Final project comparison between various version of tally

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Final project comparison between various version of tally

  1. 1. Project Report SUBMITTED IN FULFILMENT OF THE REQUIREMENTS FOR 100 Hours Information Technology Train THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
  2. 2. Batch 2 Group members ROLL NO. NAME ICAI REG.NO  22 ABHISHEK JAIN NRO0276716  23 ANJALI AGGARWAL NRO0285971  24 KUSH LUTHRA NRO 0282238  25 ABISHEK JAIN NRO 0277260  26 CHARU NRO 0277589  27 DEEPAK KUMAR NRO 0262635  28 SHIKHA VERMA NRO 0287217  29 HEMANT JAIN NRO 0274466  30 NAINA NRO 0281464  31 SAURABH NRO 0274997  32 AANCHAL NRO 0282374  33 PARAS NRO 0280126
  3. 3. Contents  Intro of brief comparison b/w various version of tally  TALLY 6.3 OVER OLDER VERSION TALLY 5.4  NEW FEATURES TALLY 7.2 OVER OLDER VERSION TALLY 6.3  NEW FEATURES OF TALLY 8.1 OVER TALLY 7.2  NEW FEATURES OF TALLY 9 OVER TALLY 8.1  New features in tally erp 9 over tally 9
  4. 4. BRIEF COMPARISON BETWEEN VARIOUS VERSION OF TALLY Tally 4.5 Tally was started with is first version of Tally 4.5, which was a DOS based program. This program was very light weight and very fast in operation. Tally 5.4 The next version was 5.4 which was graphic interface version. It became popular in the masses. Its pirated copy made it most popular accounting software. Tally 6.3 Next version was tally 6.3 which was truly windows based version which could support fast printing and with VAT implemented. Tally 6.3 came with water tight security in terms of piracy. With its dongle it was almost impossible to crack. Although crack of software were available but Tally's policy of frequent upgrades and newer releases does the trick.
  5. 5. Brief Comparison between various version of tally(continued)  Tally 7.2 Next version of Tally was Tally 7.2. It was also fast version with lots of new feature like statutory compliant versions. Different VAT rules for different states was achieved with this version.  Tally 8.1 Tally 8.1 was developed with new data structure of Tally. A module of POS and Payroll was added to it. It could not live up to the expectations with the people and marred by bugs. Company rectified many but the version could not become popular and company has to abort it before time and launch new version.  Tally 9 This is the latest version of Tally which has maximum features. All other versions have been declared end of life period by Tally company. Tally 9 has advance features like Excise for Dealers, Payroll, FBT, TDS, e-TDS filing facility etc along wit its regular features related to accounting and inventory management.
  6. 6. TALLY 6.3 OVER OLDER VERSION TALLY 5.4 The Extended Enterprise System RELEAS E 1 NEW FEATUR ES Release 1.1 new feature s Release 1.2 new features Release 1.9 NEW FEATUR ES
  7. 7. The Extended Enterprise System The new Tally ees 6.3 comes with breakthroughs in collaborative technology that extend your company's capability of managing information across your software applications and your offices, with your business partners and your managers-on- the-move. All this leads to accurate decisions for improved profits.
  8. 8. tally 6.3 NEW FEATURES RELEASE 1 Reorder Levels Aged Stock Analysis Scenario Management Tally ODBC E- capabilities
  9. 9. tally 6.3 RELEASE 1Reorder Levels  Reorder level is that quantity in hand for a stock item, reaching which, you should order your supplies. The importance of reorder level arises from the desire to have sufficient stocks to service customer orders and at the same time not to have unnecessarily high stocks. Therefore, the points to be considered in deciding reorder levels are the lead time for suppliers to deliver stock , the delivery time specified by the customer, and the stock in hand to satisfy orders in the meantime. In simple mode, Tally accepts your specified quantities only. In advanced, Tally considers past consumption patterns to suggest reorder levels. You can however, give your own levels. You may also specify the minimum quantity that is to be placed for each order in either simple or advanced mode.  The purpose of specifying reorder levels is to obtain a report that indicates the stocks that need to be ordered. Hence, we will first specify and then obtain the report.  More:  Specifying Reorder Levels  Obtain Reorder Status and Quantities to order  Alter Reorder Levels and minimum quantities
  10. 10. tally6.3 RELEASE 1 Aged Stock Analysis (Ageing Analysis)  A very important function of Working Capital management is monitoring stocks. Money locked up in stocks can adversely affect the liquidity of a company and every company strives or should strive to reduce stock levels to the optimum. Every business (except perhaps the liquor and antiques dealers) would prefer to dispose of older stocks as they might deteriorate with time, go out of fashion, or simply get forgotten. Tally's aged stock analysis or Stock ageing enables you to know the age of stocks in hand according to when they were received and the purchase value.
