27 December 2014

Three things to Avoid in New Year / New Financial Year in Tally ERP 9

Friends I wish all Tally users a Happy and Prosperous New Year. Although for Accountants in India New year starts from April 1 when we have to begin new books. But there are people who start their book from Jan 1st. This is the case for companies whose parent companies are out of India.
I have seen many Japanese companies who start their financial year form Jan 1st as their parent companies start their financial year on same date in Japan. 

For all those Tally users who would change their period on Jan 1st Here are three tips which they should avoid while doing accounting in Tally. This is applicable to all Indian users from April 1st so they can read carefully and apply it on April 1st when they begin new year.
Three things to avoid in New Year New Financial Year in Tally erp 9
Three things to avoid in New Financial Year in Tally

Three Things to avoid on New year /New Financial Year. 

Create new Company in Tally
Many people start New financial year by creating New company as they think they should start afresh. This step has many drawbacks
First, they have to create all the masters.
Second, they have to post the opening balances if not now then after some time.
Third, since they have not finished their entries of last year they don't have any clear picture of books of account.

So, over all its extra effort and waste of time to create separate company. So, what is the right step?
The right step is to continue in the same company by just extending the financial period at Gateway of Tally. Just press Alt + F2 and change the period. And continue doing the entries.  

Changing the period from Company Info

This is the biggest blunder that some of the Tally users commit on New year or at the beginning of New financial year. What they feel is that as they have defined the financial period in Company Info while creating company so they should change the next year there so that they can do further accounting. 
This is actually a big blunder which users should avoid as this step would render their data of previous year inaccessible. It would cause the company loss of data of previous financial year. 

What is the right step then ?
The right step is to change period of the company in gateway of Tally. If you change the period once it would automatically accept the entries in new period. You can switch to previous year period by simply changing the period again. 

Proceeding without changing the voucher Numbering

This mistake is committed by many users who have started special numbering for vouchers. e.g. sales Invoice number starts like 14-15/104 by entering advance configuration in some vouchers masters. So what is wrong in this?
The wrong part is that these numbering is on yearly basis. If you have started a series like 14-15/invoice number then on jan 1st or on April 1st the numbering would start again from One and the sales invoice number would be like this only 14-15/001 on next year. It would duplicate the invoice number. It would further duplicate the references in bill wise bill details. This would lead to confusion and wrong referencing specially in bill wise bill. 
So what should be done?
Avoid entering vouchers before editing the series of voucher numbers in voucher master. Start the new series first e.g. 15-16/ and then start doing entries in New financial year. 

Hope you would find this information useful. Happy New Year and Happy New Financial Year Too. Share your thoughts on your New Year Experiences.

25 December 2014

What is your New Year Resolutions for Tally in 2015

Friends New year is again round the corner. We are all determined to celebrate this new year too with great fan and fervor.  Like last year we would pass new resolutions for the coming year. No matter how early we break our new resolutions but this is for sure that we would make new one this year too.
We are all too firm this year to not to break our new year resolutions. Rest all depends of God's will and our circumstances.

Like we all do, some of my friends would resolve to start morning walk from this year and some would resolve to quit smoking. 

Many would repeat their last years unfulfilled resolutions, but have you ever thought what resolutions would you make this year regarding Tally.

As we all know we pass new year resolution because these are the things which we really want to do but are hard to follow. They are actually good and are beneficial for us. Like wise Tally is also beneficial for us and we all know that our business, job, profitability all depends on that. So we should pass a resolutions this year regarding Tally. 
What is your New Year Resolutions for Tally
What is your new year Resolution for Tally? 

So My question is  what resolutions would you pass this New Year related to Tally? Have you given a thought over it? If no then why not? Give a thought this year on Tally. When you would start thinking you would find that there are many possibilities which can be explored.  

What can be your New year Resolutions?

For a Businessman
Possibilities can vary from person to person. If you are a businessman then first resolutions you can pass on Tally is that I would go one level up in using Tally. In other words if you are using Tally just for debit and credit entries then you  can resolve to use it a little bit further. Your Goal can be I would start my Invoicing in Tally
Another resolutions can be I would start using Inventory with Accounts from this year
Another resolution can be I would automate my cheque printing via Tally. No more Manual cheque writing form this New Year.

