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Define Tally accounting?

Open uri20170510 32134 7ezpi6?1494421819 jaggu asked almost 3 years ago

Hi, Can you give a brief description on Tally accounting?

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2 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

Accounting is the activity or the system of keeping records of transactions of a business or any other organizations in monetary terms. It records the money or value for money received by or given to different persons or entities from time to time. It enables an organization to ascertain facts such as money owed to or by different entities, the assets and liabilities of the organization in different forms and the profit or loss made by it during specified periods.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 jitendra etikala answered almost 3 years ago

Accounting is the activity or the system of keeping records of transactions of a business or any other organizations in monetary terms. It records the money or value for money received by or given to different persons or entities from time to time. It enables an organization to ascertain facts such as money owed to or by different entities, the assets and liabilities of the organization in different forms and the profit or loss made by it during specified periods. Accounts refers to the complete records created by the accounting system. Also, an individual account refers to a specific entity or account head in respect of which separate record of accounting transactions is made. Tally is a trade name of accounting software maintaining accounts, and for performing additional accounting and other analytical operations helpful in management of an organization. Tally represents a business solution developed by the Tally Solutions Pvt Ltd software company whose headquarter is located in Bangalore. Hence, Tally is an accounting software which is used by small and medium enterprises from different countries all over the world. Tally solution easily simplifies the business process and it can be used by accountants who have knowledge of English language. All the accounting activities, such as financial records of a business, the generation of statements concerning the liabilities and assets of a business, all of them are easily managed with Tally solution. The name of the business solution, Tally, is inspired by the meaning of the word "tally", which is to count, to keep the record.

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