  11. 11. tally6.3 How to view Ageing Analysis Ageing Analysis report produces a default ageing period of <45 days, 45-90 days, 90-180 days and >180 days. You can change the setting by using F6. The default report also gives stock values based on Actual Purchase. Use Hide Amount to view the report without values as has been done above. Since Negative Stocks cannot be aged, they are shown in a separate column. Gateway of Tally > Display > Inventory Books > Ageing Analysis Select the Group of Stock Items to be analyzed
  12. 12. Tally6.3 RELEASE 1Scenario Management  Scenario management is a management tool that enables different views of your information, both accounts and inventory related, by selectively including certain types of vouchers without affecting the base data. This is useful in reports with provisional figures without actually putting the entries through the main books. It is also useful for forecasting by entering forecast figures in provisional vouchers and including them to get forecasted figures.  The vouchers that are used in Scenario Management are:  Optional Vouchers  Memorandum Vouchers  Reversing Journals
  13. 13. tally6.3 RELEASE 1Tally ODBC Tally uses ODBC to connect to other programs and exchange data dynamically.  Outward Connectivity  Inward Connectivity  Outward Connectivity Pick up data from Tally directly into other programs like Microsoft Excel or Word without any programming! Print labels for greeting cards from the ledger addresses stored in Tally! Even create templates for the likes of Audit Reports and Schedule VI forms and plug in data from Tally. Tally's database is now open for use in most popular programs to give you the unlimited flexibility of creating your own reports using up-to-date data from Tally.  Inward Connectivity On the other hand, Tally ies 7.2 is capable of being programmed by TallyExperts to use data from other systems much more easily. This permits you to continue using other systems and use some of their data in Tally as if they were parts of one integrated system. For example, a customer contact management program may contain various details like status of an order and last contact made. Bring in that data into Tally to merge into a report containing outstanding balances. Any changes in the other data will be immediately reflected in Tally.
  14. 14. Tally6.3 RELEASE 1 E-capabilities AND Release 1.1 new features  E-capabilities  E-mail  Internet Publishing  Web-browser  Release 1.1 new features  Optional Vouchers by default  Item Invoice & Account Invoice  Common Ledger A/c for Item Allocation  Credit Period details in Ledger Master  Use Defaults for Bill Allocation  Accept Supplementary Details  Single Entry Mode for Payment / Receipt / Contra
  15. 15. tally 6.3 Release 1.9 NEW FEATURES  Proxy Server Configuration  A new configuration option has been added in the F12: Configure menu. A new configuration option has been added in the F12: Configure menu. From this release onwards, Proxy server configuration is required for those users who are behind a proxy server and use Synchronization feature of Tally as a Client. If TallyClient accesses a TallyServer through a proxy server then proxy server details must be provided in this option. Tally no longer depends on Internet Explorer for proxy settings.
  16. 16. tally 6.3 Release 1.9 new features  Rejection In and Rejection Out In Stock Vouchers sub-screen of Stock Item/Group monthly summary reports, Rejection Out would be shown as Negative (-) quantity in Inward Column, and Rejection In as Negative (-) quantity in the Outward Column. In the event of Rejection In (Material Inward but considered as (-) Outward), the Rate at which the Item has been returned, will not affect the value of Closing Stock and the value of material would be debited to respective sales account only. In case of Rejection Out (Material Outward but considered as (-) Inward), the Rate at which the Item is returned will change the rate of Item for the balance Closing Stock.  Synchronization Modification in Op. Balance of a Debtor or partial adjustment of the same against multiple receipts were not getting synchronized to the server data. The same has been corrected in this release. In case of change in the Op. Balance (In case of carrying forward the balances to next year) the user must modify one of the existing vouchers in order to synchronize the modified Ledger account.
