Tally.ERP 9 Series A Release 3.1, 28th April 2011

The new Tally.ERP 9 Release 3.1 is available now!

FREE for all users of Tally.ERP 9.*

Little things in Tally.ERP 9 Release 3.1 enable you to do much more…and impact your business positively. A Bank allocation feature that eases transactions and processing. Or the feature that lets you settle your pending Bills from the outstandings report. Others that let you close your dangling accounts, or boost your business’ image by adding your company logo to invoices.

Major Enhancement :

Accounting Reports : While generating Columnar reports, under Columnar Register Alteration screen, the option Show Item Value is provided to show the value of items in a separate column

Bank Reconciliation Statement : In BRS, the Bank date column is provided in Printout for the Vouchers where the Reconciled date was above the Current Period

Excise for Dealers : To avoid duplication of RG 23D Entry No in Excise Purchase Voucher, a warning message RG 23D Entry No has been used earlier is provided in Excise details screen.

Excise for Manufacturers : In the Excise Exempt Sales Invoice print out for the Duty Amounts in Words field, the duty amount will be printed as Nil (Exempted Sales)

Inventory Masters : In Logical Migration Alt+Ctrl+M, a new Module All Masters has been introduced to Migrate the Item Masters and Voucher Class.

And more……

The highlights of this release are listed below.

  • Rupee Symbol
  • Image Printing
  • Banking
  • Tally Marketplace
  • Bill Settlement from outstanding
  • Pre-Closure of Orders
  • Receipts & Payments Reports
  • Job Work In/Out
  • Income Tax for Salaries
  • Cash flow projection statement
  • Multiple addresses for company and ledger masters
  • Tally in Arabic

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
  • Payroll

Click here for release notes

Click here for download

What is Banking in Tally ERP 9

Often, transactions could run into thousands per month for even a small business. Business managers get a real boost from this new functionality built into Tally.ERP 9 Release 3.0. In fact, it’s so powerful and all-encompassing that Banking is assigned its own New Section within the product.

Just what every business needs, the Bank allocation feature brings everyday bank- related chores right to your fingertips and eases transactions and processing.

Highlights:

Multiple instrument and Mode of Transaction details in single voucher

The new Banking feature allows you to record and monitor multiple transactions in a single voucher. Also, while the old system only captured the dates of transactions, this feature allows the monitoring of transactions by Amount, Date, Instrument Number or modes (like NEFT, Cheque, DD, etc.), thereby conveying a more complete picture. The ability to identify payment modes in the system and separate dates for each instrument eases bank reconciliation.

Instrument-wise reconciliation

Reconciliation can be done for each instrument rather than the entire voucher. The instrument details (number, date, etc.) are displayed for easier reconciliation.

In case of unseen transactions such as Bank charges, interest paid etc., these can be captured in a new voucher without discarding the BRS (Bank Reconciliation Statement) in progress. Further, existing vouchers can be altered in case of any discrepancy found during reconciliation.

Opening BRS

The new Banking feature allows the manual recording or automatic carrying forward of the un-reconciled bank transactions from the current year to the subsequent year (as Opening BRS). These can then be reconciled in the subsequent year.

Cheque printing configuration with Preview

Enhanced cheque printing configuration with print preview to reduce wastage. Further it has been simplified to copy measurements from previous configurations.

Multiple cheque printing/capture

A separate “Cheque Printing” report (in the Banking section) has been introduced to enable multiple cheque printing with ease. Also, know if a cheque has been printed or not by a simple Yes or No against each cheque.

Also, since it is sometimes not possible to know which Amount/Favouring Name is going to be printed on which cheque leaf, cheque details can also be recorded after printing.

Payment advice printing

A system-generated payment advice (covering letter for payments) can be printed for a single or multiple vouchers.

Deposit slips printing

Deposit slips can be printed for a single or multiple cheques, further simplifying Banking transactions.

Benefits:

  • Saves time
  • Reduces errors
  • Simplifies banking
  • Improves productivity
  • Improves traceability

Why upgrade to Tally.ERP 9?

Following are some of the reasons why you should upgrade to Tally.ERP 9:

Tally.ERP 9 can handle more transaction capacity per day with greater speed. Technological advancements will allow you to do more with lesser time. Availability of information in real time helps you and your business teams to make decisions quicker. Save time and cost involved in continuous compliance by receiving expert advice from your Chartered Accountant on demand.

Tally.NET

This technology powers the following capabilities through the Internet and also delivers a variety of special services to help your business:

  • Remote Access
  • Control Centre
  • Integrated Support Centre

Payroll

Payroll module has been enhanced to help you compute your company’s pay slips, arrears calculations, ad-hoc payments, leave encashments, reimbursements and management of taxes more efficiently. You can also manage all salary deductions, including Provident Fund through the enhanced payroll module of Tally.ERP 9.

