Business owner features in tally

//Business owner features in tally

The following are the Business owner features in tally.

There are many, but a few are listed below.
tally for Business owners1) Tally ERP’s Design Tally ERP is practically designed to handle customers business activity as it practically happens (Tally does not stop recording data saying DC is not raised hence Sales invoice cannot be generated etc.)
2) Get complete information about all the payables / receivable of the organization Ageing Report (as per the period defined by the user) – from bill date / due date. Reminder Letter could be generated from Tally. Reminder Letter can be sent as Email directly from Tally. Text of Reminder Letter could be configured by the user.
3) Payment performance of Debtors Understand the overall payment pattern of customers in terms of actual due date and actual receipt of due.
4) Profitability Analysis Provides Invoice wise Product wise Profitability.
5) Remote Edit. Tally ERP allows you to access your data from outside office also on a real time basis with proper authentication.
As an authorized remote user you can View, Create new masters\voucher\transaction, Edit existing voucher\transaction, Print any invoice\voucher\reports, and Extract the data from Tally ERP to Excel. (Administrator can configure the extent of rights\access that can be given to remote user). Though data is entered from a remote location, data gets stored at one location only, which is an advantage.
All of the above data would be validated on real time basis for remote user. (For example, if a remote user is trying to create a new ledger called ‘Anil & Co’, Tally ERP will check for existence of ‘Anil & Co’ ledger in existing data and would not allow the same name to be created again if ‘Anil & Co’ ledger is existing already. Hence there is a real time validation of remote access.
6) Generate Quotations, Orders, invoices voucher All the Vouchers, invoices, Purchase/Sales orders could be printed.
7) Check printing is supported for all bank payments.
8) Cash Flow, Fund Flow Helps in quick decision making.
9) Comparison of Reports with multi-columnar.
reports Cost Centre Reports in Columnar Format, Stock Reports in Columnar Format etc.
10) Comparison of Multiple Financial Periods
Possible to compare Balance Sheet/ Profit & Loss Account/ Trial Balance between Current year & Previous year or between any period is possible . Multi Columnar reports – between Multiple Period (Previous year, Current Year, Monthly, Quarterly, Half Yearly etc.,)
11) Inventory Sales Order \ Purchase Order Management Complete visibility on the total Sales\Purchase Orders and due orders
12) General Unlimited Companies No limit on the no. of companies that can be maintained using single Tally License
13) Group Company Consolidation of Companies is possible and Reports for group company and individual company can be viewed in single screen.
14) General Unlimited period handling Data of any number of financial years could be continued within a single company
15) ERP Jobs and Recruitment
To serve the needs of Tally customers who are looking for suitable resources for various openings in their organization and also to help the candidates who are looking for suitable job openings, Tally ERP  introduces for the first time Job & Recruitment feature.
For Employer Every customer of Tally ERP could publish the requirements of candidates for various posts lying vacant in the organization.
He gets update on the number of candidates who have shown interest for the job opening. He also gets to know the list of candidates who have uploaded their resume and reach out to them for an interview.
Employer is also provided with question bank for conducting online test to evaluate the knowledge of a candidate.
He can configure the process of selection. For Example – entry level job could be completed with a test on product knowledge and HR interview. Senior Job Openings could have a more detailed recruitment process like – technical test, background verification; interview by panel of experts on the topic, Group discussion, HR interview etc., Tally ERP provides the employer to configure the selection process as for both the above jobs in the same manner as he needs. So that he gets to know how many right from how many candidates have applied for a job to update on which candidate is on which stage of recruitment and the final result of the recruitment. For Candidate Every candidate has an option to become part of student subscription which is valid for 1 year and upload his resume. Candidate could see the list of job openings available. He can apply for any opening in which he is interested. Candidate is also provided help to enhance his product knowledge by taking up online mock test to understand his current product knowledge and to improve the same. Candidate is also provided with a self-improvement path, where for various job the list of expected skill set is listed and he himself could evaluate on various parameters and understand what is current position and work to improve his skills and product knowledge so that he could reach his dream job. Tally ERP  acts as a bridge between an employer looking for candidates for his organisation and a candidate looking for a suitable job to support his career.
