ERP Software for Small and Medium Business

Tally Solutions |Updated on: February 6, 2024

A sought-after name among small and medium enterprises (SMEs) for more than 2 decades, Tally is a trusted software for small and medium businesses in India because of its power of simplicity.

With GST Act now in India, many SMEs prefer an ERP Software to run their business and with Tally.ERP 9, Tally stands out as one of the most preferred choices for SMEs. GST-ready Tally.ERP 9 is designed to handle GST in a simpler and easier way. Complete support for GST Billing, GST Return, and many others are provided in the latest version of Tally.ERP 9.

ERP Software Features for Small Businesses in India

Some of the key features available in Tally’s GST Software for Small business are:

Detection, Correction, and Prevention of Errors for GST Returns

GST-ready Tally.ERP 9 Release 6 will help you in preventing errors while you generate GST bills. As you check your data in Tally for GST Returns, Tally will detect transactions with incomplete or incorrect information. Tally will further assist you in correcting those transactions. This will save a huge amount of your time when you upload your returns on GSTIN portal. This will reduce the GST rejection rate.

GST Billing and Invoice Printing in ERP Software for small and medium businesses

Tally's ERP software for small and medium businesses provides a wide range of invoices catering to the diverse needs of SMEs, including GST invoices. The software, Tally.ERP 9 Release 6, allows users to print GST bills that adhere to the GST Act's prescribed HSN codes and GST rates.

Manage Reverse Charge Transactions using Tally’s ERP Software

As a registered business buying from an unregistered party or importing goods from other countries, all such purchases fall under reverse charge, many more business scenarios for reverse charge are covered in Tally’s GST Software.

Handling Advance Receipt in Tally’s GST Software

As per the GST Act, now you have to pay tax on Advance Receipts, and the same has to be showcased in GSTR-1 in a separate table. With GST-ready Tally, now you can easily manage Advance Receipts, and adequate tax can be calculated with simplicity.

File GST Returns using Tally’s ERP Software for Small and Medium Business

With Tally’s GST software, you can generate Form GSTR-3B. Also, Tally supports Form GSTR-1. Soon, Form GSTR-2 and Form GSTR-3 will also be available.

As a business, you are expected to file GSTR-3B for the month of July and August, if you a registered as a regular dealer. In GSTR- 3B you need to file consolidated sales, purchases and other transactions and based on that you have to pay taxes to the department.

Flexibility provided by Tally’s ERP Software

As an SME, you might need the flexibility to do a sale even before making a Goods Receipt or Purchase entry in your system. In Tally.ERP 9, you have the flexibility to manage all kinds of such scenarios.

Get information on SMS from ERP Software for SME

If you are an SME and wondering how with limited resources you can get all the information handy, Tally will provide the required details over an SMS to you, while you are travelling.

Synchronization of data from two or more locations

Tally.ERP 9 provides you Tally-to-Tally sync which facilitates you to view multiple location data in one place. With this feature, you can also manage centralized accounting. This also helps if,

• You are a growing SME and looking to expand your business.
• You have two places of business and would like to view a consolidated report at one location.

Remote access feature in Tally

At times if you feel the need to access your business accounts from anywhere else, Tally offers remote access facility which is highly secured, and provide quick access to your accounting data from anywhere.

Easy sharing of Tally data with GSTP

You can easily take a back-up of your Tally data and share with your GST-Practitioner within no time. Also, by using Tally’s Remote Access, your GSTP can have quick access to Tally’s data securely.

Complete Banking Support

Tally's GST software for small and medium enterprises is equipped to support over 100 banks for automated bank reconciliation, which is highly beneficial for SMEs. The software enables you to handle your e-banking and other bank transactions seamlessly within Tally. Additionally, you can print your cheques using the software.

Easy to manage your business with User Level rights

With Tally. ERP 9 you can now provide user-level rights to multiple users. Different users can have different types of access. User-level rights are designed to handle multiple situations that can occur within your business and provide complete flexibility to define the rights for each user.

Designed to handle all types of GST Rates

All types of GST rates and additional Cess that are levied by the government in the GST Act can be easily handled in Tally. As a user you can configure the rates based on your business, complete flexibility is provided while configuring the rates.

Capability to handle multiple companies

Many businesses having multiple companies want to manage their books centrally. They can do that easily with a single Tally license. In a single Tally.ERP 9 License, you can manage multiple companies and file their returns separately.

