Last Updated on: 6th May 2025, 04:20 pm

Integrated Business Accounting System

Integrated Accounting Systems (IAS) are tailored for small to medium-sized organizations, providing an affordable and cohesive solution covering multiple functional areas.

• Modular Structure: Normally divided into key modules such as:
  • Money: Financial Accounting
  • Materials: Inventory Management
  • Manpower: Payroll Accounting
  • Taxation: Compliance and Reporting

Features of Integrated Accounting system

• Seamless Integration: Modules work cohesively to present a complete picture of business operations.
• Real-Time Updates: Information from various supporting modules and functional areas automatically flow into the system, ensuring up-to-date information.
• Holistic View: Provides a consolidated perspective of operations, enabling informed decision-making.
• Affordable Solution: Suitable for organizations seeking enhanced collaboration and functionality using simpler tools.

We now discuss about the key features of each component module of Integrated Accounting System

Integrated Accounting Systems- Financial Accounting Module – Key Features

The key functional areas and features of Financial Accounting Module, of an Integrated Accounting system,  are depicted in following chart

Integrated Accounting Systems- Financial Accounting Module – Key Features

Functional areas and features of Financial Accounting Module, of an Integrated Accounting system,  are briefly explained below:

Core Financial Accounting Integration : To provide a unified system for managing diverse financial and operational activities efficiently.

• Integrated System: Combines financial accounting with invoicing, inventory, Tax Accounting, Manufacturing and Payroll, ensuring seamless synchronization between all modules.
• Transaction Categorization: Enables systematic recording of transactions under predefined heads and Input document types, for accurate reporting and analysis.
• Chart of Accounts: Hierarchical, multi-level structures allow for detailed categorization of accounts and summarised reporting.

Accounts Management and Reports : ToFacilitate effective monitoring, control, and analysis of financial health.

• Accounts Master Setup: Easy creation and configuration of company-specific account structures and vouchers.
• Pre-Designed Templates: Simplifies voucher entry and document preparation with customizable templates.
• Books of Accounts: Maintains ledgers, journals, summaries, and detailed account books for comprehensive financial management.
• Accounts Receivables and Payables: Tracks outstanding dues, bill-wise aging, reminders, and cash flow management for creditors and debtors.
• Financial Statements and Reports: Generates balance sheets, profit and loss statements, and trial balances in compliance with accounting standards.

Banking and Cash Management : To Ensure smooth banking operations and maintain liquidity transparency.

• Bank Reconciliation: Automates reconciliation with imported statements or manual entries for accurate banking records.
• Post-Dated Cheques Management: Tracks and schedules PDCs for payments and cash planning.
• Cash Flow and Funds Flow: Forecasts cash positions, identifies surpluses and shortfalls, and generates actionable alerts.

Multi-Currency Support and Forex Management : ToSupport businesses operating in international markets with robust multi-currency functionalities.

• Global Transactions: Allows accounting and reporting in multiple currencies with real-time exchange rate adjustments.
• Forex Gains and Losses: Tracks currency fluctuations and incorporates them into accounts for accurate financial representation.

Budgeting and Financial Controls : ToStrengthen financial planning and control mechanisms.

• Project-Wise Categorization: Enables allocation of budgets and financial tracking at project or departmental levels.
• Interest and Ratio Analysis: Provides tools for interest calculations, profitability analysis, and financial ratios to evaluate performance.

Automation and Workflow Management : ToEnhance efficiency and reduce manual effort in financial processes.

• Payment Gateways Integration: Supports automated payments and receipts processing through integrated gateways.
• Workflow Automation: Streamlines processes such as vendor payments, approvals, and reconciliations.

Comprehensive Reporting and Analysis : Provide actionable insights and enable seamless communication of financial data to stakeholders.

• Filtered and Configurable Reports: Offers tailored financial reports such as cash flow, sales and purchase analysis, and profitability summaries.
• Ageing Analysis: Tracks overdue receivables and payables, aiding in timely actions for financial optimization.
• Graphical and Shareable Reports: Generates visual insights and supports both digital sharing and physical printing.

Compliance and Statutory Requirements : Ensure adherence to local and international accounting and taxation standards.

• Tax Accounting: Automates GST and TDS compliance, including calculation, deduction, and filing of returns.
• Depreciation and Regulatory Reports: Generates compliant schedules for depreciation and other statutory financial documents.

Integrated Accounting System – Materials Accounting – Key Features

The key functional areas and features of Materials Accounting Module of an Integrated Accounting system, are depicted in following chart

Integrated Accounting System – Materials Accounting – Key Features

Inventory Management

• Stock Tracking: Batch-wise stock management, stock valuation using multiple methods, and tracking expiry dates for inventory items.
• Multi-location Support: Management of inventory across multiple warehouses, branches, or stores with real-time synchronization.
• Item Categorization: Organizing stock into hierarchical categories, groups, and attributes for better analysis and control.
• Critical Stock Levels: Setting minimum, maximum, and reorder levels with alerts for inventory replenishment.
• Inventory Analysis: Tools like ABC (value-based), XYZ (demand variability), VED (criticality), FSN (consumption rate), HML (price-based), and multi-criteria analysis.
• Stock Aging and Reports: FIFO-based aging reports and analyses of slow, fast, and non-moving items.
• Inventory Valuation: Multiple valuation methods such as LIFO, FIFO, and Weighted Average for financial reporting.

Inventory Masters

• Stock Item Details: Item master with HSN/SAC codes, GST rates, and detailed attributes (e.g., manufacturer, unit of measure).
• Unit of Measure (UoM): Support for simple, alternate, compound UoM, and inter-UoM conversions as per GST rules.
• Batch Control: Batch-wise inventory with tracking for manufacturing and expiry dates.
• Substitute Items: Managing alternatives for sales and purchase transactions.
• Bundled Items: Creation of combo Items and their components.

Inventory Vouchers and Transactions

• Materials Movement: Delivery notes, receipt notes, and linking with purchase or sales invoices.
• Stock Adjustments: Vouchers for losses, shortages, or adjustments.
• Stock Returns: Processes for sales and purchase returns, item replacements, and defective stock management.

Order Management

• Sales and Purchase Orders: Creation, tracking, and amendments of orders with pending order summaries.
• Workflow Automation: Seamless transitions from quotations to orders, delivery notes to invoices, and accounts payables/receivables.
• Order Fulfillment: Delivery schedules, anticipated shortages, and replenishment plans.

Sales & Invoicing

• Customizable Invoices: User-defined invoice formats with multi-currency support.
• Pricing and Discounts: Party-wise pricing, multiple price lists, date-based pricing, and discount schemes.
• Tax Compliance: Multi-rate GST, MRP-based billing, and automated tax calculations.
• Point of Sale (POS): Barcode and touch-based billing for retail environments.
• Subscription Billing: Automated invoices for subscription services with reminders for renewals.

Manufacturing

• Bill of Materials (BOM): Comprehensive BOM creation for production, including batch and process production.
• Materials Issue and Receipt: Tracking inputs and outputs during manufacturing processes.
• Production Planning: Tools for planning and managing production processes.

