There are numerous benefits of tally courses in India and worldwide for both employees and employers. For business organizations, the necessity to hire accounting professionals to collect information on debit, credit, monthly expenditure, etc. is very essential. On the other hand, the candidates, who pursued tally courses are eligible to get excellent career options and skills. These courses are affordable, flexible, and time-saving and provide an amazing foundation to pursue a career in the accounting field. If you are planning to pursue a career and are confused about the outcome, then let’s just dig more into tally courses.
What is Tally Course?
The full form of Tally is Transaction allowed in a Linear Line Yards and it is a famous software program launched in 1986 by Goenkas, which is used by large-scale as well as small-scale companies or businesses. It is utilized to perform accounting activities like bookkeeping, analysis of profit and loss, inventory maintenance, payroll management, tax compliance, etc. in a methodical manner.
As per the demand and need of the businesses, it offers various versions including Tally. ERP 9, Tally Prime, Tally. ERP 9 Silver, Gold, and Auditors. Tally.ERP9 is the latest one. The eligibility criteria to enroll in a tally certification course is that one must have completed 10+2 or equivalent from a recognized board or institution, preferably in Commerce streams (though the stream is not mandatory), and have a basic knowledge of accounts and business studies.
The eligibility criteria to enroll in a tally certification course is that one must have completed 10+2 or equivalent from a recognized board or institution, preferably in Commerce streams (though the stream is not mandatory), and have a basic knowledge of accounts and business studies.
For diploma courses, at least 50% of minimum marks secured in 10+2 in the commerce stream is mandatory. Tally course even proposed an advantage, if one is seeking a job opportunity in the accounting industry. It is beneficial for students and graduates of finance, marketing, accounts, and business management.
There are two types of tally courses available, certificate and diploma. The time duration requires for the former one is 1 to 4 months, while 6 months to 2 years for the latter one (depending on the institution). Both courses involve Tally Basic to Advance, ACE, GST, and ERP 9, and Tally for Business Owners and Accountants programs.
The estimated fees of the tally course are INR 1000 to INR 20,000, depending upon the college or institution. The syllabus of the Tally course depends on the program that one enrolled in. But there are some popular topics:
|Basics of Accounting||Introduction|
Types of Accounts
Accounting Principles or Concepts
Mode of Accounting
Rules of Accounting
Double-entry System of Bookkeeping
|Fundamentals of Tally.ERP9||Features of Company|
Creation of Accounts
Getting Functions with Tally.ERP9
|Accounting Masters in Tally.ERP9||Group Charts|
Bill of Materials
|Inventory Masters in Tally.ERP9||Stock Items|
Multiple Stock Groups
Units of Measure
Multiple Stock Categories
|Voucher Entry in Tally.ERP9||Introduction|
Types of vouchers
Chart of Vouchers
|Advanced Accounting in Tally.ERP9||Cost Centers and Cost Categories|
Budgets and Scenario Management
Bill of Materials and Manufacturing
Banking and Payment
Audit and Compliance
Generate VAT Reports
File VAT Returns
|TAXES||Create Tax Ledgers|
Enable GST or VAT
Generate Tax Reports
File Tax Returns
TDS (Tax deducted at Source)
TCS (Tax Collected at Source)
|Technology in Tally.ERP9||Tally Vault|
Integration of CRM
Backup and Restore
Create Logo of the Company
|Payroll Accounting in Tally.ERP9||Configure Payroll|
Create Employee Ledgers
Record Attendance and Leave
Reports of Salary
Deduct Taxes and Other Deductions
|Generating Reports in Tally.ERP9||Financial Statement|
Profit and Loss Account
Inventory Books and Reports
Accounts Books and Reports
What is the Latest version of Tally Software?
The latest version of tally software is Tally ERP 9 Prime. It works more efficiently and has a better interface and user-friendly features to perform. This version includes all the functionalities of GST. It has amazing features as compared to the previous versions.
- Fast data entry and retrieval: It is happening only because of auto-suggestions and auto-completion of task facility. The latest version added the shortcut key feature to speed up the process of data entry and retrieval.
