Simplicity and flexibility are two crucial aspects, that we all ask for when opting for a software solution. Numerous navigations, uncountable shortcut keys, unappealing design and interface, etc. always make us turn and walk away. Especially with so many options available for a user, it is crucial that every software provider lives up to the market standards or sometimes even surpasses that and creates a new benchmark of how a software should ideally be like.

Software has become a very strong helper for businesses, and this completely reformed how companies are run in the current age. The first thing to notice is that everyone in the company, in one way or another, becomes involved in this mysterious thing and their activities are built around it. Given the nature of any software, it is imperative that its features are simple yet intuitive, so that any user can access it, seamlessly.

Thus, considering an increase in the simplistic design and user-friendly interface, we have revisited every area of our product, analysed how we can deliver the simplest experience possible and made it come alive with TallyPrime.

What is Purchase Management? Meaning And Objective of Purchasing Meaning and Definition of Purchasing Purchasing cycles What is Purchase Management? Key Objectives of Purchasing? Using software to achieve easier purchase management Purchase is an integral process in the majority of businesses. A manufacturing company purchases the raw materials or services needed to make its products. A retail company buys and sells items, while a wholesaler does the same in bulk. So, in both manufacturing and retail businesses purchasing drives the operation of the business.

What is net sales? What is the formula for net sales? Example to illustrate net sales What is the significance of net sales? Use TallyPrime to stay ahead What is net sales? Net sales is the total number of sales that a business makes minus the discounts, sales returns, and allowances. Net sales are different from gross sales because the latter does not take sales returns, allowances, and discounts into account. Net sales are part of the income statement and they ensure that an accurate figure is provided when analyzing the financial statement.

The banking feature in TallyPrime, enables business owners to perform a host of bank-related activities, including payments to parties, bank reconciliation, and cheque management. Usage of this feature enhances and simplifies the banking experience significantly by saving time, reducing errors, improving productivity, and scaling up traceability.

It provides amazing banking capabilities for running your company. You can use its e-payments capability to make timely payments to your parties, manage cheques, reconcile bank statements, and others. TallyPrime’s banking feature supports the following major areas of your business operations.

What is a cost centre? Major categories of cost centre Cost centre and Tally.ERP 9 To enable cost centre and cost category in Tally.ERP 9 How to use Cost centres in Tally.ERP 9? How to generate cost centres report in Tally.ERP 9? What is a cost centre? A cost centre is nothing but a separate department within a business to which costs can be allocated. This also includes departments which do not produce directly but incur costs to the business.

Cash flow is significant in a company. But, free cash flow is a component of accounting that is not to be confused with cash flow. Free cash flow is the cash that is left over after the company has accounted for all its expenditure. Free cash flow or FCF is the cash that remains after cash payments that have been made to maintain operations and assets. Free cash flow is not the same as net income. While net income measures the company’s profitability, free cash flow measures the company’s financial health. Some analysts measure the company’s free cash flow to equity separately, differentiating the interest payments from the capital expenditures. The free cash flow is also calculated per share for investors. FCF can accurately determine if the company can expand and pay dividends or if it will need to raise capital soon.

A fund flow statement is a statement prepared to analyse the reasons for changes in the financial position of a company between two balance sheets. It portrays the inflow and outflow of funds i.e. sources of funds and applications of funds for a particular period.

It is also righteous to say that a fund flow statement is prepared to explain the changes in the working capital position of a company.

Steps to create new currency in TallyPrime Record purchase and sales vouchers with multi-currency in TallyPrime Print invoices with multi-currency in TallyPrime Business operations could expand to a great extent with time, and so your business management software must be flexible enough to handle just real-time complexities, but also be prepared to cater to future needs, such as import and export of goods to foreign countries. Several organisations have transactions in more than one currency, which means that these transactions must be recorded either in the base (home) currency or in the foreign currency.

A versatile inventory management software, TallyPrime helps small and medium businesses maintain optimum inventory levels. Not just that, it adapts to the way you work giving you insightful reports to help you manage your business efficiently.

1. Simplified stock management

Organise your stock by product type, brand, colour, size, etc. by creating unlimited stock groups and categories. This being a small business inventory management solution, you can easily organize the stock the way you want easily.

2. Warehouse/location management

Store and track your inventory in real-time by warehouse, racks, lot, bin, etc. You can create multiple godowns to store raw materials, finished goods, components, etc. at different locations such as warehouses, production floors, or showrooms.

3. Manufacturing  

Record the complete cycle of manufacturing right from the receipt of raw materials to the dispatch of finished goods including the details of by-products, co-products, and scrap.

4. Manage inventory batch-wise and lot-wise

You can store and track inventories by lots, batches, etc. along with manufacturing and expiry date management. What’s more? The powerful inventory reports such as batch summary, batch-wise aging, etc. help you manage your inventories efficiently.

5. Invoicing

You can create a professional-looking invoice in seconds and customise it the way it suits your business. You can print your company logo, add or remove the invoice details using the host of invoice configuration and track the receivables easily.

6. Bill of materials

Define multiple bills of materials (BoM) with a complete list of components, raw materials, assemblies, co-products, by-products, and scrap, etc. along with the quantities required to manufacture a finished product.

