Tally is the famous Indian ERP accounting software, and is offering so many amazing advance features to its users on a constant basis which is very much appreciated. I have no idea about Tally’s inbuilt application platform however, from my profession of teaching and accounting, I can suggest some features which may increase user’s overall experience with Tally.erp 9 and the same is very beneficial to small and micro SMB who can not invest huge amount after SAP, Quick book or other customized Software. Further to above, no other ERP accounting software can beat job prosperity which is available only for Tally Accountants.
Enhanced Ratio Analysis in Tally
Ratio Analysis help managers to understand financial position quickly and help them in immediate decision-making and I really appreciate that Tally is providing Ratio Analysis however the facility is now limited only to few Ratio which cuts the usability of this great Managerial Tool.Let’s take example of equity ratio or net worth ratio. It is different from debt/equity ratio which is already given in tally but equity ratio shows the relationship of shareholder’s fund and total asset. So, if it has been available in Tally.erp 9, then it will be easy to analyze the solvency of a company. Another example is of interest coverage ratio. Again Tally.erp 9 offers interest calculation facility but it lacks an automated interest coverage ratio. If it will be in tally, it will be more helpful to compare net profit and fixed interest charges and to analyze loan and debt.
If you need to learn more about Ratio Analysis, then just drop me a line, or you can read in more details about various Ratios on my blog.
Fixed Asset Register
Maintenance of Fixed Assets Register is a statutory and compulsory need under the Companies Act, 1956 (now, Companies Act, 2008) and there is large number of private and public limited companies are using Tally.erp 9 as their sole Accounting software as well as to manage statutory compliance.However as on writing of this article e.g. 1st December, 2010, maintenance of Fixed Assets Register is not available in Tally.erp 9 which is a big cons for private/public companies which are using Tally.erp 9. Apart from the statutory need, Fixed Assets register is also helpful for other small and medium SMB to track of asset in a systematic manner.So, that the user can easily capture important details like an asset purchased, depreciation, sale and remaining part of asset etc.
Missing Elements to be a Complete ERP System.
Tally has now converted Tall.ERP 9. It means it has all facilities for integration of businesses . But when we watch other Enterprise resource processing software like Quickbook, Economic Accounting Software, we may feel that many important things is still missing in Tally.erp 9 to make it user’s darling software. for instance, electronic fund transfer (EFT) and decision support system (DSS), credit /debit card payment mechanism, HR management etc.
Don’t forget to share your views on the above subject. If you feel something also is missing in Tally.erp, then just share it here.