  17. 17. tally 6.3 Release 2.1 new features  Tally Link Server Tally Connected customers get access to a range of connected services known as Tally Internet Services. Tally Link Server is one of the services available as a part of Tally Internet Services. It enables two instances of Tally to communicate with each other without the requirement of a fixed IP address in the server. Tally Connected customers can synchronize their data using the Tally Link Server.  Import/Export Snapshot --Helpful to setup synchronization when both the companies participating in synchronization have large no. of transactions  Ability to Import any XML files of any size  Option to compress data during Synchronization  Insert Failure Voucher ID Error > Resolved
  18. 18. TALLY 6.3 Release 3.14 - 3.15 NEW FEATURES  The new licensing feature enables you to register Tally even if you do not have a direct Internet connection. You need to do this only once and not monthly.  If you are an Offline user, you can take a request file to a computer with an Internet connection and activate your copy of Tally easily.  The license is now linked to a computer. However, you can use the same Tally license on another computer, by surrendering your license on the first computer and reactivating it on any other.
  19. 19. NEW FEATURES TALLY 7.2 OVER OLDER VERSION TALLY 6.3 Release 1 New Features Salient features of Tally VAT 1 TDS in Tally 7.2 Single User Licensing ,Multi User Licensing
  20. 20. Tally 7.3 Release 1 new features  Integrated Enterprise Solution  Tally 7.2 version has the latest taxation structure integrated in it. These integrated features in Tally will make it simple to manage myriad issues that will arise due to the complexities of taxation in your day-to-day activities. Licensing has been simplified for single-users and multi-users.  New Features  complete Value Added Tax (VAT)  Tax Deducted at Source (TDS)  Licensing
  21. 21. tally 7.2 Release 1 Salient features of Tally VAT  Salient features of Tally VAT VAT is completely integrated with Tally 7.2. The VAT functionality in Tally 7.2 supports the following features, making it easier for computation:  Quick & easy setup  Fast & error-free voucher entry  Pre-defined list of sales & purchase classifications  Complete tracking of each transaction till annual returns  Printing of Tax invoice  VAT computation report  Better VAT-returns management  Monthly Return
  22. 22. Tally7.2 Release 1,VAT Computation screen  shows as follows:
  23. 23. tally 7.2 Release 1 TDS in Tally ies7.2  TDS (Tax Deducted at Source) in Tally ies 7.2 provides an easy- to-use interface with complete flexibility. It helps you to handle any intricate cases and to calculate the tax amount payable to the Income Tax Department.  Features of TDS in Tally ies 7.2  The TDS functionality in Tally ies 7.2 supports the following features:  Simple and User-friendly  Quick and Easy to set up and use  Partial/Full payment of Tax deducted  Auto and Manual calculation of TDS amount  Generates TDS Challan and Exception reports  Complete tracking of each transaction from deduction to payment  Challan management and printing ensures prompt and accurate filing of Tax  The Auto allocation feature prevents error-prone data entry and helps to track the transactions faster
  24. 24. Release 1Creating Tax Ledger Gateway of Tally > Accounts Info > Ledgers > Create Name Enter the name of the Tax Ledger Under Select the group as Duties and Taxes from the list. On the selection of group Duties and Taxes, you will get the option to select type of Duty/Tax. Type of Duty/Tax Select TDS tax type from the list Nature of Payment
