Tally ERP. Capabilities of Tally

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1 Tally ERP All your accounting requirements are supported. And more Accounting, also known as bookkeeping, is the recording and classifying of financial transactions into the books of accounts and associated registers. Tally ERP will help you manage your business operation with ease by injecting efficiency at every stage. Simple yet powerful accounting, finance, inventory and payroll features connect various departments of your business for smooth functioning. Experience the vast product capabilities that address all your business needs effectively. Get on that path to progress with Tally ERP. Capabilities of Tally Capabilities of Tally Includes: Cost and Profit Centres management Budget and Scenario Management Multi Currency Management Multi store management Inventory Management Manufacturing Purchase/Sales Order Management Interest Calculation Payroll

2 Finance Module Tally.ERP comes with rich features & financial reports that give you the necessary management and control of your business. A few of these are listed below: Funds Flow & Cash Flow reports help you locate bottlenecks Bank reconciliation - keeps your bank books in sync, and identify unclear instruments Customer Credit Limits - to limit risk of default and large losses Budgets - keep tabs on projected expenses against actual Mark vouchers post dated - these will reflect into the books of accounts only on/after that date For needs where reports have to consider a transaction that has not happened (say salaries for this month that get paid the next month) vouchers (called 'reversing journals') can be marked to 'disappear' for reports post a specific date "Scenario" management - helps you with your business forecasting and planning. You can use optional, reversing journals and memorandum vouchers, to aid in recording provisional entries that are useful for interim reports Multiple inventory valuation. You can decide one valuation method for the business, and be able generate financial reports using any other valuation method - as the statutory method may not be appropriate for your needs, your bankers and for other decisions Cash balances can go negative - you can get warned if this is about to happen, or see reports and make the necessary corrections Several business exceptions are available (negative stocks, negative ledgers) - for you to exercise control over these activities A one-screen business ratios with drill down right up to the transactions - help you to correct course frequently Item wise & document wise profitability statements to control revenue leakage and inappropriate pricing Internal audits are supported with audit controls - authorized users can mark vouchers as 'audited' and can get to see reports on changes made post audit, and the name of the person making the change

3 Inventory Module Some of the major inventory module features is as follows:- Multi-location Stock Control: Use Tally.ERP to keep track of your stock at a single or multiple locations. Comprehensive Recording of Stock Movement: Record inventory transactions easily and comprehensively using Goods Receipt Notes, Delivery Notes, Stock Transfer Journals, Manufacturing Journals as well as Physical Stock Journals. All stock movements are fully recorded and maintained in Stock Registers. Management Reports: The Movement Analysis report gives the party-wise details of goods bought and sold and helps identify good and bad business partners. Stock Query is a unique single sheet report that gives information on stocks at different locations as well as total stock-inhand. Aging stock Analysis: This report identifies old stocks to aid in decisions relating to their quick disposal. Batch-wise or lot-wise Inventory with Expiry: You can use the concept of Batches or Lots to track stock at the batch level, with expiry date support. Re-Order Levels: Know your stock order position with the comprehensive Order Status reports in Tally.ERP. Specify reorder levels and minimum reorder quantity in absolute quantities or based on previous consumption. In Tally ERP, you can configure and use the following depending on your requirement: Stock categories: Stock Category offers a parallel classification of stock items. Like stock Groups, classification is done based on similarity in behavior. The advantage of Categorizing items is that you can classify the stock items (based on functionality) together across different stock groups, which will enable you to obtain reports on alternatives or substitutes for a stock item. Multiple godowns: Locations/Godowns are places where Stock Items are stored. You can monitor the location-wise movement of stock by creating multiple Godowns. Tally.ERP permits the creation of any number of godowns, under groups and subgroups to match the structure you need. Stock transfers to Locations/godowns: In Tally.ERP, Stock Transfers are recorded using Stock Journal Vouchers and are used to make stock adjustments. For example, to record any increase or decrease in stock due to shortage, wastage of stock or to record inter-godown transfers of stock, assembling or disassembling. It can be used to reflect the status of godown-wise stock. Additional costs incurred during stock transfer can also be tracked. This adds up to the value of the stock but does not get reflected in the accounts.