Multi-User Environment

Tally.ERP 9 comes with two versions Tally.ERP 9 Silver and Gold. In the Gold version, more than one user can work concurrently on the same company. So as an SME, you will have the flexibility to have different users with different assigned work to manage multiple workload.

Faster MIS Reports from GST Software for small and medium enterprises 

An easier way to quickly get Balance Sheet, Profit and Loss statements, Cash Flow, Stock-in-hand, Outstanding Report, Payment Performance, Item-wise profitability, Ageing of Outstanding, and many more reports with the flexibility to configure the reports.

Pricing for ERP Software for SME

Tally.ERP 9 comes in two variants for SMEs. Tally.ERP 9 Silver Edition (Single user) is priced at Rs. + Taxes. Tally.ERP 9 Gold Edition (Multi-User) is priced at Rs. + Taxes.

Types of ERP Software for Small & Medium Businesses

Cloud ERP software

Cloud-based ERP software is a popular choice for many small businesses due to its low upfront cost and affordable monthly payments. These platforms offer customizable options for adding or modifying users and are easy to configure, making them a feasible choice for small businesses.

ERP software designed only for SMEs

ERP software solutions that are built specifically to cater to MSMEs are primarily on-premise or web-based. They too have lower upfront costs with fewer complexities to manage every business activities. These software modules can be tailored as per the business requirement and won't bear an extra cost to the company.

Industry-Specific ERP Software

Industries like discrete and process manufacturing, distribution, retail, and more use industry-specific ERP solutions to cater to their business’s unique needs. Since every industry's needs are different, the role that ERP software would play to help them grow would be dynamic. For example, small business manufacturers look for a business solution with quality control functionality while construction contractors want project management capabilities.

Walk the GST journey together, buy GST software

Frequently asked questions

What is ERP software?

ERP refers to ‘Enterprise Resource Planning’ software which integrates various functions of a business into a single unified system. With a single unified database and by integrating different functions, ERP system helps you get a complete picture of the business.

Check out ERP Modules: List of Basic ERP Modules and their Functions

How does ERP software works?

Enterprise Resource Planning (ERP) software is designed to have a single unified database to manage various functions of the business. This means writing (a record) or reading (report) by all the users will be from a single database making it more powerful to render the consolidated information of various functions. Since all the functions are integrated and managed in a single database, making it possible to give a complete picture of your business.

Check out: 8 Stages of ERP Implementation Life Cycle

What industries can ERP be used for?

Manufacturing Industries

• Aerospace and Defense
• Construction
• Home Improvement and Furnishings
• Pharmaceutical Manufacturing
• Food and Beverage Manufacturing
• Metalworking
• Paper and Packaging
• Plastics and Petrochemical
• Electronics and Technology
• Automotive Manufacturing

Non-Manufacturing Industries

• Healthcare
• Education
• Hospitality

Check out why ERP for service industry plays an important role

How to choose the best ERP software in India?

Some of the key features that you should look for while choosing ERP packages are:

• Accounting and finance management
• Flexibility to manage various business operations
• Business forecasting
• Inventory management
• Insightful reports
• Data access on-the-go

Find out more on how to select ERP packages that's right for your business!

When does your small business need ERP?

Small and medium-sized businesses often lack structure and streamlined processes. As they grow, they require additional modules to manage various aspects of their operations. In addition to streamlining business operations, ERP systems provide crucial information for decision-making, making them an essential and inseparable part of modern business.

Here's why ERP integration is crucial for any small business.

How can ERP help improve and grow a business?

ERP software can help improve the following processes in a business:

• Invoicing and Accounting
• Inventory Management
• Credit and Cashflow Management
• Taxation
• Banking
• Online Access
• Cost Control and Cost analysis
• Security Management
• Payroll Management
• Business Reporting and much more...

Is ERP software good for small and medium enterprises?

ERP software designed for small businesses can assist owners in moving beyond outdated methods of bookkeeping, such as spreadsheets, and adopting a more automated approach. This system can efficiently manage every aspect of a growing company, including sales, customer relationships, financials, and operations.

Check out ERP System for Various Business Size

Read More on ERP

What is Enterprise Resource Planning System, ERP Software for Manufacturing Industry, ERP Software for Distributors & Wholesalers, Types of ERP Software System, ERP Implementation Process, Features of ERP Software, ERP Software Advantages, Custom ERP Solutions