Before the 19th century, there were individuals responsible for doing all sorts of accounting-related work. Not to mention that they were very skilled in executing all the required calculations and other corresponding deeds.
Disadvantages of Classical Accounting
- Since it was devoid of any collaboration of machines, it was highly prone to all sorts of calculation errors.
- Every business expects efficiency; it would be great if classical accounting were less time-consuming, but unfortunately, it was a massive boon regarding the required time. A significant disadvantage is probably the biggest.
- It was not capable of automation.
- Pretty fragile in terms of the security of data.
- It requires a great deal of manual effort; hence comparatively more expensive than modern accounting (Tally).
What is Tally Accounting?
Tally is nothing but an accounting software design to make business accounting a cakewalk for you, and trust me, it did it. Don’t believe me? Fine. But when I first came to know about this, even I was in shock as you are.
Still, the moment I learned about its international acceptance, yes, you heard it right, around 140 countries have accepted the tally software as a reliable source for business accounting. Why wouldn’t they if it is such magnificent software?
Evolution of Tally
The first version of Tally was launched in 1990, called Tally 3.0. There were many successors to Tally Accounting, but they were pretty bounded. One of the most prevalent and powerful ones was released in 2009, namely the Tally ERP 9 version, which was at the pinnacle of providing security. As of now, the latest version came with some additional features released in 2020 called Tally Prime. Quite a journey it had.
Advantages of Tally Accounting:
- Payroll Management: Tally Training in Chandigarh can help to efficiently calculate wages and salary distribution of any business. Moreover, it also helps companies store all sorts of financial information. How amazing, no?
- Remote access: Unlike classical accounting, Tally provides a unique way for employees to access their financial data irrespective of their geographical location.
- Multilingual: It doesn’t matter if you’re an American or a native Hindi speaker. There is no need to worry with Tally. Thanks to its multilingual support feature.
- Audit Tool: Error in financial data? No worries, the audit tool feature in Tally provides you the room to edit and recheck your financial data.
- Ease in Data Movement: You know what? You can quickly move your data from one place to another virtually, i.e., with no arduous physical effort.
- Business Assessment Made Easy: For making sure your business generates profit, Tally provides a conducive ambiance to assess data. As we know, the more the assessment, the more the probability of generating profit.
- No scope of data manipulation by cheaters: Tally ERP classes in Chandigarh assures you complete security as it doesn’t allow data alterations by non-authorized individuals.
Ironically, I can go on and on to make this list massively large. But I think the point is very clear and quite intense. So there is no need to list more advantages of Tally.
All in all, Tally is indeed the Godfather of accounting. Which is a powerful remedy to the problems of classical accounting.