For a Student
If you are s student then you can resolve to spend more time of Tally. or in specific terms you can resolve to master additional module like payroll or excise this year. Another resolution can be I would become Tally certified this year.

For an Employee
An employee can resolve to use additional features of Tally is his day today working. To be more specific you can resolve that this year I would prepare all my VAT or Excise returns on Tally. No more manual returns.

For Bloggers 
Bloggers like me can resolve that they would try to post One tally post every week. If they are doing this then they can resolve to increase their frequency. 

You must be thinking what is my resolution. My resolutions for this year would be that I would write more and more interesting posts on Tally in year 2015. Almost every week an new post I would create. 
Let me know as Tally user what is your Tally resolutions? What would you resolve to do this year? Share your view It would help others to define their goals.

18 December 2014

Bharat Goenka of Tally Solutions conferred Honorary fellowship of CSI 2014

Computer Society Of India (CSI) the largest and India's prominent professionally managed association of IT professionals of India recognised Mr. Bharat Goenka The Co-Founder and Managing Director of Tally Solutions with  Honorary Fellowship award for year 2014.  At CSI's 49th Annual Convention and International Conference 2014 held at Hyderabad on Dec 13th this award was presented to Mr. Goenka. 
Bharat Goenka of Tally Solutions accepting CSI Honorary fellowship award 2014
Bharat Goenka of Tally Solutions accepting CSI Honorary fellowship award 2014

The fellowship has been awarded only 12th time in the 49 year history of CSI which makes it a rare and special honor and a remarkable achievement for Tally.

The citation says that Mr. Goenka has contributed significantly, over the years, towards creating a definitive identity for software product companies in India. Under his direction, Tally Solutions has grown to be a market leader in business management software in India and has begun making significant inroads in global markets as well.

Prof. S V Raghavan, Chairman, Awards Committee, and Scientific Advisor to the Govt. of India read out the citation on  Goenka’s contribution to the Indian IT industry while the award was given by The Telangana State IT Minister, K.T. Rama Rao.

Instituted in 1979 this Fellowship Awards to honor distinguished personalities who have served the Society with their dedication, devotion and faith to those who have excelled in fields related to the Society. This award puts Mr. Goenka in league with  persons like Mr. Ratan Tata, Proff. Yashpal and Mr. Chandrababu Naidu the previous awardees. 

The Computer Society of India which was formed in year 1965 by a few enthusiastic IT professional is today on of the largest and most professionally managed IT association of India which is for and of IT Professionals. Keeping in mind the interests of IT professionals and computer users CSI conducts events from time to time. Information Technology as a profession is on the top priority of CSI today. more then 1,00,000 strong members of CSI are Software developers, IT vendors, CIO's and CTO's, Scientists and Project Managers etc.
ApniTally congratulates BG Sir and all Tally people on this achievement.

16 December 2014

How to manage your business remotely with Tally ERP 9

Since How long you are using Tally? Yes this is a simple question and try to decide since how long you are working on Tally? You would find that most of us are having years of Tally experience. But Have you tried to use Tally remotely?
Let me explain. Have you tried to use your Tally from a remote location, or location other then your system where licence is configured? It may be your home, while you are travelling in train, or may be while you are in other city.

What???? Can I do this? I haven't think of this yet. How this thing is possible? 

If you are having a question like this then you have to think again how much of Tally do you know.

How to manage your business remotely with Tally ERP 9
How to Manage your Business remotely with Tally ERP 9
The amazing part in this question is that you need not to spend a single penny to have this facility. Yes, you can access your Tally in your office while you are away on tour or at home or having meeting with your clients. Just few steps and it's done.
And If I add one more fact to this, that you can access your Tally data even if you don't have computer with you then it would perhaps amaze you even more. But it is true!! You can access your Tally data via your simple mobile.

How to Manage remotely with Tally.ERP 9

View your business remotely
View and edit our reports in Tally remotely
View your reports remotely
The first thing which you can do is view your business remotely. View reports while you are away. You can edit these reports and can take decisions based on these reports. For example you are on a buying spree for your business and want to know what is the current stock of raw material at present so that you can order accordingly, then you can just login in your Tally remotely and see the current stock position.

