Payroll is simply an aggregation of total amount of wages paid by the company to its employees. It is one of the most significant expenses for businesses; hence it is very complicated expense for companies to process. Processing payroll slips is a very time consuming task and can be prepared weekly, semi - monthly or monthly depending upon the resources which the company has in its reserve.
Companies usually hire payroll services from third parties by way of outsourcing which make the process of accounting for payroll and easy and effortless task. Payroll service provider manages multiple tasks such as tax obligations, employee’s time calculation, preparing checks and salary report management. It eventually reduces the operating cost of the business.
With Advent of ERP systems such as Tally.ERP 9 the process has made a shift. Today the ‘Payroll Module’ in the software is totally integrated with the business management solution and been enabled to manage trouble free payroll processing along with the accounting processes.
The software provides remote facility that can be relied upon and is now easy to access, process and manage the payroll information from anywhere and anytime in the world.
There is also no requirement of hiring specialised IT/ HR professionals to manage and organize the payroll module from the Tally software. As this module can be managed on its own and provides impeccable solution, an accountant or any HR personnel of the company can install, organise and manage it.
Payroll accounting in Tally offers the benefits of simplified Payroll processing and accounting due to its added benefit of integration with accounts.
The Payroll module in Tally.ERP 9 reports comprehensively as it has user defined classifications and sub classifications. This might be associated with the employees, employee groups, pay components, departments etc.
The payroll module also lets flexible and user defined criteria for users
It also offers the facility to create user defined earnings and deductions pay heads.
The module lets us use unlimited grouping of Payroll Masters.
Supports production / attendance / time based remuneration units which are user defined production units.
It offers all-inclusive cost centre as well as employee wise costing reports.
The payroll module helps in tracking the loan details of employees as well.
Ensures timely and precise processing of salary along with employee statutory deductions and employer statutory contributions with the help of predefined processes.
It helps generate Statutory forms and challans for EPF & ESI as prescribed.
With GST in place, you might be looking for GST Billing Software and it's features. Tally is offering Tally.ERP 9 Release 6 as a GST Ready Software, it's having all the features right from GST Billing to GST Returns, Error Detections & corrections, and many more.
Suppliers will record all the purchases (goods and services including other business expense purchases) made by you apart from ITC on your goods, you are eligible to avail ITC for purchased services and other business expense purchase of goods and services. Now you have to be very careful about your expense purchase bills, purchase with GST bill as a business rather than as a consumer.
Choose your suppliers carefully to avail ITC smoothly. Similarly, your customers will choose you based on your compliance readiness, hence use best GST Software. They might see how well you have adopted technology, how you will be able to reconcile without discrepancies. How in GSTRegime you will file your returns without much of errors, so that they can easily reconcile with you and avail ITC.
Customers may ask for invoice upload at the time of making a purchase "Buyer gets input credit ONLY if seller pays GST" considering this you will start getting request from your customers to upload your sales invoice on GSTN. Customer will ask you to do so, to prevent themselves from any kind of disputes at a later stage. By having a best GST Software in India you can easily manage all this very easily.
You may need to get involved in matching transaction activity, while your Tax Return Preparer will continue to file your returns. There might be situations where your records may not match with your suppliers/customers and same will be intimated to you in Form 2A/1A. Now, you have to reconcile all such mismatch with your suppliers/customers. As you know your business, you can easily connect with your suppliers and manage the same.
Information exchange between you and your TRP will increase. Now, it's not like monthly once you can share your data with TRP as in most of the cases currently, but now you might be sharing data multiple times with your TRP as you will be reconciling mismatch with your suppliers/customers which will lead to changes in data.
You need to upload all your outward supplies including cash sales (First level distributor and second level distributor) As department is aware of all your purchases, mismatch in stock in hand and outward supply, may lead to departmental scrutiny. Department will come to know when your inward stock is not showing corresponding outward stock
Start GST billing in a few minutes using Tally.ERP 9 Release 6
Just follow three easy steps and generate your GST bills from Tally.ERP 9
Enable GST
Start entering GST Registration details, tax rates, and create tax ledgers
Create and print sales invoices
Handles all your GST invoicing needs, whether it is simple invoices or advanced ones with multi-Item, multi-tax rates and so on. Tally.ERP 9 helps you prevent any incompleteness or errors. Print error-free GST invoices right from the beginning!
Reverse Charge for all kinds of Business scenarios
Advance Receipts and Payments.
Tax Payments for all your indirect taxes.
Journal adjustments (Input Tax Credit opening balance, utilize Input Tax Credit, utilize cash).
Bill of Supply for Composite Dealers
Invoices for Export businesses
Quickly reconcile with suppliers, and get rightful input tax credit.
Enhance customer satisfaction to get continuous business.
Minimize the chances of GST return rejection
Experience hassle-free GST returns.
Conveniently file GST returns.
Tally is not only an application, but also a complete development environment which enables the programmers to build extensions, customizations and integrations using Tally Definition Language (TDL). TDL allows programmers to build a faster application without compromising on Speed, Reliability or data Integrity, which is core to Tally.
Extensions do not impact any of the core features of Tally that you love. You continue to enjoy the speed, simplicity and flexibility of your Tally.
Extend, Customize or Integrate your Tally fast
Add or remove any extension at any given point of time without compromising data integrity and reliability
Let's Software work for you!
Don't Work for Software!
We Speak Tally!!
Why Compromize on your Traditional Invoice Design,
Print the invoice as like you required
Payemnt/Debit Voucher
Receipt/Credit Voucher
Payment Advice
Voucher Type wise Security
Ledger wise Security
Group wise Security
Credit Limit Based Security