Inventory Reports

• Stock Insights: Reports on stock levels, expired items, stock value, and age.
• Custom Analysis: ABC, XYZ, and other inventory analyses for decision-making.
• Warehouse-Specific Reports: Detailed inventory and transaction reports by warehouse.

Customer and Vendor Management

• CRM Features: Tracking customer feedback, sales trends, and item-wise order patterns.
• Vendor Management: Monitoring purchase orders, payments, and vendor performance.
• Credit Management: Setting credit limits and tracking overdue bills.

E-commerce and Integrations

• Online Sales Integration: E-commerce platform compatibility for inventory synchronization.
• Third-party Tools: Barcode, weighing machine, and loyalty management system integration.

Miscellaneous Features

• Data Import/Export: Importing data from supplier bills or other sources and exporting invoice data.
• Reminders and Alerts: Automated reminders for overdue payments, subscription renewals, and stock alerts.
• Document Copying: Quick creation of new documents by copying data from previous entries.

Integrated Accounting Systems – Payroll Accounting – Key Features

The key functional areas and features of Payroll Accounting Module of an Integrated Accounting system, are depicted in following chart

Integrated Accounting system – Payroll Accounting Module

The key functional areas and features of Payroll Accounting Module of an Integrated Accounting system, are briefly explained below:

Employee Information Management : Centralised employee information for efficient payroll and compliance management

• Comprehensive Employee Database: Maintain detailed employee records, including pay structures, positions, and complete tenure history.
• Digital Document Management: Upload offer letters, employee documents, investment declarations, and other records.
• Employee Self-Service: Enable employees to access pay slips, update leave information, make tax declarations, and manage reimbursements online.

Pay Structure and Computation Rules : To Streamline payroll computations for accuracy and adaptability across diverse workforce needs.

• Flexible Salary Structures: Configure earnings and deduction elements for each employee, role, or branch.
• Customizable Pay Heads: Define and compute pay heads for allowances, deductions, taxes, bonuses, and variable pay.
• Automated Salary Calculations: Automate payroll processes, including attendance-based or time-based pay computations.
• Promotion and Appraisal Management: Record and implement changes in pay scales, designations, and increments.

Attendance and Leave Management : To Ensure accurate leave and attendance data integration for payroll processing.

• Attendance Tracking: Record daily or monthly attendance, including time sheets for project costing and profitability analysis.
• Leave Management: Define and manage leave types (e.g., paid, unpaid, maternity) and rules for eligibility and approvals.
• Integration with Time Devices: Import attendance data from biometric devices and time logs.

Payroll Processing and Disbursement : Simplify payroll processing and ensure timely disbursement.

• Effortless Payroll Runs: Calculate payroll and generate payslips in a few clicks, with detailed breakdowns of taxes, allowances, and deductions.
• Direct Bank Transfers: Process timely payments directly into employee bank accounts.
• Loan and Advance Management: Manage employee loans and advances, with adjustments reflected in payroll.

 Statutory Compliance : Ensure statutory obligations compliance.

• Regulatory Reporting: Generate and file statutory reports, including PF, FP, ESI, TDS, P Tax, LWF, and I Tax.
• Automated Tax Filings: Handle employee tax filings and statutory compliance requirements for reduced HR workload.
• Online Return Filing: File statutory returns directly through integrated portals.

Reporting and Analytics

• Comprehensive Pay Reports: Generate reports like pay slips, pay registers, employee ledgers, compliance reports, and summary analytics.
• Customizable Filters: Analyze pay-related data using flexible filters and tailored views.
  Objective: Provide actionable insights and simplify compliance tracking.

Integration with Accounting Systems

• Data Synchronization: Automatically post payroll amounts into respective general ledger accounts.
• Branch-Wise Payroll Processing: Manage and process payroll for multiple branches with consolidated reporting.
• Easy Data Migration: Import historical salary or previous employment data using pre-defined templates.
  Objective: Ensure seamless integration between payroll and accounting modules for unified financial management.

Employee Exit Management

• Final Settlement Automation: Process employee compensation and settlements automatically during exits.
• Exit Documentation: Send final settlement-related documents to employees’ registered email addresses.
  Objective: Simplify and standardize employee offboarding processes.

Popular Integrated Business Accounting Systems

Now we briefly discuss about the features of following popular Integrated Accounting systems

• Busy Accounting,
• Marg ERP,
• Profit Books,
• Real Books, Saral Accounts,
• Vyapar Accounting.
• Tally Prime

BUSY Accounting – Integrated Accounting System

Busy is On-premises Integrated Accounting system. A separate module to access and work on Cloud is also available. The key features are described below.

BUSY Accounting – General Controls

• Multi-Company / Multi-Financial Year.
• Pre-defined Masters for Instant Start.
• Search, Sort, Filter and Group all Screen Reports
• Reports Export (Plain File / HTML / PDF / MS-Excel)
• Printing in DOS / Draft Mode
• Reports Drill Down to Voucher Level
• Print Preview
• Graphs and Charts
• User Definable Shortcuts / Favourites Menu
• User-Configurable Documents / Letters
• User-configurable Invoice / Documents / Letters.
• User-configurable Accounting Vouchers.
• Direct E-Mail / SMS
• MIS Reports & Analysis
• Customised Documents Formats / Alignment with Pre-Printed Stationery
• Data Checklist
• Import Vouchers from MS-Excel.
• Input Form Customisation
• Custom Validations in Masters / Vouchers
• Data exchange between BUSY and other Applications
• Document Printing in Standard Format
• User-definable Warning Alarms.
• Data Freezing.
• User Role based Access Rights.
• Back dated entries Controls (Full / Partial).
• Pop-up Calculator.
• Label Printing (Accounts / Items).
• Merging of Account / Item Masters.
• Voucher Replication / Duplication.
• Criterion based Query
• Multiple Criterion Repot Filters
• Party Search by Name / Mobile / Email.
• Block / De-activate Accounts / Items.
• Import Masters from MS-Excel / Text File.
• Import Vouchers from MS-Excel.
• Images / Notes in Account / Item Masters
• Data Entry Forms Labels & Captions rename
• User-definable Columns in Reports
• Multi Language Invoice Printing
• User-configurable Invoice / Documents / Letters.
• User-configurable Accounting Voucher
• Voucher Audit
• Bind Data / User with Selective Computers
• Data Export / Import (XML)
• Direct E-mail / SMS to parties
• SQL Query Executor
• Notes / Task Manager
• Year-wise Data Back-up and Restore.
• Automatic Data Backup (Client-Server editions only)
• Collaboration tools to access Documents and Worksheets.
• Manual / Auto Data backup through Cloud, FTP, NAS Drives at data center.
• Data Migration from other Applications.

