KEY FEATURES OF TALLY THAT BUSINESS OWNERS MUST KNOW
While running a business, you have to pay attention to each & every department of your org. and you have to continuously measure and control the activities to ensure the highest level of productivity.
Manually handling of all these work of business is next to impossible, it’s not practical also but fortunate we have computers so we don’t have to deal with physical files anymore. To take away the burden from business owners, Tally.ERP 9 Software has some amazing reports that are helpful to almost every business type. These reports will help you to measure, analyze and implement control measures if needed.
Reports in Tally
- Balance Sheet: Balance sheet shows you the current position of the company. It shows assets & liabilities, which shows the financial standing of the company.
- Profit & Loss Statement: A profit & loss statement is also called statement of financial performance. It helps to survive the business and profitability of the same.
- Purchase Register: Purchase register helps to show a summary of all the purchases made by the company at a specific period.
- Sales Register: A sales register shows summary of all the sales done at a specific period of time. It will help you to keep a check on the movement of the goods out of the organization; by this you can get insights about your best sold products.
- Stock Summary Report: By this report, you can check the present condition of the stock. It will help you to understand how to optimally reorder stock without wasting it.
- Ratio Analysis: A ratio analysis report is an amazing tool to understand the financial position of the company. Different ratios give you a clear understanding of the financial position of the company. The ratios like debt-equity ratio, quick ratio, etc are available in tally.
Security and Control Features in Tally
- Tally Vault: Tally Vault keeps data encrypted, only when you enter a password, the data can be accessible. With this feature, you can ensure your data is not being accessed by any unauthorized person.
- Hide data path: In Data path your tally data is saved in default Tally, your data path is visible to the user. Some businesses may see this as a threat to their data and may want to hide the location of their data. In such businesses, Tally Server 9 can be used to get higher levels of security.
- Data Report and log: With the help of this feature you can monitor your employee’s activity and you can ensure work efficiency. The more you are aware of the day to day activities of your employees, the more you will be able to execute control measures to improve their performance.
These are some of the important features in Tally that every business owner must know; these features will make the work of owners easy & comfortable.