- GST Compliance: The latest version is completely GST-compatible to help businesses to cope with the GST regulations in India. The application is well-equipped to manage GST returns, E-invoicing, E-way billing, GST reports, HSN (Harmonized System of Nomenclature), and SAC (Service Accounting Codes) with all the essential tools and techniques.
- Simplified User Interface: Simplified the navigation structure by making it a user-friendly interface. In the latest version of Tally one can customize the dashboard which makes it easy for the user to add frequently utilized features for quick access and saves time.
- Multiple Billing Formats: It supports several multiple billing formats to facilitate more flexible and customized billing formats, which include entering billing details, printing or emailing invoices, payment tracking, and debit and credit notes to improve the overall billing process.
- Remote Access: The latest version of Tally has a gateway feature that enables business organizations to access Tally data or information over the internet, securely and safely. It also has facilities for web browsing, mobile application, and remote desktop system.
Career Benefits of Tally Course
As we all have entered the world of entrepreneurship and businesses, there is a tremendous demand for someone, who can manage finances and accounts. The most demanding tally jobs are Accounts Assistant, Tally Operator, Payroll Executive, Taxation Executive, Accounts Manager, and Financial Analyst, and the use of tally is different in each job.
Accounts Assistant: This role provides the assisting to the senior accountants to maintain financial records, generate financial reports, bank reconciliation, managing inventory, and GST compliance with the help of the Tally application.
Tally Operator: In this role, Tally Software is used to perform various accounting tasks, such as data entry (financial data including sales, purchase, payment receipt, and journal entry), generating reports, maintaining ledgers, taxation, etc.
Payroll Executive: In this job profile, tally software simplifies the payroll management method by automating calculations and generating reports by setting up employee profiles, entering salary, deduction, and benefits details, generating pay slips, and ensuring compliance with legal and regulatory requirements.
Taxation Executive: The position of taxation executive needs the use of tally to compute and file taxes, track tax liabilities and credits, ensure compliance with tax laws, and respond to tax-related queries. Tally also provides digital features like the e-filling of tax returns and integration with tax portals to streamline the process of tax management.
Accounts Manager: With the application of tally, the accounts manager can manage multiple accounts of clients from a single place or location and keep tracking important financial data. Tally allows to create and manage ledgers, generates invoices, tracks expenses, and ensures clients’ accounts are up-to-date.
Financial Analyst: Tally is a valuable tool to perform the tasks of the financial analyst as it aids to analyze financial data from multiple sources including bank statements, invoices, and balance sheets, which provides better insights into the financial health of the business and recommendations to make informed decisions.
Earning Benefits of Tally Course
Companies hire tally professionals to compute complex financial functions and get more accurate and efficient results. The average income of a tally professional is INR 15,000 to INR 25,000 monthly and yearly it is INR 1,80,000 to INR 3,00,000.
The income depends on experience and level of course, which means a candidate with a diploma or advanced tally certificate may have the opportunity to get more salary than someone with a beginner-level certificate. Excellent experience accelerates the salary of tally graduates from INR 5,00,000 to INR 7,00,000 yearly. As per Ambitionbox.com, the top five companies that pay good average annual salaries are:
- Accounting Firm- INR 2,10,000
- Tally 9- INR 2,00,000
- G Technosolutions- INR 1,90,000
- Nephroplus- INR 1,70,000
- Fadeco Ltd. Saudi Arabia- INR 1,60,000
The Benefits of Tally Course and Tally Software in the Economy
The contribution of Tally is plentiful to the economy. Tally software or application employs in varied Economic sectors namely Banking, Manufacturing, Government, and Education, all of these are significant pillars of any economy.
Banking– In the Banking sector, Tally has been installed to carry out accounting jobs (for example transactions, ledgers, and financial statements), management of loans (involving tracking of loan applications, disbursements, repayments, and interest calculations), manage all branches and customers (opening and closing accounts, tracking transactions, and generating account statements), tax compliance (GST and TDS), generate analytics and reports.
