Tally Prime is a comprehensive business management system. Accounting, Inventory, Statutory and Compliance, Banking, Payroll, and a variety of other activities can all be managed. To learn Tally, BIIT is a best coaching institute to learn Tally prime or Tally.Erp9.
Tally Prime is a comprehensive business management system for small and medium-sized organisations. With remote access features, the programme aids in the management of various elements of a business, including accounting, inventory, banking, taxation, and payroll. Tally ERP 9, an older version of Tally, has been succeeded/replaced by Tally Prime, a newer version of Tally.
Tally ERP 9 vs. Tally Prime: What’s the Difference?
Tally Prime is Tally Solutions Pvt Ltd.’s most recent version of business management software. The following are some of the most significant differences between Tall ERP 9 and Tally Prime:
You need to open multiple instances of Tally ERP 9 to multi-task
You can multi-task without opening multiple instances of Tally Prime or losing any progress
Only menu based navigation option to view reports
You can navigate to any report from any screen using ‘GO TO’, which acts as a powerful tool to search and discover
Switching modes would be tedious
You can slice and dice your reports and look at them the way you want using ‘Change Mode’ and ‘Basis of Value’ option
You can view the exceptional details only for pre-defined reports, available under exception reports
Every report in Tally Prime has option of ‘Exception Reports’ that highlights the details that stand out
Flow-based data entry system that requires you to go through each field to update details connected to the Ledger/Stock Item, and so on.
More Details’ in Tally Prime makes it easy to update the occasional details without disturbing your regular flow of data entry
Copy Paste using Ctrl + Alt + C & Ctrl + Alt + V
Copy Paste either using Ctrl + Alt + C & Ctrl + Alt + V or using Ctrl + C & Ctrl + V
What characterizes Tally prime has?
The following are the features of Tally Prime:
- Accounting and Invoicing– You can create a professional GST-compliant invoice in seconds. With the ability to add your brand, customise extra invoice information, and more, according to your needs.
- Flexible Purchasing and Sales Management– TallyPrime is designed to be extremely flexible in order to handle a company’s diverse purchasing and sales operations. Whether it’s purchase or sales orders, debit or credit notes, TallyPrime will keep your records up to date.
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- Different Billing Formats– TallyPrime supports a range of billing formats to match the needs of your business. Whether you sell products or services, you can choose an appropriate invoice type for faster invoicing.
- Units of measurement that can be changed– Tally Prime makes real-time complexity simple, such as “the requirement to acquire in one unit and exchange in another,” “Stock Items needed to be assessed in more than one unit,” “measuring the component of a stock item with variable conversions,” and so on. Customizable units of measure in Tally Prime enable you manage and analyse your stock the way you choose.
- Reposition the levels– Tally Prime’s Reorder level ensures that you’ll never run out of stock and that you’ll always know what has to be replenished and in what quantities. You can set a minimum order level and a re-order level. The system will generate an automatic re-order status report that contains the shortage as well as the quantities that need to be ordered.
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- Manufacture and Expiration Date Management– Managing the manufacture and expiration dates is crucial for firms dealing with things with a certain retention term or short durability. In TallyPrime’s batch summary report, you may save batches with manufacturing and expiration dates and get complete transparency of batch details like mfg. date, expiry date, number of days to expiry, and so on.
- Flowchart of Materials– The entire Bill of Material (BoM) function in TallyPrime allows you to specify the simple factors, assemblages, parts, and components, as well as the quantities of each inventory, required to construct a final product. You can also describe by-products, co-products, and scrap in the BoM for completed goods. BIIT is a top rated computer institute located in East Delhi for certificate/diploma or degree courses.
- Receivables and Payables Management– TallyPrime automatically generates a unique bill reference for each outstanding invoice in order to keep track of them. Simply track the bill when receiving or paying it, and you’ll be able to track and match invoices, as well as learn about pending bills, in no time.
- Cash Flow Projection– A cash flow projection takes into account a number of potential inflows and outflows and anticipates the net amount available at a given point in time. The immediate cash flow projection report in Tally Prime helps you plan your investment or expenditures while keeping the expected inflow in mind.
- Interest Calculation– When it comes to outstanding or debt administration, you may be able to charge the community interest that is past due. Tally Prime simplifies things by automatically computing interest and helps in the accounting of accumulated interest using either the Simple or Compound interest techniques.
- Multiple Employees Assembled– TallyPrime allows you to categorise personnel based on a variety of characteristics, such as their job description, division, cadre/designation, and so on. By specifying pay structures at the Worker Organizational levels, you can apply a common compensation structure to an entire department, such as Marketing, R&D, Sales, and Accounts.
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- Ability to work in a variety of languages– Tally Prime enables you to run your business in your native language. India is a multilingual country with businesses from a wide range of industries. Tally recognises how beneficial it is for you to conduct business in your preferred language.
- Tally Vault is a fictional character created by Tally Vault– As a business owner, you may want to keep your corporate information safe and secure at all times. You may keep information private by encrypting it with Tally Vault.
- Administration of Users– Tally Prime makes the process of creating and maintaining users a breeze. Multiple users can be established fast, with security levels based on role, passwords assigned, and users deleted.
- Password Policy Administration– By limiting access to financial data to only those who are authorised, a robust password policy will increase data security. In Tally Prime, you may define a password policy that specifies the password strength, expiration, history, and whether or not the user can change their password.
- There Are Several Security Levels That Can Be Defined– TallyPrime allows you to configure multiple security levels, provide user-level privileges, and grant workers specific access based on their tasks and responsibilities.
- For Business Forecasting– Improve firm forecasting for better financial planning by visualising numerous business scenarios and analysing preliminary findings. By simulating numerous business scenarios, TallyPrime assists you in managing uncertainty.
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