What Is The Scope of Tally in India? A Complete Overview
Is learning Tally and changing your field to create new lucrative career opportunities something you desire? Then this article is for you. Let me show you the Scope of Tally in India and the available career options for Tally professionals such as yourself. Let’s start with what Tally means. It is an advanced accounting tool that helps companies manage operations, avoid loss and maintain accounting data. Companies are seeking accountants with extensive Tally skills and this could allow individuals to create productive opportunities in numerous companies in India as well as worldwide.
What exactly is Tally?
Transactions Allowed in a Linear Line Yard or Tally is computer software that manages accounting processes from financial documents to the preparation of liabilities and property statements. Tally is mainly used as automated accounting software.
The release of a new version of the software called Tally ERP (Enterprise Resource Planning) has made transformed the software into an advanced accounting tool that manages accounting, billing, sales, auditing inventory, billing, and taxation such as VAT (Value-added Tax), TDS (Tax Deducted at Source), TCS (Tax Collected at Source).
Tally software has been adopted by several businesses all over the world to manage their accounting needs since it is straightforward, simple to use, affordable, and operates in real-time without the use of any codes. With the companies increasing demands, the demand for the software has increased the Scope of Tally in India.
In 1986, Shyam Sunder Goenka and his son Bharat Goenka created Tally Solutions. The company was named Peutronics Financial Accountant and later in 1999 was renamed Tally Solutions. An early version of the software was published as an MS-DOS application which featured only rudimentary accounting functions.
The software kept developing and in 2009 the company released Tally ERP 9 later in 2017 Tally solutions launched its updated GST (Goods and Services Tax) compliance software. In 2020 the software’s latest version was introduced called TallyPrime.
Features of Tall Accounting Software
- It does not require codes to operate. It executes in real-time, had full-proof online help, and works at a high speed.
- Tally ERP 9 supports multiple languages and can be viewed in many languages which include 9 Indian languages.
- Companies can easily maintain and create 99,999 employee records using Tally.
- Employee records management can be automated using the payroll feature of Tally software.
- Synchronization of transactions is automatically updated through multiple locations using Tally.
- Both single and multiple groups can be easily managed using Tally.
- Tally can induce consolidated financial statements as per the conditions of an organization.
- Tally software can be customized according to business function needs.
- Tally software has the option to use multiple and customized interest calculation methods which helps to generate detailed reports. The specific amount pending is guaranteed to be obtained within the allotted time limit thanks to these reports.
- Tally ensures transactions in multiple currencies which help global companies. Global companies face difficulty to record transactions in multiple currencies due to different exchange rates which Tally solves quickly.
Advantages of Using Tally Software
- Tally makes maintaining of budget easy. It helps companies to manage expenses and track the allocation of budgets to each department.
- Tally ensures the data is secure and reliable and there is no scope for error while entering the data.
- Tally is used to carrying out audits of the company. It ensures all the budget allocated is thoroughly carried out.
- Tally organizes the financial records of the company including payments, bonuses, and salary.
- Tally helps organizations to retrieve previously stored documents including receipts, bills, and invoices in its archived folder.
- Tally makes tax filing easy. Tax GST makes sure excise tax, Vat, TDS, and profit and loss statements are taken care of.
- Tally helps to keep together all branches of a global company. No matter the location a company can access the data uniformly.
- Tally can be used on multiple systems and occupies limited space.
- Tally is very cost-effective therefore it has a very high demand in companies worldwide.
- Tally ERP 9 allows a company to automate employee record management which is highly beneficial for the company’s business and has elevated the scope of Tally in India.
Scope of Tally in India
Tally Course in India generally takes 3 months during which you will learn in-depth software concepts, GST and TDS calculations, etc. In recent years the scope of Tally in India has grown exponentially and today it is an excellent option for beginners who want to pursue a career in accounting. Diploma course duration can extend up to more than 2 years.
Tally Course Eligibility Criteria
- The Tally course ensures students a solid foundation for a career in accounting. If interested here are the following requirements for Tally courses
- You must have completed a 10+2 or an equivalent exam. The commerce stream is preferred, though individuals from any stream can apply.
