Release 5.3.8 - Highlights :
Krishi Kalyan Cess Compliance
As per the Budget 2016-17, Krishi Kalyan cess of 0.5% will be levied on all taxable services, with effect from June 01, 2016. The service tax rate including Krishi Kalyan cess is 15%.
Krishi Kalyan Cess master and transaction experience is now available in Release 5.3.8. With this you can account for Krishi Kalyan Cess in all transactions recorded from June 01, 2016.
About Krishi Kalyan cess
· Krishi Kalyan cess of 0.5% is levied, collected, and paid to the government on all taxable services.
· Krishi Kalyan Cess is levied in addition to Service Tax and Swachh Bharat Cess.
· Like Swachh Bharat cess, Krishi Kalyan Cess is separately chargeable on invoices.
· Input Tax credit of Krishi Kalyan cess is adjustable against Krishi Kalyan cess payable on services provided.
The highlights of this and earlier release are listed below
- Powerful and simplified statutory functionality brings to you the best solution to manage your taxation in the simplest and most efficient manner. Release 5 gives you the experience of a hand-prepared return with intuitive intelligence designed to help you generate 100% accurate returns in a matter of minutes. With Release 5, you enjoy the complete flexibility to configure tax rates and classifications as applicable to your business as well as a simple and easy experience to record transactions. What’s more, it also enables you to save your finalized returns which will help you to either modify them or prepare revised returns as appropriate.
Migrate to Tally.ERP 9 release 5.3.2 quickly with the all new Tax Rate Setup tool. Easily view and specify VAT rates and excise tariffs, and start recording transactions in no time at all. Using the Tax Rate Setup tool ensures maximum productivity in business operations by making the entire process of setting VAT or excise tariff rates effective, and quick.
- On-Demand Data Synchronization that gives you the ability to share information across your locations in a simple, reliable and secure manner, without the need to be simultaneously connected to each other. This completely eliminates the need for intensive and rigid schedules; delivering the benefit of sheer convenience in your hands. Release 5 takes advantage of the Tally Software Services for synchronisation of master information as well as transaction data across locations and ensures that creation, modifications and deletions are appropriately updated.
- Comprehensive post-dated cheque management wherein you can flexibly track and record post-dated cheques which are automatically regularised on the due date. What’s more, you enjoy full visibility of PDCs issued and received along with their real-time accounts; enabling accurate and informed cash planning.
- New Migration experience: Release 5 also offers you quick, easy and seamless migration of business data. The system will automatically populate all relevant information such as tax information, MRP etc. and migrate your data accordingly; enabling you to immediately begin your billing process after migration.
- Lighter and Swifter Tally.ERP 9 ensuring a highly optimised system memory usage, hassle free and efficient product update experience delivering only those updates which are relevant to you.
- One click zero-configuration installer that greatly simplifies the installation process and reduces the set-up time so that you are up & running in seconds.
- Robust Licensing enables multiple users to use the same single user license to access data, one user at a time.
- Over 2000 product enhancement & issue resolution requests are addressed to further improve the Product Stability and Completeness.
Tally.ERP 9 Feature Summary
- Quick to install and allows incremental implementation
- Easy to customise
- Powerful remote capabilities to boost collaboration
- Audit & compliance services
- Integrated support centre
- Security management
- Statutory processes
- Manufacturer's excise
General Features of Tally ERP
Excise for Manufacturers (New!)
Allows you to keep Multiple Excise Registration (Manufacturer & Dealer) in a Single Company. It is possible to keep item wise Valuation Methods (Valorum, Quantum, MRP). You can create separate Unit of Measure for Excise Reporting. It is poosible to take Item wise Duty calculation for different Valuation Methods in a single invoice. Generation of Rule 11 invoice for Purchase returns is possible etc.
Control Centre (New!)
- Another new capability enables you to manage your license on your own (surrender, re-activate and so on) as well as easily distribute custom codes (TDL's) and prevent their misuse.
- Tally.ERP 9 takes full advantage of the connected world that the Internet opens up via an umbrella of services called Tally.NET. The capabilities described above are made possible via Tally.NET. As can be seen from our roadmap document, over time the list of services available will grow in breadth and depth.
Remote Access (New!)
- This deceptively simple capability to access your data across the world from another copy of Tally.ERP 9 is an exhilarating experience.!
Concurrent Multi-lingual capability
- Allows you to expand your business beyond geographical boundaries without worrying about language barriers. You can maintain your accounts in one language, view reports in another language and send invoices to your customers in yet another language, all at the press of a button.
– Lets you automate the management of your employee records including visa and employment contract management. This feature also offers automatic calculation of salaries and payslip generation.
– Enables you to generate profitability statements for each project executed, including financial and material resource apportionments, wherever applicable.
– Allows faster data entry and printing on 40 column continuous stationery. It also provides barcode support.
Flexible Financial Periods
Allows you to break away from inflexible accounting years and perform all accounting functions in Tally for time-periods that suit your convenience.
– allows you to create and maintain up to 99,999 companies, concurrently.
– helps you synchronise and update data across multiple locations. This enables fast and easy exchange of business information, between offices and branches, across various geographies.
Consolidation of Companies
- Enables grouping of companies and provides consolidated reports. Changes done in any constituent or branch company are automatically updated in the grouped information.
Unlimited levels of classification
– Facilitates ledger classification and re-classification as required. It also enables easy viewing and analysis of information; thus helping you make informed decisions.
– Helps you compare information in order to understand and analyse performance levels for various periods or divisions. It helps you study and understand the buying patterns of customers, so that you can channel your resources to specific segments, periods or customers. It also helps you analyse cash flow situations.
Drill Down Facility
– Helps you drill down or instantly update from any report – starting from the Balance Sheet down to Vouchers, or vice versa.