BUSY Accounting – Financial Accounts

• Company Creation & Set Up
• Accounts Master Set Up and Creation
• Accounts Voucher set up and Creation, Voucher Statistics
• Multiple Voucher Series for each Voucher Type.
• User-definable Optional Fields in Masters / Vouchers.
• Voucher Entry / Edit during Reports Viewing
• Voucher Cancellation.
• Multi-Currency Financial Accounting
• Books of Accounts.
• Balance Sheet with various Schedules.
• Open Bills Reports (AR/AP), Age Analysis of AR/AP
• Daily / Monthly Summaries of Accounts / Groups.
• Bank Deposit Slip Printing.
• Configurable Payment Reminder Letters.
• Depreciation Chart (Books/ Income Tax).
• Interest Calculation / Posting in Accounts.
• Bank Re-conciliation.
• Accounts Registers with Configurable Columns.
• Post-dated Cheques (PDC) management.
• Configurable Balance Sheet & Profit / Loss A/c
• Multi-Currency Accounting
• Cost Centres
• Broker-wise Reporting
• Royalty Calculation
• Sub-Ledgers
• GSTR Reconciliation, error correction
• GST Register, GST Summary, Party wise / Itemwise; GST Returns Filing
• TDS Reports / Registers, Returns Filing
• TCS Reports / Registers, Returns Filing
• Cash Flow / Funds Flow.
• Ratio Analysis.
• Masters / Vouchers Statistics.
• Sales / Purchase Analysis.
• Profitability Reports (on various parameters)
• Branch Operation Offline & Online, Branch / HO Data Merging.
• Branch-wise Reporting.

BUSY Accounting – Invoicing

• Sales / Purchase Order Processing,
• Sales / Purchase Returns, Replacement, Adjustment Debit Credit Notes,
• User-Configurable Invoicing
• E-way BillIssue & Printing
• Multi Rate GST Invoicing (Local / Inter State).
• Tax Inclusive / MRP Billing.
• FREE Items / Free QTY in Invoice.
• Item / Party Past Invoice Price History during Invoicing.
• PoS Multi Mode Payment
• Sales Quotations / Purchase Enquiry / Purchase Indents
• Sales Order / Purchase Order.
• Delivery Challan / Sales Invoice
• Enquiry Management (from Receipt to Closure).
• Support Management, AMC tracking, Warranty Renewals

BUSY Accounting – Inventory Control

• Multiple Warehouse
• Production / Bill of Material
• Inventory Masters, Multiple Price-List.
• Inventory Movement Vouchers,
• Multi Location Inventory.
• Stock Ledger, stock summary reports,
• Stock Valuation Methods.
• Critical Stock Levels
• Stock Ageing
• Primary, Alternate, Packaging Units,
• Batch / Mfg. / Expiry Date
• Item Serial Number,
• Item Attribute (Size, Colour etc.)
• Multiple Price-Lists, effective date
• Party-wise Price
• Item-Qty Discount Slabs
• BOM / Production Planning
• Production / Assemble / Unassemble
• Job work 

BUSY Accounting – Payroll

• Pay & Deduction Heads, Attendance & Leave Heads,
• Employee Pay Structure
• Employee Attendance & Leave
• Pay Computation,
• Statutory Reports
• Employee Loan / Advance.

Busy Mobile App : Mobile App for Android users to track accounting data on the go.

Busy Accounting Software Prices

BUSY On -Premises Software Module Prices :

Perpetual License : (One Time Payment- Rs.)

• Basic Module : Single User : 9999, Multi User : 24999,
• Standard Module : Single User : 14999, Multi User : 39999,
• Enterprise Module : Single User : 19999, Multi User : 57999,

Subscription License: (Rs per Annum)

• Blue Edition : Single User : 5999, Multi User : 14999,
• Saffron Edition : Single User : 6999, Multi User : 17999,
• Emerald Edition : Single User : 9999, Multi User : 24999,

GST Extra as applicable

Busy Software On Cloud

Busy on Cloud is aSaaS solution in secured environment on internet connected device.

Busy on Cloud Price : Standard: Rs 800, Business :  Rs 1000, Enterprise : Rs 1500 per month, Billed Annually.

Marg ERP – Integrated Accounting System

Marg ERP is On-Premises Accounting Software tailored to the Indian Business, offering specialized modules for small businesses, retail and distribution, with inventory-heavy operations. It covers areas of Financial Accounting, Inventory management, billing, GST filing, Payroll, and e-commerce integration.

Marg ERP Accounting Software  – Key features

Marg ERP Accounting Software  – System Controls

Company Creation : Company Creation & Company profile set up, Login & Password set up, Financial Year Set Up, Data Error checking and Repair, Back Up location set up, Financial Year Deletion, Switching between current and previous Financial Year. Data Restoration from Back Up. Cloud back Up, Data Auto Updation in Cloud Back Up.

User Role Set Up : User Set Up, Role Based Access Rights, Passwords,

Freezing of Data : Freezing of Specific Masters, Transaction Data upto specific date or Voucher Number in a Voucher Series, to restrict editing.

Internet access from within the Software : To collect info about Client, product, Tax etc, or any info from Internet, without closing or leaving the current working screen.

Highlight Notes : Rules for Coloured / Blinking info Transaction entry / Reports display in specific screens, for attention (like Credit limit exceeding, Expirable / Expired Items, Stock nearing minimum stock level, etc)

Inter Company messaging : Instant messaging among employees from the current working screen.

Data Import & Export : Export of Data in CSV, XML, XLS, DBF, format, and import from similar Format. Bulk Import of Off line Data in CSV & XLS files.

Messaging & email: WhatsApp / email messaging & message trails.

Mobile App Access: Access reports through mobile app.

Hot Keys : Hot keys, Exit key, Save, Apply, Cancel keys,

Menu option Search : Search option to locate the option in Menu.

Report Saving & Sharing : Digital media file saving and direct sharing through email, WhatsApp, SMS

Customisation of Input Forms and Output Reports: Customisation of Input Forms and Output Reports layout & contents, through User Defined Data elements creation.

Reports Printing : Reports printing on Printer, Reports saving in Digital Media (Excel / PDF), Cloud, Digital Reports / Cloud Links sharing in email, WhatsApp, and other messenger Apps,

Data Backup : Data Backup for Multiple Companies / Financial Years.

Marg ERP Accounting Software  –  Financial Accounting

Chart of Accounts : Multi Level organised chart of Accounts creation Account under pe defined Account Groups and Sub Groups. Restructuring of Chart of Accounts.

Master Names in Regional Language : Translation / Input in regional language. Defining Local language and respective Fonts.

Accounts Masters : Masters Accounts creation with varied info according to nature of Accounts, Account Opening Balances entry,

Expenses Budget : Monthly Expenses Budget, Limit for Single Transaction or Total for Direct & Indirect Expenses Account Groups and Accounts Ledgers, Budgets ser up and revisions, Track Expenses and Budget vs Actuals variance, warning messages..

Voucher Series & Voucher Numbering ; creation of Voucher Series, Voucher Prefix, Voucher Suffix, Voucher Series initialisation period and date.

Voucher Number Sequence: Missing Voucher Numbers, Duplicate Voucher Number, Back dated Voucher Insertion, Deletion & Cancellation.

Accounts Vouchers : Cash Vouchers, Journal Vouchers, Interest Vouchers,

Copying data from pervious Document : Data carrying from previous document for Quick entry.

Post Dated Cheques :  Issue / Receipts of Post Dated Cheques, Reflection in A/R A/P reports, Post dated Cheques and maturity report. Bank Reconciliation of Post Dated Cheques,

Bank Reconciliation : Data retrieval from Bank Portal. Bank Reconciliation.