Manufacturing– For the field of manufacturing, the Tally application can be exercised to manage inventory (tracking stock levels, maintaining stock records, and generating inventory reports), production (processes like tracking work-in-progress, monitoring production costs, generating production reports) and sales (sales orders, generating invoices and monitoring payment collections.
Government– As Tally is uncomplicated to operate and cost-effective, the government utilizes it to track expenditures, generate budget reports, calculate salaries, generate payslips, and manage employee records. The compliance of Tax is also done with the help of Tally. It is also used to track assets purchased, maintain assets records, and generate assets reports.
Education– Tally application is a must-have for the education sector in order to execute fees and library management. The task of fee management is very hectic and tiresome, particularly fee payments, generating pay receipts, and monitoring fee arrears. While the maintenance of books and books on loan is also not an easy task. But the presence of Tally makes it trouble-free for anyone. Apart from these tasks, maintaining attendance records has also been done by tallying.
Benefits of Tally Courses as In-Demand Skills
One of the most important benefits of the Tally Course is that it is a highly in-demand skill in the job market. In the accounting and finance industry, almost all sizes of businesses use Tally accounting software to manage their financial records, prepare financial statements, and comply with taxation regulations.
As tally is user-friendly and very easy to learn, which makes it becomes a preferred software for small and medium-sized organizations that may lack trained accounting staff. And there is a wide range of employment opportunities in the finance and accounting sector with job roles that demand Tally skills including Accountant, Auditor, Finance Manager, and Tax Consultant.
It is also useful for entrepreneurs and small businesses as they need to manage their own financial records and reports. Because of the widespread requirement for Tally, the demand for Tally Skills can be expected to grow as most organizations adapted it as primary accounting software.
Time-Saving and Cost-Effective Benefits of Tally Course
The Tally courses are well designed to provide necessary skills and knowledge in an efficient and structured manner. The procedure of learning the use of tally software is very simple and time-saving. It offers a hands-on experience that makes it possible for the learner to understand the software and practically retain the information.
In terms of cost-effectiveness, the tally courses are favorable for both business companies and candidates. The fees for tally courses are reasonable compared to other accounting courses. For business firms, the installation cost of Tally software or applications is relatively lower than other accounting applications. Even, t can be upgraded when the business grows without any cost.
In a work environment, where time is important, tally accounting software saves time in performing financial and accounting tasks. The course also teaches the avoidance of common mistakes that may occur while using software, which also saves time and money.
Benefits of Tally Courses To Improve Accuracy and Efficiency
The introduction of Tally in the Business world improves the accuracy and efficiency rate. Tally course teaches the automation of tasks like data entry, calculation of taxes, and generating reports, which enables the learners to utilize accounting software more accurately and efficiently.
It also helps to prevent errors, for example, avoid duplication of entries and making mistakes in calculations. It allows the customization of reports and invoices to give a clear or organized presentation of financial data. With several keyword shortcuts, Tally helps to navigate software quickly and efficiently.
How Tally is Beneficial to Make Better Financial Decisions?
As Tally maintains accurate and up-to-date financial records, such as transactional data, inventory levels, and financial statements, which supply businesses with a better understanding of their financial position in the market. The process of financial analysis has also been done through Tally to identify areas of strength and weaknesses and make better financial decisions.
By analysis of historical data or patterns and market trends, tally enables businesses to prepare budgets and forecast future outcomes (for example, future investments, revenue projects, and expenditures).
Check here the best tally courses:
How Tally Simplified Accounting Processes?
The simplification of accounting processes is one of the prime benefits of the Tally course. The automation feature of Tally Software composes the procedure of data entry (including importing data, auto-filling data, recurring entries, barcode scanning, etc.) in a more clarified way.
Several accounting tasks for instance bookkeeping, preparation of financial statements, tax compliance, multi-currency support, and bank reconciliation, can be quickly or easily done via tally software.
Bookkeeping– Tally authorizes firms or business organizations to record and track their financial transactions (including sales, purchases, expenses, and payments) and perform bookkeeping jobs in an efficient and organized manner. Tally software organizes and categorizes all of this information.
