Tally systems are constantly updating and upgrading themselves to stay relevant and useful with the changing business scenarios. Continuous additions of new features as well as 100% statutory compliance of Tally has made it one of the most widely used software for accounting in India.
In TallyPrime’s latest version i.e. TallyPrime 2.1, the software has once again kept itself at par with all statutory requirements of businesses. Two of the newly introduced features include – the Edit Log (also referred to as the Audit trail) and Digital Signature. Both the features will ensure that the data integrity and maximum data accuracy are maintained.
The major product improvements in TallyPrime 2.1 will make the user journey more seamless. In this article, we will offer you an overview of the new updates in TallyPrime that will help you decide whether or not to upgrade to the latest TallyPrime 2.1 Release. You will also get to understand the new updates and how they work at handling the market changes about taxation, technology, and social needs.
1] TallyPrime 2.1 Features
The recently released TallyPrime 2.1 offers users the Edit Log feature that will assist them in keeping a trail of every activity performed in transactions, enabling them to have a better control over the changes in their company data.
It offers users an option to choose between two – TallyPrime without Edit Log and TallyPrime with Edit Log, as per the business needs.
- TallyPrime without Edit Log: It provides the users with the flexibility to choose if they want to use Edit Log or not for their everyday business operations.
- TallyPrime with Edit Log: This feature allows businesses to track their activities throughout the financial year. In the 2.1 Tally version, the Edit Log functionality cannot be disabled.
In addition, the new release also ensures the authenticity and integrity of the PDF documents by employing a dongle-based digital signature.
1.1] Highlights of TallyPrime 2.1/
The major release in TallyPrime 2.1 will enable users to increase their efficiency further & manage their businesses better. TallyPrime 2.1 updates include:
- Audit Trail or Edit Log feature
- Generate Digitally signed invoices directly
- Generate E-way and E-invoices with just a single click
- GSTIN Number/HSN code validation in one click
- Report – Save View – this new feature helps to save views of the report for prospective reference
- HSN-Rate wise attributes in GSTR-1 report
- Simplified access to Tally reports even on the mobile
What’s more interesting is that the latest version of Tally comes in two types:
- TallyPrime Edit log 2.1
- TallyPrime 2.1
Both these versions of Tally have similar features, however, one differentiator between the two is that in one version, the edit log can be disabled whereas in the other version it cannot be disabled.
2] Product Improvements
2.1 TallyPrime Edit Log Release 2.1
The new Edit Log update in the TallyPrime 2.1 is also being referred to as an audit trail. This will help the user keep a track record of all of their activities performed in Tally along with all the entries made and changes highlighted in all Tally master, vouchers, and enterprise data, which includes data split and data migration. It also provides a report consisting of user-wise activities with date and time stamps.
Once the user upgrades to the TallyPrime 2.1 Edit Log, the system offers them the facility to create different users and entries. Tally will record all the transactions and user activities. However, in the latest release, this trail cannot be deleted or changed.
The Edit Log update in TallyPrime will help users keep a track of their financial data as well as stay abreast with all the activities and modifications in their transactions and masters.
With Edit Log in TallyPrime 2.1, the user can:
i) Track all their activities performed in:
- Transactions: All vouchers
- Masters: Stock items, accounting groups, and ledgers
- Company data: Migrate, import, repair, split, and so on
ii) Gain details about the following aspects in the Edit Log screen
- The version number to catch the number of logs created for a particular transaction.
- Nature of activity performed like creation, alteration, and deletion.
- Details of users who performed the activity.
- Date and time at which the activity was initiated and performed.
iii) Compare the attributes with the previous version by drilling down
Additionally, the user can also configure the comparison to view different types of values like altered values and configuration-based values.
iv) View altered and deleted
- Vouchers fed in the day book and ledger vouchers reports
- Masters in Chart of Accounts
- Migrate data while retaining the report views saved in it
2.2] Digital Signature In Tally
The new digital signature feature in TallyPrime 2.1 is dongle-based. The user can use a digital signature in Tally only if they have the signature certificate on their dongle certified by the authorities.
The user can use this feature in Tally, only if their dongle is connected to the system. With the new release, the user can digitally sign their documents in Tally and share them with others over email.
Furthermore, the facility of digital signature will help the user to digitally sign and authenticate their documents with ease. Thereafter, they can securely share the documents with their stakeholders.
The TallyPrime Edit Log Release 2.1 and TallyPrime Release 2.1 both support dongle-based digital signatures.
The user can now seamlessly sign all documents, including vouchers and reports and:
- Export the documents as PDF
- E-mail the PDF documents
- Save the documents as PDF while printing
Furthermore, the user can also add a digital signature to their multi-voucher report, which will ensure that all the vouchers are digitally signed.
With the digital signature, the user can ensure the authenticity and integrity of their documents and avoid impersonation and tampering with the PDF documents that are shared with their stakeholders, customers, auditors, and chartered accountants. The user can also print, export, and/or email multi-voucher reports for a specific party or period.
Summing Up: What’s New?
The latest release of TallyPrime Edit log 2.1 comes with a mandatory Edit Log that cannot be disabled by the user. TallyPrime 2.1 without the Edit Log offers the user the flexibility and control to choose whether they want to use the Edit Log or not. However, the latest version of TallyPrime is ideal for users who wish to slowly move towards maintaining the Edit Log while accounting.
This latest version is best suitable for businesses that are growing and are constantly in search to reduce their accounting costs and maximise their efficiency. The recent update in TallyPrime is aimed to provide the user with maximum data accuracy and data efficiency while ensuring that their data is safe and all documents are tamper-proof with a digital signature.