Accounts Books & Reports : Day Books, Accounts Ledgers, Transaction nature wise Ledger Books, Accounts Summary Reports and Analysis,

Financial Statements : Trial Balance, Profit Loss Account, Balance Sheet, Cash Flow, Funds Flow,

Fixed Asset Schedules : Assest Records with Depreciation Rules set up. Assets Register, Fixed Assets schedules with Original Value, Depreciation, Depreciated Value.

Payment Mode : Payment Mode set up for each Client, Multiple Payment mode,

Interest Computation : Ledgerwise Interest rate set up, Interest Computation, Interest Set up for each Bill Receivables, Due Date, Credit Days, Interest for delayed payment, Accrued Interest for Overdue Receivables, TDS Rate on Interest,

TDS : TDS Set Up, TDS Deduction, TDS payment, TDS Returns

Outstanding Reports : Accounts Receivable & Payables for Bill wise details, Age Analysis Slab set up, Slab wise Outstanding Reports, Age Analysis Summary,

Financial Analysis : Dash Board of key Financial Figures and Ratios,

Cash Flow : Operating Cash Flow, Investing Cash Flow, Financing Cash Flows.

Financial Year End Process : Closing of previous accounts, Previous Year Closing balances carrying to next Financial Year. Previous & New Financial year simultaneous operations. Locking of Previous year Accounts.

Marg ERP Accounting Software  –  Inventory  Accounting

Inventory Masters  

• Store / Warehouse Master: Multiple Stores. Virtual Multi Tier Stores organisation through Floors, BIN, Stores Blocking for Inventory verification.
• Stock Item Master : Complete Particulars of Item, manufacturer Master linking with the Stock Item, Storewise Stock Item Open Balance. Batch ID with Mfg & Expiry Dates
• Unit of Measure : Simple Unit of Measure, Alternate Unit of Measure, Compound Unit of Measure, UoM as per GST rules. Entry of UoM in transactions, Inter UoM Conversion,
• HSN Master: HSN / SAC Short Name with Codes (in 2,4,8 digits) for the Stock Items used, and linked with Stock Items. Details of GST Rates.
• Bundled Items: Bundled Items (Combo Items) and Components Masters.
• Substitute Materials : Items of same nature classification
• Inventory Reports: Inventory Levels Set Up, Inventory Valuation Methods set up for Stock Groups / Stock Items / Entire Inventory, Inventory Valuation Methods for Financial Reports, Inventory Valuation reports. Godown / Batch Stock reports, Expiry Date Stock Reports, Expirable Items Stock Reports, Ageing Stock Reports. Return of Expired / Defective Items to Supplier, Replacement of Expired / Returned Defective Items.

Marg ERP Accounting Software  –  Sales & Invoicing

• Salesman Master : Creation of Salesmen and linking in Orders, Invoices, sales man wise  detailed and analytic reports.
• Area Master : Areas of operation of Business, to get Areawise Sales analysis of salesmen.
• Route Master : Create Master to set the standard Route of movement of sales people for efficient marketing and receivables collection from Debtors.
• Country Master : Create list of countries, with Country Particulars, in which the organisation conducts business, to get Country wise Reports and Analysis
• State Master : Create list of States in which the organisation conducts business, to get Country wise Reports and Analysis.
• Price List Master : Party Categorisation for Price & Discount, Different set of Prices of Items, Item Prices for Parties, Datewise rate / Scheme, Free Item on Bill Value,
• Discount Master : Discount / Special rates for Parties / items, Maximum Discount set up in Item Master, Bill Value Slab / Discount Rate, Point System set up and Discount / Redemption of Points,
• Sales Schemes Set Up : Set up schemes rules and invoicing as per scheme rules,
• Sale Boosters : Stock Item tagging for Stock Clerance sale, New Item Launch, Special Scheme,
• Credit Limit : Credit Limit for Parties,
• Reminder Set Up : Auto Reminder set up for  Due Date, Overdue Bills,
• Masters Check List: Master Check Lists in user defined format

Sales Invoicing

• Multiple Price and Discounts Lists
• Cash Memo, Delivery Challans, Invoice
• Sales Return & Replacement on Sale Bill
• Salesman / Route / Area Wise Bills & Reports
• Indication for Min, Max, New / Old Rate & Expiry
• Previous bills history during Billing
• PoS Invoicing
• Import data from suppliers Bill

Subscription Billing : Auto created billing for subscription based services. Entry of subscribers, subscription receipts, renewals, tracking, reporting and management of Subscribers data.

Inventory Vouchers : Materials Delivery Notes, Materials Receipt Notes, Materials Sales Invoice, Materials Purchase Invoice, Linking of Materials Delivery & Receipt Notes with  Materials Sales and  Purchase Invoice, Purchase Materials Return Out, Sales materials Return In, Debit Notes and Credit notes for Retuned materials, Debit & Credit Notes for Rates and other Accounts Adjustments, Materials Shortages, Materials Losses, Materials Delivery Note / Packing Slip Printing. Stock Transfers,

Stock Returns: Return of Sold Items, Replacement of Returned Item.

WorkFlow set up : Stepwise work flow from Enquiry Quotation to fulfilment of Order, From Invoicing to complete accounts clearance, from materials issue to receipt of finished products through intermediate manufacturing stages. 

CRM Features : Basic features of customer relationship management, like Customer Visits, Customer  feedback, customer sales trends, Itemwise sales tracking, order frequency chart, etc, Special offer of clearance sales of outdated, non moving old stock, expiring stocks,

Cash Discount  : Cash Discounts schemes and accounting for early or timely payment.

Marg ERP Accounting Software  –  Manufacturing

• Manufacturing Process: Manufacturing / processing of Items with Input and Output details. Stock adjustments of Consumed and Produced Items. Re processing of Items.
• Bill of Materials : Bill of Materials for Production Items, Issue of Input Materials and Production of Output Materials vouchers using Bill of Materials. Batch / Process Production, Materials uses variance for Batch Production.

Marg ERP Accounting Software  –  GST Accounting and Compliance

• Company GST Set Up : GST registration & related details se up for the Company
• GST and Cess Rate set up : Company Level, HSN/SAC Code, Item Level, Category Level, Stock Group level, GST Computation Basis (Ad valorem, Quantity, Price Slab), GST Nature (Non GST, Exempted, FREE Items),
• Stock Item GST Details: HSN/SAC Code, GST Rate.
• GST Invoices & Billing : GST Compliant Invoice Generation, Bar Code. Auto validation of Buyers / Suppliers GSTIN
• E-Invoicing : e-invoice authenticated by Invoice Registration Portal (IRP). 
• E-way bill : Single, Multiple & Bulk e-way bill, directly upload on portal.
• Party data Collaboration : Data transfer between the vendor and customer through GSTIN / e-Code.
• GST Reports : GST related transactions Direct posting toGSTN portal in Excel, JSON or CSV Format.
• GST Return Filing : File GSTR 1, GSTR 2, GSTR 3B, GSTR 4, GSTR 9 directly from the software.
• GSTR 2A Reconciliation : GSTR-2A purchase bills auto download. GSTR 2A reconciliation.
• GST Payment : Input & output tax & RCM Adjustment. GST Payment.

