To survive in today’s competition, it is a must that your business adapt to the current technological trends by using tools that will give you deeper insights, knowledge about your business and strategize you to perform better. Small businesses mostly tend to switch to Tally software.

Small and medium enterprises (SMEs) basically need to manage 3 essential functions for their business:

• Accounting
• Inventory
• Compliance

Tally for small businesses overall acts as the backbone of your company by providing estimates, detailed analysis, and an overview of your business that will also help in decision making and also help you to grow your business.

Many small business owners in Nigeria are worried about bookkeeping—that they have to calculate and reconcile large numbers. However, since bookkeeping is not just an integral part but a vital part of their business.

• Tally for small businesses in Nigeria will provide a stock ageing report, which will help boost inventory management in their business.
• Small business owners can fully participate in decisions such as giving new purchase orders to suppliers, banking sales and accoun
• Apart from this, small business owners should be up-to-date on the financial status of their organisation.
• As Tally helps and manages the above listed business functions with a single software package, small business owners can easily and efficiently access these functions.

Some major advantages of using Tally in small business are:

• Data Reliability & Security:-The data which is entered in the tally is fully reliable and totally secure. It will help secure and safeguard the financial information of the company from unauthorised changes.
• Payroll Management:- The payroll feature is combined with accounting for payroll processing. Tally helps in maintaining financial records of the company, which include taxes, bonuses, etc.
• Remote access of data:- The current COVID-19 situation has made us all aware of the need to access your business data from anywhere. With the help of tally, employees can access financial data from anywhere.
• An Audit tool for Compliance:- Tally always acts as an audit tool. Auditing has become vital for every business. A Tally audit is done to check the transactions done or shown in the tally software.

Reasons for Recommending Tally as the best accounting software for small businesses.

• The impact of Tally on small businesses is tremendous. Tally makes billing and subsequent accounting easy.
• It is easy enough for an individual entrepreneur to use it within a few hours of learning.
• It provides insightful reports that improves business decision making.
• Different pricing for single and multi-user licences.
• Tally is suitable for all industries due to its adaptability.
• It also improves the efficiency of business.
• Tally is best for simple as well as advanced level financial management.
• The interface is simple to use.
• Easy to customise.

Tally Characteristics and Features.

• By using Tally, you can create and maintain accounts.
• Some businesses have multiple branches based on multiple locations. Operating from geographically segregated locations becomes a challenge for such businesses. Tally's remote access feature helps and manages your business seamlessly. From different geographical locations, Tally helps make work pretty simple.
• Tally can also manage single or multiple groups.
• By using the feature of payroll in Tally , we can automate employee record management.
• Tally keeps detailed records of all the accounts.
• Tally has an E-invoicing facility, which is a huge time saver for businesses.
• Tally is a user-friendly software. It is a secure software and protects against tampering.
• It has updated statutory compliance.
• Tally helps in reducing the workload of your business. It has an automated process of recording and maintaining accounts.
• Tally can be used for generating a wide range of reports,including Ratio Analysis and Financial Accounts.
• Tally is a software combination with functions, controls, and in-built customization features.

Conclusion

There are numerous exceptional features of tally that benefit a small business. Many small business entrepreneurs can easily use it.Tally ensures that you reach your goals with the strategies to increase more productivity, it also improves business processes. Thus, we can say that Tally is very effective and useful for small businesses. It also saves time while being cost-effective. It also helps in Business management. So, Tally has many features and, It can truly be a boon to small businesses.