10 Best Features of ERP Software

Tally Solutions |Updated on: February 6, 2024

When it comes to ERP Software, Tally is offering Tally.ERP 9 for small and medium businesses to manage their enterprises efficiently. For over three decades now, Tally.ERP 9 is being used by business owners across India to manage their day-to-day operations and generate required business reports which help make important decisions.

Tally.ERP 9 is packed with a vast set of robust features that make the software reliable and flexible to use. We have enumerated these features below.

These are some of the key ERP Software features you as a business owner should look for in any ERP software.

Accounting management in Tally.ERP 9 software

With Tally.ERP 9, a business owner can easily create and track sales vouchers; and get detailed reports on a daily, weekly, monthly or yearly sales basis
Business owners can easily create purchase vouchers and view supplier-wise purchase details
Order processing and tracking can be easily done using Tally’s ERP software
Businesses get full support and functionality to create journal, payment, receipt and contra vouchers

Banking transactions support in Tally.ERP 9 software

Business owners can manage cheques easily with Tally.ERP 9. You can generate cash/cheque deposit slips and track them.
You will find it very handy to use Tally.ERP 9 for reconciling business transactions directly with bank statements. Just upload the soft copy of the statement into the software. Within a few seconds, you will get the list of reconciled transactions based on reference numbers.
Tally.ERP 9 supports transactions made in the form of e-Payments with multiple banks.

Inventory management

Tally.ERP 9 can be used to manage stocks in a very flexible manner. You can define unlimited stock groups, stock categories and arrange stock accordingly. Get reports based on stock groups and categories to get an overview of stock status across locations.
Based on the business need, you can create multiple godowns and track stock godown-wise. Create multiple price lists for your business to manage different types of customers. Manage stocks with batches and access stock summary reports to view the stock position.

GST compliance in Tally.ERP 9 software

Easily file GST Returns using Tally.ERP 9, complete support for GSTR-1 , GSTR-2 and GSTR-3B.
Tally.ERP 9 is GST compliant. It is designed to handle GST transactions, reverse charge scenarios, advances and so on.
With regard to GSTR-2, business owners and GSTPs can generate the form in JSON directly and file the return. Buying dealers can add missing purchase invoices, and purchases made as imports and reverse chargeable services to claim their Input Tax Credit.
Business owners and GSTPs can send reports of mismatching or missing invoices to suppliers so that they take quick action to reconcile the lapses
A salient feature of the latest Tally Release is that it marks vouchers in which changes are made during the invoice matching process. The list of changed vouchers can be used update the books without worrying about overwriting of data or appended transactions getting erased.

Easy access to business reports

Business owners can access Balance Sheet, and Profit and Loss statement at any point in time in just one click before taking important business decisions.
Tally.ERP 9 provides reports on payment performance of parties, item wise profitability, cash flow, fund flow and many more insightful reports for informed decision making.

Budgets and controls

Budgets and Controls is one of the differentiating features in ERP software. Businesses typically allocate budget to different departments or cost centres and prefer to track the various expenses occurring in each unit. With Tally.ERP 9, businesses can define the budget for cost centres and track expenses against the budgets.
Businesses can set the credit limit for parties, and before passing transactions Tally.ERP 9 warns the user if the particular transaction is crossing the defined limits.

Manage unlimited companies and group companies

Tally.ERP 9 provides flexibility to manage data of multiple businesses operated within the same license. Users can see consolidated reports by creating Group Company in the ERP software.
One of the key Tally’s ERP Software feature is that user can see financial status of his Group Company and even compare financial reports between two quarters.

Security features in ERP Software

The Tally Vault password encrypts and safeguards data from unauthorized access.
User-level access and controls can be defined and granted by configuring the User Management settings.

ERP Software functionality – Remote access

You need to access business reports or add new business transactions remotely? Security is a typical concern when one has to access business data from other locations.
With Tally.ERP 9, you can take important business decisions when necessary by accessing business data securely and making updates as required

Synchronization of data from two or more places

Tally’s ERP software feature of synchronization helps in managing centrally located data from two or more places of business. You can define and set the rules. Data gets synchronized even when new voucher data is entered.

Version and pricing of ERP Software

Tally.ERP 9 is available in two versions, Tally.ERP 9 Silver and Tally.ERP 9 Gold
Tally.ERP 9 Silver is a single user license, priced at Rs. /- plus applicable GST
Tally.ERP 9 Gold is a multi-user license, priced at Rs. /- plus applicable GST. With a multi-user license, unlimited number of users can work in parallel in a single LAN environment