- Introductory knowledge of the business operation and account is preferred.
- Tally is suited for Finance, accounts, and business management therefore it will give you added benefits if you are seeking a job in accounting.
Tally is an important skill to master for individuals such as
- Fresh Commerce Graduates to start their career in accounting.
- CA (Chartered Accountants) professionals or those pursuing CA can reap benefits from this course.
- Company Secretary professionals or learners can also benefit from this accounting course and create multiple career prospects in the industry.
- Tax Experts can record accurate transactions and currency conversions that could help them make strides ahead in their careers.
- Finance Professionals can uplift their careers with the help of Tally. They can also opt for a career switch if required.
- Business management students can develop their skills in business relation solutions with the help of Tally software.
Tally Course Fee and Duration
Depending upon the certificate or diploma and the mode of training, the Tally course can have a duration of 1-2 years or 2-4 months. A diploma course has a duration of 1 to 2 years and a certification course takes less time i.e 2 to 4 months. The course fee varies depending on the college and the mode of training can range roughly between Rs 3,000 to Rs 10,000.
Tally Certification Course VS Tally Diploma Course
Differences between the Tally certification course and the Diploma course are listed below:
|Tally Certification Course||Tally Diploma Course|
|Course Level||Certification||Higher Secondary Certificate|
|Time Duration||2 to 4 months||1 to 2 years|
|Focus||Accounting practices and analytical skills||Accountancy in MNCs.|
|Eligibility||10+2 Commerce||10+2 Commerce with min 50%|
Tally Course Curriculum
Basics of Accounting
|● Definition, objectives, scope, accounting principles, types of accounting, concepts of accounting, Accounting equations, and effects of transactions.|
● Accounting Standard
● Types of accounts
Advance Tally ERP 9 and Tally Prime
|● Creating Company, Accounting Masters, Accounts Heads, and Inventory Masters in Tally.|
● Group and Ledger, Voucher entry, Debit, and Credit Note.
Tally Advanced Accounting
|● Transaction recording, Managing inventory, payment vouchers, adjusting Forex profit or loss, Interest Calculation, Group budget, Order processing, Sale 0r purchase, Stock valuation, Depreciation, Trading, profit and loss, Balance sheet analysis, shortcut keys, etc.|
Career Opportunities After Tally Course
Proficiency in the latest versions of Tally solutions makes your job ready for several career options such as Accounts executive, audit executive, financial analyst, accounts manager, etc. Let’s make a list of career prospects and roles associated with the Tally course keeping the scope of Tally in India in mind:
A Tally operator is a trained professional who works on Tally software to process transactions and other records of the organization.
- Recording all the bills, payments, payroll, inventories, and other important entries in the Tally software.
- Recording all the transactions of the organization.
Tax accountants are licensed accountants that support and aid both individuals and organizations in accurately and accurately filing their taxes. Moreover, it is under their scope of expertise to follow legal guidelines to bargain and ensure maximized tax returns for their clients.
- Collect client forms to identify potential credits against expenses.
- Prepare tax payment reports for the client
- Estimate, calculate, and track tax returns
- Create and maintain a tax database for the business/client
- Make quarterly and annual tax reports on behalf of the client company
- Determine tax savings and make suggestions for methods to boost profitability
- Observe market trends and keep tabs on tax developments
- Communicate with internal and outside auditors
Data Entry Operator
Data Entry Operators process data and information of the company on the database. They are held responsible for precisely entering important data of the organization and keeping the records up-to-date. Although the job looks easier on the face of it, however, it requires immense dedication, precision, and thoughtful techniques to avoid any glitches while updating data.
- Feed relevant information into the computer either manually or using a scanning device.
- Updating customer and account information from source documents within the given time frame.
- Collecting, vindicating reliability, and organizing information to prepare source data for entry into a computer system.
- Reviewing data for scarcities, correcting any disagreements, and checking returns.
Inventory management involves shadowing, controlling, and managing the movement, stock, operation, order processing, and manufacturing of accounts. Inventory generally contains raw products, work-in-progress goods, and final products that differ from assiduity to assiduity.
