Tally 5.4 – This version offered a graphic user interface for Windows. Tally 4.5 – The first version of Tally was a DOS-based application that computerized basic accounting needs.Ģ. They can be majorly divided into the following ones:ġ. There exist more versions of Tally than the Batman movies over the years. What are the different versions of Tally? The above-mentioned features of Tally were gradually added to different versions of Tally to make it the product it is today.
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Additionally, it reduces the paperwork associated with manual accounting. Any new updates, such as GST, can be availed through an affordable subscription.
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Cost-effective – The educational version of Tally is free whereas the licensed one can be accessed for a lifetime. Tally was able to bring out a product that made the transition smoother for businesses.ġ1. GST compliance – The introduction of GST was a massive change in the taxation system in India. It can also help you in seeing patterns in current data.ġ0. Data forecasting – Based on your data from last year, Tally can help you in preparing a budget for the coming year. This shows how Tally has adapted to a complex, Indian business environment.ĩ. This allows users to view and print reports in a language that they are comfortable with. Multilingual support – Tally supports 13 languages including Indian languages such as Gujarati, Marathi, Hindi, Telugu, and so on. All they need is a unique user id and password.Ĩ. Remote access – Tally users can access their accounts from anywhere. Moreover, it has different security controls which allow you to manage access to sensitive data.ħ. Safe and sound – Data entered in Tally is encrypted cannot be easily tampered with or changed. Flexibility – Tally allows you to switch between multiple reports, companies, and different branches of the same company.Ħ. It has a simple, user-friendly interface that is easy to use and makes accounting accessible even for learners from a non-commerce academic background.ĥ. Easy-to-use – The tagline of Tally is ‘Power of simplicity’. Versatile – Tally can be used many tasks such as accounting, billing, inventory management, tax management, payroll, etc.Ĥ.
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Error-free reporting – The calculations are automated in Tally, which reduces the number of errors that may be made during manual accounting.ģ. These real-time reports help businesses in making crucial decisions faster.Ģ. Once you enter ledgers and vouchers in Tally, it can generate balance sheets and profit and loss reports within a few seconds. Lightning-fast – One of the most important reasons why Tally became the go-to choice for accountants and auditors is because of its swiftness. To begin with, let’s find out what are the features of Tally that makes it an industry leader:ġ. What are the careers that you can explore after learning Tally?
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What are the different versions of Tally?Ĥ. In this article, we will cover the following aspects of this software:Ģ. This popularity remains unparalleled even today with a user base of 2 million businesses worldwide.
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It developed a computerized accounting software, Tally, and revolutionized the business accounting landscape.ĭeveloped in 1986, Tally quickly became the go-to accounting software. However, manual accounting could get taxing. Traditionally, this was done manually wherein an accountant used notebooks to maintain a balance sheet and calculate income and expenditure.
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Besides keeping a track of your company’s finances, it helps you see the financial growth and make strategic decisions.