  25. 25. Tally 7.2 Release 1--Single User Licensing ,Multi User Licensing  Tally Silver for Single-User  The single-user Licensing allows the deployment of Tally on ONLY ONE computer with an option of activating it Online or Offline.  However, you can use the same Tally license on another computer, by surrendering the license activated on the first and reactivating it on the other. If you are an Offline user, you can take a request file to a computer, which has Internet connectivity and activate your copy of Tally easily.  Tally Gold for Multi-User  The multi-user Licensing feature facilitates the use of Tally on ANY NUMBER of computers connected to a local area network (LAN) with a provision of activating the license Online or Offline.  However, the method of activation is no different from the one followed in Single User Licensing system.  After the successful installation of multi-user license on the License server, you can have Tally start when Windows starts and run as a service in the background. The License clients may install and use Tally later
  26. 26. NEW FEATURES OF TALLY 8.1 OVER TALLY 7.2 Release 1.0 new features Release 1.0 Major Changes and Enhancements Release 1.1 new features
  27. 27. Tally8.1 Release 1.0 new features  Tally 8.1 - A Multilingual Business Accounting & Inventory Management Software provides support for Fringe Benefit Tax computation and VAT Composition returns generation in addition to its language capabilities.  New Features  •Multilingual Support  •Fringe Benefit Tax  •VAT Composition Returns  •Excise for Dealers
  28. 28. tally8.1 Release 1.0 new features  Multilingual Support Tally 8.1 is so technologically advanced that it can operate in all Indian languages concurrently! That means, you maintain accounts in any Indian language view it in another and print it in yet another language of your choice…. at the same time  Fringe Benefit Tax FBT (Fringe Benefit Tax) is a one time, easy to enable configuration. Tally provides the complete tracking of expenses covered under FBT. It computes FBT based on the eligibility criterion and generates FBT Challan and returns.  VAT Composition Returns VAT Composition Returns provides fast and error-free voucher entry with complete tracking of each transaction. The Composition Rate of VAT is automatically recognised based on the turnover. It prints VAT Composition Returns for VAT enabled states. The tax payable is calculated automatically and displays in the Return Form.  Excise for Dealers Excise for Dealers provides complete tracking of duty credit availed and passed on.
  29. 29. tally8.1 Release 1.0 Major Changes and Enhancements  LIFO and FIFO valuation method  Std Cost and Std Price Valuation method  If you have not set Set Standard Rates? in Stock Item masters but have set Costing Method to Std Cost and Market Valuation Method to Std. Price. In Tally 7.2, the First Purchase cost was taken into consideration for the Std Cost Valuation and the First Sale price for Std Price valuation methods.  However, Tally 8.1 accurately considers the Last Purchase cost for Std Cost Valuation and the Last Sale Price for Std Price valuation On Account values were being taken as 'overdue' in Ratio Analysis in 7.2  In Tally 7.2, On Account values were taken into consideration while calculating values for Due till today in Ratio Analysis.  Tally 8.1 has resolved this and displays only the outstanding values in Due till today. (for Sundry Debtors and Creditors)
  30. 30. Tally8.1 Release 1.0 Major Changes and Enhancements  Average Cost  When Multiple Sales and Purchases are made against Receipt and Delivery Notes at a rate different from that specified in the Receipt and Delivery notes  For Example: Let us assume you have passed a Receipt Note for 100 nos. of an item @ Rs. 100 per item. Subsequently you pass a Purchase Invoice for 30 nos of the item @ Rs. 120 against the above Receipt Note. This means that some items are still pending against the tracking number.  In Tally 7.2, the difference in the rates would be incorrectly included in the original value The balance sheet viewed with Avg. Cost valuation method displays closing stock values at Rs. 10,600.  This has been resolved in the new Tally 8.1, which accurately displays the Avg. Cost closing stock valuation in the balance sheet as Rs. 10,000.  Pending Tracking number values were approximate, even though quantities were accurate (causing few Paise difference depending on context)  Tally 7.2 used to display pending Delivery/Receipt with approximate values, causing a small difference in the values.  Tally 8.1 has resolved this and displays the pending Delivery/Receipt Notes values accurately.
