Tally accounting software

Tally accounting software is a small business accounting software for small business owners as well as personal users, it helps accountants, individuals and business owners to organize and manage their financial accounts and tax. It is quite a simple accounting software in comparison to other professional accounting software systems. There are also free version for Tally software available for proprietary business owners and personal usage. Tally accounting software has quite long history, over the years, it has accumulated lots of users and been used by various businesses including small business, chartered accountants and software entrepreneurs.

In general, Tally accounting software is a software program that maintains vouchers, ledgers and all other accounting records, it can handle different types of vouchers like Payment, receipt, it also support adjustment entries like Journals, Debit notes, Sales, Credit notes, Purchases, Receipt notes, and Delivery notes and so on. Tally accounting software follows the double entry system of accounting method which helps to eliminate possible errors. One of the features we found good in Tally software is that it supports tree-view structure groupings for account codes. Tally’s flexibility is also something we found useful.

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With over a decade’s track of record, Tally accounting software has been keeping up with the ever-changing accounting laws and statutes, it is also a scalable system which can support business grow needs. I am listing some features in bullet points here for your reference:

  • Tally accounting software gives you VAT/Composite Returns for the time you specify
  • Tally comes up with Input VAT Details, Output VAT Details
  • It track your VAT transactions to the correct State-specified VAT classifications
  • It tracks your bank book and maintains your day to day accounts
  • It can quickly and easily generate Excise Invoices for Traders
  • It does not require accounting knowledge to use
  • It maintains Excise Stock Register
  • It creates quarterly returns
  • It supports multiple files
  • It create e-TDS files in the appropriate formats
  • It allows to use password to protect data security
  • It automatically deducts TDS based on current rates and limits
  • The installation file is small, it can easily be carried in flash drive or pen drive
  • It gives information on net payable
  • It is easy and simple to use with no complicated accounting jargons
  • It adjusts Input Tax Credit against Service Tax payable
  • It is easy to browse entered data
  • Ideal for doctors, small business firms, lawyers, educational institutions, engineers and so on

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Small business accounting software

Small business accounting software is of great benefit to your company, if you have chosen the right package which meets your business needs. The software system can help you to restructure the entire accounting process, it also comes with an easy to understand audit trail. Having said so, accounting software may not always works wonders for your business, especially if you have chosen the wrong system. It can lead to complication of your business operation and cause frustration among your users. So it is extremely important that you need to evaluate and analyze the software that you would be using for your company, and you need to evaluate not only the current business requirement you also need to consider the future requirements. It is also vital to check if the software integrates well with all your current business practices.

Before you start to purchase the accounting software system, it is essential to first determine the needs of your business, in other words, your technical requirement. The functions of different small business accounting software vary depending on different kind of business establishment. For example, a retailer business would need and benefit from the software feature of tracking inventory, whereas those companies in the service sector find the time tracking functionality more beneficial. Keep in mind that there are also industry specific accounting software build for specific industry needs, the features of those accounting billing software may not available in a general accounting software. This is also why the need to examine the business requirements so significant.

It is critical for all small business owners to make sure that the accounting software has the potential to grow with their business needs. It can be very costly to change and make modifications to your small business software package when your company has expanded. Hence it is important to select a accounting business software which is able to provide you with additional features when your business grow. Software with a good track record and from a reputable company normally has all these designed in the system.

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For companies involving the inventory management, we cannot overemphasize how important it is that you need to evaluate the software’s capabilities as far as stock control concerns, Stock control is not only about keeping track of your inventory, it involves proper inventory evaluation, notifying stock purchaser for replenishing for items when their stock level reaches the minimum. Sadly to say that most business owners struggle with keeping a current file of their inventories, be aware that there are accounting software which hold a lot of promise, but when it comes to streamlining inventory control, the amount of money that it requires is often beyond their means.

Small business owners who want to get the maximum out of the software system should choose the software which promotes integration of all relevant business data and using standard accounting methods, it should also support customized business forms like quote and purchase orders, invoices should be easily created by the software. The software should be able to access customer data easily like names, phone numbers, vendor and contact address of the customer. In order to make payroll process easier, the software should automatically connect all databases that contain the employees’ names, address, tax information and contact number. The key requirement for a small business accounting software is to automate maximum accounting process and integrate critical business data.

