Future of Tally – New Features expected from next version of Tally.

Evolution of Tally

The initial phases of Tally were DOS based and subsequently GUI (Graphic User Interface) based, which used to support basic accounts related functions. The initial phases encompassed the accounting of transactions up to the finalization of books of accounts. However with the ever changing accounting standard scenarios as well as complexities involved in accounting for various taxes, the business community wanted an overhaul in Tally which would take care of accounting of taxes as well.

• Tally 6.3 ensured complete VAT implementation as well as ensured security for the package.
• Tally 7.2 majorly incorporated cancelled vouchers.
• Tally 8.1 incorporated migrating of multiple currencies.
• Tally 9.0 focuses on form 16 for employee, TDS on salary, excise for dealer, data migration, and auditor’s edition also includes form 3CA & 3CB for tax audit purpose.

Till date tally is best accounting software available for small enterprises and home based users. So we can say Tally is adding lot of new features in every new version. Tally user is increasing day by day specially in India, and people expect a lot of additions in Tally’s next version. This article is about what we features we can expect from next version of tally.

New Features that one expects from next version of Tally

Improvement in GUI screen

One thing is all users are waiting is improvement in GUI screen. Screen still looks like the same old DOS based screen. Company has added lots of new features in their different versions however changes are missing on this one important area. Whenever you are passing an entry or viewing a report you feel an outdated application is running. So we hope that we find a change in that.

System based application- rather than web based application.

Data is stored on local devices so whenever you want to make entry or view report on other system then you have to copy paste data in that PC otherwise you will not be able to get access to Tally. Tally application & Data Should be stored on cloud based server so that it can be access from any location with use of internet and user id password for login purpose. Currently it is system based and does not require internet to operate. However we can expect it to make both system based i.e. offline and online for multi-location or multi-department company.

Integration of different department

Currently Tally focuses on company from the point of view of accounting only. However nowadays, use of accounting application has enlarged from basic accounting to generating lots of information for different departments like HR, Finance, Statutory compliances, Tax department, Management reports. Next Tally version should focus on integrating these all departments so that it will benefit to medium and large scale industries. Features like employee records, Loan register, shareholder list, predefined letter drafted for debtors/ creditor reminder etc will surely help.

Reminders and Alerts

Auto mail facility for debtors/ creditor reminder, alerts for statutory compliance due dates – Income tax, service tax, excise, custom, vat, etc. This kind of alerts will be value addition for Tally users. As it will directly impact the finance position through avoiding late collection & avoiding penalties.

Data Security

Further one more important area is data security. Currently at the time of accessing company accounts one time password protection is available however once you have enter that, then you can delete any entry or you can alter any entry. In short, you can do anything with all data. Access right should be restricted either department wise or function wise, voucher alteration rights should be restricted with regards to cancellation and deletion of vouchers.

Separate Login id

Smart function or detailed report like separate login id for each staff so that their work accountability can be identified and attendance can be identified with the help of report, separate report giving information of upcoming liability with dates e.g. tax liability like advance income tax, service tax, vat payable with due date , auto email for various kind of reminders. 

 At present no doubt Tally is best accounting application available in India in respect of cost & simplicity to use for small traders. Further Tally users are increasing at good speed with the increasing number in users, the expectation from Tally has increased. For middle & large scale enterprises additional features discussed above will give additional benefits.  Customization of tally accounting application based on user requirement is important area to look. We can expect details reports & much more security related changes in upcoming tally versions.  Majority of points we discussed above are common to all industry, so industry is expecting it to enroll it soon or later.

It will be great if you can share your thoughts what you are expecting from Tally in comments section.