TCS :  TCS Set Up, TCS Billing, TCS payment, TCS Returns

Marg ERP Accounting Software  –  Payroll Accounting

• Employee Profile : Employee Particulars, Departments, Designation, Pay Structure
• Attendance & Leave : Attendance, Leave, Overtime, Production,
• Payroll Processing : Auto computation of Pay / Deduction Heads, Posting to Financial Accounts.
• Pay Reports : Pay slips, Pay Registers, Pay Summary Reports, Employee Ledgers
• Statutory Compliance : Returns and Payment to respective Authorities, like Provident and Pension Fund,  Professional Tax, ESI, LWF, Income Tax Deduction etc,.
• Data Migration: Export Reports to Excel / Other Applications, Import Attendance and other Data from external applications
• Employee History & Positions : Chronological record of changes in Employee profile for the entire employment tenure.
• Employee Exit Management : Final settlement of Pay, Bonus, Gratuity and other remuneration.

Marg ERP Software Modules & Prices

Marg ERP Software is available in 3 different Features & Price Modules

• Basic : Rs. 9999 for 1 User Full Rights (₹ 3000 per extra user. Maximum 2 users, ₹ 3000 per extra Company.  Maximum 2 Company), covering following functional & operational areas
• Standard :  12600 for 1 User Full Rights, 1 User for View ( ₹ 3000 per extra user ₹ 3000 per extra Company)
• Gold : Unlimited Users, Unlimited Companies.

Profit Books – Accounting Software

Profit Books is Cloud based Accounting software covering Financial Accounting, Invoicing & Inventory & Payroll. The key features are described next.

Key Features

Profit Books – Accounting Software General Controls

• Company : Company Profile, Company logo, Preferences Settings, Branches,
• Devices Integration: Multiple Platforms & Devices, Operating systems, Printing Devices, Scanning Devices, Cash Drawers,
• Reports Printing & Sharing: Hard copy Printing, saving & sharing in digital format,
• Messaging & Communication : Messaging, Report and information sharing like e-mail, SMS, WhatsApp, and other channels, directly from within the application through email
• Users Access Controls : Role based multiple users with specific access rights. Multiple Users, Role-based Access, Auditor Access

Profit Books – Financial Accounts

• Financial Accounting : Chart of Accounts, Project-wise Categorisation, Payment Gateway Integrations
• Transaction Entries : Transaction recording under accounting head & categorization for Proper Accounting Analysis and reporting.
• Multiple Currency : Accounting transactions in multiple currencies, Exchange Rate fluctuations, Forex gain Loss Accounting,
• Banking : Import Bank Statements, Auto & Manual Bank Reconciliation, Payments & Receipts through Payment Gateways.
• Accounts Receivables: Accounts Receivables Tracking, Due Date amendment, Receivables Schedules, Ageing Analysis,
• Accounts Payables: Accounts Payables Tracking, Due Date amendment, Payables Schedules, Ageing Analysis, Vendor Payment workflow from Accounts Payable,
• Accounting Reports : Accounts Books & Summaries, Ledger Accounts, Balance Sheet, Profit & Loss, Cashflow,
• Audit Trail : Trail of Records of masters & Voucher Alteration.
• Tax Compliance: Taxation Reports (TDS, GST, TCS)

Profit Books – Purchase Accounts

• Purchase : Purchase Order, Pending Purchase Order Tracking, Purchase Order Amendment, Materials Receipt, Purchase Invoice linking to Purchase Order & Materials Receipt, Inwards Delivery Schedule, Purchase Invoice,
• Vendor Management : Track and manage vendor details, purchase orders, Materials Receipts, payment histories. timely payments, Email vendor statement, Convert Purchase Orders to Materials Receipts, Purchase Invoice,

Profit Books – Sales Accounts

• Sales Orders : Sales Quotations to Anticipatory and Customer Enquiries, Sales Orders, Pending Sales Order, Delivery schedule, Orders amendment, Customer Advance,
• Invoicing : Customised Invoice Format and contents set up, Invoice Numbering scheme, Multi-currency Invoices, Sales Analytical reports for Sales Tracking. Payments links in the Invoice, Online Payments receipts from Debtors, Automated Reminders for Open Accounts, aging reports on outstanding dues.
• Customer Management : Customer Statement of Sales Order, Sales Invoice, Money receipts from Debtors, Workflow from Quotations to Orders to Materials Deliveries to sales Invoice to Accounts Receivables to Debtors Outstanding.
• GST : GST Invoicing, e-way Bill.

Profit Books – Inventory Accounts

• Stock Items : Stock Item organisation into hierarchical Stock groups & categories, Multi level Virtual & Physical Warehouse, Item Attributes, Item Batch Mfg. & Expiry dates, Alternate & Compound Unit of Measure, Minimum, Maximum, Re-Order Stock Levels,
• Manufacturing : Bill of Materials, Materials Issues to process, Materials Production from process, Stock Transfers,, Stock Losses & gains, Stock Adjustments,
• Inventory Control: Stock Reports, Stock Summary & Stock Analysis, ABC Stock Controls, Slow, Fast & Non Moving Items, Stock Scrapping & Disposal,

Profit Books – Payroll Accounts

• Payheads Setup: Set up each employee pay Heads for earnings and deduction elements
• Define salary structure : Define Pay Structure of each employee with computation rules
• Attendance & Variable Pay : Recording of Attendance, Leave with Pay and Without Pay, and variable Pay details for each employee, for the respective Pay Period
• Payroll Processing : Calculate all Pay and Deduction heads amount for each employee for the respective Pay Period. The amount of each pay head is posted into respective general Ledger Accounts.

Profit Books Accounting System Pricing

• FREE Start Up Module: Create professional invoices in multi-currency, track receivables, manage business expenses and get tax report- Single User. Create Upto 25 Invoices Per Month, Manage Upto 100 Customers, Track Upto 25 Products or Services. Start for Free, upgrade to SMB later. So, Start Up module is practically a FREE Trial module.
• SMB Module : All features – Rs 749 per month. Supports Unlimited Users with unlimited individual access, Create Unlimited Invoices, Manage Unlimited Customers, Track Unlimited Products or Services.

Profit Books Accounting – Mobile App

ProfitBooks Mobile App for Android & iOS may be downloaded free. It does not collect or share any data with third Parties. The data is encrypted in transit. User may request the Data to be deleted.

Profit Books Accounting – Remote Book Keeping Service

Profit Book helps Accounting Freelance Service to provide remote on line service to clients. Business organisation having small space and no spare technical person or expert Accountant may outsource the accounting process to freelance accountants

Business organisation will view the reports, at any time, from any place, using any Internet connected device (Desktop, Laptop, Chromebook, Smartphone, Tablet, or other compatible device)
The service is FREE for one month.

Business organisation will routinely enter/ upload the data and scanned documents on Cloud Google Drive) with secured access to Service Providers.

Accounting Service Providers will download all data / documents through their secured access, capture the data in software, process the reports and store them in Cloud in organised manner

Real Books – Accounting Software

RealBooks Accounting Software key features

RealBooks is a cloud based Accounting Software.

