Question

In: Accounting

When you are using Tally, everything you need is right there when you need it. You...

When you are using Tally, everything you need is right there when you need it. You can edit vouchers from
within the Balance Sheet, change the Stock groups from within Stock Summary and so much more. It just
operates the way you expect it to; this is such a delight to use, that you would almost feel like it’s made for you.
Analyse the statement from your own experiences with the Tally software. (200 Words)

Solutions

Expert Solution

Tally is a software which is used across the world for recording transactions of an entity. It is simple to learn and operate.

Some of the features of tally highlighting it's usefulness are as follows:

Interest calculation - It has a simple interest calculation mechanism which is easy to understand and can be modified for each transaction.

Payroll management: It encompasses all the functions which are concerned with disbursing salary to employees.

Audit tool: Tally is also used as an audit tool to assist in auditing of a company.

No accounting codes: Instead of accounting codes, direct account names are used. This enables the operators to avoid errors while input.

Bill tracking: The tally has features to track bills individually

The above statement highlights that Tally has many potential advantages and uses. Some of these advantages are as follows -

Reliabilty: Once data is entered into Tally, the chances of it being lost are very less.

Accessing data remotely: The data entered into tally can be accessed remotely. Physical presence at a partiucular computer or workstation is not required.

Filing returns: Statutory returns can be submitted easily. Tally has modules for filing returns seamlessly.

Supports multiple languages: Tally supports multiple languages. Users from across globe in the organisation can understand and access the information.

Tally Vault: It is a vault to protect data. Tally gives an encrypted vault in order to protect data. DES technique is used in Tally vault.

Shortcuts: Various shortcuts are available on tally which makes the data entry process much faster.

If you find the above answer useful, request you to please take a moment to up-vote the same. It will help me to serve you better in future.


Related Solutions

You now know everything you need to know to be an informed critic of the Affordable...
You now know everything you need to know to be an informed critic of the Affordable Care Act. Based on all that you have learned, how does the Act measure up to our three goals of 1) increasing quality of care, 2) increasing access to care and 3) keeping costs in check? In your answer, try not to veer into the political, but stay objective and non- partisan. Be specific about the provisions you’re referencing and the economic principle that’s...
******You do not need to get everything working exactly as it says, I mostly just need...
******You do not need to get everything working exactly as it says, I mostly just need an outline of how to create this GUI and add up the costs and print them all out. Any help at all will be greatly appreciated******* Design and implement a Java program that creates a GUI that will allow a customer to order pizza and other items from a Pizza Paarlor.  The customer should be able to order a variety of items which are listed...
Summarize Thermodynamics and everything you need to know/ important in a brief summary. (For physics)
Summarize Thermodynamics and everything you need to know/ important in a brief summary. (For physics)
C++ For a job, you need to schedule everything in life. There is personal life, hobbies...
C++ For a job, you need to schedule everything in life. There is personal life, hobbies and lots of other things, and work. You have to manage your time well. For your job, you have to work on projects early and probably every day. How much time would you need to spend to keep up with your work when you have other things in your life? To solve this problem, write a C++ program to help you figure out how...
C++ For this question alone, put in everything (headers and so on) you need to make...
C++ For this question alone, put in everything (headers and so on) you need to make it compile. Assume the following functions have already been defined, write a main() that uses them to fill a vector with random integers, remove the smallest and largest integers from the vector, save the result in a file called "trimmed.txt" void fillRandom(vector & nums, int howMany); // fill with specified number of integers int minValue(vector nums); // return smallest value in vector int maxValue(vector...
3. When would you recommend using an individual account, a joint tenancy with right of survivorship...
3. When would you recommend using an individual account, a joint tenancy with right of survivorship account, and a tenancy by the entirety account for your monetary assets? 7. Have you ever had a disagreement with a friend or family member over a money is-sue? How might you communicate differently now? both questions please
List 4 safety features that you will need to follow when using the pipette (In microbiology).
List 4 safety features that you will need to follow when using the pipette (In microbiology).
What are the steps that you need to take when solving a problem using Ampere's Law?
What are the steps that you need to take when solving a problem using Ampere's Law?
Need to check if File is successfully opened? C++ It works when I input the right...
Need to check if File is successfully opened? C++ It works when I input the right txt file. But, it keeps stating, File successfully open." even I put in a non-existing file. Here are the specifications: Develop a functional flowchart and then write a C++ program to solve the following problem. Create a text file named first.txt and write your first name in the file. You will be reading the name of the file from the keyboard as a string,...
I have the answers for everything, I just need for it to be explained as to...
I have the answers for everything, I just need for it to be explained as to why that's the answer. A 24-year old female automotive technician presents herself at the doctor’s office. She complains of fever and of pain in her left hand. On physical examination, the patient had a deep wound on her left palm that was oozing pus. She had purplish, red streaks running up her left arm. She had enlarged lymph nodes at the elbow and under...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT