Tally Prime is no longer just basic accounting software—it’s a full-fledged ERP system designed for real-time compliance, inventory, payroll, automation, and business insights. Most users, however, only explore surface-level features like voucher entries or ledger creation.
In this power-packed article, we will explore advance features of Tally Prime—covering its meaning, purpose, how to use, where it fits in business, shortcuts, real-life use cases, and key benefits.
✨ Key Benefits of Using Advance Features of Tally Prime
| Feature Area | Business Benefit |
|---|---|
| 📦 Inventory Control | Real-time stock accuracy |
| 📈 Reporting Tools | Data-driven decisions |
| ⚙️ Automation | Time-saving and error reduction |
| 🔐 Security Features | Data privacy and internal access control |
| 🌐 Compliance Features | GST, TDS, Payroll, and Audit Trail-ready |
| 🧠 Business Intelligence | Powerful ratios, dashboards, cost analytics |
🧩 Basic Requirements
Before diving into advanced features, ensure:
- ✔️ Licensed Tally Prime (Silver/Gold Edition)
- ✔️ Admin login access
- ✔️ Features enabled under F11 (Accounting/Inventory/Statutory)
- ✔️ Clear understanding of your business structure
🔍 List of Advanced Features in Tally Prime
Each feature below includes:
- ➤ Meaning & Purpose
- ➤ Where to Use
- ➤ How to Use It (with Shortcut)
- ➤ Real-life Example
- ➤ Benefit to Business
1. Audit Trail / Edit Log
➤ Purpose: Track “who changed what” and when. Mandatory for companies under MCA mandate.
➤ Use Case: For audit trail during internal/external audits.
➤ Shortcut: Enable via F11 → Accounting Features → Use Audit Trail = Yes
➤ Real-Life Example: Auditor tracks backdated journal entry updated by accountant.
➤ Benefit: Ensures compliance, transparency, prevents data tampering.
2. TallyVault (Data Encryption)
➤ Purpose: Password-protect company data using encryption.
➤ Use Case: Sensitive financial information to be protected from unauthorized access.
➤ How to Use:
- While creating company → Set TallyVault password
- Shortcut to update vault:
Alt+F3 → Alter Company → Change Password
➤ Benefit: Military-grade security, data cannot be retrieved without password.
3. Cost Centres & Cost Categories
➤ Purpose: Allocate income/expenses to departments, branches, or people.
➤ Use: Sales team-wise performance tracking, Project-wise profitability
➤ Shortcut: F11 → Accounting Features → Enable Cost Centres
➤ Benefit: Sharp insights, granular expense control.
✔️ Related: Cost Centre & Categories in Tally
4. Tally Prime Edit Log Edition
➤ Purpose: Compliant version under MCA’s mandate
➤ Includes:
- Auto log generation
- Non-editable logs
- User/date/time-stamped changes
➤ Benefit: Helps auditors identify manipulation & secure bookkeeping
5. Multi-Currency Transactions
➤ Purpose: Handle sales/purchase in foreign currencies
➤ Shortcut: F11 → Enable Multi-Currency
➤ Use Case: Export business billing in USD, but books in INR.
