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Final project comparison between various version of tally

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it is helpful for ITT 100 HR TRAINING OF INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
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  • 1.Project Report SUBMITTED IN FULFILMENT OF THE REQUIREMENTS FOR 100 Hours Information Technology Train THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

2. Batch 2 Group members ROLL NO. NAME ICAI REG.NO 22 ABHISHEK JAIN NRO0276716 23 ANJALI AGGARWAL NRO0285971 24 KUSH LUTHRA NRO 0282238 25 ABISHEK JAIN NRO 0277260 26 CHARU NRO 0277589 27 DEEPAK KUMAR NRO 0262635 28 SHIKHA VERMA NRO 0287217 29 HEMANT JAIN NRO 0274466 30 NAINA NRO 0281464 31 SAURABH NRO 0274997 32 AANCHAL NRO 0282374 33 PARAS NRO 0280126 3. Contents Intro of brief comparison b/w various version of tally TALLY 6.3 OVER OLDER VERSION TALLY 5.4 NEW FEATURES TALLY 7.2 OVER OLDER VERSION TALLY 6.3 NEW FEATURES OF TALLY 8.1 OVER TALLY 7.2 NEW FEATURES OF TALLY 9 OVER TALLY 8.1 New features in tally erp 9 over tally 9 4. BRIEF COMPARISON BETWEEN VARIOUS VERSION OF TALLY Tally 4.5 Tally was started with is first version of Tally 4.5, which was a DOS based program. This program was very light weight and very fast in operation. Tally 5.4 The next version was 5.4 which was graphic interface version. It became popular in the masses. Its pirated copy made it most popular accounting software. Tally 6.3 Next version was tally 6.3 which was truly windows based version which could support fast printing and with VAT implemented. Tally 6.3 came with water tight security in terms of piracy. With its dongle it was almost impossible to crack. Although crack of software were available but Tally's policy of frequent upgrades and newer releases does the trick. 5. Brief Comparison between various version of tally(continued) Tally 7.2 Next version of Tally was Tally 7.2. It was also fast version with lots of new feature like statutory compliant versions. Different VAT rules for different states was achieved with this version. Tally 8.1 Tally 8.1 was developed with new data structure of Tally. A module of POS and Payroll was added to it. It could not live up to the expectations with the people and marred by bugs. Company rectified many but the version could not become popular and company has to abort it before time and launch new version. Tally 9 This is the latest version of Tally which has maximum features. All other versions have been declared end of life period by Tally company. Tally 9 has advance features like Excise for Dealers, Payroll, FBT, TDS, e-TDS filing facility etc along wit its regular features related to accounting and inventory management. 6. TALLY 6.3 OVER OLDER VERSION TALLY 5.4 The Extended Enterprise System RELEAS E 1 NEW FEATUR ES Release 1.1 new feature s Release 1.2 new features Release 1.9 NEW FEATUR ES 7. The Extended Enterprise System The new Tally ees 6.3 comes with breakthroughs in collaborative technology that extend your company's capability of managing information across your software applications and your offices, with your business partners and your managers-on- the-move. All this leads to accurate decisions for improved profits. 8. tally 6.3 NEW FEATURES RELEASE 1 Reorder Levels Aged Stock Analysis Scenario Management Tally ODBC E- capabilities 9. tally 6.3 RELEASE 1Reorder Levels Reorder level is that quantity in hand for a stock item, reaching which, you should order your supplies. The importance of reorder level arises from the desire to have sufficient stocks to service customer orders and at the same time not to have unnecessarily high stocks. Therefore, the points to be considered in deciding reorder levels are the lead time for suppliers to deliver stock , the delivery time specified by the customer, and the stock in hand to satisfy orders in the meantime. In simple mode, Tally accepts your specified quantities only. In advanced, Tally considers past consumption patterns to suggest reorder levels. You can however, give your own levels. You may also specify the minimum quantity that is to be placed for each order in either simple or advanced mode. The purpose of specifying reorder levels is to obtain a report that indicates the stocks that need to be ordered. Hence, we will first specify and then obtain the report. More: Specifying Reorder Levels Obtain Reorder Status and Quantities to order Alter Reorder Levels and minimum quantities 10. tally6.3 RELEASE 1 Aged Stock Analysis (Ageing Analysis) A very important function of Working Capital management is monitoring stocks. Money locked up in stocks can adversely affect the liquidity of a company and every company strives or should strive to reduce stock levels to the optimum. Every business (except perhaps the liquor and antiques dealers) would prefer to dispose of older stocks as they might deteriorate with time, go out of fashion, or simply get forgotten. Tally's aged stock analysis or Stock ageing enables you to know the age of stocks in hand according to when they were received and the purchase value. 