Benefits of using Tally

by Neha Sharma Digital marketing head

Tally is one of the most popular accounting software used by businesses all across the world. Most small and medium sized companies in India have started running Tally for a majority of their financial tasks. The Tally program helps in accounting solutions, financial and inventory management, sales and purchase management, invoicing, reporting and MIS. It can also perform taxation for businesses.

The easy to use interface of Tally makes it a popular choice for doing business. It is robust and powerful, operates at high speeds, executes in real time and has full-proof online help. Tally is highly versatile and flexible, and can be customized to serve distinct business functions.

The advantages of Tally software are:

Easy access to data

With Tally data synchronization, users can enter new data seamlessly on the accounting platform. Once the data is entered into the software, it gets updated in all the categories and modules. For example, when a new item is entered into the stocks, the information is updated at every department level and in every management. So even a sales manager sitting at the head office will know how much stock is present in each warehouse. There is no need of manual help for data movement. All important information is available on the main Tally server. Employees can save a lot of time as they can easily access the data.

Faster accounting tasks

Tally helps in maintaining simple classification of accounts, general ledger, accounts receivable and payable, bank reconciliation, etc. There is no need to do manual accounting and financial calculations. These tasks can be performed faster with the help of Tally integration. The accounting software performs the function of financial analysis and financial management for an organization. It helps to maintain a company’s account books clean and error free.

Inventory management

Using Tally software, businesses can keep a record of their inventory and stocks more efficiently. The user can create items, stock groups and stock sub groups; and different product stock categories. When making a new entry, users can file the stock item under a particular godown. Tally also allows users to track the inventory across godowns. While making a sale, he/she can choose the particular godown from which stocks need to be utilized. With the help of Tally, inventory can also be maintained batch wise. Manufacturing and expiry dates for each batch can be monitored easily.

Data reliability and security

Tally is a safe and secure platform. Even during power failures or machine shut down, the information stored in a Tally database is not affected. Quality data integrity checks at periodic levels ensure complete data reliability. These regular data integrity checks also make sure that no external modifications to the data can intervene with Tally. Large organizations can also customize their Tally software to give special security access to specific users. These users can check all new entries made and also make changes if required.

Customization available

Businesses can customize their Tally platform to meet the needs of a specific industry. All aspects of an organization, right from granular levels to specialized features, can be customized in Tally to achieve a higher efficiency.