The Total Guide to Tally ERP
In this guide, we’ll cover everything you need to know about Tally ERP integration including market-fit, pricing, features, and comparisons.
We’ve also paired this article with a free e-Book to help companies bridge the gap between their ERP and AP processes. Download “The Last Mile of ERP – Payables Transformation Strategies.”
What is Tally ERP?
Tally ERP is unified business management software and accounting software from Tally Solutions Pvt. Ltd. in India. The latest Tally software products are rebranded as TallyPrime and TallyPrime Server (for enterprise companies). Tally has offered the Tally ERP 9 software since 2009. Tally’s two million customers are located in 100 countries, including the U.S.
The redesigned TallyPrime software products include productivity enhancements for basic automation, ease-of-use, and business reports providing insights from any web browser.
Tally software, including TallyPrime, TallyPrime Server, and Tally ERP 9 accounting and ERP, are available via mobile devices with iOS and Android. Tally ERP 9 is available on desktop and via web browsers. TallyPrime and TallyPrime Server software products let users get reports from anywhere, with web browsers for remote access.
Tally accounting software includes cash management, bank reconciliation, receivables, payables, inventory, invoicing, vouchers, general ledger, and financial reports like balance sheet and income statement.
Which Types of Businesses Use Tally?
Small businesses and mid-sized companies use TallyPrime and Tally ERP 9 software. Although Tally primarily targets small businesses and medium-sized companies, growing enterprise companies use the TallyPrime Server software product. Companies in many industries, including manufacturing, use Tally ERP.
How Much Does Tally ERP Cost?
For TallyPrime software, the Tally cost is a “one-time cost of USD $630 for a Single-User License (Silver plan) and USD $1,890 for a Multi-User License (Gold plan) (unlimited users with PCs on the same LAN environment) for the first year. From the second year onwards, … renew TSS [Tally Solutions software] to [get] … value-added services”.
TallyPrime pricing is based on three, six, or twelve-month plans. For the TallyPrime Server or Tally ERP 9 price, view the website or contact Tally Solutions.
How Does AP Automation Software Integration Work With Tally ERP?
AP automation software integrates with Tally ERP software using a flat-file or API connection. Tipalti add-on software uses flat-file integration with Tally ERP. Users access its features through the Tally login. Tipalti provides more extensive payables automation and global mass payments features that save companies substantial time and reduces erroneous payments and fraud risks.
What Are The Primary Features and Advantages of Tally ERP?
• Excellent multi-dimensional reports with insights
• Simple to understand software
• Business management for multiple companies
• Two-directional data syncing between company locations
• Inventory management features
• Job costing and project costing
• Advanced invoicing
• Handles GST statutory taxation in India
Users can view TallyPrime reports differently from 360 degrees, with drill-down to get more business insights and perspectives, even during voucher entry. The TallyPrime report viewing features include Change-View, Basis-of-Values, and Exception Report. TallyPrime lets users accomplish cash flow management, including managing bills, receivables, and accounts payable.
Tally report types include accounting & financial, inventory, management, and statutory reports.
Business owners and users without an accounting degree (who may not yet know the difference between a debit and a credit) can quickly learn to use simple Tally software. The accounting processes are intuitive.
Tally ERP 9 lets users perform data synchronization in both directions between two company business locations, like Headquarters and a branch office.
With Tally inventory management features, users track, forecast, and manage inventory, allowing them to achieve inventory levels and location optimization.
TallyPrime advanced invoicing capabilities include best invoice components, multiple configurations, and multiple billing modes.
Tally ERP handles GST, indirect destination-based goods and service tax in India, as required by the Goods and Service Tax Act 2017. Features of Talley ERP 9 include statutory and taxation configurations for GST.
At the same GST link, Tally explains how to make GST work in Tally ERP 9, using a sample transaction. Tally completes the GST tax calculation for GST returns in the accounting system. Users need to enter transaction details in the Accounting Voucher Screen and Sales Voucher Screen in Tally ERP 9 first.
How to Implement & Use Tally?
Businesses can implement Tally software on their own or use a Talley Partner to help. Tally Solutions support offers phone (including callback), email, and online support, including tutorial videos and articles on how to use Tally ERP 9, TallyPrime, and TallyPrime Server software. Tally software includes help features.
Which ERP Systems are Comparable to Tally ERP?
QuickBooks Online
QuickBooks Online competes with TallyPrime as a cloud-based accounting software solution for small businesses and mid-sized companies. Third-party apps added to QuickBooks Online give it more functionality to become ERP-like.
Sage Intacct
Sage Intacct is modern cloud accounting and ERP software endorsed by the AICPA.
Oracle NetSuite
Oracle NetSuite is mid-range accounting and ERP software. NetSuite handles multinational global transactions with its OneWorld software product.
QuickBooks Desktop
QuickBooks Desktop is an on-premises accounting software solution that competes with the desktop version of Tally ERP 9. Third-party add-on software can make QuickBooks Desktop like an ERP alternative.
Microsoft Dynamics 365
Like Tally ERP, Microsoft Dynamics 365 is an ERP system with cloud access from anywhere. Microsoft Dynamics 365 includes integrated apps from other Microsoft software and tools, including Office 365 (with Excel spreadsheets) and Teams collaboration software.