Payroll Statutory Reports
Almost all the PF, ESI and Professional Tax forms and reports that are needed to be submitted to the authorities are now available in Tally.ERP 9.

Statutory

The powerful compliance features of Tally.ERP 9 simplify tax computing, information maintenance and generation of returns and forms. State specific Value Added Tax, Tax Deducted at Source, Service Tax, Excise for Manufacturer, Excise for Traders and electronic filing of return is made easy with Tally.ERP 9. Corrections of errors or wrong entries can be changed to ensure complete and continuous compliance.

Excise for Manufacturers

Excise for Manufacturer in Tally.ERP 9 can handle statutory and business requirements in a simplified manner.

E-VAT

Tally.ERP 9 now enables you to electronically file your VAT returns, using the Internet.

Direct IP Sync is now free

From Tally.ERP 9 onwards, the Direct Client and Direct Server capability for Synchronization through private network (also referred as IP Sync) is a default feature available in the product. The process for Data Synchronisation remains the same while doing the Sync using Direct -Client and Server capability (or IP Sync).
Tally.ERP 9 gives you the power to synchronise business data between two Tally.ERP 9 single users.

Tally.ERP 9 – Auditors’ Edition

Tally.ERP 9 extends your enterprise further. You can now leverage the deep domain and statutory expertise of the Chartered Accountant community. Your Chartered Accountant, who has installed the Tally.ERP 9 – Auditors’ Edition can access your Tally.ERP 9 data from anywhere, using the remote capability, provided you have given him the permissions to do so. This results in continuous audits so that your company stays continuously compliant, business process outsourcing, receivable and payable support, sales force augmentation, business process optimization and so on… opening up your business to take advantage of the many advisory & profesional services that can now be remotely offered at affordable costs.

  • DataAnalysis
  • Auditing
  • Financial Statements

For more details click here

Process to move Tally ERP 9 click here

Available new stat 138 from 31st March, 2011

New Stat.900 Version is available free for existing Tally User
Major Enhancement are :

Payroll

  • The Annexure A and Annexure B to Income Tax Form 16 are provided as per the statutory requirements.

Value Added Tax

As per the finance bill/budget proposals of various State Governments and Notification of Orissa Commercial Taxes Department to revise the VAT Rates, new VAT/Tax Classifications have been introduced effective from April 1, 2011 to support billing of transactions. The value of entries made
using these classifications will be currently captured only in VAT Computation report. In the forthcoming Stat.900 releases, the functionality will be enhanced to capture the value of entries made using the new VAT/Tax class in respective VAT Forms.

The list of States with the respective VAT/Tax classifications is as follows:

Bihar

  • Purchases @ 5%
  • Purchases @ 13.5%
  • Purchases – Capital Goods @ 5%
  • Purchases – Capital Goods @ 13.5%
  • Purchase From URDs – Taxable Goods @ 5%
  • Purchase From URDs – Taxable Goods @ 13.5%
  • Input VAT @ 5%
  • Input VAT @ 13.5%
  • Input Tax Credit on Purchase From URDs @ 5%
  • Input Tax Credit on Purchase From URDs @ 13.5%
  • Sales @ 5%
  • Sales @ 13.5%
  • Sales @ 5% to URDs
  • Sales @ 13.5% to URDs
  • Output VAT @ 5%
  • Output VAT @ 13.5%
  • Output VAT @ 5% to URDs
  • Output VAT @ 13.5% to URDs
  • Purchase Tax @ 5%
  • Purchase Tax @ 13.5%

Maharashtra

  • Sales – Composition @ 5% (Retail)

Uttar Pradesh

  • The Annexures II and III of Form XXVI are provided as per statutory requirements

Arunachal Pradesh

  • The Payment Challan – Form FF-08 is provided

Jammu & Kashmir

  • Purchases @ 25%
  • Sales @ 25%
  • Input VAT @ 25%
  • Output VAT @ 25%
  • Purchase Tax @ 25%

Karnataka

  • Purchases @ 14%
  • Purchases – Capital Goods @ 14%
  • Interstate Purchases @ 14%
  • Purchase From URDs – Taxable Goods @ 14%
  • Sales @ 14%
  • Sales – Works Contract @ 14%
  • Interstate Sales @ 14%
  • Input VAT @ 14%
  • Input Tax Credit on Purchase From URDs @ 14%
  • Output VAT @ 14%
  • Output VAT – Works Contract @ 14%
  • CST @ 14%
  • Purchase Tax @ 14%

Release details of Stat900 version 138 (PDF file)

Download Stat 138

Split Company Data

Splitting Company Data after finalization of accounts.