• Brach Accounts Management : Multiple Branches Accounting, Branch Integration, Real-time Branch data consolidation, Branch Reconciliation.
• Data Import / Export : Bulk import in predefined formats, raw bank statement uploads, customized Excel formats. data migration and export in Excel, PDF, CSV,
• Management Reports : Segment Analysis Report, Columnar Comparative Reports, Cashflow & Cost Center Report
• Compliance Management : Multiple GSTINs, TDS return Filing via excel and API, GST e-Way Bill / e-Invoice generation
• Document Management : Attach documents with masters & transactions, Unlimited Cloud Storage, Document Upload Report
• Customer & Vendor Management : Customised Bill Ageing Analysis, Due Bill notification, Customer Credit Limit & Credit Period, Bill Wise Status Tagging.
• Banking : Cheque auto-configuration, Cheque  printing, bank integration payments, bank reconciliation.
• Inventory Management : Stock Aging, Valued Stock Report, Order Management, Multiple Pricelists
• Accounting Reports : Accounts Books, Sale & Purchase Reports, Financial Statements
• Role-based User Access Control : Role Based User Permission & Rights, Back-dated Operations Control, customizable approval hierarchies, workflow Notifications & Alerts.
• Data Security : Hosted on Amazon AWS Servers with Top Data Security, Bank grade 256 bit encryption, Multiple Levels Data Back Up.

RealBooks  HR –  Payroll Accounting Module

 RealHR is a separate cloud-based Payroll Solution, integrated with Online Accounting Software

RealBooks  Mobile App

 Access Real Books Accounts on the go, with Mobile App, for anywhere, anytime accounting.

RealBooks Accounting System – Pricing

 Free 14 Day Trial, Professional – Rs 500 per month per user, Business : Rs 1000 per month per user, Enterprise : Rs 2000 per month per user

Saral Accounts – Accounting Software

Saral is On-premises Financial Accounting cum GST Compliant Invoicing Software. It does not offer any cloud or Mobile operation module.

Saral Accounts – Key Features

• Financial Accounting : Chart of Accounts, Accounts Vouchers, Accounts Reports), Voucher Entry Templates, Bank Reconciliation, Cheque Printing, Cheque Deposit Slip, Post dated Cheques,
• Ordering,: Purchase Order, Inward Materials Receipts, Rejection and Returns, Multiple Price Lists, Multiple Sales Discounts schemes,
• GST : GST Sales Invoicing, e-Invoicing, GST Purchase, GSTR 2A Reconciliation, Input Tax Credit, Reverse Charge Mechanism, E-Way Bill, GST Reports & Returns Filing.
• Service Invoicing : Multi level Service Job masters, Service Order, Multi-Service Invoice, Recurring Service Invoice, Reverse Charge Mechanism,
• Invoicing : TCS Invoicing, Sales Reports, Debit Credit Notes,
• Inventory: Stock Reports, Bar Codes,
• PoS: Customer Loyalty Points, Multiple Counter Billing,
• TDS: TDS Accounting, Reports, Return Filing
• Warranty / AMC: Warranty, AMC Management, AMC Auto Renewal
• Other Features: Group of Companies, Sales Scheme Management, SMS, WhatsApp, email Integration, User Security Control, Data Migration & Sync, Mobile Integration
• Auditor Module: Data Synchronisation with Audit System, Remote Audit Operation
• Dashboard : Central dashboard showing key financial position.

Saral Accounts – Key Modules & Pricing

• Saral Bronze :  Price : 7500 for Single User, 15000 for Multiple User.
• Saral Silver : Price : 15000 for Single User, 20000 for Multiple User.
• Saral Gold : Price : 12000 for Single User, 25000 for Multiple User.
• Saral Diamond : Price : 25000 for Single User, 35000 for Multiple User.

Saral Accounts  Business Modules

Saral provides following distinct set of functional Modules, separately priced.

• Financial Accounts : Comprising Saral Accounting , Saral Billing.
• Payroll : Saral paypack, Saral ePF ESI,
• Tax and E Filing : Saral RDS, Saral Tax Office, Saral Income Tax, Saral GST, Saral XBRL, Saral TDS Web, Saral FinTrac, Saral Sign

Saral Paypack : Payroll Accounting

Saral Paypack is a separate Payroll Management software,

• Employee Profile : Employee profile, Increments, Promotions, for entire tenure period.
• Pay Structure : Pay & Deduction heads, computation rules.
• Attendance and Leave management : Attendance and the leave details of the employees.
• Statutory Compliance : All the statutory requirements like PF, ESI, PT, TDS, reports and online return filing to the respective portals.
• Pay Reports : Pay related reports like Pay Slip, Pay Registers, Employee pay ledgers and summary reports
• Employee Self Service: Employees can update leave information, reimbursement information, Tax related declaration, online.

Vyapar Accounts – Accounting Software

Vyapar Accounting Software – Ket Features

Vyapar is On-Premises Integrated Accounting Software providing following features and Functionalities

• Chart of Accounts : Hierarchical organised multi level structure of Chart of Accounts.
• Accounts Transactions : Data entry of regular transactions classified as per nature of transaction
• Accounting Books Reports :  Journal Day Books, Accounts Ledgers, Accounts Summary Reports,
• Financial Reports, Financial Analysis Reports. Trial Balance
• Accounts Books : Accounts Ledgers, summaries & analysis, Trial balance
• Financial Statements : Profit Loss Statement, Balance Sheet,  conforming to IAS (Indian Accounting standard).
• Accounts Receivables & Payables : Accounts Receivables & Payables Reports, Reminders for Due and Overdue Bills, Cash flow of Payments and Receipts to Debtors / Creditors,  Cash positions forecasts, Cash surplus and shortfalls triggers / alerts .
• Multi-Currency : Base and Foreign currency, currency exchange rates, Reports in Foreign and Base Currency, Forex gain Loss Accounting.
• GST : GST Set up, HSN/SAC code integration, Invoice generation, GST Reports and filing GST Statutory Returns. 
• TCS : TCS Computation in Invoices, TCS Accounting and Statutory Reports complying to TCS Rules
• TDS : TDS Computation and Deductions, TDS Accounting and Statutory Reports complying to TDS Rules
• Stock and Inventory : Creation of Inventory Masters, Inventory Transactions, Stock Reports.
• Order Management : Purchase and Sales Orders, Orders fulfilment, Open Orders Management, Orders Modifications.
• Data Import from Tally : Data Import / Export To and from Tally
• User Role Management : Sets user access and operations rights to maintain responsibility and integrity of data.
• Customised Documents Formats  : Pre created model invoice formats for quick and easy design of  Documents Formats  and customisation as per needs and choice.
• Collections Management : Accounts receivables details, Analysis and control.
• Revenue Maximisation : Sales Forecast, sales analysis in various parameters, Sales boost and profit maximisation strategy.
• Business Performance and Financial Health: Track sales trends,cash flows, open orders, payment updates, due date reminders. Dash board to show the key info and action plans.
• Updated Status : current bank status, stock and inventory status, open orders, cash flow and other requirements online.
• Online and Offline Access : On line module also allows off line operations without Internet connection and auto update on Internet connection (useful in remote / weak Internet area).
• Payment Options : Integration with various Payment Gateways likeUPI, QR, NEFT, IMPS, e-wallets and credit/debit cards etc, embed QR Code in Invoice
• Data Backup: Automated data backup on every data update instance. Additional Local Back Up
• Brand Logo : Logo maker to create business logo.
• GST Compliance : GST compliant Item HSN/ SAC code, e-way Bill, Delivery Notes, Invoice, e-Invoice, GST Returns (GSTR-1, GSTR-2, GSTR-3B, GSTR-9 and GSTR-4) filing, GST payments and upload on GST portal.
• WhatsApp Integration: Documents sharing, money transactions, messaging, chats, through WhatsApp. Integration with Business WhatsApp.
• Role Based User Rights: Users creation and Role based Access Rights.
• Hardware Integrations : Diverse hardware Integration like barcode scanners, QR Code scanners, Smartphone Bar Code and QR Code scanning Apps, thermal printers, cash drawers, multiple printers like  DMP, Inkjet, laser Printers, through wire & remote connection. Operating system like Android, iOS, Windows, Mac, devices like SmartPhone, Tablets, Desktops, etc, Integration with various common software tools & utilities.
• Godowns/Stores : Physical and virtual organisation of multiple storage location, Materials movements and Inventory.
• Inventory Management : Consolidation of stock. Stock  movement analysis, fast, slow & non moving Items, Inventory Analysis like ABC (based on Stock Value), XYZ (based on demand variability), VED (based on criticality to operations), FSN (based on consumption rate), HML (based on unit price), SDE (based on supply/ demand), and multi-criteria analysis (combining multiple factors e.g demand and value). Stock Levels like Minimum, Maximum, re order and alert set up for each level.
• Automated Payroll Calculations: Automated employee salary calculations, deductions, and other payroll-related tasks, through Vyapar’s payroll module.

