Accounting Features in Tally ERP 9 Accounting Software

Positioning of Accounts Masters in Report:

Tally 9 is primarily a codeless system and as such when a new ledger or Group is created, it appears alphabetically within the parent Group. Though it is fine and acceptable in normal cases, you may find it inconvenient in certain cases. To make the things straight, Tally Provides a concept of Position Index that allows you to place any item in the Reports at your desired sequence, instead of alphabetical order. However, the position Index is not Report specific, so it may conflict in the desired arrangement between the Reports. Still, with proper planning, you may expect to get almost as desired

Bank Reconciliation:

Tally 9 provides Bank Reconciliation but it is not exactly what we normally understand by the term BRS (Bank Reconciliation Statement). Tally 9 gives some rudimentary facilities to help you track the cheques with the clearance in Bank Pass Book. Helpful for Statutory Auditors to track down clearance of cheques at a later period, to build up the BRS.

Interest computation:

Tally 9 has many features for various methods of Interest computation. You can configure the options in your own way and get interest computation statement on overdue Bills, Loan etc.

Tally 9 even provides penal & variable Interest rates. It also allows special periods like 30 day month etc, to meet traditional interest computation, still in vogue in Marwari Accounting method.

However, you may not be able to compute Interest on Bank Cash Credit & Overdraft account as Interest is computed on balance as per books of your banker. Due to time lag between issue of cheque and its clearance by Bank, the daily balance will normally differ from the bank Pass Book. Tally 9 does not automatically take into consideration the date of clearance of cheque from the Bank Reconciliation, for the purpose of Interest Computation

Group Companies

To get consolidate report of a Group of Companies, you can link up several companies and place under a Group, making it more convenient to automatically get consolidated reports for the Group.

Query Builder

Tally 9 provides a good Query Builder to work with Display with easy to understand Query sentences / phrases to club several queries. Though so many options may seem daunting, with little practice, any user will be able to understand its implications and use the queries effectively. Query Builder is covered comprehensively in this Tally Tutor.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...