Tally.ERP 9 allows the comparison of Cost Centres to arrive at true performance. Cost Categories—a cluster of related Cost Centres—allows parallel allocation of the same transaction in multiple dimensions.
A budget is a plan prepared for the flow of funds in an organisation. It contains financial guidelines for the future plan of action for a selected period of time. A budget helps to refine goals and use funds efficiently
Introducing a power wizard to simplify your tax configurations on Tally.ERP 9
Quick set up is a powerful wizard that will guide you to configure statutory masters required for the effective use of a particular statutory module. It is a one time, step-by-step configuration that will ensure the tax rates/percentage for various items and services, tax assessment number, name and designation of person incharge of business etc. are set up for your business accurately. It only takes few minutes to configure and if there is a change in the taxation policy in future, you will have to reconfigure the values. Quick setup is a single window statutory master configuration screen that allows configuring accounts and inventory masters required for every statutory module. Quick setup allows you to make required basic configurations to the masters to account statutory transactions. It also allows making advance configurations, wherever applicable. With quick setup you will be able to select the tax module of your choice in one step without having to go through the entire menu option.
Currently quick setup is available for the following taxation modules:
The auditor can also generate the required Financial Statements like Balance Sheet andProfit & Loss Account as per Schedule VI which needs to be submitted to the stake holders as per the format prescribed in Company’s act.
Highlights of Statutory Audit Tool
• Flexibility to compare data available in two different Companies
• Present the data in the required format for analysis and Audit
• Highlight specific exceptions
• Step by Step approach to conduct various analysis to find deviations
• Facility to apply sampling methods to filter transactions for vouching
• Provides the facility to perform audit and provide necessary audit comments
• Functionalities like Cut, Paste, Undo etc. have been provided to classify/re-classify
any default Tally Group/Ledger Balances to prepare the required reports.