Business

Audit Trails help maintain the integrity of a transaction by documenting all business transactions. It helps ensure businesses practice fair transactions throughout the financial year and beyond. In TallyPrime, there is an in-built feature for Tally Audit. This feature makes it easy for auditors to track changes made to the ledger master, date and amounts recorded in the voucher. In short, the audit trail in TallyPrime makes the financial evaluation process much more seamless and effective. A. What is an Audit Trail? An audit trail is a collection of records documenting every step in a business transaction, including invoices issued for payments or sales contracts revenue. It helps business owners determine and evaluate financial performances, find out bottlenecks (if any), [...]

TallyPrime has made data synchronisation between multiple branch offices and the head office easy. The process of tally data synchronisation includes replicating or consolidating tally data between two or more locations i.e. from the head office to the branches, warehouses or factories. This makes it easy for the branch offices to send data to the head office and vice versa. The entire process of sharing data is done over the Internet or a private network irrespective of the usage of data, based on the type of work done at each location. The frequency of updating data at various locations also differs and largely depends on the volume of data generated at each location or the availability/urgency of having the latest [...]

With the current pandemic showing no signs of abating, working remotely is the only option to keep a business thriving. To minimise the loss of productivity when working from home, companies need to employ technology that will help facilitate smoother workflow. Here, with the Tally remote access, employees can securely access TallyPrime from anywhere, which ensures that their work is not affected. Thus, let’s look at what remote access in TallyPrime is along with essential features it provides to keep your data protected. A. What is Remote Access in TallyPrime? With the Tally remote access feature, anyone with a valid license for the server, an active TSS (Tally Software Services), and an Internet connection can easily access TallyPrime from anywhere [...]

The past few years have brought about tremendous changes in the Indian tax system. With the introduction of the GST Act, few statutory elements were added to it - starting with the E-way bill and the latest addition being the E-invoicing. Currently, E-invoicing is mandatory for all B2B businesses with a turnover that exceeds Rs. 100 crores in the previous financial year. However, according to the latest news, starting from 1st April 2021, all B2B businesses may have to implement e-invoicing in their billing and ERP software. E-invoicing is a standard invoice format that eventually has to be followed by all businesses. To make the task of generating e-invoices easy, you can integrate IRP (Invoice Registration Portal) with your existing [...]