Home / Tally GST Software
Updated on 28 Oct 2020 9.00 AM IST | 4 min read
Overview of Tally GST Software
Tally GST software, also known as Tally ERP 9 Software is one of the main products of Tally Solutions Pvt. Ltd, an Indian multinational company known for providing enterprise resource planning and reports to have more than 1 million customers. Co-founded in the year 1986 by Shyam Sunder Goenka and his son Bharat Goenka, Tally Solutions was shortlisted as a GST Service Provider in the year 2016 to provide interface between the new Goods and Services Tax (GST) server and taxpayers.
Launched by Tally Solutions Pvt. Ltd, Tally ERP 9 is one of most economical and popular ERP software solutions available in the market as of today and is best known in the accounting world for empowering businesses with stable and effective accounting software products. It has all the required features for high-performance business management and offers comprehensive business functionalities such as accounting, finance, inventory, sales, purchase and branch management along with features such as statutory processes and excise and allows you manage your branches, warehouses and manufacturing facilities with utmost ease and efficiency to your human resource and payroll management.
Tally ERP 9, a Tally GST software proudly flaunts its customers which include names such as Timesmobile, Match[my]talent, Mehta & Sons, JMR & Associates to name a few and is famously known for offering most efficient and simplified solutions for even the most complex business functions. Its enriched features allow seamless integration of your business operations and also help to manage multiple financial and business functions with the help of single software. It is designed to cater the needs of both small and large businesses and its features such as flexibility, control over business operations, trusted remote access, round the clock connectivity, quick installation process and ease of use makes it a necessity for businesses across the globe.
Considering the stringent deadlines of GST, Tally ERP 9 software handles all your GST billing needs and helps you to generate range of invoices starting from simple invoices to invoices with multiple items and tax rates and also ensures that your GST returns does not fall out and matches with your account books.
Features of Tally GST Tally ERP 9 Software
Simple to use
One of the best features of Tally ERP 9 software is its simplicity. It is designed to be user-friendly and does not require rigorous training and is known as a digital accounting that has made calculations easy.
Integrated payroll management
Tally ERP 9 software allows you to handle payroll compliance checks right from pay slip generation to salary revision, loans and advances, deductions and ad-hoc payments.
Tally ERP 9 software allows you to generate the keys and restrict data access and thus enhances the security of data. Using the software you can assign security levels for different groups of employees and thus can restrict the access to receipts and payments.
It allows multiple users to login at the same time and file GST returns at the same time without crashing.
Tally ERP 9 software is designed to generate reports, invoices, bills without any delay and its real-time processing feature allows you to save time and effort, which would otherwise have spent on the bill generation.
Centrally managed and configured
It is centrally managed and configured and thus streamlines the entire calculating process and maintains the same standards.
It is not a rare scene when a user gets stuck while using the software, however what is rare is 24*7 online assistance. Tally ERP 9 software provides online assistance to its users and thus he or she can contact Tally online for any query.
Tally ERP 9 has been designed by keeping in mind the very fact that India is a country with several languages and businesses from diverse backgrounds and thus provides its users with the Concurrent Multilingual feature, using which you can enter the transaction in one language and view or print the reports in a different language, if so desired. You also have an option to choose from the list of languages.
Support for banking transactions
Bank OD ledger is one of the predefined ledgers in Tally ERP 9 software and thus allows you to keep a track and record all information regarding his OD. It also supports bank reconciliation for more than 100 banks.
One stop solution for compliance
What makes Tally ERP 9 software unique is its intuitive awareness of the information that needs to be present in a business data to file periodic statutory returns.
Tally ERP 9 software allows you to manage your employee payroll in a smart and efficient way and also generates statutory reports with regard to provident fund, employee state insurances, professional tax, gratuity and income tax. It also gives you with an option of further categorization within an employee group such as sales planning, analytics and sales executives.
Flexible inventory management
In order to have a smooth business operations, it is important to have a continuous monitoring of your inventory and with its features, Tally ERP 9 software makes it easy to view item-wise profitability and keep a watch on stock movement across multiple warehouses in order to manage the inventory efficiently.