11. tally6.3 How to view Ageing Analysis Ageing Analysis report produces a default ageing period of 180 days. You can change the setting by using F6. The default report also gives stock values based on Actual Purchase. Use Hide Amount to view the report without values as has been done above. Since Negative Stocks cannot be aged, they are shown in a separate column. Gateway of Tally > Display > Inventory Books > Ageing Analysis Select the Group of Stock Items to be analyzed 12. Tally6.3 RELEASE 1Scenario Management Scenario management is a management tool that enables different views of your information, both accounts and inventory related, by selectively including certain types of vouchers without affecting the base data. This is useful in reports with provisional figures without actually putting the entries through the main books. It is also useful for forecasting by entering forecast figures in provisional vouchers and including them to get forecasted figures. The vouchers that are used in Scenario Management are: Optional Vouchers Memorandum Vouchers Reversing Journals 13. tally6.3 RELEASE 1Tally ODBC Tally uses ODBC to connect to other programs and exchange data dynamically. Outward Connectivity Inward Connectivity Outward Connectivity Pick up data from Tally directly into other programs like Microsoft Excel or Word without any programming! Print labels for greeting cards from the ledger addresses stored in Tally! Even create templates for the likes of Audit Reports and Schedule VI forms and plug in data from Tally. Tally's database is now open for use in most popular programs to give you the unlimited flexibility of creating your own reports using up-to-date data from Tally. Inward Connectivity On the other hand, Tally ies 7.2 is capable of being programmed by TallyExperts to use data from other systems much more easily. This permits you to continue using other systems and use some of their data in Tally as if they were parts of one integrated system. For example, a customer contact management program may contain various details like status of an order and last contact made. Bring in that data into Tally to merge into a report containing outstanding balances. Any changes in the other data will be immediately reflected in Tally. 14. Tally6.3 RELEASE 1 E-capabilities AND Release 1.1 new features E-capabilities E-mail Internet Publishing Web-browser Release 1.1 new features Optional Vouchers by default Item Invoice & Account Invoice Common Ledger A/c for Item Allocation Credit Period details in Ledger Master Use Defaults for Bill Allocation Accept Supplementary Details Single Entry Mode for Payment / Receipt / Contra 15. tally 6.3 Release 1.9 NEW FEATURES Proxy Server Configuration A new configuration option has been added in the F12: Configure menu. A new configuration option has been added in the F12: Configure menu. From this release onwards, Proxy server configuration is required for those users who are behind a proxy server and use Synchronization feature of Tally as a Client. If TallyClient accesses a TallyServer through a proxy server then proxy server details must be provided in this option. Tally no longer depends on Internet Explorer for proxy settings. 16. tally 6.3 Release 1.9 new features Rejection In and Rejection Out In Stock Vouchers sub-screen of Stock Item/Group monthly summary reports, Rejection Out would be shown as Negative (-) quantity in Inward Column, and Rejection In as Negative (-) quantity in the Outward Column. In the event of Rejection In (Material Inward but considered as (-) Outward), the Rate at which the Item has been returned, will not affect the value of Closing Stock and the value of material would be debited to respective sales account only. In case of Rejection Out (Material Outward but considered as (-) Inward), the Rate at which the Item is returned will change the rate of Item for the balance Closing Stock. Synchronization Modification in Op. Balance of a Debtor or partial adjustment of the same against multiple receipts were not getting synchronized to the server data. The same has been corrected in this release. In case of change in the Op. Balance (In case of carrying forward the balances to next year) the user must modify one of the existing vouchers in order to synchronize the modified Ledger account. 17. tally 6.3 Release 2.1 new features Tally Link Server Tally Connected customers get access to a range of connected services known as Tally Internet Services. Tally Link Server is one of the services available as a part of Tally Internet Services. It enables two instances of Tally to communicate with each other without the requirement of a fixed IP address in the server. Tally Connected customers can synchronize their data using the Tally Link Server. Import/Export Snapshot --Helpful to setup synchronization when both the companies participating in synchronization have large no. of transactions Ability to Import any XML files of any size Option to compress data during Synchronization Insert Failure Voucher ID Error > Resolved

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