Introduction
Tally’s flexible period-less accounting permits the entry of data for any number of years. This feature has tremendous benefits. The presence of voluminous old data creates unnecessary load on the system.
Splitting a financial year enables you to retain most of the benefits while overcoming this system overhead.

When you split the data, two things happen:-
1. New companies are created for the respective split periods.
2. The entire data is retained in the original company.

How to Split Company Data :

I. For Tally.ERP 9 Release 2.1 and Lower Releases (including Tally 9)

Pre-split activities
Before you split the data, ensure that:

  • All adjustment forex gains/losses have been fully adjusted using Journal entries. Verify that the item “Unadjusted Forex Gains/Loss” does not appear in the balance sheet
  • There are no pending purchase bills/sales bills. Check the profit and loss account and inventory statements for pending purchase/sales bills. You may account them to the respective party accounts or to the respective “bills pending” accounts.
  • Ensure that all the Bank Vouchers are reconciled from Bank Reconciliation statement.
  • Ensure that a Backup of the data has been taken

Procedure to Split the Financial Years

  1. Go to Gateway of Tally, Select Alt+F3: Cmp Info.
  2. Select Split Company Data.
  3. Select the Company whose data is to be split.
  4. Tally recommends the split from date based on the existing data. It is recommended that the Split Point is set as the beginning of the latest financial year, though Tally permits any date as the split point.
  5. Splits occur in sets of two periods. Hence, start with the latest. For example, you need to split a company’s four years data (1-4-2008 to 31-03-2012) into four separate “companies”, each with a particular financial year. Select the beginning of the latest financial year first (1-04-2011).
  6. On confirming the periods, two new companies will be created – one with data from 1-4-2008 to 31-03-2011, i.e., for three years, and the other for the period 1-4-2011 to 31-03-2012.

The historical data, for one or more financial years, will be preserved as a single company, and the current financial year, will be preserved as another company. Normally there is no reason or benefit to split the earlier years again into separate companies. If you wish to do so, repeat the steps mentioned above for the earlier period (1-4-2008 to 31-03-2009, 1-4-2009 to 31-03-2010 & 1-4-2010 to 31-3-2011).
All the companies are full companies in their own right. Data can be entered, displayed and altered. Please print the key financial reports (Trial Balance, Balance Sheet, Profit & Loss, and Stock Summary etc.) for each company for the relevant periods and compare them for accuracy.
Once you are satisfied that you have a successful split, it is advisable to take a backup of the original company and permanently delete its data from the hard-disk. This will prevent any accidental entry of fresh data into the old database.
To delete a company, press Alt+F3 at the Gateway of Tally, select a company to Alter it, and at the point where you can modify the Company Information, press Alt+D.
You will also need to alter the names of the two freshly created companies as per your requirement.

II. For Tally.ERP 9 Release 3.0 and Above

Pre-split activities
Before you split the data, ensure that:

  • Verify Company Data Utility: Verify Company Data is a built-in utility which detects the possible error that occurs on data verification and provides the respective reason for the error detected. Further, it prompts the user to rectify the listed error with possible solution so that the same errors do not reoccur in future. The user has a choice to resolve these errors manually or by using the helper available.
  • All adjustment forex gains/losses have been fully adjusted using Journal entries. Verify that the item “Unadjusted Forex Gains/Loss” does not appear in the balance sheet
  • There are no pending purchase bills/sales bills. Check the profit and loss account and inventory statements for pending purchase/sales bills. You may account them to the respective party accounts or to the respective “bills pending” accounts.
  • Ensure that a Backup of the data has been taken

Verify Company Data
To start the data verification process before splitting the data:

  • Go to Gateway of Tally > F3: Cmp Info. > Split Company Data > Verify Company Data
  • Select the required company
  • Press enter to view the Possible Errors screen.

The Possible Errors screen is displayed as shown

Possible Error screen display the Errors, Reason for the Error

Procedure to Split the Financial Years

  1. Go to Gateway of Tally, Select Alt+F3: Cmp Info.
  2. Select Split Company Data.
  3. Select the Company whose data is to be split.
  4. Tally recommends the split-off date based on the existing data. It is recommended that the Split Point is set as the beginning of the latest financial year, though Tally permits any date as the split point.
  5. Splits occur in sets of two periods. Hence, start with the latest. For example, you need to split a company’s four years data (1-4-2009 to 31-03-2012) into four separate “companies”, each with a particular financial year. Select the beginning of the latest financial year first (1-04-2011).
  6. The Split Company Data screen displays as shown:

  7. On confirming the periods, two new companies will be created – one with data from 1-4-2008 to 31-03-2011, i.e., for three years, and the other for the period 1-4-2011 to 31-03-2012.

