Tally solutions is a well known software company due to its iconic accounting software, it has a huge client base not only in India but outside too. Tally accounting software is incredibly powerful accounting software and its high usability has contributed in its success for last 20 years. This software along with features of accounting also include advanced sales and purchase invoice, stock queries, multiple inventory valuation, flexible units of measure, multi-lingual, data synchronization and MIS capabilities.
With tally accounting software small and midsize companies get a business solution which can handle important aspects of organizations functionality to reduce man power and human intervention in repetitive processes. Tally accounting's latest version support, simple accounting, by performing activities like keeping records, receivables, payables, managing debtor and creditor accounts and bank book. Further advanced modules which come along with main software support financial management with facilities of multiple locations, multiple companies, multiple currencies, consolidation, daily transactions, daily cash flow, fund flow and interest calculations. Another added feature with accounting software is for inventory management which gives options for sales invoice, purchase invoice, stock position at one or many locations, stock consumptions and flexible units of measurement of stocks.
The major advantages of tally accounting software is its ease of use, the software is extremely simple in handling and online help is available so that even a layman can use it who may not have knowledge of accounting. This easy usability helped tally in gaining vast clientele. Capability to handle many companies through single software allows large organizations to use the accounting software for the purpose. Unified ledger system which was first introduced by tally is unique which integrates general ledger, sale and purchase ledger into one, separated by groups, for easy data feeding and handling.
Comprehensive accounting which takes each and every entry up to final books like trial balance and balance sheet immediately to keep accounts updated always is another feature of tally accounting software. Complete book-keeping is possible through this software with entries for debit notes, credit notes, adjustment journal and reversing journals apart from general transactions. Maintaining invoices along with due dates and ratio analysis are other features which helps the management in getting a bird's eye view of the company. Budgeting with original and revised budgets, scenario management that allows user to plan by making future assumptions, unlimited cost\profit centers and connectivity with common office applications like MS-excel and MS-word to provide reports in this format for further analysis, adds up the ease and comfort while working with this solution.
Tally has developed a unique platform that uses concurrent multi-lingual programs and object oriented databases engines. Tally uses a unique self developed C:Mulate, concurrent multi-lingual accelerated technology engine and open architecture with open database connectivity for communication with other ODBC compliant applications and packages.
Tally accounting software is not web-enabled software which restricts its usage with companies working at different and with far working locations. Data privacy is another point of criticism of this software which deters large organizations to use it as their main accounting software.