ADVANTAGES OF USING TALLY IN SMALL BUSINESSES
Tally is software has made accounting calculations very simple, it is now part & parcel of all businesses. Small enterprises believe that Tally software saves a lot of time, and also provides accuracy and carries out different transactions.
Manual transactions are very time consuming that’s why tally is being used in almost all the organizations. By use of tally the chances of error are reduced to a great extent. Tally has many features that are really blessings for business.
Some Major Advantages of using Tally in small businesses are as follows:
- Payroll Management: While disbursing salaries to the employees, several calculations are to be done, tally helps in maintaining financial record of the company that includes net deductions, taxes, bonuses, and net payment.
- Data Reliability & Security: The data that is entered in tally is reliable & secure. There is no scope of tampering or altering data, after being entered in the software.
- Regulation of data across different locations: Tally can be used to manage data of the businesses globally. It brings together all the branches and does calculations for the company at large. So it doesn’t matter which location an employee has access, it will be uniform throughout.
- Ease of maintaining a budget: Tally helps to manage expenditure of companies with a budget in mind. This ensures that the company does not indulge in over-spending.
- Audit tool for compliance: Tally acts as an audit tool as it carries out regular audits of companies. It does a thorough compliance check towards the beginning of the financial year and ensures all monetary transactions are smoothly being carried out.
- Remote access of data: With the help of tally employees can access financial data by logging in using a unique user id and password.
- Quick Access to documents: Tally saves all important documents like bills, receipts, invoices, vouchers, etc in a folder. All the documents which were previously saved can be accessed quickly.
Thus we can say that Tally is really very useful for small businesses; apart from being cost-effective, it saves time and ensures accuracy in business management. It helps in digitalization of bills & signatures. So, tally can really be a blessing for small business.