Question

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)

Answer 1

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.

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