Fundamental features of Tally

TALLY  provides  the  normal CASH BOOK,  LEDGER,  SALES  and  PURCHASE registers,  JOURNAL register, DEBIT and CREDIT NOTE Registers  as  the principal  books  of accounts, and further  the  statutory  statements generated  thereon, viz. the Trial Balance, Profit & Loss and  Balance sheet,   Cash   flows,   Funds  flow,   performance   analysis,   etc.

Additionally, it permits you to define your own classification methods to  organise  the information more meaningfully, keeps track  of  your outstandings  (receivable or payable) on a bill to  bill  basis,allows you  to set budgets for accounts or groups of accounts. It also  gives the daily closing balance or transactions of any ledger account, group or cost centre, a Memo register to ensure that statutory payments  are not  forgotten,  Cost  Centres to show  the  profitability  (Dept.  or product wise), and many  other useful facilities.