Everything you need to know about Tally Prime 2.0

Tally is constantly changing, improving and introducing new features to make it GST compliant, simpler to use and to improve its flexibility. From 1989, when it was introduced, till today, Tally has been constantly updated with new features like GST compliance, e-invoicing, browser reporting and much more.

This article throws light on the amazing features introduced in Tally Prime Release 2.0 and how to use it.

1. E-way Bill and E-invoicing in Tally?

E-way Bill and E-invoicing is mandatory for most businesses. To improve ease of doing business in India, Tally has an in-built E-invoice and E-way Bill generation capability in its default features. No additional cost is charged for this feature. You can get it by updating your Tally to the latest tally prime 2.0.

How to enable your Tally for E-way Bill generation?

Step 1. Register Tally as your GSP

Tally is one of the official GSTP partners. Go to the GST portal and select Tally as your GSP. Register on GST portal for E-way bill.?

Step 2. Generate E-way Bill in Tally

1. Once these two steps are completed, in Tally enable your E-way bill configuration.?

2. Create an entry and if your amount exceeds 50,000rs, you will be asked if you want to generate E-way bill after saving the GST details, select Yes and enter the user Id and password. (This ID password will be saved for the next 6 hours unless you turn off your computer)

3. You will see a pop up saying E-way bill generated successfully. Press Enter and you will see a dialog box with three options to configure, preview and print. In this way you can create E-way bills while creating sales entry on the go.

You can also generate bulk E-way bills in Tally by following these steps -

Step 1. Click on ‘Exchange Menu’ on the top of your screen

Step 2. Select ‘Send for E-way Bill generation’

Step 3. A dialog box will appear with the number of entries eligible for E-way bill generation. Select the entries for which you wish to generate E-way bills.

Step 4. Select ‘Send’

Step 5. A confirmation box will confirm the number of E-way bills selected for generation and will ask ‘Do you want to continue?’ Select ‘Yes’

Now the E-way bills will start processing for generation.

After completion, a pop-up message will show the number of E-way bill generated.

E-way bill generation in Tally is as easy as a voucher creation.

GSTIN / UIN / SAC / HSN verification

How many times have you entered a wrong GSTIN or HSN code? We all have done it atleast once. This manual error is bound to happen. Considering this a challenge for all Tally users, Tally now verifies your GSTIN and HSN code on real time basis to ensure these errors do not occur. This feature will help businesses save their ITC as well as their relations with their customers by ensuring accurate invoice filing.

‘Save as report’ Feature

Reports are analyzed over a long time to understand patterns and plan as per the plausible future. Tally has many configurations for different reports.

For e.g. Stock Summary Report

Open stock summary report and press F12 to open the configurations dialog box. Now you will find a list of different configurations such as

Show quantities - Yes/No

Show Rates - Yes/No

Show Values - Yes/No

Show Opening Balance - Yes/No

Show Good Inwards - Yes/No

Show Goods Outwards - Yes/No

and so on.

You can customize your stock summary report as per your requirement. Tally users who had to use these configurations repeatedly had no option but to manually enable these configurations every time they needed the same report. Tally Prime 2.0 allows you to save these configurations so that you can automatically view the same report with new data without having to manually configure it. This feature is available for all reports.

You can save these report configurations by selecting the ‘Save as Report’ option on the right panel of the report screen. Click on it and name the report and next time when you open Tally you can search the name of the report and select the time period. Your report with the same configurations will open.

This feature saves a lot of time for accountants as well as business owners. It eliminates dependency for business owners.

These are the top 3 features introduced in Tally Prime 2.0. Another problem fixed in Tally is:

Tally Report view in Browser

Tally Prime version 1.0 introduced browser reporting. This feature allowed users to access their Tally reports on browsers. Thus you can view your Tally business reports not only in Tally but also in any other device that has a browser and internet connection. The problem faced by many users was the need to zoom in and out to read values. Thus in Tally Prime version 2.0 this problem has been addressed and the reports are made more user friendly by enabling auto-fit i.e. all reports will automatically fit your screen size. You can view your reports without having to zoom-in to read values.

These are the key features introduced in Tally Prime 2.0. All these features are completely free of costs. You can get your Tally updated from your service provider and start using these features to further simplify your work.?