History of Tally Accounting Software

Accounting Software for Microcomputers

In those days, even small personal Microcomputers were quite costly form small business. Such computers had limited memory and hardware resources. Many of the Small Business Accounting Software were bloated and limped in small memory of microcomputers.

Evolution of Codeless Accounting Software  

In old days, all applications in Computer needed strict Coding system, requiring pre planning. The chart of Accounts became inflexible. Codes created an added layer of cryptic numbers, making accountants repulsive to Computerized Accounting.

In this backdrop of such maze of Coding System, Tally (formerly known as Peutronics Pvt Ltd), published an accounting software named PFA (Peutronics Financial Accounts), which was gradually becoming popular as it could run in limited memory of microcomputers at the time. Then, completely revamping PFA, a new revamped Accounting Software named Tally was released. Tally was built with an innovative design and some revolutionary features. It immediately caught the fancy of small businessmen.

Tally was first successful Codeless Accounting system. In those days, people even could not think of codeless system. But, despite all negative and snobby predictions, Tally’s codeless system became successful. Business men cheered being free from rigorous coding system bonds, as they could easily organize & re-organise the Chart of Accounts, in their own way.

Tally Software running fast in Low Cost Microcomputer

Tally was a very compact, tiny piece of software. It could run much faster even in small memory of microcomputers, available at that time, while other software were mostly bloated, either failed to load in small memory and limped in low configuration computers.

History of Accounting Software Audio

Reverse Accounting with Tally Accounting Software

We have learned that Accounting is systematic presentation of operational results of all Financial Transactions for a specified accounting period and state of financial position as at the end of Financial period. This means, business transactions as recoded in the Books are the source, from which the Accounting reports are created.

However, Tally first gave businessmen the wild taste of Reverse Accounting, the process of creating transactions as per desired Financial Reports.

User could display the report on screen, drill down successively through any report showing the next level details, ultimately reaching to the Day Book level (list of transactions). Now any transaction may be inserted, deleted, modified and the result immediately reflected. This way, business could curate the accounts, as desired. In manual accounts, as records cannot be modified with such ease. Computerised accounts cleans everything, leaving no trace of the history.

Reverse Accounting Software Audio

Accounts Modification – Novel Tools of Tally Accounting Software

Not only that, Tally introduced many unforeseen methods to ease the accounts modification process with wink of eye, removing the tiniest wrinkles and traces of accounts books alteration.

Audit Logs

Over time, as use of Accounting software became commonplace even for small organisation, government, statutory and  regulatory authorities  got active with guidelines, directions and rules, to track and trap unauthorised and manipulative alterations in Accounts Books in digital forms.

Recent directives of MCA to implement Audit Trail / Audit Logs, originally issued in 2021 is example in this direction. However, the initiative is stalled and delayed to be implemented in 2022 and then again kept in abeyance till 1st April 2023.

To comply with the statutory requirements, Audit Log features were incorporated in Tally PRIME, rel. 2.1