Question

Tally.ERP 9 as an accounting software package was exclusively devised to automate and integrate all the operations, such as sales, finance, purchasing, inventory, and manufacturing for many small and medium sized enterprises (SMEs). With Tally.ERP 9, accurate, up-to date business information is literally at your fingertips anywhere in the world.

Required:

With practical examples using a service company as a case study, explain the functionalities that has enabled Tally.ERP 9 to make inroads into the Ghanaian accounting software packages market.

Answer 1

Tally. ERP9 is a software which is super easy to operate and learn to. Anyone can opt to learn Tally. ERP9 irrespective of their field. The popularity of Tally. ERP9 is because of the advantages that it offers. Let us discuss some of the advantages of enrolling yourself in a Tally.

1.Increase in efficiency and effectiveness in service delivery:

Tally ERP-9 provides tools for analysing the data which will enable the service organisations to increase their efficiency and effectiveness in their service providing for examaple for an organisation providing varieties of service, can identify what are the services which occupy a lions share in the companys total revenue and accordingly develop expertise in that segment.

2.Optimum utilisation of resources:

Through Tally ERP-9 analytical tools like ratio analysis. Which enable the service organisation to identify its most profitble segment and accordingly invest its resources(Money,Time and energy) on the segment and therefore leading to optimum utilistion of resources. Thus making the best utilisation out of the available resources with the organisation

3.Reliability of Information:

Once entered in Tally.ERP9, your data is unlikely to get lost due to any uncountable reasons. The software never disappoints even when the machine gets closed down suddenly due to power failure, the data will automatically get saved. This will enable the service organisations to concentrate on their businesses and therefore provides value in terms of saving of time

4.Easy payroll management:

As we know the major costs incurred by the service organisations is majorly the employee cost whch is nothing but payroll. Tally ERP-9 provides easy managemenet of payroll processes and therefore enables effective management of one of the major cost of the organisations. Some of the advantages are enumerated below.

• The Payroll module in Tally.ERP 9 reports comprehensively as it has user defined classifications and sub classifications. This might be associated with the employees, employee groups, pay components, departments etc.
• The payroll module also lets flexible and user defined criteria for users.
• It also offers the facility to create user defined earnings and deductions pay heads.
• The module lets us use unlimited grouping of Payroll Masters.
• Supports production/attendance/time based remuneration units which are user defined production units.

5.Assurance of Information:

There is not even the slightest scope of data tempering after the data being put away in the software. Information Uprightness assessments ensure that no external changes to the data can intervene with Tally.ERP9. The complex binary coding helps avoid any such discrepancies that can alter any type of data. The functionality of Tally.ERP9 may sound complex to you but, once you start your Tally course, the complexity will soon diminish and you will find this software much useful set codes.

6.Tally Audit:

Audits have been done by a certified client to double-check the entries made for the precision. The administrative rights are given to certain clients to do audits. It can be a disaster if someone improved the data without letting know anybody, right? If some faults are encountered or one needs to change an entry, the name of the client is displayed on the screen. This helps maintain the privacy and trust that are needed in the field of accountancy.

7.Remote Access:

Tally.ERP9 comes with the remote access, to promote the delivery of invoices without having to access it physically (movement of invoices to and from the headquarter to branches)

8.Savings in cost:

Tally ERP-9 is a cost effective tool that can be used by the business organisation to enable cost effective handling of accounting and preparing of books. Even person having minmum knowledge of accounting can making entries in tally if he knows to operate tally. Therefore no need to hire sophisticated proffesional and therefore resulting in reduction of costs.