Tally for Beginners: Everything You Need to Know Before Learning TallyPrime

Tally is accounting software that helps businesses manage accounts and daily business operations. Before learning TallyPrime, it is important to understand the basics of Tally and how the software has evolved over the years.

Getting familiar with Tally's fundamentals helps in understanding its development and business management capabilities. Here we explain details about Tally's history, founder, software versions, key features, advantages, limitations, and commonly used shortcut keys.

What Is Tally?

Tally is business accounting software. It brings together many business operations in one place. These include sales, finance, purchasing, inventory, and manufacturing. Because everything is connected, Tally gives businesses accurate and up-to-date information. Owners and managers can check this information from anywhere, which helps them make quick decisions.

Who Created Tally?

Tally Solutions Private Limited was founded in 1986. S. S. Goenka was its founding chairperson. Bharat Goenka is the Co-Founder and Managing Director of the company. He has received the Lifetime Achievement Award from NASSCOM, as well as a Lifetime Achievement Award from CellIT, an IT channel magazine.

Also Explore our Course : TallyPrime Advance with GST Accounting (Tally Certification)

How Tally Has Changed Over the Years?

Tally has changed a lot since it was first introduced. Every new version added useful features to make accounting and business management easier. Over the years, it expanded from basic accounting to include taxation, payroll, remote access, and many other features. 

The table below shows the major Tally versions and their key updates.

Knowing this history helps beginners understand why Tally Prime looks and works the way it does today.

Advantages of Tally ERP 9

Tally ERP 9 offers features that make accounting and business management easier for users. Its simple setup, low system requirements, and support for different business needs have made it a preferred accounting solution. Some of its key advantages are listed below:

• Low cost and easy to set up - It has a low cost of ownership and can be implemented and customised easily.

• Works on multiple platforms - It runs on both Windows and Linux, and can be installed on many systems.

• Needs very little space - Installation uses minimal disk space and is a simple process.

• Built-in backup and restore - All company data can be backed up to a single folder on a local disk.

• Supports many protocols - This includes HTTP, HTTPS, FTP, SMTP, and ODBC.

• Multi-language support - Tally supports several languages, including nine Indian languages. You can enter data in one language and generate invoices, purchase orders, or delivery notes in another.

Limitations of Tally

Like any accounting software, Tally also has certain limitations that users should be aware of. These limitations may affect its use in some business situations. The main limitations of Tally are listed below: 

• Works mainly as a single-window user system.

• Some upgrades are not very impactful for users.

• Not always ideal for businesses with many branches.

• Can lack flexibility in certain situations.

• Limited central support.

• Lower security compared to some other solutions.

• No customisation options.

• Some risk of data loss or unauthorised access.

Useful Tally Shortcut Keys

Tally provides shortcut keys that help users perform common tasks more quickly. Learning these shortcuts can save time and make it easier to navigate different functions in the software. Some commonly used Tally shortcut keys are listed below:

Features of Tally ERP 9

Tally ERP 9 comes with features that make accounting and business management easier. Its simple interface, fast performance, and remote accessibility help users manage their business operations efficiently. Below are the key features of Tally ERP 9.

1. Simplicity

Tally ERP 9 is easy to set up and requires only basic knowledge of accounting to use. Its user-friendly interface makes it suitable for beginners as well as experienced users.

2. Speed

Tally ERP 9 generates accurate reports quickly. It enables management to make informed business decisions without delay.

3. Remote Access

The software allows users to access business data from anywhere at any time, making it convenient for managing accounts remotely.

4. Support Centre

Tally ERP 9 includes a Support Centre where users can directly post functional and technical queries related to the software.

5. Tally.NET

Tally.NET establishes a secure connection that enables remote users to access company data without copying or transferring files.

Understanding the basics of Tally is an important first step before learning TallyPrime. From its early accounting versions to Tally ERP 9, the software has evolved with features that support accounting, inventory, taxation, reporting, and business management. 

While Tally has some limitations, its simplicity, speed, and ease of use have made it a popular choice among businesses and beginners. Learning these fundamentals will help you build a strong foundation and make it easier to use Tally Prime effectively.