In today’s rapid developing scenario more and more businesses are being set up to cater the unending needs of consumers. As the number of businesses coming up have considerably increased, the need for efficient management of those businesses have also gradually grown up. In this time of digitization, with the use of software, handling a business can be easy and less time consuming. In fact, it also saves cost as it lessens the number of individuals required to do the tasks as now a single software can do with more precision and speed than a human. Tally ERP 9 is one such software that handles nearly every aspect that a business needs. Right from setting up a business to accounting to billing to payroll to investment decisions, Tally covers everything.
Accounting
This is the one feature for which Tally is widely renowned. Every business requires accounting and it’s done in the same way as you write accounts manually. The only difference is now you are writing accounts in a computer rather than a book. There are varied vouchers for different types such as payment entries, journal entries, receipt entries and so on. You can have accounting easily done in Tally irrespective of you being a service provider or a manufacturing person.
Reports
Correct information must be passed at suitable levels at the right time in order to operate a business competently. It’s quite possible that you might not have levels in your business, however, information required at the correct time can be valuable for a business to remain steady in the market of fierce competition. In Tally, various types of reports can be generated at just the push of a button. Some vital reports are overdue payables, overdue receivables, cash flow, payroll, job work reports and so on. With the help of these reports, one can take several routine decisions without wasting much time.
Payroll
If your business is a middle sized one and have employees in two digit numbers then payroll in Tally will save a lot of your time and cost of buying a different payroll software. Here, various groups of employees can be created for different types of employees. You can also set the attendance of employees and can even set the number of units produced per worker if you’re in a manufacturing industry.
Taxation
Entrepreneurs conduct business for making profits and government levies taxes on the profits earned by the businesses. Various types of taxes such as service tax, income tax, VAT, excise, etc. are imposed by government on a single entity. Tally is able to implement the taxation needs of every law.
Whether you are an individual or a large enterprise you can execute your business effectively and management can be proficiently done in Tally. It is highly effective enterprise resource management system that every business needs to possess.
