Tally Prime with GST

• Introduction of tally prime

• Inventory voucher

• Advance feature of accounting

1. Multi-Currency Accounting: Tally enables organizations to accurately record transactions in multiple currencies by supporting multi-currency transactions. International company operations are made simpler by the automatic conversion of transactions into the base currency.
2. Cost Centers and Profit Centers: With Tally, users can designate which cost centers or profit centers inside the company get what revenues and expenses. This tool offers thorough analysis of the profitability of different projects or divisions.
3. Tally, integrated with the Digital Screen Designer (DSD), empowers organizations to forecast and generate budgets for revenue and expenses. Interest Calculation: Using preset interest rates and durations, Tally may automatically compute interest on outstanding payables and receivables. This function guarantees accurate accounting for interest income or expenses and simplifies interest computations.

• Budgets control

1. Budget Creation: Tally gives users the ability to set aside money for a variety of financial components, including cash flow, capital expenditures, revenue, and expenses. One might define a budget for a monthly, quarterly, or annual period of time.
2. Budget Allocation: Using Tally, users can distribute predetermined sums of money throughout the organization’s departments, cost centers, or initiatives. This guarantees that the distribution of resources aligns with the strategic goals and priorities.
3. Real-time Budget Performance Monitoring: Tally lets users keep tabs on actual spending and income in comparison to planned amounts. This makes it possible to act promptly and take remedial action as necessary.

• Bill of material

working with gst

1. Tax Calculation: Using specified tax rates and guidelines, Tally automatically computes GST (Goods and Services Tax) on transactions. This reduces the possibility of filing errors and guarantees correct tax computations.
2. GST Return completing: By offering predefined templates for a variety of GST returns, including GSTR-1, GSTR-3B, GSTR-4, and GSTR-9, Tally streamlines the process of completing GST returns. To save time and effort, users can generate and file GST returns directly from Tally.
3. Management of Input Tax Credit (ITC): Tally makes it easier to manage ITC by keeping track of applicable ITC on expenditures and purchases. It automatically balances production tax liabilities against the ITC.