Upgradation plays a major role in the growth of any business. Be it a multinational one or a start-up firm the role of up gradation has been of the same importance on the part of both. In today’s world of dynamic business it has become immensely important on the part of the business to remain upgraded in order to acquire customers earlier than their competitors.

In order to make your business smart and reliable, it is important on your part to opt for the tools that match the modern-day demand of the business process. One of those requirements on the part of every business firm that matches the modern-day demand has been an all-essential tool name Tally Prime.

Generating reports like accounting, financial, inventory management, and management control has become immensely easy with the umbrella of features offered by Tally Prime. Creating ledger reports, cash/bank reports, stock transfer reports, and cost category reports is a time-consuming task that has been brought to ease with Tally Prime. In this blog, we will understand the various features of Tally Prime that you need to be definitely aware of.

Easy Management of Inventory

Management of stocks in many categories, batches, and locations/godowns is known as inventory management. Determining the stock reorder level, valuation of the stocks and recording the entire cycle of manufacturing are the major operations which you can perform through Tally prime with respect to the management of inventory. Also, ensuring no understocking or overstocking of the stock reorder level can be defined.

Sophisticated Payment Management

A unique bill reference can be generated through the means of tally Prime through which you will be able to track the bill in the easiest manner. The bills that have been pending for a long time can be followed up according to business needs. Also, one can view the status of the total cash inflows and cash outflows of the company.

Multitasking Management

TallyPrime packs a punch when multitasking capabilities come into the picture. It provides the ability to switch between business reports quickly without any hassle. ‘’Go To’’ the new search bar feature helps users search for things they need, like reports, and view business insights.

Easy Electronic Bill Generation

The process of GST compliance is easier with the help of the e-Way bill. The document is usually necessary when travelling from one place to another. It can include details like the buyer’s name, the number of products, the HSN code, and the transporter’s identity. One can generate the e-Way Bill for various invoices and e-Way Bill reports, that showcase the e-Way Bill status for all business-related transactions. 

Conclusion

With the help of TallyPrime, small and medium-scale businesses can easily manage the important tasks of the business aspects like inventory, taxation, payroll, and so on. As a result, businesses can focus on growth and expansion without sacrificing time on activities like stock keeping, tax management, and e-Way bill generation. These features make the product of TallyPrime irreplaceable to none!