4 Stock query by stock group, or stock category: Stock Query is a statement which provides all the information related to a particular Stock Item such as: Closing balance and its value. Cost price and Standard selling price of the product. Last purchase details such as date, party, quantity and rate. Information about last sales date, quantity, rate, sales party etc. Warehouse details. Stock items under similar categories etc. Multiple stock valuation methods: Tally.ERP allows you to view the effects of different stock valuation methods on the closing stock value. You can view a columnar display of different stock valuations. Each stock item can be set up to have a different stock valuation method. In some instances, a particular method of valuation may be required, for example, to assess the replacement value or saleable value of stock. Tally.ERP displays stocks in any or all the valuation methods dynamically and simultaneously, without any complicated procedure. Multiple units of measure: Stock Items are purchased or sold on the basis of quantity. The quantity is measured by Units. In Tally ERP, you can define these quantities as multiples of a unit of measurement, for e.g. dozens, gross, carton, etc. Citing an example, you could buy 25 boxes of pens with each box containing 12 pens. You could then pack them into a single carton and sell it as one carton containing 300 pens. Alternate units of measure: Stock items can be purchased as one unit of measure and sold in a corresponding unit of measure, for e.g. you can buy paint in bulk in 50 litre barrels, repack and sell the same in 1 litre tins. Tracking through receipt notes/ delivery notes/ rejections inwards/ rejections outwards: Tracking number is the reference to have a link between transactions. For e.g. if Tracking Number is selected in the Receipt Note, the details of the items are automatically displayed in the Purchase Invoice. Additional costs incurred on purchase: In many situations, more than one item is purchased where the expense incurred is charged as a lump-sum amount. However, to give an effective cost including the expense to each of the items, the additional costs of purchase option is used. This process is automated and allocation of the expense to a stock item can be done on a predefined basis. Expenses posted using Additional cost on Purchase features, do not affect the relevant nominal ledger accounts but update the cost of the Stock Item, i.e., the additional costs incurred are updated without actually affecting accounting, only the stock value goes up. Movement analysis: Party-wise/ Item-wise/ Stock Group-wise: Movement analysis shows the analysis of only those inventory transactions which are integrated with the accounts, i.e. inventories which are also recorded in the books of accounts.

5 Price lists: Price Lists are useful for orders and invoices. An up-to-date price list helps in decision-making even at the lower levels of the organization and quickens the sales process. Tally.ERP assists in creating quantity based pricing with a complex discount structure. Price Lists are available only for inventory items and hence the feature is available only if inventory and invoicing are activated for the company. You can have one or more price lists, because you may require more than one price list, when you have different price structures/levels for different purposes viz., different groups of customers requiring different discounts or dealing in different products. Sales and purchase order processing: When the order is received from a customer for the supply of goods, the Items, quantities, date of delivery, etc., details are given along with the Sales Order Number. Once these goods are delivered, this Sales Order is tracked for the order Details either in the delivery note or in the sales invoice. When the order is placed with the suppliers for the supply of goods, the Items, quantities, date of receipt etc., details are mentioned along with the Purchase Order Number. Once these goods are received, the Purchase Order is tracked for the Order Details either in the receipt note or in the purchase Invoice. Define and use Bill of Materials: A Bill of Materials is a list of constituent items along with quantity details that can be allotted for the manufacture of a certain product, by-product or likewise. This facilitates the immediate reduction in stock of the item automatically. This process of listing the items that make up another item is made possible in Tally by enabling the Bill of Materials Facility. Bill of Material (BoM) is created only for those items that are assembled in-house. For trading items, you do not need a BoM. Therefore, you need to specify a BoM at the time of creating a Stock Item or when altering its master. Point of Sale (POS): POS is an acronym for Point of Sale. Point of Sale could mean a retail shop, a check-out counter in a shop or any other location, where a sales transaction takes place. The various POS equipment used in retail outlets are Cash registers, card readers and barcode scanners. It is a computerized Cash Register which adds the sales total, computes the State sales tax or VAT calculates the change from the money tendered and automatically adjusts the store's inventory.

6 Purchase Order Tally.ERP delivers the entire purchase cycle whether the need is the complete purchase order - goods receipt - rejections & returns - advances, debits & payments or a single payment entry, fulfilling all needs. To ensure that you have the right stocks and minimize carrying costs, Tally.ERP delivers the following to improve purchase orders: Define Re-order levels as a definite number or based on consumption Define minimum quantity to order as a definite number or based on consumption Pull up a report that shows the stock position, including complete details of open purchase orders, sales orders that need to be fulfilled - check on past purchase history, and then place orders Optionally stagger delivery dates in the PO When receiving goods: Make entries in accordance with supporting documentation, including errors your suppliers could have made (say of multiplication & round off) Incorporate additional costs Automatically manage input taxes Flexibility allows receipt of goods, quantities and rates different from that ordered - since this is common in real life Record samples & free items (using different 'actual' & 'billed' quantities) Multiple receipts for one order or one receipt for multiple orders, or against verbal orders In case there is a need to add other costs (say coolie and cartage) these additional charges can be apportioned to the cost of goods purchased. Supplied goods may not match your needs and these are managed by the 'Rejections Out' inventory voucher. Supplier dues, input taxes and inventory positions are updated. Suppliers often indicate likely profits, which may not be met. In case such assurances are made, you can look at Item profitability reports, and get the facts right. You could then negotiate a rebate and record this as a debit note. Keep tabs of how much is due to whom, when. Manage advances, payables & post dated checks. Ensure there are no errors in payments - print checks from Tally.ERP

