TallyPrime is a revolutionary product for businesses looking at automating and streamlining their operations. It is a sophisticated business management software from the famed Tally house. This new-age tool focuses on enhancing efficiency and transforming a business by seamlessly integrating all its operations. The sheer variety and simplicity of TallyPrime’s features make it an indispensable part of a company’s accounting system.

The latest release of TallyPrime is TallyPrime 4.0. The new version is more advanced than the previous ones and is loaded with many exciting offerings. Features like the graphical dashboard, WhatsApp integration, superior data-importing option, and many others raise user experience to a different level.

Let’s now delve deeper into the new features & enhancements introduced in TallyPrime Release 4.0 for a better understanding of the latest version.

A] New Features In TallyPrime Edit Log Release 4.0

1. WhatsApp For Business Integration

If you have always been worried about the recipients not opening their emails, you can now breathe easily. TallyPrime 4.0 enables quick and seamless communication by leveraging the power of WhatsApp. A single click is all it takes now to send business documents to your stakeholders.

For instance, customers can instantly receive invoices and reminders on WhatsApp to ensure timely payments. Local customers can easily click on the payment URLs in the message and make instant payments. Likewise, you can send financial reports to your lenders & investors via WhatsApp for quick perusal.

Faster stakeholder response facilitates swift decision-making and better operational management for any business. To top it all, it’s very easy to integrate TallyPrime with Whatsapp. Just sign up with WhatsApp for Business from TallyPrime, and you are good to go.

2. Easy Data Import From MS Excel

Handling huge volumes of data is not an easy task for any business. The manual process is cumbersome, tedious, and prone to errors. To keep these issues at bay, the TallyPrime new version has an enhanced import feature for importing data from MS Excel.

This feature is over and above the existing option to import XML files. 

The primary benefits of this feature are as follows:

  • Seamless import of masters and transactions from MS Excel
  • Easy identification of errors that occur while you import data from the logs
  • Mapping the data (of any format) from MS Excel onto various fields in TallyPrime
  • Option to use any of the default templates in MS Excel

Unlike manual data entry, TallyPrime 4.0 makes it a breeze for users to import vouchers with minimal hassles.

3. Graphical Dashboard Tool For Business Insights

In a complex business environment involving the interplay of several factors, dashboards play a pivotal role by enabling managers to make data-driven decisions. One of the most exciting TallyPrime new features is the introduction of a robust graphical dashboard. It is an innovative visual tool that offers a bird’s eye view of your business. It provides you with quick insights to facilitate effective decision-making.

Reading & analyzing voluminous reports can be a herculean task for business owners and managers. However, businesses can now track their cashflows and other vital parameters using graphs & charts on a visual dashboard. Further, this dashboard can be customized and additional dashboards can be created to suit your specific requirements. TallyPrime 4.0 offers a lot of flexibility to managers in the creation and use of business dashboards.

B] Updates And Improvements In Tally Prime New Version

  • Previous and current balance sheet invoicing

This feature in TallyPrime 4.0 allows you to print the previous & current balances in an invoice issued to a customer. This is extremely beneficial at the time of reconciling the ledger. The customer can take these balances and compare them with their books of account. Any possible discrepancy can be instantly rectified.

  • Exporting GSTR-3B for a Quarter in a Single JSON File for QRMP Dealers

This feature enables the QRMP dealers to export the quarterly GSTR-3B using a single JSON file and then upload it onto the GST portal for filing returns.

  • Party GSTIN/UIN in Input Tax Credit Available Section of GSTR-3B

As you scroll down the ‘Input Tax Credit Available’ section, you can check the vouchers for every party. You can also view the party-wise GSTIN/UIN under this section.

  • Explore TallyEdge from Within TallyPrime

TallyPrime 4.0 makes it very easy for users to explore TallyEdge, the go-to account aggregator. You can simply navigate to the Exchange menu and explore the same with minimal hassles.

  • Explore TallyPrime Powered by AWS from TallyPrime

It is easier now to explore TallyPrime powered by AWS. Users can explore and understand everything from the Help menu in TallyPrime.

  • Exporting TDS and TCS Returns As Per the Latest FVU Tool 8.2

According to the latest FVU tool 8.2, the following return reports can be exported using TallyPrime 4.0:

  1. Salary TDS Form 24Q
  2. TDS Form 26Q
  3. TDS Form 27Q
  4. TCS Form 27EQ
  • GST Ledgers in RCM and Transactions with Unregistered Dealers (URD)

TallyPrime 4.0 enables you to add GST ledgers in the RCM purchase vouchers and purchases made from unregistered dealers. These vouchers will be included in the returns without any issues.

  • Updation of GST Amount After Overriding GST Rate

The GST amount shall be updated in the vouchers despite a user overriding the GST rate. This is now possible even if you set ‘NO’ to the ‘Use Common Ledger for Item Allocation Configuration’ option.

  • Printing of Company GSTIN/UIN in Job WorkOut Orders

The job workout orders shall now be printed with GSTIN/UIN as follows:

  1. For a single GST registration, you can enter the GSTIN/UIN and State Code details using ‘More Details’ and print the document 
  2. For multiple GST registrations, the GST registration number and State Code shall be printed
  • Vouchers Recorded for Import of Services in GSTR-3B

The vouchers recorded under ‘Import of Services’ exempted from taxes shall now be included in 4A only. The ‘Input Tax Credit’ available section shall not be a part of the 3.1d ‘Inward Supplies’ (applicable for Reverse Charge) section. 

Note: The new TallyPrime features and updates are free of cost for the first year when you purchase the license. Please opt for the Tally subscription service for an instant upgrade to TallyPrime 4.0. With timely Tally Renewal, you can enjoy these services without any disruption every year.

Conclusion 

The new TallyPrime and TallyPrime Edit Log Release 4.0 provide a host of innovative features to augment user experience. The robust graphical dashboard offers a neat snapshot of your business at one glance. Now a few clicks are all it takes to send your business documents via WhatsApp. TallyPrime 4.0 also puts an end to all manual data entry hassles with its seamless data import from MS Excel feature.

Staying updated with the latest software releases is important for users to enjoy better functionality and enhanced security. Periodic renewal of the Tally license is essential to derive its full benefits

TallyPrime 4.0 is an advanced business management software created to meet the demands of modern businesses. Download the latest version to explore its capabilities in enhancing the efficiency of your accounting system and boosting the productivity of your business. Contact Us for related queries and more details on the product.