What is Fees of Tally in 2023(11 Questions Answered!)

The fee of tally in 2023 ranges between Rs 3,000 to 10,000. It also depends upon the type of institute that offers the course.

Tally, a powerful and widely acclaimed software that has been a cornerstone in the world of finance. Tally.ERP 9, developed by Tally Solutions, stands as a comprehensive solution for businesses seeking efficient and streamlined accounting processes. From small enterprises to large corporations, Tally has earned its stripes, simplifying everything from ledger management to intricate financial reporting. In this blog post, we’ll explore on a journey to unravel the functionalities, benefits, and the impact of Tally on diverse industries.

What is Tally

Tally is one of the Accounting software.It is used for doing accounting in a systematic manner. “Tally” typically refers to a software called “Tally.ERP 9.” It is a popular accounting and business management software developed by Tally Solutions Pvt. Ltd. It is widely used by businesses, accountants, and financial professionals to manage and streamline various accounting and financial operations.

Where tally is used

Tally is used by small and medium businesses to do accounting.Further it is used in many industries:

Industry/Sector	Tally Usage
Small and Medium-sized Enterprises (SMEs)	Accounting, Inventory Management, Financial Reporting
Retail Businesses	Sales Transaction Management, Inventory Tracking, Reporting
Manufacturing Industries	Production Cost Management, Inventory Control, Financial Transactions
Service Industries	Service Transaction Tracking, Invoicing, Financial Performance
Educational Institutions	Teaching Accounting and Financial Management to Students
Accounting Firms	Bookkeeping, Financial Statement Preparation, Client Account Management
Government Organizations	Financial Management, Reporting
Nonprofit Organizations	Financial Management, Donation Tracking, Compliance Reporting
Tax Consultants	Tax Compliance Assistance, Filing, and Related Tasks
Financial Institutions	Internal Accounting Processes

What is the duration of Tally?

It is course with duration of 1-3 months.In some cases,it is of 6 months.

Course Level	Duration	Focus
Basic Tally Course	2-4 weeks	– Covers basic concepts like accounting fundamentals, creating accounts, recording transactions, generating reports, etc.
Advanced Tally Course	2-4 months	– Builds upon the basic course and covers advanced topics like inventory management, payroll processing, taxation (GST, TDS), financial analysis, etc.
Tally Diploma	6-12 months	– Comprehensive program that covers all aspects of Tally, including advanced features, customization, and ERP functionalities.
Tally Certification	Varies	– Assesses your knowledge and skills in using Tally software. Specific duration depends on the certification (Tally Prime Certification, Tally ERP 9 Certification, etc.)

What is Eligibility for Tally ?

Anyone can do tally course .Most of the time it is more prefered by commerce students.The eligibility crieteria is just 10+2.

Eligibility Criteria	Description
Education	High school completion (10+2 or equivalent), preferably in Commerce; any stream is acceptable.
Knowledge Background	Basic understanding of business management and accounting is preferable.
Graduates	Graduates from any field are eligible and may find it advantageous for jobs in the accounting industry.
Ideal Candidates	Suited for students studying Finance, Accounts, Business, and Business Management.
Business Experience	Business experience is desired, especially for those pursuing the course after graduation.
Additional Requirement for Graduates	Even with the above prerequisites, a qualified graduate in any business-related field is required.

What is syllabus of Tally?

Tally includes Accounting Fundamentals,Goods and Services Tax (GST), Ledgers,TDS etc.

Module	Topics Covered	Description
Accounting Fundamentals	– Introduction to accounting – Double-entry bookkeeping – Journal entries – Ledgers – Trial balance	Understanding the basic principles of accounting and financial recording.
Company Formation	– Creating a new company – Defining accounting periods – Setting up ledgers and groups – Configuring inventory and cost centers	Setting up the software for your specific business needs.
Voucher Entry	– Recording various business transactions – Purchase vouchers – Sales vouchers – Payment vouchers – Receipt vouchers	Capturing all financial transactions in the system.
Inventory Management	– Maintaining stock levels – Purchase and sales of goods – Inventory valuation methods – Stock reports	Managing your inventory efficiently and accurately.
Taxation (GST & TDS)	– Understanding Goods and Services Tax (GST) – Setting up GST rates and ledgers – Recording GST transactions – Calculation and deduction of TDS	Complying with tax regulations and generating reports.
Payroll Accounting	– Managing employee salaries and wages – Defining salary components – Generating payslips – Statutory deductions and contributions	Processing employee payroll efficiently and accurately.
Data management & Reports	– Data backups and restoration – Report generation – Financial statements – Customized reports	Managing your data, generating reports, and analyzing financial performance.
Advanced Features	– Costing methods – Budgeting and forecasting – Multi-currency accounting – Security and access control	Utilizing advanced features for enhanced functionality and control.

Salary after Tally Course

The Salary of a fresher ranges between 2-3 lacs annually.But a experienced candidate can expect salary upto 4-5 lacs annually.

Position	Annual Salary Range
Tally Accountant	₹2 lakhs – ₹5 lakhs
Senior Tally Accountant	₹3 lakhs – ₹7 lakhs
Tally ERP 9 Consultant	₹4 lakhs – ₹8 lakhs
Tally Prime Consultant	₹5 lakhs – ₹10 lakhs

Scope of Tally in 2023

You have opportunities after Tally like:

• You can be an Accountant in a company.
• You can be an admin of a organisation
• You can be a audit executive
• You can be a Financial Analyst and so on

Is Tally a demanding skill in 2023

Tally is a demanding skill but there is a lot of development in technology. So there demand also decreases with time. Software and bots are developed ,they can replace humans in near future. But Tally remains a widely used accounting software, particularly in certain regions like India. However, the demand for Tally as a skill can vary depending on factors such as geographical location, industry, and specific job requirements.

In regions where Tally is commonly used, especially for roles in accounting, finance, and related fields. Small and medium-sized enterprises (SMEs) and businesses in sectors like retail, manufacturing, and services .

Is Tally better than Excel

Tally is better than Excel. It can handle a lot of data compared to excel. It also helps to prevent errors and saves a lot of time by reducing repetative tasks.

Tally Vs Excel

Feature	Tally	Excel
Purpose	Dedicated accounting software	Spreadsheet application
Functionality	Double-entry bookkeeping, inventory management, payroll, taxation, financial reporting	Data analysis, calculations, charting, basic accounting
Complexity	Designed for accountants and finance professionals	Easy to learn and use for basic tasks, but can become complex for advanced accounting needs
Accuracy	Built-in controls and validations ensure accuracy	Susceptible to errors due to manual data entry and calculations
Security	Multiple user levels and access controls	Limited security features
Scalability	Suitable for small and medium businesses	Can be cumbersome for large businesses with complex accounting needs
Collaboration	Multi-user access and data synchronization	Limited collaboration capabilities
Reporting	Predefined reports and custom reports with detailed analysis	Requires creation of custom reports from scratch
Cost	Paid software with different editions and pricing options	Free with Microsoft Office suite, paid add-ons available for advanced features
Integration	Limited integration with other business software	Integrates with various business software and services

Is Tally difficult to learn

Tally is not difficult to learn. With time and practice,you will be able to learn it. The difficulty of learning Tally can vary depending on factors such as your prior knowledge of accounting concepts, experience with similar software, and your comfort with technology. Generally, Tally is designed to be user-friendly, and many individuals find it relatively easy to learn, especially for basic functions