Tally
Introduction
Tally is powerful accounting software, which is driven by a
technology called concurrent multi-lingual accelerated technology engine.
It is easy to use software and is designed to simply complex day to day
activities associated in an enterprise. Tally provides comprehensive
solution around accounting principles, inventory and data integrity.
Tally also has feature encompassing global business. Tally software
comes with easy to use interface thus making it operationally
simple.Tally accounting software provides a solution around inventory
management, stock management, invoicing, purchase order management,
discounting, stock valuation methodology, etc.Tally accounting software
also comes with drill down options, which
can track every detail of transaction. It helps in maintaining simple
classification of accounts, general ledger, accounts receivable and
payable, bank reconciliation, etc.
The technology employed by tally makes data reliable and secure.
Tally software supports all the major types of file transfer protocols.
This helps in connecting files across multiple office locations.
Tally accounting software is capable of undertaking financial
analysis and financial management. It provides information around
receivables turnover, cash flow statement, activity consolidation and
even branch accounting.Tally accounting software is east to set up and simple to use. A
single connection can support multiple users. It can be easily used in
conjunction with the Internet making possible to publish global
financial reports.Tally accounting software can seamlessly connect with various Microsoft applications.
Benefits of Tally Accounting Software
Any business owner understands the importance of maintaining proper
books of account. This practice ensures that finance for the company is
always in order and are correct at all given points of time. Company
should always be aware of its financial positions.Earlier, most of the businesses were employing manual practice in
maintaining books of account. However, with the advent of modern
information technology, this task can be performed by accounting
software. Tally is one such all powerful accounting software.
Tally accounting software provides a solution to all the problems
real businesses have to encounter. Single software takes care of all
tasks required for enterprise management. Accounting task such as
records keeping, accounts receivable and payable management and bank
reconciliation are made simple through tally.Financial management is also made simpler under Tally software. The
software allows management of finances across multiple locations can
handle multiple currency transactions, manage cash flow and interest
payment.Thus, Tally software is flexible, reliable, secure, easy to use and affordable.
MS Excel and Financial Decision-Making Model
Excel 2010 features rich analytical functions such as Pivot Tables,
Advanced Graph and Decision Analytics. The current excel have developed
functionality and reduces the dependency on VBA codes. Excel has formula
groups and nested functions, which are able to undertake major of
financial calculations. Conditional formula such as logic, lookup,
indirect and match functions help in data analysis and What-If analysis.
Excel provides the basic framework to develop simple and manageable
financial models. Though excel framework is unstable for certain type of
analysis, but still it functionalities and compatibility make it an
ideal tool for finance decision making.
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