Preparation of Financial Statements– To perform this task, Tally needs to follow some steps:
- Setting up a company
- Creation of ledger accounts
- Setting up taxes
- Setting up inventory
- Entering opening balance
- Recording transactions
- Generation of financial reports
Tax Compliance– It plays a huge role for any business and Tally ensures avoiding any penalties or fines for non-compliance. Tally makes sure to set up the tax rates according to the regulatory tax authority of the jurisdiction. It is responsible for tax-related rates, calculations, invoices, payments, and reports.
Multi-Currency Support– It means that one can use variant currencies for business transactions. The steps to perform this feature of tally-
- Enabling multi-currency support
- Setting up of currencies
- Setting exchange rates
- Recording of multi-currency transactions
- Generating multi-currency reports
Bank Reconciliation– Tally performs this process by verifying and reconciling the balance of the bank account with business transactions. It collects, reconciled, compared, and adjusts bank transactions to generate bank reconciliation statements.
It furnishes real-time data related to balance sheets, profit and loss statements, cash flow statements, and inventory reports for instant updation in the tally software’s database. It can also help users to view outstanding payments, pending orders, and other important financial information in real-time.
How Has Tally Enhanced the Security System of Organizations?
Tally enhanced the security system of organizations by using numerous features:
Data Security– It protects the data of business organizations. It permits the administrator to set up different levels of access rights for different users to ensure that only authorized users can ingress sensitive financial data, reducing the risk of breach.
Encryption– Tally uses 128-bit SSL encryption technology to secure data including financial transactions, reports, and other sensitive data. It is highly secured and is designed to protect data from both external and internal threats.
Audit Trail– The audit trail feature of Tally caters to businesses to maintain a record of all financial transactions and changes made to the financial data. It not only maintains data but also identifies any potential security breaches and tracks unauthorized changes or transactions.
Backup and Restore– Tally come up with different backup options like full backup, incremental backup, and differential backup, which can be performed manually or automatically (depending on settings configured in Tally) and keep it saved and secured to a local disk or remote location. In a situation of any system failure or data loss, tally helps businesses to restore financial data from backup.
Data Synchronization– A set-up of synchronization is a must for every business. In Tally, synchronization can be done either online (which requires an active internet connection) or offline (which can be performed using a removable storage device or a file transfer protocol), to ensure that data is safe.
Frequently Asked Questions of Benefits of Tally Courses
Here are the questions about the benefits of tally course.
Question 1. What is the duration of the Tally Certificate Course and Diploma?
Answer. The duration of the Tally Certificate Course is around 1 to 4 months, whereas Diploma in Tally takes 6 months to 4 years (depending on the institution) to complete.
Question 2. What are the benefits of Tally Courses to learn online?
Answer. The benefits of tally course are abundant as it provides flexible hours, the comfort of home, a wide range of resources, and up-to-date information.
Question 3. What is the basic educational qualification required to pursue a diploma in Tally?
Answer. Candidates with 50% of aggregate marks in 10+2 in the Commerce stream from a recognized institution are eligible to pursue a diploma in Tally.
Question 4. What are the accounting benefits of tally courses?
Answer. The benefits of Tally courses in accounting are to automate accounting processes, particularly bookkeeping, financial statement preparations, and inventory management, saving businesses time and reducing chances of errors.
Question 5. Is the Tally course economical?
Answer. Yes, it is economical. For the certification program, one needs to pay only INR 1,000 to 5,000, on the other hand, for a diploma it will take 10,000 to 20,000.
Conclusion of the Benefits of Tally Courses
Ultimately, the benefits of Tally courses are countless for business persons and a candidate (who is looking forward to these courses as for a career). Having skills in Tally or knowing how to operate Tally software attract great job opportunities with good salaries for the candidate. The key benefits of Tally are the simplification of accounting processes, time-saving and cost-effectiveness, improved accuracy and efficiency, enhanced security systems, and allows to make better financial decisions.
It can be applied in sectors like accounting and finance, banking, government, manufacturing, education, etc. The application of Tally is not in the curriculum of any graduate and postgraduate degree. One can only learn Tally from diploma or certificate programs available in online or offline institutions. So, this was the guide to the benefits of tally course.