16) Multi Columnar reports – between multiple Companies. Similar Reports between more than one companies can be compared in single screen. Balance Sheet/ Profit & Loss Account/ Trial Balance of two or more companies can be compared in single screen and can be exported to excel
17) Payroll – Tally ERP Payroll is fully integrated with Accounting to give the users the benefit of simplified Payroll processing and accounting.
Tally ERP Payroll enables users to set up, implement and process Payroll with simple to complex criteria, as per the organization’s requirements. The predefined processes available in Tally  ERP helps to automate the Payroll processing without any errors.
Tally ERP Payroll also provides management related Information reports and statutory Forms and reports in the prescribed formats viz., Pay Slip, Payroll Statements, Attendance and Overtime Registers, Gratuity, Expat Reports and so on.
18) SMS Query – Tally ERP also provides facility to get all the above information by SMS to your mobile. The pre requisite is that – you need to have Tally.ERP with Tally.Net subscription. Authorize the required mobile numbers in Tally ERP. Whenever the data is in connect mode, from any authorized mobile number you can send SMS in normal plain English language (just like how we speak English in our daily life) and get the relevant information from Tally ERP on the mobile directly via SMS.
19) Exception Reports – Negative Ledger/ Stock Exclusive report with details of stock/ Ledger that has negative value.
20) General Warn on Negative Cash Tally Cautions when the cash balance becomes negative.
21) Inventory Tracking Additional Cost of Purchase For precise calculation of cost of stock – additional cost incurred in receiving the goods can be accounted with stock value.
22) Inventories tracking no – to ensure Sales Invoice Made. for All goods sent as per DC To ensure the sales transaction cycle is completed.
23) Inventories tracking no. – to ensure Purchase Bills
Received and accounted for All goods received as per GRN To ensure the Purchase transaction cycle is completed
24) Cost Centre and Cost Category.
COST CENTRE–> Tracking Accounting Overheads to various departments/locations/employees/vehicles/projects etc., **** COST CATEGORYIES facilitate third dimensional reporting of Expenditure and revenue. Examples of Cost Categories : Region wise or geography wise, Grade wise, Department wise and so on
25) General Multi – Currency
User defined Currency can be created – apart from a preferred base currency. Transactions could be recorded in any currency as per user’s requirement and reports can be viewed accordingly. Adjustment of Forex Gain/Loss is also handled.
26) Budget for Groups, Ledgers and Cost Centre. Variance report in terms of Value and %. Can View Actual Values which are within budgeted value and exceeding budgeted value. Can create any number of new budgets from one single master budget
27) Interest Calculation – t on Receivables and Payables If the user wishes to calculated interest on his receivables or payable – Tally is ready to support it both in terms of simple interest/ compound interest.
28) Setting Credit Limits – in terms of no. of days and value Credit Limits could be defined in value and no. of days
29) MIS Scenario Management Without disturbing the actual data – if the user wishes to check the outcome of some trial entries as a scenario – it is supported.
30) Inventory Reorder Status. The Reorder Status gives you information on available stock, reorder level, minimum reorder quantity and accordingly the next order to be placed by the business concern.
31) Inventory Job Costing – It helps in accumulating Cost and Revenue for a particular Job / Project. It allows tracking transfers of materials from one Store to another. It allows tracking of consumption of materials at different locations. It ascertains profitability i.e., Net Profit / Loss for a particular Job / Project. It provides summary of inventory movements (Opening, Inwards, Outwards , Transfer, Consumption etc.) Allows comparison of each element of cost, selling price and profit with other jobs in single screen Allows drill down till voucher level for any kind of alteration or reference.
Wow Factors for a CFO / Business Owner Receivables and Payables Management
32) Inventory Price Level – Create different Price Levels and assign different Price Lists to these Price Levels. ** For example, we can create Wholesaler, Distributor and Customer as Price Levels and assign applicable Price Lists to these Price levels, as per our requirements, so that only the relevant prices and discount rates are used during entry of orders and invoices
33) Inventory – Point of Sales Billing – including Barcode Scanner
Manages inventory and facilitates bar code scanner operations. Offers a flexible and simple way of querying your inventory and sales information. Helps you to track the movement of items Tracks and records the date and time of every sale made at the store.
