April 10, 2023
Tally Prime is a popular accounting software used by businesses of all sizes. It offers a wide range of features that help businesses manage their financial transactions efficiently. In this blog, we’ll discuss the top 10 features of Tally Prime that make it an excellent choice for businesses.
1. Simplicity
One of the most significant advantages of Tally Prime is its simplicity. The software’s design ensures that even non-accountants can easily navigate its user interface.
2. GST Compliance
Tally Prime is fully compliant with GST regulations. Hence, it simplifies the process of GST returns, and users can generate GSTR-1, GSTR-3B, and GSTR-4 directly from the software.
3. Invoicing
Tally Prime offers comprehensive invoicing features that allow businesses to generate professional-looking invoices quickly. Users can customize the invoice format, add their logo, and even print or email the invoice directly from the software.
4. Multi-Currency Support
Tally Prime supports multiple currencies, making it an ideal choice for businesses that deal with international clients. However, users can manage multiple currencies in a single ledger, and Tally Prime will automatically convert amounts based on the exchange rate.
5. Bank Reconciliation
The software offers a bank reconciliation feature that simplifies the process of reconciling bank statements. Users can import bank statements directly into Tally Prime, and the software will automatically match them with the corresponding transactions.
6. Inventory Management
Tally Prime offers robust inventory management features that help businesses manage their inventory efficiently. Additionally, users can track stock levels, set reorder levels, and generate inventory reports directly from the software.
7. Cost Center Tracking
Tally Prime allows businesses to track expenses by cost centers. For which making it easy to identify areas where costs can be reduced. Users can generate cost center reports and analyze them to identify trends and patterns.
8. Security
Tally Prime offers robust security features to protect sensitive financial data. Furthermore, users set up multiple accounts with different access levels, while the software encrypts data to block unauthorized access.
9. Backup and Restore
Tally Prime offers automatic backup and restore features. Which ensures that financial data is never lost due to system failures or other issues. Therefore, users can set up automatic backups or manually backup data whenever necessary.
10. Remote Access
Businesses can access Tally Prime remotely, making it easy to work from anywhere. However, users can access the software from a web browser. Additionally, Tally Prime also offers a mobile app that allows users to manage their finances on the go.
How to Utilize this Tally Data into the BI Tool
While Tally Prime is excellent for accounting and compliance, businesses often need more customized reports, visual dashboards, and automated insights to make faster and smarter decisions. That’s where EasyReports BI comes in.
Specifically for Tally users EasyReports BI have the following capabilities:
- Connects directly with Tally Prime
- Over 99+ pre-built reports and dashboards
- Multiple industry coverage – Trading, Manufacturing, Services, IT/ITES, Finance, Projects, etc.
- Enables automated report scheduling and email alerts
- Options for the customization as per specific requirements
- Combine Tally data with data from excel, custom apps and custom fields within Tally
What is EasyReports BI
EasyReports is a reporting and MIS automation tool for Tally, SAP B1, NAV, BC and other ERPs. It enhances your reporting capabilities & offers various standard and customizable reports around different areas of your business.
Tally Prime is undoubtedly a powerful software, but if you’re looking to take your reporting and data analysis to the next level, integrating EasyReports BI with Tally Prime can be a game-changer. Visit www.easyreports.in to book a free demo and experience it for yourself!