7 Sales Order Module The lifeline of a business, efficiencies in sales operations, both of goods & services, directly impact growth and profitability. The need to optimize and keep a close watch here requires exceptional capabilities from your business IT system - and Tally.ERP meets these demands. The sales process is supported with the following documents: Quotations - records of quotes Sales orders - accepted customer orders Delivery Notes - documents that accompany goods Sales Invoices/Cash Bill - to record the sale Credit Notes - for financial adjustments Rejections in - for goods returns Receipts - for advances and receipts Do you have cash sales (sales across the counter)? With support for Point of Sale printers, bar codes and receipts in multiple tenders, you POS enable your business at no additional cost. Product sales may come with added services - and the integrated product & service billing will close this. Enforce credit limits, where needed. Along with the Payment Performance of Debtors report you can identify persistent problems and take necessary business decisions. Interest for delays & reminder letters aid in collection. For businesses engaged in Excisable goods, you get full support for Excise for Dealers & Manufacturing Excise - matter of fact a business could be both! Make multiple deliveries from one order, or one from multiple orders - this common need is available across all documents of the sales process. Do you have multiple classes of customers? You can easily setup multiple prices (even in advance and specify the date from which they are effective). Discounts against the line, or for the document, additional charges as a percentage or lump sum, automatic round off of bill totals, automatic computation of VAT & Service tax, returns & exchanges are all available. Need to verify that you are making the desired sales margins? Item wise and bill wise profitability reports will help you keep tabs.

8 Point Of Sale Module Point of Sale (POS) or Checkout is the location where a transaction occurs. Tally.ERP POS feature helps you to streamline your retail operations, by automating the 'Check Out' process for you and your customers. It provides advanced capabilities with ease-of-use and ensuring smooth retail operations. A one-time configuration in Tally.ERP is all it takes for the POS feature to be activated. Some important features available in the POS module are: Generates POS Invoices with Date and time of transaction Ensures management of gift coupons, vouchers and discount tickets and so on. Eases Cash and Credit / Debit Card transactions and allows multiple mode of payment for a single invoice Tracks balances to be returned to buyers from the money tendered Facilitates bar code scanning of SKUs (or items). Provides quantified tracking of sales promotions Allows access to inventory levels and provides the option of quickly matching inventory with floor counts. Helps in identifying consumer purchasing patterns Generates standard and customized reports such as Cash Registers, POS Registers, Inventory Reports and so on. Increases efficiency, revenue and productivity at the point of sale

9 Job Costing Module Job Costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. It applies to industries which produce definite products against individual orders from customers. Key features of Job costing module are: Ascertain profitability i.e., Net Profit / Loss for a particular Job / Project Track the transfer of materials from one godown to another Easily track the consumption of materials at different locations Drill down till voucher level for any kind of alteration or reference Track material-wise receipts, consumption, transfers and closing stock at multiple locations dedicated for a job Create job 'cost centers and report on them Capture revenue and expenses as and when they are updated Compare and analyze various jobs Inventory movement: Opening, Inwards, Outwards, Transfer, Consumption etc Allows comparison of each element of cost, selling price and profit with other jobs Can ascertain the costs under each element when the job is in progress Do a Job Work Analysis where a service or a product is the output Other related reports that can be generated on the fly are: Job Work Analysis Report - It also allows you to drill down from the Job Work Analysis report to voucher entry, to view a break up of Job/Project Materials Consumption Summary Report - displays Opening Value, Inward Value, Consumption, Other Transfers and Closing Value Comparative Job Work Analysis Report - displays the details of Multiple Jobs in a single report in different columns

10 Remote Access Module Manage business from home: You do not have to be present in your office any more to know the latest update on your business. You can plan your day in advance by checking status of payables and receivable, pending orders, stock status etc in the morning, before you reach office. Delegate and plan work better. Business on the move: Your absence from office does not affect the visibility to business anymore. Access your business data from a laptop, cyber cafe or even computer in the hotel where you are staying. Stay connected to your business without being involved. Enhance response time to customers: Sales staff in the field can access customer's outstanding statements for immediate reference or discussion. Also before booking a new order or promising delivery dates, a sales person can check the stock status and availability of goods by using Tally.ERP installed on the customer's computer. Chartered Accountant can access your business data sitting in his/her office: Enable remote access to the Chartered Accountant to save time and money in receiving expert advice. Chartered accountant and his/her article clerks can access your business data and provide tax computation, compliance and audit advices without having to visit your office. This can help you with continuous compliance. A Tally expert can resolve your support queries remotely: Solution to support issues does not have to wait any more. Provide one time access to a Tally expert or a solution provider to fix your product, customization or any other support issues instantaneously. This can save your business the delay in problem resolution. Maintain personal account at home which can also be accessed from your office. The Tally.NET ID is the user's Identity, Tally.NET servers Authenticate the user as being a valid user; you decide what the user is authorized to do.

11 Advanced Accounting Features in Tally.ERP Besides, the basic accounting capabilities, Tally.ERP also comprises of advanced features for better management and generation of advanced and MIS Reports. Some of advanced Inventory features in Tally.ERP features include: Cost Centers Cost Categories Budgets Interest Calculations Cheque Printing Multi Currencies Credit Limits Advanced Inventory Features in Tally.ERP Besides, the basic Inventory capabilities, Tally.ERP also comprises of advanced features for better management and generation of advanced and MIS Reports. Some of advanced Inventory features in Tally.ERP features include: Re-Order Levels & Re-Order Quantity Price Levels & Price Lists Point of Sales (POS) Job Costing Pre-Closure of Order Reports From the display menu, user can choose the reports.