Helps faster printing of Invoices.
34) Inventory Barcode Sticker Generation Barcode Labels could be printed using Tally ERP 35 Ratio Analysis is a single sheet report indicating the company’s performance based on values and key indicators, over a selected period. This report gives a manager an idea of the company’s financial condition and where it is going in the short-term.
36) Balance Sheet with different Stock Valuation Methods Tally offers multiple stock valuation methods – for the user to choose from
37) Comparative Report of Sales Vs. Purchase.
38) Multi Column Cash Book, T- Column Cash Book, Daily Cash Break up.
39 )Inventory Stock Summary A Stock Summary is a statement of the stock-in-hand on a particular date.
40) Inventory Store Summaries. While the main Stock Summary shows the stock position for the entire company on a given date, the Store / Location Summary is a statement of stock-in-hand at each location on a particular date.
41) Inventory Stock Query – The Stock Query report provides complete information pertaining to a particular stock item viz., Alias, Part No., Stock Group, Stock Category, available Closing Quantity & Balance, Cost Price, Std. Selling Price, Costing Method and Market Valuation Method and so on.
42) Inventory Stock Cost Estimation Cost Estimation is a statement that gives the value of the cost incurred in the manufacturing of finished goods.
43) Inventory Movement Analysis – Stock Group Analysis
This report shows the details of inward and outward transactions carried out for all the stock items in that group.
44) Inventory Movement Analysis – Stock Category Analysis displays the movement of Stock Items of a selected Stock Category.
45) Inventory Movement Analysis – Stock Item Analysis This brings up the Names of Suppliers, Customers of each stock item and also Transfer-wise details.
46) Inventory Movement Analysis – Group Analysis Displays information of purchase and sales for every stock item in single report
47) Inventory Movement Analysis – Ledger Analysis of all purchases made from a supplier, or all items sold to a customer.
48) Inventory Movement Analysis – Transfer Analysis. This is a very useful costing and waste analysis tool. In non-manufacturing set ups, which have Multiple Stores, this report is a quick check to verify that all transfer entries have been entered correctly.
49) Inventory Stock Ageing Analyses
An Ageing Analysis Report in Tally ERP displays the age of the stock in hand. (This report lists the age-wise break-up of Inventory to point out old stock. Tally ERP give its users the flexibility to define their own ageing slabs)
Ageing Analysis lists out items batch wise that have already expired or may expire in the near future. This information will help you in keeping track of the age of
stock and also quick moving inventory, since the older stock may depreciate in value or become obsolete and result in a loss.
50) Inventory Physical Stock Register
A Physical Stock Voucher is used to record the actual stock of a particular stock item.
This register summarizes the stock adjustments made during the reporting period. An analysis of the stock recorded in the register gives us an insight into the causes of discrepancies to ensure that timely action is taken.
51) General Multilingual Capability Arabic Language supported from Rel 3.0 onwards.
52) Data Synchronization of Data “Tally ERP helps you in managing your branches data in an effective manner. Towards this we have provided a feature called Synchronisation of data. A Head office that has a requirement of managing the data entered independently by its branches could use Synchronization facility. There are multiple options available for a HO to receive data from all branches. HO can either receive the data at the end of the day\ receive the data as and when any new voucher is entered\altered by branches. HO can modify the data received from branch and send it back to the respective branch after correction\alteration. Synchronization could be initiated at any point of time. Options are also available to configure the choice of vouchers while receiving or sending the data between HO & branches.
HO can prepare Group Balance Sheet, Group P &L based on the synchronized data from various branches. HO can also prepare various comparison reports such as Stock available across multiple branches at a time. Expenditure towards a single project being spent from various branches. Over all Synchronization gives the power to the organization to be updated regularly about their branch activities and thereby make the management of branches more effective…
53) Inventory Multi Location Warehouse management. Stock Across multiple locations can be viewed in single screen.