Here is an example which I usually face. I am a service provider. While I am with my client I cannot  decide how much work I have to do at client end or how much time I have to spend with him. If the time is much higher then expected then I have to bill him accordingly. If I am at client end then I have to go back and prepare the bill and again visit or have to send it to the customer after that he would make payments. But with remote access of my Tally I can generate bill using client's machine and Tally and get a print out also using his printer. It would save me lots of efforts and time. It would also make payments quicker.

Give live updates to staff
With remote access you can create multiple ids for your staff. If they are marketing person then they can get live access to finished products present in company godowns and accordingly book the orders. If multiple people are roaming in the market then multiple orders can be filled or reserved on the spot. 
They can check the outstanding with the customer and ask for the payments if any on the spot.

Manage your remote locations effectively
Multiple locations of same organisations can be managed with remote access in Tally ERP 9
Manage remote locations
With remote access you can manage different locations of company more effectively. Transactions can be entered remotely or they can be edited also. Head office can see the information about warehouses at different locations and decide accordingly. 

Audit your books remotely
In Tally ERP 9 you can remotely get your books audited
Remote Audit
The greatest advantage of remote login is that you need not to call your auditor at your location to audit the books of accounts.  Now he can audit the books online with the help of remote access. More over you can get expert guidance on a click of a button in case of how to handle some transaction. For this all you need to create an account for your auditor also. Lots of effort and time is saved both of the auditor as well as your and audit is done quickly. 

What is required?
What is needed at your end is just an internet connection and a valid Tally.Net subscription. If your subscription is expired then you can renew it online too. Click on the image below to renew your Tally.Net subscription. 
You need to update your Tally.Net subscription to operate tally remotely
Update your TallyNet subscription Online
See : 4 reasons why you should update your Tally.Net subscription.

Friends Let me know what  has been your experience in using Tally remotely. In case you face any difficulty let me know comments. I would try to resolve your them.

03 December 2014

3 Ways to Manage your Business Expenses using Tally ERP 9

Tally  ERP 9 is now undisputed leader in Accounts and Inventory Management among small and Medium business enterprises in India. This has been proved by latest VAR India Survey.  It has been judged as Best ERP software for SMB. This is another feather in Tally's cap. Tally's kitty of awards and recognition is increasing day by day.
Tally has many tools with which you can manage your day today business expenses very effectively. These tools if used properly can help you track your expenses, so that you can reduce the unnecessary ones. The features can help you to plan further for future keeping in view the budget constrains.   

Let see age old features of Tally erp 9 can help you manage your business expenses.

Three ways you can manage your small business expenses in Tally erp 9
Three ways to manage your business expenses in Tally erp 9

1. Scenario Management
Scenario management is an inbuilt tool available in Tally ERP 9 which is basically a management tool that enables different displays of accounts and inventory related information. It is basically what if analysis. It would answer questions like What would happen to profit if we spend 30% on salary? What would happen to cash flow if we increase our expense on advertisement ? How much increase in expenses would result in decrease in profit. You have to selectively including certain types of vouchers which should not affect the source data. It generates provisional reports without actually effecting the main books of accounts. It is also used as forecasting tool as you can enter the expected expenses and see the effect on your profits without effecting your books. 
Tally has three special types of vouchers which are used in scenario management. These are Optional vouchers, Memorandum Vouchers and Reversing Journal vouchers.
Here is a video which explains silently how this is achieved.

2. Budgets and Controls
Budget is a tool which helps you to keep track of your financial health and also helps to allocate the funds according to requirement. Tally helps you in this task. You can make budget in Tally and then track your revenue and expenditure against our budget. This helps you to control the expenditure and utilize your money as per plan. See this video provided by Tally about how budget can help an organisation in managing business expenses.

3. Credit Control
Tally has a unique feature of setting credit limit to each individual ledger. That limit too can be changed from ledger to ledger. By setting the limits one can control the credit given to them and control the billing. You will not able to raise further invoice to a party whose dues are not cleared according to limit set by you. Tally would alarm you about the limit. You can also set the limit individually to each ledger. You can set different  limits to same party also.

See More How to set different limits to same party. 

By these three tools you can very well manage your expenses and better utilize the funds available to you. Let me know how do you find this article.