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2018

How GST Brought Back Tally ERP 9.0?

How GST Brought BackTally ERP 9.0

India’s oldest accounting software, Tally ERP is on the rise again. Thanks to the introduction of E-Way bill under the GST reform!

There is no denial that GST rollout changed a lot for our country and the common man. Despite various speculations, the new tax reform has managed to shed light on the benefits of unifying indirect taxes and also encouraged the e-filing practices to smoothen fair trade in the country. Besides, GST has opened the doors for small and medium sized companies that provide accounting and financial services, proving it as another silver lining.

Tally ERP 9 is India’s most popular accounting and business management software with about 1.5 million licenced users and over 5 million users of its pirated version. In the last few years, its demand seemingly dropped due to the emergence of new, cloud-enabled platforms from various IT and software solution providers. But the fading software rose to its full potential after sensing the urgency to aid growing number of businesses to easily adhere to the system of filing returns on the GST Network (GSTN). This is remarkably the most promising side of GST.

Tally ERP 9 Release 6.4

Tally’s latest version Tally ERP 9 Release 6 series was launched on February 23, 2018. The Tally ERP 9 Release 6.4 is built to streamline GST compliance procedures and manage E-Way Bills by creating invoices before transporting goods and products, printing the e-Way Bill number on corresponding invoices as well as modifying, differentiating, tracking and consolidating bills.

Additionally, the Tally ERP 9 Release 6.4 enables the creation of Cess ledgers depending on the quality and overall value of the products or goods. A comprehensive report on Cess bifurcation on those goods or products can also be generated on the invoices and tax analysis reports.
The software’s single and multi-user editions are available at the previous prices. The single-user edition can be purchased by making a partial down payment and the remaining amount can be paid as seven monthly instalments.

How Tally ERP 9 Release 6.4 Can Help Tally Win Back its Lost Charm?

Besides the convenient payment models for the software licence, the latest Tally ERP 9 Release 6.4 has plenty of advantages including advanced data sync features to offer to its users. “We have made a conscious attempt to make the solution flexible to accommodate various exceptional circumstances that different businesses might find themselves in, while complying with the new reform,” says Tejas Goenka, Executive Director, Tally in a press release, reports an English Daily.

Since the beginning, the Tally software was built with the vision of minimizing the complexities of finance, accounting, invoicing and much more through technology to deliver simplicity to the target customers that were less tech-savvy. This served as a cornerstone for over thousands of successful partner associations. Nearly 70 percent of those partnerships focused on selling the software and the remaining 30 percent included Tally ERP 9 training and tutorials to widen the reach and use of Tally among business.

By the 2015, the solutions’ partnership rapidly boiled down to just getting the customers implement or develop some sort of awareness about the software. “Over time, it became hard to oversee 25,000 partners, categorise or classify the total amount of business they do,” expresses a former manager of Tally, reports Economic Times.

Subsequently the company pushed to reinvent its flagship software by making more investments on its infrastructure, customer engagements, training and assessment programs to boost software adoption rates.

As per the sources, by 2016, Tally’s overall profitability levels had increased by six times, with a 9 percent growth rate in overall revenue in the last five years.

GST was a Blessing in Disguise for Tally

Prior to the GST rollout, the company’s executives were focused at the building a new point of sale (PoS) platform to make the most out of the on-going retail, e-Commerce growth. Incidentally, the GST law issued a mandate for all small and medium enterprises to strictly comply with the new digital tax system.
The associate partners for Tally have increased to more than 25,000. In order to accelerate its use by small and medium companies to enable in trades and movement of goods and products across states in the country, the company also initiated a Tally Accelerator and many certification programs to enhance Tally know-how in its partner networks. “The more people we have on ground to reach out and sell, the more the business will grow — no matter what product we have. With GST, we required a lot of people to reach out to a lot of businesses,” adds Goenka, as per press reports.

During 2017, Tally has helped nearly 75 percent of its 11 lakh clients transition into the GST regime through its ERP software versions. The demand has been significantly higher since the official GST rollout in September 2017. This meant that Tally made about 30,000 GST migrations in a day on average, according to the reports.
The software company has also reportedly taken measures to allow customers have the option of filing GST invoices offline by collaborating with offline sources of GSTN. As the number of businesses registered to be eligible for the payment of GST the relevance of Tally ERP is likely to smash the sales record.

For more details on the GST filing process and news related to latest accounting software, visit out site at munimji.co.in

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