Tally Prime Feature
Multi GST in a Company
One of the most awaited Tally Prime features. Very soon Tally Prime users can create a single data for multiple GST registrations. Companies having operations across states and with multiple GST registrations will be saved from all the operational challenges faced today. They will experience the ease of filing GST returns for all their GST registrations from within a single company data. Now maintain only a single company instead of creating separate companies for each registration.
Connected GST Environment
A significant soon-to-come Tally Prime feature will benefit almost all with a GST registration. Tally Prime users will experience a smooth reconciliation experience. They can compare the data in their books with that available on the GST portal. This will give them the confidence that the information in both systems is matching. In case of any discrepancy, the Tally users can take immediate corrective actions.
In the forthcoming releases of Tally Prime, you will experience a simplified item master setup and the introduction of new tax calculation methods based on ‘Realisation’ as well as based on an amount exceeding the threshold limit. Changes with respect to 27EQ are also expected which will further enhance the user experience. This Tally Prime feature will really help in the day-to-day working of those for whom TCS is applicable.
GSTR 4 Returns
GSTR 4 form will be made available in Tally Prime for the benefit of those companies who have opted for the GST Composition scheme. All these companies are required to furnish their GSTR 4 return once a year by the 30th of April, following a financial year.
Quick GST Reports
A frequent and long-standing complaint of most Tally users is that GST-related reports take a long time to open. In the upcoming releases, GST returns’ related reports will open very fast like other accounting reports. This will save a lot of time spent on GST filing and related compliance activities. Another Tally Prime feature we are all eagerly awaiting
Enhanced Report Filters
New report filters are being planned for Tally Prime so that a user can get all the required information quickly, without wasting any time. With the option to apply single or multiple filters in a single screen, Tally Prime users can extract the most relevant information that they are looking out for in the report effortlessly. This upcoming Tally Prime feature will significantly enhance MIS reporting.