📘 Introduction
In the fast-paced digital economy, manual bookkeeping is no longer sustainable. Businesses, from startups to corporates, are embracing computerised accounting systems like Tally to streamline finances, ensure compliance, and make real-time financial decisions.
This guide explains what computerised accounting is, how Tally fits into the picture, and why it’s indispensable for modern business operations.
📌 What is Computerised Accounting?
Computerised Accounting is the use of accounting software to record, store, process, and analyze financial data. Unlike traditional methods, it offers speed, accuracy, and real-time access to financial information.
✅ Benefits of Computerised Accounting:
| Feature | Manual Accounting | Computerised (Tally) |
|---|---|---|
| Speed | Slow, time-consuming | Real-time, instant processing |
| Accuracy | Prone to errors | Highly accurate |
| Storage | Physical records | Cloud or local digital files |
| Reports | Manual preparation | Auto-generated reports |
| Tax Compliance | Manual calculations | Auto-calculated tax returns |
📊 Why Tally is the Preferred Tool for Accounting in India
Tally ERP 9 and now TallyPrime are India’s most trusted accounting platforms. It’s tailored to meet GST, TDS, Payroll, and other compliance needs while remaining easy to use.
🔍 Key Features of Tally:
- 🧾 Voucher Entry (Payments, Sales, Receipts)
- 💼 Inventory Management
- 🏦 Bank Reconciliation
- 📃 GST Invoicing & Returns
- 📈 Profit & Loss and Balance Sheet
- 🔒 User-based Security
🔁 Flow of Computerised Accounting in Tally (Infographic Style)
START → Company Creation → Ledger & Group Setup → Voucher Entry → Trial Balance → Financial Reports → Tax Filing → BACKUP
🧮 Setting Up Computerised Accounting in Tally: Step-by-Step
1️⃣ Install TallyPrime
- Download from the official Tally website
- Activate your license or use educational mode for practice
2️⃣ Create a Company
- Go to Create → Company
- Enter basic business details like name, address, GSTIN, etc.
3️⃣ Set Up Ledgers and Groups
- Under Accounts Info, create groups (Assets, Liabilities, Income, Expenses)
- Then create ledgers under each group
4️⃣ Voucher Entry
Use predefined voucher types:
- F4: Contra
- F5: Payment
- F6: Receipt
- F7: Journal
- F8: Sales
- F9: Purchase
5️⃣ GST & Tax Compliance
Enable GST in company features. Tally supports:
- GST returns: GSTR-1, GSTR-3B
- HSN/SAC code entry
- Tax computation automation
📘 Chart of Common Tally Shortcuts
| Action | Shortcut Key |
|---|---|
| Create Company | Alt + F3 |
| Create Ledger | Alt + C |
| Sales Voucher | F8 |
| View Balance Sheet | Alt + F1 |
| Day Book | D → D |
💡 Use Cases in Real Business Scenarios
| Industry | Tally Usage Highlights |
|---|---|
| Retail | Billing, Inventory, GST Returns |
| Manufacturing | BOM, Job costing, Work Order Management |
| Service Sector | Invoice Management, TDS Deductions, Payroll |
| Freelancers | Client invoices, Payment tracking, Expense control |
🔐 Why Security in Tally Matters
Tally allows password protection, user-level access, and audit trail tracking. This is essential for CA firms, corporates, and startups alike.
🧩 Conclusion: The Future is Digital
Computerised accounting with Tally isn’t just a convenience—it’s a necessity for staying compliant, efficient, and competitive in today’s fast-paced business environment. Whether you’re a freelancer, shop owner, or CFO, embracing digital accounting is your next smart move.
🌐 External Links –
🧠 FAQs on Computerised Accounting with Tally
Q1. Is Tally useful for small businesses?
Yes, Tally is designed to suit all types of businesses, including small and medium enterprises (SMEs).
Q2. Does Tally require internet?
Tally can work offline but requires internet for features like Tally.NET, remote access, and auto-updates.
Q3. Can I file GST directly from Tally?
Yes, TallyPrime supports GST return preparation and export in the correct format for uploading to the GST portal.
Q4. Is computerised accounting better than manual?
Absolutely. It offers better speed, accuracy, real-time reporting, and compliance management.
Q5. What is the cost of using Tally?
TallyPrime starts with a Silver license (single user) and has affordable plans for startups and growing firms.
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