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It is very easy to find a small business accounting software system nowadays, but it is not so easy to find an accounting software which fits your business needs and your budget at the same time. There are also plenty of free software and freeware available in the market, but then again, you shouldn’t expect too much from a system if you have not paid a lot of money for it, however most of the software will do the basics. But when your business grows, you will really have to migrate and change to a more robust system that can accommodate your requirements.

The process of deciding on this should of course be linked to your company’s business plan. If you plan to grow rapidly, then it’s better to plan ahead, otherwise, you will do well with those simple systems, even those free ones.

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Great Plains accounting software review

Great Plains accounting software also known as Microsoft Dynamics GP, it is an integrated solution to process most of your company’s accounting needs, this includes general analysis and general management of the supply chain, your finance and manufacturing, your customer relationship management and retail, your human resource and your project functions. The software system package was created by A Fargo, North Dakota-based company called Great Plains Software, who was the original developer of the program, it is an independent software developer for financial software systems, it locates in Fargo, North Dakota of the United States.

In view of corporate ERP/MRP industry, there has been quite some fierce competition between Microsoft Business Solutions (Great Plains, Navision, Axapta, MS CRM), Oracle (Oracle Financials, PeopleSoft, JD Edwards), IBM (including Lotus Domino), SAP, Microsiga (Brazil, Portugal). It is recommended to choose Microsoft or Java/EJB/J2EE platform.

Great Plains accounting software said that they are the first accounting software system available in the United States, which supports multiple users and work with Microsoft Windows operating system. Microsoft purchased the software firm in April 2001, after that, in order to fit it into their line of software products Microsoft had added the Great Plains accounting software to their Dynamics family of product serials and they have renamed it Microsoft Dynamics GP.

Great Plains accounting software can integrate with many other Microsoft products, the software’s functionality also can blend with other accounting industry software solutions. Great Plain software has now more than 30,000 installations across different companies, this has made the software one of the most successful mid-market products to date. Microsoft Business Solutions is always a first jewel, few years after Great Plains acquisition, Microsoft Business Solutions purchased Denmark based Navision Software. We think that if you are in the USA, Canada, Australia, New Zealand, Middle East, Latin America and your are not a construction company – then Great Plains is good choice for you.

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Great Plains accounting software has two choices of license, they are Business Essentials and Advanced Management. The Business Essentials option is about half the price of the Advanced Management license. Great accounting software has many good features that so many businesses follow, it has over 200 distinct modules and lots of modules and features can usually only be found in high end ERP software systems. With Microsoft as the back, the software uses the powerful and popular MS-SQL database. Which is the current trends in the IT applied science because it prefers toward reliable and standard database platform. We’d say you should look for ERP which sits in the standard database like Microsoft SQL Server, Oracle, IBM DB2, Ingress, Sybase, Unidata. SQL is the popular one and it will stay for a long time.

The software can also be customized to individual business’s needs. It has eConnect and Integration Manager Integration tools. This software can also integrate with many third party add-ons, this has made it more powerful. It is widely available in the market for sale, most of the industry professionals know the brand name and know how to use it since the product has been on the market for a long history.

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Great plain software supports the add-on for Credit Card Advantage which is produced by Nodus Technologies, Inc. This software program makes it possible to process payment immediate by credit cards using the Internet. So, technically Microsoft Great Plains has 10 years of history and is currently in the maturity phase.

Great Plains accounting software is a good choice if you want a comprehensive and powerful software system which addresses every need of your company’s management in terms of finances of every branch of your business. There are not many Windows based accounting software which bundle and support as many users in the United States like the way Great Plains accounting software does, it was the pioneer in this kind of software. Great Plains should be considered as ERP platform ready for tuning to individual needs, it is the platform for the customization. It fits to all the spectrum of industries: apparel, medical, pharmaceutical, distribution, logistics, aerospace, defense, wholesale, metals, chemicals, retail and so on.

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