Tally

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Tally:
Tally is an ERP accounting software package used for recording day to day business
data of a company.It helps companies record their day-to-day transactions and helps
to analyze business-related data.

It is used to automate and integrate all your business operations, such as

purchasing, finance, sales, inventory, manufacturing.

Features of Tally

1. Tally is largely considered the best because it is easy to use, and

powerful, operates at high speed.

2. Tally is also called multi-lingual software because Tally supports

multi-languages.
3. Using the Tally, one can create and maintain the accounts up to 99,999
companies.

4. Tally syncs transactions across multiple offices which can be updated

automatically.

5. Tally is used to generate consolidated financial statements as per the

requirements of the company.

6. Tally can manage single or multiple groups.

Advantages of tally

1. In Tally, the entered data is reliable and secure. Once data is entered into
the software
There is no scope of entering the data,

2.With various language support, it is convenient for a user to use it in his own
language.

3.Banks use Tally to manage various user accounts, and also calculate interests on
deposits.

4.Tally software is used to manage the data of an organization globally.

5.employees can access the financial data by verifying the user id and password.

Remote access :

Some companies have branches all over the world. The new feature of Remote Access
makes working from different geographical locations among those branches

1. NET: It's a secured channel developed by Tally Solutions for sharing

business data. This secure channel uses end-to-end encryption, which makes it so
secure that even employees of Tally Solutions cannot see or use your data.
 2. Control center : the control center is the place where we can control
our account. We can see all the connected users to a particular account, and manage
them.

3. Multiselection: With this feature, the user can select multiple entries
at once to cross-check them. By pressing the space bar on the keyboard one can
select multiple entries at once.

4. Auditor Edition: It has made Chartered Accountants [CA] work very

simple with this featureit's a totally different edition of Tally, which is
specially designed keeping CA's

Disadvantages of Tally

1. Retrieving the data after forgetting the user ID and password is a bit
difficult. Fewer, data security is also one of the disadvantages.
2. It is complex software for beginners to use.
3. Backing up your data is also one of the issues users face while working
with Tally.
4. Tally has limited customization option
5. Initial cost and licensing fees may be considered a disadvantage.

Versions of tally

The first version was introduced in 1986.

1. TALLY ERP 9
2. TALLY AUDITOR EDITION
3. TALLY SERVER 9
4. TALLY SHOPER 9
5. TALLY DEVELOPER 9

Tally accounting,Manual Accounting and Financial Accounting

1. **Tally Accounting**:
Tally accounting refers to the use of Tally software, a popular accounting
software, for recording and managing financial transactions of a business.

2. **Financial Accounting**:
Financial accounting is the process of recording, summarizing, and reporting
financial transactions of a business in a structured and standardized manner that
can be used to assess the financial health of a business.

3. **Manual Accounting**:
Manual accounting involves recording financial transactions by hand, without the
use of accounting software or electronic systems.

This can be a time-consuming and error-prone process. However, manual accounting

can be a good option for small businesses that have limited financial resources.

Q. Differences between manual accounting and computerized accounting

Manual accounting Computerized accounting
Manual accounting involves recording financial transactions by hand, without the
use of accounting software or electronic systems. Computerised Accounting is
software-based operations done by specific account software which has an automatic
framework.
Calculations are performed manually the calculations are performed by computer
system.
Recording is possible through book of original entry. Data is recorded in the
customised database of the software.
data backup is not possible It has backup features
It is slow It is relatively much faster.