An Overview of the Tally ERP 9 Auditor's Edition

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Information about An Overview of the Tally ERP 9 Auditor's Edition
Business & Mgmt

Published on March 6, 2014

Author: JohnAmend



The Tally ERP 9 Auditor's edition is of immense use to various parties involved in a business. It enhances effectiveness of audits and practices, favors Auditors and Chartered accountants.

An Overview of The Tally ERP 9 AUDITOR'S EDITION

The Tally accounting and inventory management software has been doing its rounds around the world for about two decades. The Tally accounting software is simple to install & use, operates at great speed, and are versatile and flexible. Therefore, they are widely used by organizations across the world. THE TALLY ERP 9 There are different versions of the Tally accounting software. Each has its own set of specifications and advantages to offer for businesses. Tally ERP 9 has taken the features and advantages of the Tally accounting and inventory management software several notches higher with advanced functions and advantages like never before. This code-less tool allows for remote functioning and therefore limitations of location and time have become irrelevant today. Although Tally ERP 9 is already in-built with an extensive list of features, the presence of the Tally customization feature magnifies the relevance of the tool to every/any kind of business.

Tally can handle a wide gamut of functions such as inventory management and financial operations, sales and purchase management, reporting, MIS and invoicing besides other operational requirements from the simplest to the most complex. Taxation and other statutory requirements are part of the functions of Tally ERP 9. Free and periodic updates, and several other recognitions and excellence in the field make the product a numero uno in today’s corporate world. The Silver and Gold versions of Tally ERP 9 are the ones that are available to businesses and individuals. Besides these two is the Auditor’s edition exclusively

designed for Chartered Accountants and Auditors. While the former versions have been known for their competence in handling accounting and inventory management operations, the Auditor’s Edition presents a world of good to company Chartered Accountants. THE TALLY ERP 9 AUDITOR'S EDITION The Tally ERP 9 Auditor's edition is of immense use to various parties involved in a business. Expanding economy, volatile tax base and augmenting compliance needs

increase the needs of Chartered accountants to maintain robust and to-date accounts for businesses they deal with. The Auditor’s Edition enhances effectiveness of audits and practices. Remote access is one of the important benefits that help parties involved in business to cut down on travel costs. The presence of Remote access helps auditors complete client requirements from any location. Geographical restriction will not be limiting with the Auditor's edition. The profession of Chartered Accountants is time honored and it only makes sense to maximize their potential towards your business. And, the product works towards bridging the gap between the client and the CA. Further, new practices such as Continuous Compliance can be added to make the tool a lot more pertinent and efficient for accounting functions. FEATURES OF THE AUDITOR'S EDITION The Auditor’s Edition encompasses all functionality of the product plus several other distinctive features that makes it the most sought after in the business world. The Tally accounting software Auditor' edition permits

✔ Computer aided audit ✔ Auto scan of ledger and voucher ✔ Records scrutiny according to audit type ✔ Filter transactions for further processing ✔ Check and verify tax liability ✔ Extensive dashboard capturing all specifications ✔ Immediate support ✔ Monitor work quality and assist clients to file their tax returns on time BENEFITS OF THE AUDITOR'S EDITION Enhanced Audit Efficiency: Auditors with this version of the Tally ERP 9 software can access client data and reports from a remote destination and do not have to be present on site to complete their tasks. This is made possible through the presence of Tally.NET. The presence of audit dashboard and ability to generate annexure and reports for Tax Audit enhance the efficiency of the audit process. Earlier, there was a lot of manual

intervention in the audit process. But with this new inventory management software, a lot of manual validations of vouchers and books can be avoided. Reports can be filtered as per your set audit requirement. Even doubts can be raised and clarified in the software itself. Diversification of Services: The Tally ERP 9 Auditor's Edition allows Chartered accountants to offer advisory services to their clients since a lot of time is saved in the routine audit process. Tally Integrators can work with the Chartered accountants to deliver technology solutions on the tool. Similarly, Tally service partners can also join hands with CAs so as to bring in cost efficiency in to the system.

A Chartered Accountant special: A Chartered Accountant derives numerous benefits from the tool. But firstly, it is important to purchase Tally from an Authorized Master Tally Partner to obtain all round benefits on time and with precision. Some of the benefits accrued for the auditor include access to data and reports of the clients anytime and anywhere. You don’t have to be present at client location for accessing this information. Therefore, chartered accountants can extend their client base to include other cities as well. Statutory compliance is made simpler through the presence of specific tool competencies. An audit dashboard makes the process more focused and streamlined. Clarifications and their solutions can be sought through the tool itself. Manual verification can be done away with and thereby save a lot of time. The Tally.NET services enable Chartered Accountants to authorize permission to article clerks without any extra licensing requirements. The CA’s transactions can be accessed from client location as well thereby making the tool holistic.

Since CAs can save a lot of time owing to the proficiency of the tool, they can offer business advisory services to clients. This way, the tool helps to enhance revenues, cut down unnecessary time and delays and offer better services. This edition of Tally ERP 9 thus offers enhanced revenues, minimal costs and reduction in time utilized for Chartered Accountants thereby benefiting the organization at large. ---

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