7. Accurate inventory reports

Accurate and actionable inventory reports such as stock ageing, movement analysis, re-order level, etc., help you manage optimum inventories always.

8. Job-Work

Record, track and manage material issues, receipts, and consumption in the job work process both as a principal manufacturer and job worker.

9. Manage stock from/far third party

Manage and track inventories that have been sent or received from a third party, separately from your regular stock, especially in case of job work, consignment sale, and similar situations.

10. Job/project-wise costing

Complete track of cost and revenue in form of specific order costing for all those manufacturing jobs undertaken according to customer requirements and specifications.

11. Online business reports

Securely access your business data anytime, anywhere using a web browser.

Purchase is an integral process in the majority of businesses. A manufacturing company purchases the raw materials or services needed to make its products. A retail company buys and sells items, while a wholesaler does the same in bulk. So, in both manufacturing and retail businesses purchasing drives the operation of the business. Therefore, purchasing and all its related processes should be managed for maximum quality and timeliness at the minimum cost. Purchase management is one of the most vital areas of a company’s operation that can directly affect the bottom line. It is essential to understand the objectives of purchasing management to get the best results for the business.

A sales order is a document generated by the seller specifying the details about the product or services ordered by the customer. Along with the product and service details, sales order consists of price, quantity, terms, and conditions etc.

Purchase is an integral process in the majority of businesses. A manufacturing company purchases the raw materials or services needed to make its products. A retail company buys and sells items, while a wholesaler does the same in bulk. So, in both manufacturing and retail businesses purchasing drives the operation of the business. Therefore, purchasing and all its related processes should be managed for maximum quality and timeliness at the minimum cost. Purchase management is one of the most vital areas of a company’s operation that can directly affect the bottom line. It is essential to understand the objectives of purchasing management to get the best results for the business.

A GST software is your one-stop-solution for all your compliance needs – from raising invoices to managing your inward and outward supplies, keeping your books of record up-to-date, and much more. TallyPrime ensures that your GST returns are in sync with your books of accounts, and reflect the same data as used for filing returns in the GST portal, thus proving to be the right GST return software for you. 

TallyPrime is a GST-ready Software with all the features right from GST Billing to GST Returns with Error Detections & Correction mechanism, and many more. 

Introduction TDS under GST TCS under GST Introduction It may be noted that as per the initial notification issued by the government on 26th June 2017, the provisions of TDS and TCS under GST were put on hold and it was communicated that the same will come into force at a later date. However, the GST Council, at its 21st meeting in Hyderabad, decided to open registration of persons liable to deduct TDS and TCS under GST from 18th September

It may be noted that as per the initial notification issued by the government on 26th June 2017, the provisions of TDS and TCS under GST were put on hold and it was communicated that the same will come into force at a later date.

However, the GST Council, at its 21st meeting in Hyderabad, decided to open registration of persons liable to deduct TDS and TCS under GST from 18th September. However, the date from which TDS and TCS under GST will be deducted or collected will be notified by the Council later, as per the latest tax provisions under GST.

A GST software is your one-stop-solution for all your compliance needs – from raising invoices to managing your inward and outward supplies, keeping your books of record up-to-date, and much more. TallyPrime ensures that your GST returns are in sync with your books of accounts, and reflect the same data as used for filing returns in the GST portal, thus proving to be the right GST return software for you. 

TallyPrime is a GST-ready Software with all the features right from GST Billing to GST Returns with Error Detections & Correction mechanism, and many more. 

Ever since the concept of e-invoicing was approved by the GST council, the buzz around e-invoicing has gained importance among the business community. The introduction of e-invoicing was approved by the GST council at its 37th  meeting held in the month of September,2019 with the key objective to ensure inter-operability of e-invoices across the GST eco-system.

Invoice being a key document and e-invoicing being a reform related to it, it is super important for businesses to understand it fully and accordingly prepare towards to it.

In this article, let’s discuss and understand everything about e-invoicing under GST.

e-Way bill features in TallyPrime

Tally’s fully connected e-way bill solution is simple, seamless with zero manual work. Take a look at some of the key features of a connected e-way bill solution

Generate e-way bill instantly.

Using TallyPrime, you seamlessly generate an e-way bill online by just recording the invoice. You can generate e-way bills instantly, either for a single invoice or multiple invoices in bulk. This is made possible through TallyPrime’s full connected solution absorbs the complexity by directly sending the details in prescribed format to the portal and fetches e-way bill details automatically

Business data when fetched into the system, forever runs a risk of getting corrupted or leaked. Data security has been a major concern to all business owners, and that is one of the main reasons why several entrepreneurs are hesitating to automate various crucial business processes. The confidentiality of sensitive information is major criteria while choosing a business management software.

To secure your business data, TallyPrime offers a variety of security features. TallyPrime comes with multiple levels of user and feature-based security levels to ensure that access to your data is restricted based on your preferences. An additional layer of security called TallyVault ensures encryption which no one in the world can break, not even us at Tally. Tally offers a comprehensive security framework for authentication, authorisation, integrity, and confidentiality of user data.

 Unlimited Multi User Support on LAN.