Features Tally ERP. 9 (ENTERPRISE RESOURCE PLANNING) has powerful software for accountant. It plays a very important role for doing all the work in a systematic and efficient way. with the help of this software we can easily known about the. financial position of the company. These features will helpful to take quicker decisions and enhance your productivity.
- Accounting features
- Inventory features
- Statutory and taxation
ACCOUNTING FEATURES (F1)
First of all we will explain accounting features:
- Integrate accounts and inventory
- Income and expenses statement instead of P&L
- Allow multi-currency
- Maintain bill wise detail
- Activate interest calculation
- Maintain payroll
- Maintain cost centres
- Use cost centres for job costing and more than one payroll /cost category.
- pre-defined cost centres allocation during entry
- Allow invoices enter purchase in invoice format
- Use invoice mode for credit notes
- Use invoice mode for debit notes
- Maintain budgets and control
- Use reversing journals & optional voucher
- Enable cheque printing
- Set/alter cheque printing configuration
- Allow zero valued entries
- Allow access in tally mobile
- Enter purchases in invoices format
- Use debit/ credit notes
Why it will be activated?
It can be explained in detail:
1. Integrate accounts and inventory:
It is so because showing opening and closing balance in profit and loss account.
2. Income and expenses statement instead of P&L:
some business where trading is not necessary. In other words we can say that where transaction is not related to credit sale and purchased. In such a case only income and expenses are required not a P&L.
3. Allow multi-currency:
At the time of purchase (import) and sale (export) allow or activate multi-currency. In other words we can say that when any business relations which are related to outside India then under such circumstances need arises to activate the multi-currency.Multi- currencies like: rupees, dollar, pence, pound, etc.
At the time of purchase (import) and sale (export) allow or activate multi-currency. In other words we can say that when any business relations which are related to outside India then under such circumstances need arises to activate the multi-currency.Multi- currencies like: rupees, dollar, pence, pound, etc.
4. Maintain bill wise detail:
when any party name are written then activate the maintain bill wise detail. It would be difficult to match a payment to an invoice where there are a large number of entries. Business usually wishes to maintain details of their creditors and debtors at the invoice level and, in Tally, this is called Bill-wise accounting.
5. Maintain payroll:
It is that amount of salary which is paid by the company to the employee after deduction the tax. Payroll plays a very important role in company. It is also very helpful for the government because proper tax is deducted from every employee salary. The main aim of payroll department is that salary are paid to employee accurately, timely, systematic way. Payroll really helps to reduce the confusion.
6. Maintain cost centres:
Cost centre and cost category is very helpful to maintain detail about the employee like employee name, employee salary (basic, daily allowances, HRA (house rent allowances) etc. Before starting the cost category &cost center is very necessary for every accountant to know about cost category & why need arises to activate it
7. Use cost centre for job costing:
It is also activate at the time of maintain cost centre.
8. Use pre-defined cost centre allocation during entry:
It is also activate at the time of maintain cost centre.
9. Allow invoices & enter purchases in invoice format:
using in voucher entry for sale and purchase. As voucher type.
As invoice type.
10. Use debit/ credit notes &Use invoice mode for credit notes & Use invoice mode for debit notes:
- Debit note: When goods are returned by the customer to the supplier due to wrong quantity or quality of product, rate difference, discount, commission, etc. is known as debit note. It is also known as purchased return
- Credit note: It is an official or commercial document which is provided by supplier to the customer.
11. Maintain budgets and control:
It is so because when any person can start the business then some standard budget fix for sale and purchased budget. When it is below from the standard then it can be checked through the trial balance.The main advantages of budgets are that every owner of the Business can easily understand business can run smoothly or properly or not. It is very helpful to run the business in an efficient way.
12. Use reversing journals & optional voucher:
It is just like a reminder. When any entries which are make at the end of month it is recorded in advance in reversing voucher. When any mistake arises at the time of making entry then with the help of reversing voucher it can be corrected without deleting the entry.
13. Enable cheque printing:
for all the setting of cheques at the time of printing.
14 . Allow zero valued entries:
It is activate only that situation when you doesnot want to write a rate and amount in accounting voucher.