Tally allows inventory managers to insure a sufficient stock of the right accouterments at the right time, avoid overstocking or understocking and reduce running costs. The software simplifies stock operation, manufacturing, organizing the record batch-wise, making accurate reports, managing the costs from other parties, and making delivering online business reports directly.
The finance executive is concerned with the financial health of the company including money transactions, income, expenses, etc. They aim to make sure the organization is profitable by managing cash flow statements, budgeting, and tax planning activities.
- oversee an organization’s financial operations.
- Monitor the company’s income, expenses, investments, and other finance-related aspects.
- Create, maintain, and evaluate financial reports like cash flow statements.
- Plan out budgeting and taxes to maximize profits and cut costs as and when required by the company.
- Monitor financial trends and economic changes happening in the country.
Tally Junior Accountant
Tally junior accountant is an entry-level job that requires you to work under a senior accountant in an accounting firm or organization. The main job here is to look out and about in the details of accounts.
- Getting and processing all the payment requests, expenditure reports, and invoices.
- Managing petty cash, bill receipts, and making up bills.
- Maintaining and handling accounting records, filing documents, and keeping copies of the same for future use.
- Through knowledge of Statutory compliance of both collected and deducted taxes including service tax, TDS, professional tax, etc.
Bookkeeping is the exertion of recording all forms of business deals that include the transfer of finance or finance worth. Tally helps bookkeepers record fiscal deals directly, post disbenefits and credits and maintain balancing checks, accounts, and accessories.
Tally allows for the customization of invoices, banking automation, payment reminders, and remote access to the data, all of which are based on the principles of revenue, spending, matching, cost, and impartiality. It delivers thorough, customized reports aid bookkeepers in tracking employee hours, and automatically fill out payroll and computes taxes.
Tally performs automatic tasks like streamlining purchase orders, collecting and storing bills, making bill payments, and tracking the spending patterns of the company.
An accounting professional is a skilled expert responsible for running reports, maintaining financial records, and recording transactions (of all types). Providing administrative assistance to accountants and preparing statements to verify the precision of database information is among other duties that come under their scope of the area.
- Assist the accounting department.
- Create and keep accounting paperwork and records.
- Develop bank deposit statements, general ledger, and statements.
- Reconcile accounts from time to time
- Enter financial transactions and important data in the database daily.
- Research, track, and analyze discrepancies in the accounting records and documentation.
Sales Analysts are sales experts who are shouldered with the duties like analyzing sales data, creating sales forecasts, and making recommendations to produce optimal sales activities and market share of the company.
- Muster sales data from sales reports and use it to develop sales evaluation reports.
- Study and analyze past sales data to identify optimal trends to enhance productivity
- Scrutinize the budget of the company
- Conduct research through competitors and market trends
- Examine the shopping and purchase trends of customers and target demographics
- Leverage sales prediction software to understand future market trends.
Business analysts are skilled professionals that use business insights to suggest recommendations for business organizations. They interpret and document business processes, products, and services, through data analysis procedures.
- Analyze corporate processes, determine areas of development, and execute business solutions.
- Evaluate existing business processes and develop optimization plans.
- Follow the most recent IT developments to automate and modernize systems.
- Communicating your insights and strategies to cross-functional teams in an effective manner.
- Garner useful information and data from meetings with stakeholders and formulate profitable reports.
- Make sure business solutions adhere to the organization’s demands and specifications.
- Serve as a mediator between stakeholders and users.
Administrative executives handle administrative and office support responsibilities. Duties may include attending telephone calls, entering and directing callers, word processing, creating spreadsheets and donations and forms, expansive software chops, internet exploration capacities, and strong communication chops are needed.
The primary duties of these professionals, which may be found in any industry, include assembling daily sales data into excel spreadsheets, gathering daily cash receipts from all heads, and processing accounts payable checks.
Auditors are accountants who work in accounting departments. The money that enters and leaves organizations must be audited and recorded by them.
Their ultimate objective is to ameliorate the fiscal status of the company by assaying results, covering dissonances, relating trends, and recommending conduct to operation.
