The need for modern scale development is on the rise and with a lot of competition rising on the horizon, it is indeed getting crowded. There has been a lot of companies that have exceptional ideas but could not survive in the market for a long time. The sole reason for that is that the company didn’t have an accurate track of all their expenses.
The overall running and operations of the company are solely based upon the cash flow and the number of assets the company is handling. If there is no proper accounting of all the profits, losses, expenditure and capital, it will be a major problem for them to track progress.
When there is no progress it means that the company is in troubled waters and that eventually will lead to the downfall of the company. To make sure that there is a proper track of all the expenses, accounting is very crucial and one of the tools that will aid you in keeping the records safe is definitely Tally.
Tally is an accounts-keeping dedicated software that will make sure that you will have a complete record of all the expenses that you make in running the company. The tally will enable the users to enter all the accounts that they are maintaining in the company and that will include any of the bills and cash that is spent by the company. Keeping track of all these offline could be a herculean task.
Some of the features that make Tally one of the most reliable accounting software are;
1. Interest Calculation
The calculations that we do in accounting always involves frequent interest calculation. With a lot of accounting in hand, the probability that you will go in the wrong in calculating the interests is high. The algorithm with which the Tally. ERP 9 is based will ensure that accurate interest costs are taken into account.
2. Cash Flow record
When you are running a company there are a lot of ways in which you can let the company bleed of its capital and if it doesn’t have a strong cash flow record, within a short span of time your company can go bankrupt.
The Tally is equipped with the cash flow and fund flow record feature that will continuously record the flow of funds that are flowing in and out of the company. If there are any hindrances in cash flow that can also be known through Tally.
3. Bank accounting
Most of the companies that use tally have a bank account linked to them. Since the companies don’t have a similar system as that of an ordinary domestic user, most of the banks look at the tally sheet of the company to process fund transfer and authorize withdrawals and cash handlings within the company.
4. Multi-currency handling
There are a lot of companies that have business overseas and most of the companies tend to have transactions in the native currency. When there is a difference in national currencies that will ultimately have a cascading effect on the account balances. With Tally, the transaction becomes effortlessly simple and you don’t have to hover around your accountant to get the accounts right.
Most of the pays and transactions that happen within companies are through cheques. The essential background check of the cheques must be done and a proper record of all the transactions through cheques must be kept on record. This can happen only when there is a proper maintenance system and that is Tally. Tally will keep a record of all your cheques and make sure to make alternate adjustments in the accounts when there is more work involved. The biggest liability is also that the system can balance the cheques.
There are also a lot of other features like balance sheet maintenance, e-payments and so on that make Tally the best accounting software for your accounts team. There are a lot of perks with using tally for keeping a record of all your finances. You don’t have to rely upon old records and books to look through data.
The system requirements for Tally is one of the simplest and easiest ways in which you can get things done. some of them include:
- Operating system: Compatible with Windows NT and above (normal and server editions) 32-bit and 64-bit compliant.
- RAM requirement: 4GB or more
- HDD Space: 150 MB for installation alone. The variations in space will depend according to your usage.
- Processor: 1.8 GHz processor minimum to the i7(latest generation)
Download Tally ERP 9 Full Version for free
The tally software provided here is a trusted file and doesn’t contain any type of Malware. Make sure that you complete all the system requirements so that there is no hassle in completing the installation. The link to download the Tally installer can be found by accessing the link below.