• Order Management : Sales and Purchase Orders, Materials Arrival and Delivery schedules, Anticipated Shortages, Stock Outs, replenishment plan. Open Orders, Auto Reminders and messaging for pending deliveries.
• Work Flow : Document conversion workflow like, Payments for Accounts Payables, Receipts from Accounts Receivables, Sales Orders from Quotations, Purchase Orders from Indents, Stock status reports, sales Invoice from Sales Delivery Challans, Goods Receipt Notes from Purchase Orders, etc.,

Vyapar Accounting Software  Pricing

Silver – Rs 3239, Gold 3599 – per year for small users. Additional cost for Large User modules.

Vyapar Accounting Vyapar Free App for Mobile

Vyapar app for Android devices, downloadable at Google Playstore, is free for a lifetime. Supports devices like Smartphone, Chromebook, Tablet.

• Data Privacy: Vyapar Mobile app may collect Personal info, Contacts  and other info, App activity, Share App info, App activity &  performance, and Device or other IDs with third parties. Data is encrypted in transit. User may request for Data to be Deleted.
• Features : It enables to Track Expenses, create Invoice, manage Online Store, maintain stock inventory, generate GST Reports, supports printing from Mobile.

In Free App, the Vyapar Logo is embedded. In premium version of App, the Vyapar Logo is removed, data may be synced in multiple devices (license to be bought for each device).

Tally Prime – Accounting Software

Tally Accounting Software is recognized as one of the most established accounting solutions, boasting a substantial user base for nearly four decades. So, we delve into some more details into Tally, than other software discussed in previous sections, to provide more insights, for large current users and potential customers.

Over the past four decades, Tally has built a large user base. Its initial popularity among business communities can be attributed to innovative features tailored to the specific needs of Indian businessmen, which are often not addressed by other accounting software or textbooks.

Tally is an on-site integrated accounting system, that includes essential features such as financial accounts, invoicing, inventory control, GST compliance, and Payroll accounting, all in one package.

Overview of Tally Prime Accounting System

In contrast to many other software solutions, that offer various versions with distinct pricing, Tally is presented as a comprehensive On-Premises package, encompassing all features and modules. It is available in both single-user (where only one user can operate at any given time) and multi-user (allowing multiple users to work simultaneously) configurations.

Tally Prime Integrated Accounting System – Functional Areas

While Tally is offered as a unified package, it can be broadly categorized into several functional areas, including the core General Ledger System and optional modules such as accounts Receivables and Payables, Invoicing and Inventory, and Payroll Accounting. These functional areas can be activated or deactivated as needed, allowing users to customize the system to meet their specific requirements.

Tally Prime Integrated Accounting System – Core Controls

• Multiple Companies : Multiple Companies (Organisation Accounts) creation with general common set of Chart of Accounts, irrespective of organisation trade, or constitution.
• Chart of Accounts: All user created accounts must be organised under rigid structured Tally Pre configured Reserved Chart of Accounts (which cannot be restructured by user).
• Defined Voucher Types: Specified Voucher Types auto created by Tally, creation of peer voucher type, but new voucher type, with user defined criterion or rules, not allowed.
• Dashboards: Central Dashboard showing consolidated financial metrics with drill-down capabilities for granular details.
• Accounts Inventory Integration : Optional Stock value link of Financial Accounts with Inventory, or independent user specified stock value input.
• Emails :E-email set up and email of documents and report from with the system.
• WhatsApp : Conditional access to allow WhatsApp set up and sharing documents through WhatsApp,
• Voucher Series & Voucher Numbering ; User defined multiple Voucher Series, Voucher Prefix, Voucher Suffix, periodic number re-initialization. Duplicate Number, Number skipping and reuse, Automatic number re-sequencing, Back dated Voucher Insertion, Modification, Deletion & Cancellation. Back dated voucher entry controls.
• Voucher Duplication : Voucher Duplication for similar / repeating transaction.
• Menu option Search : Menu Option Search .
• Reports Printing : Reports printing on Printer, saving in Digital Media (Excel / PDF),
• Data Import Export : Data mapping tools to import from, and export to, external applications with  diverse data formats,.
• Data Management : Data Back Up in user specified media, Data Restore, Auto Back Up in Server module only.
• Role-based user rights: Role based user rights set up at action level, through a complex interface.

Tally Prime Integrated Accounting System – Financial Accounting Functions

• Budgeting and Financial Controls : Rudimentary Budget features to enter user specified Budget for Ledger Accounts, Account Groups and Cost Centres, Financial Projection (Scenario). No parametric formula or rules for Budget computation. Budget and actual variance reports.
• Cost / Profit Center: Multi Level Hierarchal Cost Centres and Cost Groups. Tagging of transactions with cost elements for Cost analysis reports.
• Audit Trail : Audit Trail report showing ID of altered transaction. Pre Alteration or Deleted records not preserved. Alteration reasons, approvals, notes not maintained to refer back for probe.
• Financial Reports: Profit and Loss statements, Balance Sheets
• Currency : Multiple Currency Set Up, Currency Conversion, Forex Gail Loss Accounting
• Bank Reconciliation : Data retrieval from Bank Portal. Auto & manual Bank Reconciliation.
• Accounts Reports : Day Books, Accounts Ledgers, ledger analysis, Accounts Summary Reports,
• Financial Statements : Trial Balance, Profit Loss Account, Balance Sheet,
• Cash & Funds Flow, Cash & Funds Flow reports showing Receipt / Payment; Working Capital change; Operating Cash Flow, Investing Cash Flow, Financing Cash Flows not available.
• Financial Analysis : Dash Board of key Financial Figures,  Ke Performance Ratios,
• Post Dated Cheques :  Issue / Receipts of Post Dated Cheques, Reflection of Post Dated Cheques in A/R A/P reports,
• Interest Computation : Ledgerwise / Billwise flexible Interest Rate, Interest Receivable & Payable,
• Outstanding Reports : Outstanding Reports of Receivable & Payables with Bill wise details, Age Analysis Slab set up, Slab wise Outstanding Reports, Age Analysis Summary,

