When it comes to ERP software, TallyPrime empowers small and medium businesses to manage their operations with ease and efficiency. For over three decades, Tally solutions have been trusted by business owners across India to handle day-to-day activities and generate insightful reports that drive smarter decisions.
TallyPrime comes packed with a comprehensive set of robust features, making it both reliable and highly flexible for diverse business needs. Below, we’ve outlined some of its standout capabilities.
These are also the key ERP features every business owner should consider when evaluating any ERP solution.
Accounting management in TallyPrime
- With TallyPrime, a business owner can easily create and track sales vouchers; and get detailed reports on a daily, weekly, monthly or yearly sales basis
- Business owners can easily create purchase vouchers and view supplier-wise purchase details
- Order processing and tracking can be easily done using Tally’s ERP software
- Businesses get full support and functionality to create journal, payment, receipt and contra vouchers
Banking transactions support in TallyPrime
- Business owners can manage cheques easily with TallyPrime. You can generate cash/cheque deposit slips and track them.
- You will find it very handy to use TallyPrime for reconciling business transactions directly with bank statements. Just upload the soft copy of the statement into the software. Within a few seconds, you will get the list of reconciled transactions based on reference numbers.
- TallyPrime supports transactions made in the form of e-Payments with multiple banks.
Inventory management
- TallyPrime can be used to manage stocks in a very flexible manner. You can define unlimited stock groups, stock categories and arrange stock accordingly. Get reports based on stock groups and categories to get an overview of stock status across locations.
- Based on the business need, you can create multiple godowns and track stock godown-wise. Create multiple price lists for your business to manage different types of customers. Manage stocks with batches and access stock summary reports to view the stock position.
GST compliance in TallyPrime software
- Easily file GST Returns using TallyPrime, complete support for GSTR-1 , GSTR-2 and GSTR-3B.
- TallyPrime is GST compliant. It is designed to handle GST transactions, reverse charge scenarios, advances and so on.
- With regard to GSTR-2, business owners and GSTPs can generate the form in JSON directly and file the return. Buying dealers can add missing purchase invoices, and purchases made as imports and reverse chargeable services to claim their Input Tax Credit.
- Business owners and GSTPs can send reports of mismatching or missing invoices to suppliers so that they take quick action to reconcile the lapses
- A salient feature of the latest TallyPrime is that it marks vouchers in which changes are made during the invoice matching process. The list of changed vouchers can be used to update the books without worrying about overwriting of data or appended transactions getting erased.
Easy access to business reports
- Business owners can access Balance Sheet, and Profit and Loss statement at any point in time in just one click before taking important business decisions.
- TallyPrime provides reports on payment performance of parties, item wise profitability, cash flow, fund flow and many more insightful reports for informed decision making.
Budgets and controls
- Budgets and Controls is one of the differentiating features in ERP software. Businesses typically allocate budget to different departments or cost centres and prefer to track the various expenses occurring in each unit. With TallyPrime, businesses can define the budget for cost centres and track expenses against the budgets.
- Businesses can set the credit limit for parties, and before passing transactions TallyPrime warns the user if the particular transaction is crossing the defined limits.
Manage unlimited companies and group companies
- TallyPrime provides flexibility to manage data of multiple businesses operated within the same license. Users can see consolidated reports by creating Group Company in the ERP software.
- One of the key feature of TallyPrime is that user can see financial status of his Group Company and even compare financial reports between two quarters.
Security features in ERP Software
- The Tally Vault password encrypts and safeguards data from unauthorized access.
- User-level access and controls can be defined and granted by configuring the User Management settings.
ERP Software functionality – Remote access
- You need to access business reports or add new business transactions remotely? Security is a typical concern when one has to access business data from other locations.
- With TallyPrime, you can take important business decisions when necessary by accessing business data securely and making updates as required
Synchronization of data from two or more places
TallyPrime's synchronization feature helps in managing centrally located data from two or more places of business. You can define and set the rules. Data gets synchronized even when new voucher data is entered.
