You must have heard about Tally; If you have reached any computer institute, you shall know about Tally Computer Course. People often ask the questions this, What is Tally? What are the benefits of doing Tally? And Tally Full Form.
In this article, you will get the answer to all of this. As we know, in today’s digital era of computers, we humans take help from computers and become dependent on them. Whether it is for printing a photo, office or workplace, or even accounts work, everywhere we use it.
Similarly, many companies use different software for accounting-related work. Tally is one of the popular applications for accounting tasks. Let’s get to know what is Tally and Tally full form.
Tally Full Form
The Tally Full form is ‘Transactions Allowed in a Linear Line Yards‘. It is accounting software owned by a multinational company Tally Solutions Pvt. Ltd. The company’s headquarters is located in Bangalore city of India.
As per the company’s report, more than a million people use Tally software for accounting. In fact, Tally software is famous for accounting in India as well as in other countries.
What is Tally Meaning in the Computer?
Tally Meaning: A Tally is computer software used to make a continuous record of any numbers or amount, as the number of words inside a document on a daily basis in organizations, small companies, and the people associated with accounting.
Tally software is designed to automate and integrate all the business operations, such as finance, sales, manufacturing, purchasing, and inventory, by a single software. Tally can calculate balance sheets and profit and loss accounts within minutes. Many complicated calculations in accounting can be done with Tally software.
Tally is being used by almost all companies, from large establishments to even small businesses, for its accounting purpose. It is mainly used by chartered accountants, financial auditors, and other financial institutions due to its easy-to-use, simplicity, user-friendliness, and reliability.
Why there is Need for Tally Software?
There was a time when people use ledger books to record all the financial transactions of business by writing and storing them in physical documents. But with the growth of computer technology in the business environment lead to the development of accounting and marketing software.
Thus, there are many accounting software available in the market, and Tally is one of them.
A Tally is a multi-functional software that performs many accounting operations like:
- Payroll Preparation
- Cost Center Management
- Inventory Management
- Multiple Currency Functions
- Billing
- Reporting
- Ratio Analysis
- Taxation
- QR Code & E-Invoice
- Banking & Much More.
While studying, students have a lot of confusion about their future. Choosing the best course will be the more chance of making a career in this particular field. For such students, obtaining information about Tally by taking the practice is an excellent option for making a career.
Accounting software is trendy today, and many people are working on it. That is why there is a good opportunity to getting job offers on it, and you can earn good money. Tally’s demand is increasing day by day everywhere.
Read Also: I Recommend you read the latest version of Tally ERP software Features.
Do You Know – Initially, Tally Solution Company was initially known as Peutronics.
Formation of Tally Software Solutions.
Tally 3.0 is the first version launched in 1990 as a Microsoft DOS application. It has the features of the basic accounting needs of small businesses named was Peutronics Financial Accountant.
After that, the product was renamed Tally for the first time. In 1999, this company changed the name their name to Tally Solutions. In the year 2001, a new version i.e. Tally 6.3 was launched. The version was a little advanced as it can be used for educational purposes and accounting with the license facility.
In 2005, the Tally 7.2 version was launched with an even better design; the main feature was (VAT) Value Added Taxation. In 2006, 2 versions of Tally were released togetherly, one of which was Tally 8.1 and the other Tally 9. These were the multilingual version of Tally.
In 2009, the company released Tally ERP 9 for business management solutions. In 2016, the company was chosen to provide a GST facility as an interface between GST Server and Tax Payers, and in 2017 the company launched the completely updated GST Compliance Software.
- Related: Computer Software for Business.
FAQs
What is tally software and its uses?
A Tally is computer software designed to automate and integrate business operations. It uses in processes like Accounting, Payroll preparation, and cost centre management, Inventory management, multiple currency functions, Billing, Reporting, Ratio Analysis, Banking, Taxation, including GST Calculations, and many more.
What is the purpose behind tally software?
The primary purpose of the tally was to eliminate old time-consuming ledger accounting records and automate and integrate all the business accounting operations, such as finance, sales, manufacturing, purchasing, and inventory, by single computer software.
What is tally software on a computer?
Tally is accounting computer software. It is user-friendly and reliable to perform all the accounting tasks like calculating balance sheets and profit and loss accounts finance, sales, manufacturing, purchasing, inventory, etc., and many complicated accounting calculations can be done with tally software.
What is the first version of the tally?
Tally 3.0 was launched by Tally software Pvt Ltd in 1990 as a Microsoft DOS application. It has the features of the basic accounting needs of small businesses named was Peutronics Financial Accountant.
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