Tally’s different versions have been launched over the period of 30 years and each latest version released brings some major evolution and improvements such as business systems for multi-location, inventory management practice, payroll, statutory & GST regime, etc.
With the profoundly rooted aim of fulfilling customer’s needs and delivering advanced services that would progress the business growth by increasing efficiency and versatility. Initially, it was labeled as Tally ERP release 7 or Tally 18. Tally Solutions launched the latest version: Tally Prime, which is a special & innovative brand look but similar to Tally ERP 9. Installing Tally Prime will now allow CA, Entrepreneur, Business Management, accountants, and other users of Tally to conveniently manage their work and make it simple each day.
Note: You can concurrently run Tally ERP 9 and Tally Prime on your active license.
Tally Prime is the latest release of Tally ERP 9. Tally Prime’s official launch was on November 9th, 2020. For any business, Tally Prime is the supreme software that provides robust capabilities for detecting and correcting errors. The organization’s interest evolves as it grows and Tally Prime is flexibly designed, to match all of these.
Tally Prime is a business management application that watches out for accounting (sales & purchases, receivables & payables), Management of payroll and inventory (processing orders, inventory monitoring), bank transactions, statutory, etc.
Tally Prime further eases decision making for business leaders by delivering important and accurate reports. Strategic planning and decision making are much effective and simple with Tally Prime reports. It offers all accounting and financial reports, cost centre reports, cash flow reports, and many other detailed reports.
The most notable & prominent accounting application is Tally. This application has been supporting organizations worldwide for more than 3 decades.
A person does not have to be skilled in the application and Tally Prime software can be operated effectively by anyone. This is designed in such a manner that it can be used by an accountant, small business owner, or any other user of Tally. Tally Prime has a prominent ‘Go To‘ function in the navigation bar that allows access to 90% of the program.
Besides easy access, Tally Prime provides some really detailed reports at a blinking pace. These provide you with detailed reports on ratio analysis, receipts & payments, and several other informative reports. Decision making has never been so quick and convenient. Tally Prime also provides statutory compliance, which indicates that Tally supports all statutory-related modifications.
Tally Prime is an excellent business ERP application. It can be thoroughly used by small, medium, and large entities. It is an exceptional solution suite that can also be customized if required. Tally Prime is a GST-ready software. Understand the advantages of Tally Prime software below:
The benefits that Tally Prime would provide your business includes:
The complication of any entity is that they can not disrupt their functions at any time. Tally Prime makes things much simpler for all businesses. The user can pass their first transaction within moments of downloading the application. As businesses need to develop various types of vouchers most of the time, Tally Prime offers the flexibility to produce on-the-spot masters.
Latest features and functions are anticipated to be introduced to the organization’s current ERP applications as it grows over a period of time. Based on their growing circumstances, Tally Prime permits the inclusion of features such as numbers for inventory batch, sales and purchase order processing, and much more. Many such functionalities can be allowed at any point in time without interrupting previously documented transactions.
Tally Prime flawlessly executes compliance. Even in the mid of a financial year, it makes it much easier to handle financial details in Tax regimes. GST only belongs to a particular series of transactions that the business owners provide with the date of GST commencement. Nothing is altered in the data pertaining to the earlier tax regime. Data splitting is not necessary for two different tax regimes. Tally Prime oversees that.
In the newest Tally Prime, the user can traverse and check at elaborate reports with “Go To” and “customizable reports” features and can also conveniently chop them the way you require. Tally Prime supports your growth by managing multiple companies and gradually integrating features like multiple go-downs, multi-currencies, cost centers, processing orders, etc. This helps you to get away from uncertainties and focus on business growth in return.
1. The user can easily access business information through various reports & freely switch among them, no matter in Tally where you are, with the new Go To feature.
2. When the user either wants to create company data or lade existing data of the company, they can even explore Windows folders from within the product.
3. Printing out invoices & reports in Tally Prime is much more favorable with the opportunity to print eco-friendly from anywhere as it retains 50% of the paper.
4. Integration of key combinations like Ctrl+C & Ctrl+V for windows to harmonize.
5. The application has strengthened the functionality of the mouse so that the user can operate the application as seamlessly as they navigate it on the keyboard.
6. Change Mode launched to toggle between the different transaction modes without considering pre-configuration.
What is exceptional in Tally Prime? How to upgrade to Tally Prime? The comparison of Tally ERP 9 and Tally Prime is listed below. Th e information will guide you to move effortlessly through Tally Prime while evaluating the features of your existing Tally ERP 9.
A significant improvement in the functioning and appearance of Tally ERP was implemented in this latest version. Tally ERP 9 released Tally Prime in order to make everyday activities easier and to operate the business more efficiently. Tally Prime ensures that you adhere to your goals with the strategies, provides safe any time access to detailed business insights and reports from anywhere on a computer or any other device to take favorable business decisions and track the development periodically. Make your Tally more efficient by hosting your version of Tally on cloud, for any details visit Tallycloudhub Today.
Tally is configured easily and can even be operated by users from non-IT and non-account backgrounds. Tally Prime can be accessed instantly as it provides easy data discovery, a persistent option, access without remembering the paths, and much more.
Critical business data and insights can be securely accessed on a real-time basis on Tally Prime using a web browser from anywhere on any device.
The user obtains insight reports to make effective business decisions with the help of a variety of business reports like Accounting, Finance, Inventory, MIS, and Statutory Reports.