1. Accounting and Financial Management: Tally is primarily known for its robust accounting capabilities. It allows users to efficiently manage their financial transactions, create and maintain ledgers, track expenses, and generate financial statements like balance sheets and income statements.
2. Inventory Management: Tally offers comprehensive inventory management features. Users can track stock levels, record stock movements, manage multiple stock locations, and automate inventory-related tasks, helping businesses maintain optimal stock levels and reduce carrying costs.
3. GST (Goods and Services Tax) Compliance: Tally software is equipped to handle GST-related requirements, making it easier for businesses to generate GST-compliant invoices, file returns, Generate E-invoices and E-way Bill from Tallyprime and stay in compliance with the tax laws of their respective countries.
4. Data Security and Access Control: Tally provides robust data security features to protect sensitive financial information. It allows you to set user access controls, ensuring only authorized personnel can access and modify financial data. Data is also regularly backed up for added security.
5. Report Generation and Analysis: Tally offers various reporting tools and analytical features. Users can generate various reports, including cash flow statements, profit and loss statements, and more. These reports help businesses make informed decisions based on their financial data.
6. Generate E-Invoice and E-way Bill:To generate E-Invoices and E-Way Bills using TallyPrime, integrate it with the nic portal. Configure TallyPrime with business details, create invoices and allow the integrated software to generate E-Invoices with required data.Simultaneously, create E-Way Bills, ensuring compliance with your State tax regulations.