It is also simpler to use. Understanding the user, the software is made in such a way that every screen of Tally can be accessed with a simple search bar called the 'Go To search' switch. Type out the screen name for example if I wish to check my Balance sheet, I can simply type 'Balance sheet' and it will display suggestions and I can click the one I want to see. It has the same functionality as the Google search engine you type and get whatever you want.

More Flexibility

Tally Prime provides you with the flexibility to access your Tally data in the form of reports from any device and at any time. You can log in to your account from the Tally Solutions website and view your Tally data reports.

Future Ready

When a business grows over some time, it's expected that new features and functions will be added to its existing ERP software. Tally prime is constantly being updated to accommodate new features to suit business needs. This software has the potential to grow with your business.

More Secure

Tally prime understands the importance of a company’s data and information. Tally Prime has come up with built-in security at many levels so that, with tally prime, your data will always be secure. User-level security controls, as well as user activity overview, are some of the features Tally provides to keep its company data safe.

Remote Access

With tally prime, you can access your important business reports from anywhere outside your business premises. Tally Prime brings the ability to access your data from a web browser, or any device at any time from anywhere. Accessing Bills Receivable & Payable, Stock Summary, Sales/Purchase Register, Profit & Loss A/C, Balance Sheet, and many such reports securely is now possible with the aid of Tally Prime.

Data Synchronization

Tally Solutions understand that gathering and organizing data from multiple branches is a tedious task. To consolidate all your data in one place and provide you with more ease in analyzing your data, tally has a synchronization feature in tally prime. This feature consolidates all your data from different locations and provides it to you in one place.

E-banking facility

The E-payment or E-banking feature in Tally Prime allows making E-payments or electronic fund transfer from one bank to another. You have many options for e-payments like demand draft or PO, electronic cheque etc. You can export the entries and check for mismatch and rectify if any.

Always Stay Compliant

Stay compliant with new rules and regulations as introduced by the government. Every new compliance rule is made available for Tally users in the latest update. Thus you need to keep your software up-to-date.

Takeaway

Tally Prime is one of that software that is a complete business management software package. It is a one-time investment that provides you with return throughout your business life-cycle. Keeping in mind the requirement of small and medium businesses.

TallyPrime is being improved every once in a while. One of the biggest advantages of Tally is its ability to adapt to every type of business. It has hundreds of features that can be enabled or disabled as per the requirement. Due to this reason, more and more businesses in the African countries and worldwide are using Tally to maintain their books of accounts.