Today an increasingly large number of companies have adopted mechanized accounting. The main reasons for this development are that:
the size of firms have become
very large resulting in manifold increase in accounting data to be collected
the requirements of modern
management which want detailed analysis in many ways, of the accounting and
statistical information for the efficient discharge of their duties.
collection of statistics not only
for the firm’s own use but also for submission to various official authorities.
In this context, the use of computers in accounting is worth mentioning.
Late 80’s and early 90’s was an era of financial accounting software. Many
software developers offered separate financial and inventory
software to take care of the needs of the concerns but users wanted a single
software that will take care of production and inventory management i.e. They
wanted a single software where, if an invoice is entered, that will update
accounts as well as inventory information. Here tally comes in handy.
Tally is one of the acclaimed accounting software with large user base in india and abroad, which is continuously growing. There is good potential for tally professionals even in small towns. Tally which is a vast software covers a lot of areas for various types of industries and is loaded with options. So, every organization needs a hardcore tally professional to exploit its full capabilities and functionality to implement tally. Tally which is a financial and inventory management system is developed in india using tally development language. Tally has been created by pentronics (p) limited, bangalore.
Accounts without any account codes.
Maintains complete range of books
of accounts, final accounts like balance sheets, profit and loss statements,
cash and fund flows, trial balance and others.
Provides option to post stock
value from inventory directly to balance sheet and profit and loss a/c as per
the valuation method specified by user. This greatly simplifies the procedure
and one gets the final accounts which is in tune with the stock statements of
the inventory system.
Provides multiple reports in diverse formats.
Various options for interest calculation.
Allows accounts of multiple companies
Multiple currencies in the same
transactions and viewing all reports in one or more currency.
Unlimited budgets and periods,
user definable security levels for access control and audit capabilities to
track malafide changes.
Allows import and export of data from or to other
and restore of data.
printing of cheques etc.