The historical data, for one or more financial years, will be preserved as a single company, and the current financial year, will be preserved as another company. Normally there is no reason or benefit to split the earlier years again into separate companies. If you wish to do so, repeat the steps mentioned above for the earlier period (1-4-2008 to 31-03-2009, 1-4-2009 to 31-3-2010 & 1-4-2010 to 31-03-2011).

All the companies are full companies in their own right. Data can be entered, displayed and altered. Please print the key financial reports (Trial Balance, Balance Sheet, Profit & Loss, and Stock Summary etc.) for each company for the relevant periods and compare them for accuracy.

Once you are satisfied that you have a successful split, it is advisable to take a backup of the original company and permanently delete its data from the hard-disk. This will prevent any accidental entry of fresh data into the old database.

To delete a company, press Alt+F3 at the Gateway of Tally, select a company to Alter it, and at the point where you can modify the Company Information, press Alt+D.

You will also need to alter the names of the two freshly created companies as per your requirement.

How to change current period in Gateway of Tally

The Current Financial Year is 1-4-2010 to 31-03-2011, and in the Gateway of Tally it displays the Current Period as shown:
Now if you want to create a voucher on 1-4-2011, the error message Date above current period (31-Mar-11) is displayed.

Now if you want to create a voucher on 1-4-2011, the error message Date above current period (31- Mar-11) is displayed.

Change the Current Period in the Gateway of Tally by pressing Alt + F2 Change Period 01-04-2011 to31-03-2012, and then record the vouchers for the new financial year.

It will change the Current Period information and you will be able to save vouchers for the financial year
2011-12.

Balances of the previous financial period will be carried forward without passing any closing transactions.

Tally stands tall

The software application category has been introduced in the Channel Champions Survey for the first time. Tally emerged as the most preferred channel vendor due to its channel coverage and connect. Microsoft ranked number two on the back of its push in the market for its ERP and CRM offerings. Though SAP was seen as aggressive in the market it has limited market coverage.

Tally

With its enviable position in the accounting software space and the increased focus on its small business ERP offering, Tally emerged as the vendor with the largest channel connect. Despite its large partner ecosystem, Tally was ranked high on channel policies and management. It offers the best margins in the business, conducts regular training programs for channels, and shares a strong relationship with the channel at the local level. Another impressive aspect is that despite such a large partner ecosystem there are no MOP issues with Tally.

Technology Training

Tally delivers comprehensive hands-on, instructor led TDL training programs across the year, at several centres in India.

These are, typically, a week long, full day programs. Please contact our regional offices for more information on the availability of seats. The next training schedule will be announced soon.

For TDL Training Calendar click here

For program details – Basic TDL click here

For program details – Enhancements in TDL click here

Available new stat 137 from 18th March, 2011

New Stat.900 Version is available free for existing Tally User
Major Enhancement are :

Value Added Tax

Uttar Pradesh

  • The Annual Return – Form XXVI is provided.
    Note: The Annexures 1 to 19 will be provided in forthcoming Stat.900 releases.
  • An editable report – Form-26 Declaration is provided to enter the details of declaration forms received from Commercial Taxes Department. In this report, the forms details like opening balance, forms received, used, lost / destroyed, surrendered, amount covered and the closing balance can be specified. The details entered in this report will be captured in page 2 – section 7 of Form XXVI.

Release details of Stat900 version 137 (PDF file)

Download Stat 137

Receipts and Payments Reports in Tally ERP 9 Rel 3

For non-profit organisations and NGOs that typically rely on information related to income and expenses, the Receipts and Payments report in Tally.ERP 9 proves ideal. This summary of cash flow for a period includes Cash at Bank & Bank OD. It begins with the opening cash-in-hand at the commencement and ends with the closing cash-in-hand, so non-trading institutions can track their funds and monitor disbursement.

Unlike a cash flow report that does not consider the opening balance of cash, the receipts and payments report includes the cash opening balance.

Benefits :

  • Useful for non-trading institutions/non-profit organisations
  • Shows exact cash and bank position for a particular period
  • Improves management of cash
  • Helps control expenditure
  • Provides a single view of receipts and payments for cash payments

How to do in Tally ERP 9 Rel 3 :

  • Gateway of Tally > Display > Receipts and Payments

For download the pps file click here (more in details)