Tally Prime Integrated Accounting System – Materials Accounting Functions

• Inventory Activation & Set up
• Inventory Masters, Godown, Batch,
• Orders, Orders Outstanding
• Materials Delivery & Receipt
• Sales & Purchase Vouchers, Invoicing,
• Physical Stock Adjustments,
• Inventory Reports
• Inventory Valuation
• Manufacturing,  Assembling, Unassembling,
• Job Work In, Job Work Out,

Tally Prime Integrated Accounting System – Payroll Accounting Functions

• Payroll Activation & Set Up
• Pay & Deduction Heads, Employee Master, Pay Structure
• Attendance, Production,
• Allowances & Deductions,
• Payslip, Pay Advice, Paysheet, Pay Registers, Pay Reports
• Bonus, Arrears, Overtime, Leave Pay, Gratuity,
• Payroll Statutory Reports
• Employee I Tax Liability / TDS Computation

Tally Prime Integrated Accounting System – Tax Accounting Functions

• TDS Accounting
• TDS Activation, Masters TDS set up, Vouchers, TDS Deposit, Statutory Returns
• TCS Accounting
• TCS Activation, Masters TCS set up, Vouchers, TCS Invoice, TCS Deposit, Statutory Returns
• GST Accounting
  • GST Activation & Set Up, Regular & Composition Dealers,
  • GST Set Up for UoM Master, Stock Group, Stock Item,
  • GST Classification, HSN, Supplier & Customer,
  • Tax Invoice, Bill of Supply, e-way Bill,
  • Input Tax Credit, Reverse Charge, 
  • GST Reconciliation, Issues & Troubleshooting
  • GST Payments & Accounts Adjustment
  • GSTN Portal Data Upload, GST Returns filing, 

Tally Prime Integrated Accounting Software- Exclusive Features

Accounting System aims to generate accurate financial records while adhering to business practices and regulations. However, Tally distinguishes itself by offering unique features that enable creation of user curated accounts. Some of them are briefly pointed out for user information and awareness.

• Post Modification: Allows reconstruction of accounts through transaction modification dynamically from Reports, even after compiling final accounts, facilitating user curated accounts as desired.
• Voucher Numbering: Tally allows unusual methods like Voucher number skip, re-use, insertion, renumber etc, which may lead to manipulations.
• Closing Stock Value: Unlike traditional methods, Tally records Closing Stock Value on the fly, impacting Profit & Loss and Balance Sheets, to facilitate Accounts curation.
• Stock Valuation Methods: Stock Value can be manipulated by dynamically changing Valuation methods, without reporting deviations in valuation method.
• Inventory Value: Inventory value can be effected independently through Stock Journal entries without supporting accounting effects.
• Data Hiding/Restoration: Tally allows selective hiding of report items, leading to potentially misleading reports.
• Physical Stock Voucher: Users can adjust stock quantities without journal entries, affecting stock manipulation & stock valuation.

Tally intends to offer some unique features & flexibility, but these pose risks to integrity, ethics, and security in accounting practices.

Tally Prime – The Legacy Accounting Software System

Tally is legacy software System. The term “Legacy software” is used for “outdated computer systems, applications, or technologies, that are still in use”. Legacy software is sometimes difficult to avoid and replace, because of its wide and long use. However, Legacy software is too slow, or too late to embrace benefits of changing new technology.

Due to technological limitations, essential features such as Workflow Automation, Graphs, Custom Fields in Forms and Reports, Document and Reports customization, etc. available for long, even in low-cost contemporary software, are still absent in Tally.

Tally Prime – Limitations

• Focus on Reporting: Primarily generates accounting reports without actionable insights for business efficiency.
• Graphs and Charts: Lacks advanced graphical representations; only basic bar and line graphs available.
• Column Sorting: Limited sorting options; no multi-column sorting.
• Checks and approvals: Instant saving of voucher on entry, without checks and approvals stages. Lacks internal checks and controls.
• Actionable Workflow: Requires re-entry of data for related processes; no workflow synchronization to move to next stage document carrying data from previous stage. .
• Notifications and Alerts: Many critical deviations or exceptions not alerted during data input. Automated messaging or reminders lacking.
• Input Forms: Primitive design; cumbersome navigation and poor visibility; lacks customization options.
• Budgets: Manual Budget figures input. Dynamic user-defined parameters and computation rules not available, to compute or revise budgets.
• Auto Data Backup: Auto Back up available in Server module only.
• Mobile Access: Limited report retrieval capabilities.
• Chart of Accounts: No model charts for different trade / industries, legal structure. Pre defined rigid account structure.
• Earnings Analysis: No pre defined Account groups for Depreciation, Amortisation, Finance Charges, Interest, etc, to auto evaluate key earnings performance, like Pre depreciation Profit, OIBDA, EBT, EBIT, EBITDA, et al.
• Voucher Controls: No tools to track, control or identify missing, duplicate, or non sequential voucher numbers.
• Pre-Edit Data: Deleted data not retained; pre-edit data of edited records not traceable.
• Customization: Limited to predefined Configuration options; No custom templates, user defined fields for precise customisation of Input Forms, Documents & Reports, as desired by users.
• Payment Modes: No option for client specific pre defined multiple payment modes.
• Report Saving: Reports directed to printer by default. Instant saving in digital format (like PDF, XLS) are complicated.
• PoS System: Rudimentary PoS features. Lacks sales promotions, loyalty programs and other PoS features.
• Manufacturing : Very basic manufacturing journal, Bill of Materials. Process Master, Manufacturing Stage, inter-process transfers, and multi stage manufacture features are missing.
• Fixed Asset Schedule: Fixed asset schedule forming part of Balance sheet not generated. Inadequate fixed asset reporting; lacks detailed schedules of Assets acquisitions, disposal, depreciation details, Original Cost & WDV .
• Chart of Accounts: Deviates from standard structure in some respects, often requiring reorganization of Tally created Balance Sheets.

Tally Prime – Price

• Single user (Silver Edition) 22500 one time license fee. Monthly rental 750 / month
• Multi user (Gold Edition) :67500 one time license fee. Monthly rental 2250 / month

Tally Prime Accounting Software – Conclusion

The decision to implement a legacy system such as Tally, or to opt for a contemporary system as outlined in this book, is contingent upon the specific objectives of the organization. Tally is proficient in generating wide array of reports, derived from user input and historical accounting transaction data. However, it falls short in some critical areas, such as workflow automation, input forms, documents and reports customisation, business planning, budgeting, actionable reporting, alerts, sharing and communication of data and information.

If accounting records maintenance is the primary concern, Tally may be a suitable option. Conversely, if the focus is on enhancing efficiency in business management, manufacturing capabilities with stage-wise process control, or robust internal security, coupled with streamlined workflow features, it may be prudent to consider other contemporary cloud-based or on-premises systems previously discussed.