Who Should Use Tally ERP 9 GST Software?
As mentioned above, ERP 9 software is designed mainly for startups, small and medium sized businesses, agencies and enterprises.
Pros and Cons of Tally ERP 9 Software
Pros of Tally ERP 9 GST Software
- Easy to customize
- Powerful remote capabilities
- Small and medium enterprises use Tally ERP 9 software to make important decisions by looking at critical reports generated with the help of software. Also the Release 6 version of the software is GST ready which gives its users an edge over their competitors by becoming GST compliant.
- Medium and large scale enterprises are known for having multiple business functions and Tally ERP 9 software facilitates seamless combination of activities for accounting, inventory, compliance, payroll, finance and much more.
- Tally ERP 9 software allows its users to manage multiple functions with multiple user logins and also facilitates different access rights to their employees as per the need of the business.
- It gives the freehand to the tax consultants to conduct audit remotely without worrying about transferring of data and they can also leave their comments and remarks, if any, for the business owners to take actions on them if required.
- Tally ERP 9 has a unique feature where new functionalities can be added to the existing ones such as addition of batch numbers to inventory, order processing of sales and purchases and what makes it even better is that new features can be added without touching previous recorded transactions.
- It allows an easy and seamless compliance for easy management of financial data in both VAT/CST and GST.
- It facilitates seamless integration of data across vendor locations and retail chains.
- It gives you an opportunity to understand your business better by providing different business scenarios to you to help deal with uncertainties and thus improves business forecasting.
Cons of Tally ERP 9 GST Software
One of the biggest disadvantages of Tally ERP 9 software is that it is not online software and thus there is no backup of your data. You need to be extra careful while working on it and have to separately back up your data which calls for extra work. Also its developers need to work on its customization feature considering the fact that its present version gives little scope and customization is very limited.
Tally GST Software FAQ's
Final Thoughts on Tally ERP 9 GST Software
Tally ERP 9 software is complete ERP software for businesses and can be used by small, medium and large enterprises and with the launch of its Release 6 version; it is also GST ready software. Its enriched features make it a first choice for small, medium as well as large sized business owners. Most of the accountants vouch for it in terms of its optimization feature. It is a complete and comprehensive product in itself and ensures that the GST returns are in synch with your account books which is very much need of the hour.
In a nutshell it provides a comprehensive control to meet the needs of both small and medium sized businesses and also facilitates you manage your branches, warehouses and manufacturing facilities with ease. However, like every other thing that is out there in the world, Tally GST software has its own loopholes to work on such as full customization and data security and with so much happening out there in the world of technology, sooner the desired changes are made, the better it will be.
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GSTR 3B for August 2020 (22 States/UT’s - Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi) Oct 3rd, 2020
GSTR 1 for September 2020 (turnover more than INR. 1.50 Crore) Oct 11th, 2020
Monthly GSTR 6 for September 2020 Oct 13th, 2020
Monthly GSTR 7 (Summary of Tax Deducted at Source (TDS) and deposited) for September 2020 Oct 10th, 2020
Monthly GSTR 8 (Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators) for September 2020 Oct 10th, 2020
CMP 08 for July to September 2020 Oct 18th, 2020
GSTR 5 (Non-Resident Foreign Taxpayers) Monthly Filing Due Date for September 2020 Oct 20th, 2020
GSTR 5A (Non-Resident OIDAR Service Provider) Monthly Filing Due Date for September 2020 Oct 20th, 2020
GSTR 3B for September 2020 (Annual Turnover of more than Rs 5 Cr in Previous FY) Oct 20th, 2020
GSTR 9 and 9C (Annual Return) FY 2018-19 Dec 31st, 2020
GSTR 1 (Quarterly) for July to September (Summary of outward supplies where turnover is upto Rs 1.5 crore) Oct 31st, 2020
Annual GSTR 4 for FY 2019-20 Oct 31st, 2020