✔️ Related: Foreign Currency in Tally
6. Order Processing
➤ Purpose: Manage Purchase/Sales Orders and track delivery
➤ Setup: F11 → Inventory Features → Enable Order Processing
➤ Usage:
- Create Sales Order (F8)
- Track Outstanding Orders
- Convert to invoice
➤ Benefit: Sales commitment tracking, stock planning
7. e-Invoice & e-Way Bill Integration
➤ Purpose: File GST e-invoice and e-way bills directly from Tally
➤ Setup: Enable in F11 → GST Features
➤ Shortcuts:
- e-Invoice:
Alt+Z → e-Invoice Report - e-Way Bill:
Alt+W → e-Way Report
➤ Benefit: No separate portal login, faster compliance
✔️ Related: GST in Tally
8. Cost Centre Class
➤ Purpose: Auto-assign expenses to cost centres
➤ Use Case: Salary expense auto-distributed between departments
➤ Shortcut:
Gateway → Accounts Info → Cost Centre Class → Create
9. Remote Access (Tally.NET)
➤ Purpose: Access Tally from anywhere securely
➤ How to Use:
- Subscribe to Tally.NET
- Enable in Company Features
- Create user IDs
➤ Benefit: Work from home or travel-friendly access
10. Tally Server 9 Integration
➤ Purpose: Multi-user speed, concurrent access, real-time sync
➤ Use: Medium & large businesses with multiple data users
11. Voucher Class
➤ Purpose: Auto-allocate ledgers/taxes while invoicing
➤ Use Case: Pre-fill tax rates, discounts for a product category
➤ Benefit: Saves data entry time, ensures accuracy
12. Budget & Control Management
➤ Purpose: Set yearly/monthly budget & monitor deviations
➤ Steps:
Gateway → Accounts Info → Budgets → Create
➤ Shortcut: Use Ctrl+C to copy existing structures
13. Security Controls & User Roles
➤ Purpose: Restrict access based on roles
➤ How to Set:
- Gateway → Alt+K → Security Control → Users & Passwords
➤ Roles: Admin, Auditor, Data Entry Operator
14. Bank Reconciliation (BRS)
➤ Purpose: Match your ledger with actual bank statement
➤ Path: Gateway → Banking → Reconciliation
➤ Shortcut: Alt+B
15. Payroll & Salary Automation
➤ Purpose: Salary structure, pay slip, deductions, PF/ESI automation
➤ Setup: F11 → Payroll Features
➤ Benefit: No manual salary working in Excel
✔️ Related: Payroll in Tally
16. Reversing Journals & Optional Vouchers
➤ Purpose: Temporary or year-end adjustments
➤ Benefit: Trial posting without permanent effect
17. Job Costing
➤ Purpose: Track project-specific income/expenses
➤ Setup: F11 → Enable Job Costing
18. Manufacturing Journal & BOM
➤ Use: Track raw material-to-finished goods conversion
➤ Shortcut: Gateway → Inventory Vouchers → Manufacturing Journal
19. Auto Backup & Restore
➤ Purpose: Prevent data loss in event of crash
➤ Setup: Alt+K → Data → Backup / Restore
20. Import & Export Data
➤ Purpose: Import master data, voucher, stock
➤ How:
Gateway → Import Data → Choose file format (Excel/XML)
21. Integration & API Support
➤ Use: Connect Tally with CRM, ERP, or Web Apps
➤ API: Tally HTTP XML API available
📈 Business Impact Chart – Tally Advanced Features vs. Efficiency Boost
| Feature Category | Efficiency Gained | Example |
|---|---|---|
| Automation (Voucher Class, e-Invoice) | 50% Time Saved | GST Billing |
| Security (TallyVault, Roles) | 90% Risk Reduced | Access Control |
| Costing (Cost Centre/Job Costing) | 3x Analysis Power | Project Profitability |
❓ Frequently Asked Questions (FAQs)
- What is the most useful advanced feature for service companies?
Cost Centres and Payroll automation. - Can I use e-invoice features without GSTR-1 filing in Tally?
Yes, you can selectively enable either. - Is Tally Server mandatory for remote access?
No. Tally.NET remote access works without Server 9. - What is TallyVault password recovery process?
Vault password is unrecoverable; backup and secure storage are musts. - Can I use Cost Centre with Manufacturing entries?
Yes, to allocate overheads across cost centres. - What happens if I alter audit trail data?
Alterations are logged. Not deletable in edit log edition. - Is auto GST filing possible via Tally?
Yes. Use GSTR connectivity tools available in Tally Prime. - Are all these features available in educational mode?
Most features are visible but non-editable in educational mode. - Do advanced features slow down performance?
With Tally Server or optimized RAM, speed remains stable. - Which feature should be prioritized by startups?
Remote Access, TallyVault, GST & Payroll.