Tally is one of the most widely used professional accounting softwares in businesses. Due to its numerous use cases tally can be a complicated software. This is why in order to understand things like creating payment receipts or journal entries for tally practice exercises are quite common among accounting students because it does take quite a lot of time and practice in order to get good at it. You can visit Khatabook to get good at the software. However, what makes it so popular? Let’s take a quick look at the numerous benefits it offers to its customers so that you get a holistic view of the software before you dive deep into it and devote your time to it:
The inventory management feature is used to manage stocks in a very flexible manner. It helps you to track all your inventory with the help of barcode scanning, serial number tracking, and lot tracking. With this feature, you can also generate reports on demand to make sure that your business is running smoothly.
Inventory management has become very important because many companies sell their products online and they need to have a good system in place so that they can keep track of their stock.
With this feature, you can also generate reports on demand to make sure that your business is running smoothly.
Easily file GST Returns
Tally GST Software enables you to easily file your GST returns online without any hassle. You can even do it from anywhere using our mobile app or web portal.
Seamless integration with other systems
One of the biggest advantages of using Tally is that it seamlessly integrates with different systems like accounting software and tax calculation software. This means that you can use one common system for all financial operations without having to worry about data accuracy or consistency between different applications.
Easily file GST Returns and GST compliance
GST compliance has become an important part of doing business. GSTN has made it easy for businesses to file their returns and also accept payments. There are many features in Tally.ERP 9 help you to keep all your transactions under control and makes it easier for you to file returns at the right time.
You can easily file your GST Returns on the go with Tally.ERP 9. Your entire history of transactions is available to you at all times, so you can keep track of your finances even when you are out of the office. You can easily file your return at the click of a button, without worrying about whether everything is in order or not. The software can automatically generate forms and fill them out for you as well as send them directly to the concerned authorities for approval and filing purposes. This ensures that there are no errors in filing and that your return gets approved quickly without any delay.
Reporting and Analysis
The reporting and analysis feature of ERP software helps you track your performance against goals and objectives set by management. You can also identify areas where improvements can be made so that you can enhance your profitability in future.
Easy Data Entry
The ERP system provides a user-friendly interface with data entry screens that include drop-down lists, checkboxes, radio buttons, etc., which make it easy to enter data into different fields within the form at once instead of doing so one field at a time as in traditional systems. This minimizes manual errors and saves time on data entry.
ERP software allows you to manage unlimited companies and group companies. For example, you can have your main company called “Main” with subsidiary companies called “Sub1” and “Sub2.” You can also have group companies that share resources between them. For example, you may want all employees in the accounting department located in different countries to be able to access their accounting data from one central location. Or maybe you have separate departments within your company that operate independently but still need to share resources when needed. ERP software makes it easy for you to manage this type of situation without having to purchase separate systems for each department or subsidiary company.
However, one of the most important and beneficial aspects about tally is the community behind it. If as a a beginner or even an experienced person you have some doubts you can most certainly find an online community answering your questions. So for instance if you want to find about ledger entry, all you need to do is lookup how to create ledger in tally and you will find the answer in some blog or reddit page.