One of the most crucial and useful features that TallyPrime offers businesses, is its banking capability. Bank-related activities are performed almost on a daily basis by business owners. And so the need to automate and facilitate smooth maintenance of records and processes that are fundamental to effective recording of accounting transactions for timely payments, is extremely significant. How does TallyPrime help business owners manage their banking activities? The banking feature in TallyPrime, enables business owners to perform a host of bank-related activities, including payments to partie ..read more

Release Notes – What’s New in TallyPrime You can count on us for a delightful journey with TallyPrime as we work to enhance the product with new features and fix issues, which will make your experience even simpler and more seamless. Highlights – TallyPrime Release 2.0 Connected experience for e-Way Bill With the connected experience for e-Way Bill, TallyPrime enables you to – Generate e-Way Bill online at the time of voucher creation. Generate multiple e-Way Bills online at one shot. Cancel e-Way Bill, update Part B & Transporter ID, and extend validity for transactions in bulk. Pri ..read more

One of the most crucial and useful features that TallyPrime offers businesses, is its banking capability. Bank-related activities are performed almost on a daily basis by business owners. And so the need to automate and facilitate smooth maintenance of records and processes that are fundamental to effective recording of accounting transactions for timely payments, is extremely significant. How does TallyPrime help business owners manage their banking activities? The banking feature in TallyPrime, enables business owners to perform a host of bank-related activities, including payments to partie ..read more

The payroll process is an essential activity in an organization with employees. Depending on the structure of the salaries and the prevailing laws and regulations, the calculation of payroll can be either simple or more complex. It is vital to process payroll in a timely and accurate manner. Any discrepancies in the calculations have a direct impact on employee morale and productivity. The payroll process also involves compliance with the regional laws and regulations. If there are mistakes that are not in compliance with the rules, it could put the organization into legal and financial troubl ..read more

One of the fundamental accounting assumptions associated with the preparation and presentation of financial statements is the accrual basis of accounting. The following are three accounting foundations that are used by the business. Accrual Basis of Accounting Cash Basis of Accounting Hybrid Accounting What is Accrual Basis of Accounting The word “Accrual” can be explained as revenue and cost are accrued i.e., they are recognized as earned or incurred (irrespective of whether money is received or paid) and entered in the books of accounts for the period to which they relate. The procedure of ..read more

Definition Cost Estimation is a statement that gives the value of the cost incurred in the manufacturing of finished goods. Cost estimation helps in fixing the selling price of the final product after charging appropriate overheads and allowing a certain margin for profits. It also helps in Inventory Reports drawing conclusions regarding the cost of production and in determining the necessity to introduce cost reduction techniques in order to improve the manufacturing process. Cost estimation takes into consideration all expenditure involved in the design and manufacturing along with ..read more

What is revenue expenditure? Revenue expenditures are short-term expenses that are also known as revenue expenses and operational expenses (OPEX). Revenue expenditure is generally spoken to in relation to fixed assets as it records the expenses which have occurred in connection to a fixed asset. For example, if you have a piece of equipment that requires monthly maintenance then the expense will be termed under revenue expenditure. It involves all costs that are required for the successful running of a business such as salaries for employees and property taxes.  Revenue expenditure is rec ..read more

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Electronic waybill, popularly known as an e-Way bill is a document that needs to be generated for consignment involving the movement of goods beyond the notified value. Most states have a threshold value of 50,000 and a higher threshold value in a few states. e-Way bill is not a new concept. It has been in place for a few years now and in fact, even before GST with different names. We all know it is a process that requires the supplier/transporter to generate an e-way bill from the portal before transporting or shipping the goods. Once the e-way bill is generated, a unique number is generated ..read more

Introduction Businesses today have plenty of obstacles to overcome and plenty of tools to help them do so. Technology in particular has greatly changed the way companies operate, and currently over ninety percent of all companies use technology of some form to help with basic functions. Payroll is the most commonly used feature in software. Companies that don’t like the thought of outsourcing will have to find another solution, and TallyPrime’s payroll is an attractive option. There are many benefits of using TallyPrime payroll solutions or HR payroll software, including some which one may not ..read more