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What is the future of Tally accounting software?

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In the breadth of the shifting, digitized world that requires businesses to be more agile, automated and provide up-to-the-second financial transparency, one name still stands remarkably well —  Tally accounting software  is the backbone of Indian business accounting. Tally has evolved with the times and from its modest beginnings to the modern  TallyPrime , the journey denotes unparalleled innovation and unprecedented trust. What is next for Tally software? Does it have plans to remain ruling the accounting world and fend off technologies that seek to disrupt it? Let’s analyze the future of Tally and try to understand how it continues to persist as one of the leading components of operations in various sectors. 1. Tally is Becoming More Than Just Accounting Initially,  Tally accounting software  was known for its ledgers, vouchers, and financial reports. This is however changing. Modern businesses want their accounting software to work with their sales, invento...
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Top 10 Inventory Management Features of TallyPrime

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Pending Invoices in IMS – The Concept and Process

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In the realm of   GST compliance , timing and ambiguity are of great importance. Every single invoice impacts your ITC calculations – which affects your monthly returns. A business’s expenses under ITC also include ambiguous   invoices   that have some semblance of eligibility. For the sake of example, if there is no explicit clarity, ITC is claimed on an invoice which later turns out to be ineligible. This results in credit, but an excess incentive credit, thus resulting in interest payment. Such actions from the latest IMS in GST are beneficial. Instead of rushing to settle invoices with a need for deeper examination or critique, you can solve them later without any imposing time constraint. Marking such invoices as Pending enables pausing action and pre-emption of unwanted resolution. This ensures that payments don’t get affixed to invoices in GSTR-2B or their ITC pool. We are going to cover in detail what Pending invoices entail, why you may want to mark them, and why...
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