An account manager keeps the firm’s ties with a client or group of customers for them to continue doing business with the company. Sales and relationships with specific clients are handled by an account manager for a business. The account manager maintains the company’s connections with the patron or a group of patrons to keep using the company for business.
The general ledger, bank statements, and handling of account issues are all the responsibility of senior accountants. To analyze financial data, a senior accountant has to have strong analytical abilities as well as a working grasp of accounting principles.
Average Salary for Tally Professionals
On average, the Tally accountant’s salary in India ranges between INR 1 to 3.9 LPA. However, this is an entry-level salary, which will increase manifold with your achievements to vertical rise to the top of your career stages. Just like any other profession, the salary is determined by professional expertise, accumulated experience, company, location, and other considerate factors.
To give you a fair idea of what your pay cheque could look like and what is the scope of Tally in India, we have compiled the average salary of the popular job roles after completing the Tally Advanced course:
|Job Profile||Average Salary (PA)|
|Tax Accountant||Rs 5,60,000|
|Data entry operator||Rs 1,92,000|
|Finance Officer||Rs 3,40,950|
|Bookkeeper||Rs 2, 40,000|
|Tally Junior Accountant||Rs 1,50,000|
|Accounting Clerk||Rs 2,40,000|
|Sales Analyst||Rs 5,00,000|
|Business Development Trainee||Rs 5,69,000|
|Business Analyst||Rs 8,65,000|
Top Recruiters After Tally Course: Scope of Tally in India
Keeping the scope of Tally in India there is increasing demand for Tally experts in India as well as worldwide. Here is a list of the top-notch recruiting firms that hire Tally-certified working professionals:
- Reliance Industries
- IBM India
- Ernst & Young (EY)
- PricewaterhouseCoopers (PWC)
- Grant Thornton International
- BDO International
- RSM Tenon
- Smith & Williamson.
- SS Kothari & Mehta
Scope of Tally in India: Future scenario
Accounting management is considered one of the most crucial parts of business operations in organizations. As a result, Tally is now an essential component of every organization in the world. Because of this, businesses are willing to pay more for accountants with advanced Tally knowledge.
Tally and accounting go hand in hand which has created numerous potential opportunities and immense growth for professionals in this field. Given the current trend, businesses are more and more getting centered around accounting and finance, and there are no chances of enterprises and businesses waning in the future.
As long as industries and companies stay alive, Tally solutions will deem fit for use and the scope of Tally in India will keep on increasing in the future.
Frequently Asked Questions About the Scope of Tally in India
Q1. What is a Tally Course?
Tally is an accounting software that is veritably important and useful in making computations in small and mid-level businesses. All the accounts operations such as banking and auditing can be done using this software.
Q2. What is the scope of Tally in India?
Students or professionals may work as freelancers in small and medium-sized businesses, aiding with account requirements. Account operation is one of the most important aspects of any business’s operations and it is critical to the company’s growth. There is a good scope of tally in India.
Q3. What is the duration of the Tally Course?
Generally, the Tally course takes 2 months duration to complete. Still, it indeed varies from institute to institute.
Q4. Is Tally useful for CA?
Yes. Technically, Tally is most useful for CA professionals because the Chartered accountant job is all about the management of accounts, processing invoices, filing returns, etc. Being one of the best accounting software, Tally makes their tasks easier and simpler.
Q5. Can I pursue Tally after the 12th standard?
Yes, the Tally course can be pursued after completing 12th if you have an inherent interest in a career in accounting.
Q6. Can a BA student learn Tally?
Yes, of course. However, since you are not from a commerce background, you may have to work a little harder to understand accounting and business management concepts. Basic computer knowledge will be required to learn to use Tally software.
Q7. Is Tally good for the future? Is there a scope of tally in India?
Tally is used worldwide for accounts because of its numerous benefits. This software is also evolving with the changing business and is recommended for all recording, tracking, and counting purposes. So, yes Tally is reliable and good for the future.
Q8. Which tally course is best?
Tally ERP 9 is considered to be secure and tough to hack by utmost companies. Thus a course that teaches ERP 9 has the best scope of Tally in India in the current market.