Easily manage your bills with Stripe View, offering clearer invoices, detailed reports, and instant task notifications. Indian users can conveniently upload and file GST returns through Connected GST, automate tax calculations under TDS Section 194Q, and seamlessly manage Tally Plug-ins from Tally Prime.
In the Middle East and Bangladesh, users can now enjoy Tally Prime in their native language, with the flexibility to use their preferred language across different computers on the same network.
Additionally, the product includes significant improvements for an enhanced user experience.
Master Your Accounting & Compliance Needs with Connected GST
Welcome to stress-free GST compliance. Now, managing your books and meeting GST requirements is a breeze, fully integrated into your everyday Tally Prime Workflow.
Key Features
- Simplified GST Compliance with Tally Prime
- Quick Uploads & Downloads: Upload GSTR-1, GSTR-3B, CMP-08, and download GSTR-1, GSTR-3B, GSTR-2A, GSTR-2B in a few clicks.
- Effortless Filing: File GSTR-1 directly from TallyPrime via DSC or EVC without accessing the GST portal.
- Real-Time Party Validation: Instantly create and validate party ledgers using GSTIN/UIN from the GST portal.
- ITC Insights: Accurately track ITC risks, monitor invoice uploads, and access detailed reports like Ledger Vouchers – GST.
Benefits
- Resolve Mismatches Easily: Fix mismatches and rejections quickly for smooth filing. Save time with automated uploads, downloads, and party validation connected securely to the GST portal.
- Stay Informed in Real Time: Access real-time insights on your compliance and transactions directly within TallyPrime.
- Effortless Compliance: Spend less time on GST compliance and more time growing your business with streamlined processes.
- Choose Your Workflow: Enjoy the flexibility of Connected GST and offline features, choosing what works best for you.
Automated Tax Calculation to Comply with TDS Section 194Q
- Automate tax deductions for purchases exceeding Rs. 50 lakhs annually, in line with TDS Section 194Q.
- Handle TDS exemptions on government purchases and update payment details for multiple parties in Form 26Q.
- Record advance payments using the TDS-integrated Stat Adjustment option for better reporting in Form 26Q.
Tally Plug-In Management within Tally Prime
- Easily access Tally plug-ins tailored to your business needs. With Tally Capital deployed by default, you can check your credit score, assess loan eligibility, and apply for business loans without any manual setup.
Sort Pending Bills to Manage Payments Effectively
- Manage pending bills more efficiently with the ability to sort and prioritize payments based on due dates, bill date, balances, or other criteria to reduce late fees and penalties.
Enhanced Report Readability with Stripe View
- Stripe View improves the readability of large data entries by highlighting alternate rows in reports. Use it for all vouchers and reports, or apply it selectively. You can also print, export, or share documents using this feature.
Instant Notifications with the New Bell Icon
- Stay on top of important tasks with the Notifications report and the new Bell icon in Tally Prime 5.0. Get timely alerts for GST uploads, return filing, TSS renewals, and more, with the ability to take immediate action without switching screens.
Product Improvements
- Seamless Data Movement: Upgrading to Tally Prime Release 5.0 is effortless. Simply back up your data and continue working without needing to migrate.
- Optimized Edit Logs: Tally Prime has improved edit logs for Price Level alterations and Bank Reconciliation, reducing unnecessary data volume.
- WhatsApp Payment and Receipt Vouchers: Now, the default WhatsApp number is automatically filled in when sending vouchers, eliminating the need for manual entry.
- Enhanced Bulk Data Processing: Processes like import, synchronization, and bank reconciliation are now faster and more reliable, minimizing risks of data corruption.
GST Enhancements
- Update GST Status Without Interruptions: Manage GST-related updates smoothly, with Tally Prime automatically updating the GST Status of vouchers based on your preferences.
- Easy Access to GST Registration History: The GST Registration Details (History) option is now readily accessible across all relevant reports.
- Improved Non-GST Transaction Management: Non-GST transactions are now marked as “Not Relevant for This Return” to simplify GST reports.
- Bulk Resolution of Uncertain Transactions: Resolve multiple uncertain transactions at once, such as mismatches in tax rates, HSN/SAC codes, and GST registration details.
- Enhanced Classification of Transactions: Transactions missing Supplier Invoice Numbers or Dates are now categorized appropriately in GST reports for easier tracking and reconciliation.
These updates make it simpler to stay compliant, reduce errors, and improve your overall experience with Tally Prime.
In conclusion, upgrading to Tally Prime 5.0 can greatly enhance operational efficiency and financial security. Its user-friendly interface, advanced reporting, and strong security features make it a top choice for accounting. With Tally Prime 5.0 readily available, businesses can leverage its new capabilities to stay competitive in a dynamic market.