Tally ERP 9:: An Overview - Features & Functions of Tally

Comprehensive Accounting:
Maintains complete range of Book of Accounts, Final Accounts like Balance Sheets, Profit & Loss Account statements, Cash and Fund Flows, Trial Balances and others.

Receivables & Payables:
Provides multiple Reports in diverse formats: classified, grouped. You can also specify aging slab and can send Reminders (Text of Reminders can be customized)

Interest Calculation:
Various options for Interest Calculation

Multi-Location Stock Control and Multiple UOMs:
Tally 9 can maintain single-location or Multi-location stocks. Multiple Units of measure for each item.

Unlimited cost / profit centers:

Unlimited sub-classifications to get multi-dimensional analysis and comparatives.

Unlimited Companies and Periods of accounting:

Allows accounts of multiple companies at the same time. You can compare, Consolidate Several companies together.

Financial year:

Financial year may span any period

Multi-Currency Accounting:

Multiple currencies in the same transaction and viewing all reports in one or more currency.

Sales & Purchase Orders:

Tally 9 offers comprehensive reports giving current stocks along with order status.

Budgeting, Auditing and Security control:

Unlimited budgets and periods, user definable Security Levels for access control, and Audit capabilities to track malafide changes.

Quotations, Orders, Invoices, Vouchers and Cheques:

Prints online. Several options for configuring default format

Import / Export of Data:

Allows Import / Export of Data from / to other systems.

Here are some elaborations of some of the important features.

Accounts Organization: Ledger Accounts and Groups:

Tally 9 provides good ability to organize accounts ledgers and Groups in a versatile way without any limit on depth of nesting, number of Group and Sub Groups and number of Ledger accounts that can be placed under any Group.

Apart from the pre-defined Reserved Groups, you can create new groups that may be Primary or sub-group to any existing Group / sub-group.

Control Ledger Groups

Tally 9 does not have any concept of Sub Ledgers. Through its ability to nest Groups & Ledgers, you are able to organize the accounts quite efficiently. However, you may need to create several hundred ledgers which may clutter the Final Accounts. To simplify this, you may specify any Group as Control Account. In that case, Tally will show the control totals and clubbed figures of the underlying ledgers, while providing individuals transaction & balance of each individual Ledger.

Posting Closing Stock Value in Accounts:

Integrated Accounts and Inventory:

Tally provides option to post stock value from Inventory directly to Balance Sheet & Profit and Loss A/c., as per the valuation method specified by user. This greatly simplifies the procedure and you get the Final Accounts which is in tune with the Stock statements of the Inventory System.

If you are maintaining only Accounts, then Tally provides you option to enter the value of closing stock for any specified date. The system is flexible and you do not need to create any Journal Voucher. It automatically picks up the closing stock value of the corresponding date and you can print Balance Sheet and PL account of any date at a keystroke.

Non-Integrated Accounts and Inventory:

When you wish to maintain Inventory but do not wish to link it with Accounts, you do everything in the same manner as you do in Integrated Accounts & Inventory, the only difference being that you are allowed to enter your own value of closing Stock, which gets reflected in Balance Sheet and Profit & Loss Account.

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