  31. 31. Tally8.1 Release 1.1 new features  E-Mail Authentication  Multi-accounting Allocation When you rewrite a company, the vouchers with multiple accounting allocations will be retained if Use Common Ledger A/c for Item Allocation is set to No.  Synchronization of Altered Transactions Synchronization is possible even when data migrated from Tally 7.2 consists of cancelled vouchers.  Cost Centre Class in Stock Journal In Tally 8.1 you cannot select Cost centre class while creating Stock Journals as it is not applicable.  Migration The process of Migrating Data to Tally 8.1 is now effectively enhanced.  Migrating Currencies Multiple currencies can now be easily migrated to Tally 8.1.  Forex Gain Loss Calculations Tally 8.1 displays accurate Debit and Credit amounts in the Ledger Forex Gain/Loss report unlike Tally 7.2 in which Debit amounts were displayed asCredit and vice versa.
  32. 32. NEW FEATURES OF TALLY 9 OVER TALLY 8.1 Release 1.0 New Feature s Release 1.1,Maj or Enhanc ements Release 1.2 NEW FEATUR ES Release 1.3 NEW FEATUR ES Release 1.31 Enhanc ements
  33. 33. Tally9 Release 1.0 new features  New Features: •Payroll •POS Invoicing •Multilingual Support •Statutory and Taxation  Payroll  It has been integrated with accounts, in order to simplify Payroll processing. Payroll can be configured to suit the requirements of various types of organization.  You can now configure, align and automate simple to complex payroll processes. You can print pay slips, maintain salary/wages and attendance/ leave/ overtime registers, and generate Gratuity and Expat reports. You can also configure Payroll Data with cost centre reports for business analysis.  The enhanced Payroll in Tally 9 is now simple and allows you to generate a Pay slip four easy steps.
  34. 34. Tally9 Release 1.0 new features  POS Invoicing POS Invoicing in Tally is equipped with ease of use and advanced capability to simplify your retail operations. It efficiently automates the ‘check-out’ process, and allows you to create invoices and collect payments from customers, in a matter of moments.  Multilingual Support Tally 9 now provides the language interface support in; Bahasa Melayu; and Bahasa Indonesia .
  35. 35. Tally9 Release 1.0 new features  Statutory Compliance and Taxation  Tally 9 now provides you with compliance of VAT for different states in India. It also provides you  Service Tax for Malaysia  Sales Tax for Malaysia  VAT for Indonesia.
  36. 36. Tally9 Release 1.1,MajorEnhancements  New Attributes in Tally.ini Tally 9 introduces three new attributes to the Tally.ini file. •Optimize Network •Load Buffering •Flush File  FIFO Perpetual --Tally introduces a new method of inventory valuation FIFO Perpetual, which is similar to LIFO Perpetual. The Normal FIFO treats the opening balance of the financial year as the terminating rate to apply for residual stock. FIFO Perpetual takes all existing past data. Both LIFO and FIFO Perpetual are capable of changing the valuation when the company is split unlike
  37. 37. Tally9 Release 1.1 Major Enhancements  Abatement in Service Tax Tally now offers you the flexibility of entering the desired percentage of abatement in service tax.  Sales Invoice Printing You can now print any number of sales invoices, with the appropriate print title.  Option to Print Invoices as Excise or VAT Invoice Tally now offers you the option Print as Commercial Invoice at the Print Configuration screen. Set it to Yes/No to print an Invoice either in the Commercial (VAT) or Excise invoice format.  Performance and Data Migration in Tally 9 tally 9 comes with enhanced performance and improved stability over the previous versions. The data migration tool has also been enhanced resulting in more accurate and speedier migration of data.
  38. 38. Tally9 Release 1.2 NEW FEATURES  Excise Opening Stock  Calculation of Secondary Education Cess  Calculation of CVD (On Import)  Start of new Financial Year  VAT Payment Vouchers – For India Only  VAT Declaration in Excise Sales Invoice  Education Cess on CVD in Excise Sales Invoice  Duty Heads for Customs and Excise  Actual Billed Quantity  Designation of Signing Authority  Interest Parameters  Interest Calculation  Formal Receipt  Cheque Printing  Foreign Exchange  Multi Column Cash/Bank  Tracking Consignee
  39. 39. Tally9 Release 1.3 NEW FEATURES  Godowns The address entered in the Godown creation screen appears legible.  Bank Reconciliation The Bank Reconciliation statement displays appropriate entries as configured in F12: Configure.  Stock Journal The value in the rate field of a Stock Journal (Transfer of Materials) appears appropriately.  Rejection In/ Out Vouchers--The Rejection Inward/ Outward vouchers display the customer details as entered in the Mailing Details section of the Customer ledger creation.  Inventory Report--The Godown – wise Inventory reports now displays accurate balance values whereas multiple Godowns are maintained.  Price Level--Creating a Price Level, using Alt+C from the Price List screen will display the same in the Price Level field spontaneously.  Security Control--Tally provides access to the features/ options as specified in the Security Levels screen.  Cost Centre--Set the option Show Cost Centre Details also to Yes in the Multi Account Printing for Group of Accounts to print the Cost Centre details.
  40. 40. New features in tally erp 9 over tally 9  Tally.NET  Auditor’s Edition of Tally.ERP 9  Payroll in Tally.ERP 9  Automatic data replication/exchange with synchronization  Security Management  Tally Audit  Tally Vault  Removal of data into separate company  Extensibility (TDL - Tally Definition Language)  Internal Backup / Restore  Import / Export of Data  Graphical Analysis of Data  Statutory Compliance Capabilities
  41. 41. tally erp 9 Tally.NET  Meaning of tally net: Tally.NET is an enabling framework which establishes a connection through which the remote user can access the Client's data without copying / transferring the data. In other words, the remote user can access the company data, provided the Company is open and connected on Tally.NET  Tally.NET Features: Tally.NET is a default feature available in the product and provides a host of capabilities. Register and Connect companies from Tally.ERP 9 Create and maintain Remote Users 􀂇 Remote access of data by any user (including BAP users) 􀂇 Remote availability of Auditors' Edition of Tally License 􀂇 Synchronization of data (via Tally.NET)
  42. 42. Tally erp 9 Auditor’s Edition of Tally.ERP 9  Tally.ERP 9 offers a special Auditors' Edition of Tally.ERP 9, which provides auditing and compliance capabilities exclusively for Chartered Accountants. The Audit capabilities provided in Auditors' Edition are available by default, regardless of Tally.NET subscription. Using Tally.NET features,  Tally.ERP 9 provides the capability to Chartered Accountants to Audit in following scenarios :  Audit at CA's office by accessing local data  Audit at Client's place by accessing local data  Audit at his place by accessing Client's data remotely
  43. 43. Payroll in Tally.ERP 9  Payroll refers to a series of accounting transactions involved in the process of paying employees for services rendered after taking into account all statutory and non-statutory deductions. The efficient payroll system in Tally facilitates error-free, accurate and timely employee payments while ensuring that the employment is well within the valid work permit.  Payroll in Tally.ERP 9 handles all the functional, accounting and statutory requirements of the payroll department. It provides you with the flexibility to define earning & deduction heads and supports the computation and deduction of ESI, EPF, Gratuity, etc. It supports user defined production units like attendance, production, time based remuneration, and other methods of calculating payroll. Comprehensive reports based on cost centers and employee wise cost can be generated.
  44. 44. tally erp9 Automatic data replication/exchange with synchronization Synchronization refers to the process of Tally data being replicated between two or more locations. This enables a branch office to send its data to the head office over the Internet or a private network.
  45. 45. tally erp9 Security Management  Data Security Tally.ERP 9 use of data integrity checks ensures that no external change to your data can affect it. It uses a binary encoding format of storage to prevent devious grouping of information. It also offers access to your database thru an ODBC layer, which is fully activated.  User-defined Security Levels Tally.ERP 9 offers you high levels of security. You can define multiple levels of security as per requirements and authorize users with individual passwords and rights to access specific functionality only. User with Administrator level password will have full access to all features and will set access controls for other users.
  46. 46. tally erp9 Tally Audit  Tally audit feature provides you with Administrator rights:  a capability for you to check the accuracy and correctness of the entries made by authorized users.  It allows you to alter the entries if required. Once you audit the entries,  Tally.ERP 9 displays for you all altered entries with the user's name who altered the entry, the date and time of alteration.  The audit trail is also available in the day book where the administrator can view the alterations made.
  47. 47. THANK YOU

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