Introduction To Tally ERP9.0

Tally is appropriate for all business requirements. It provides extensive coverage for operating business through the varied features of Tally ERP.9Tally ERP is designed to coordinate through all the verticals of the organization.Upgradation from Tally ERP 9.0 to Reach is discussed below

Features

• Accounting and finance
• Inventory management
• Sales management
• Purchase management
• Manufacturing and job work
• Banking
• MIS reporting

Specifications

Drawbacks Of Tally ERP 9.0

Tally ERP 9 is powerful and feature-rich. However, Tally lags on user-friendliness. Maintaining and accessing accounting information from Tally ERP 9 is a breeze for those trained and experienced on the software, having accounting knowledge. Whereas, Tally ERP 9 can be a nightmare for those not trained or accustomed to the software. Therefore, Tally ERP 9 is suitable only for businesses with dedicated accounting professionals. Entrepreneurs not having Tally experience would also find it hard to access and understand accounting information or reports or data generated by Tally.

Tally ERP 9 is offered as a software.A PC running Windows XP or higher is required. Tally ERP 9 is a works as a stand-alone software and the accounting information is stored on the PC’s hard-drive. Tally ERP 9 does have powerful remote connect capabilities allowing persons not connected with the PC storing the accounting information to work on the same data from a different PC running Tally. Tally ERP 9 presently doesn’t offer any iOS or Android App and is thus accessible only through a PC running Tally ERP 9.

Using or extracting information from Tally ERP 9 will be a challenge for those not trained or experienced on the software.

Need a lot of outside works. not easy to export data to another program or import data from another program.

On site training and customer care by company. Add ons are very difficult to understand in software. Support for add on facility like auto signature , is out sourced and the details are not updated in the system.

There is no web version only desktop version available, in case you don’t have access to your computer then the work cannt be completed. Cloud services not available in Tally ERP 9.0 this being one of the major drawbacks  data is not cloud synced so if you lose your computer or if the hard disk crashes, your data is lost.

Access or operate business from anywhere is not possible as it is not cloud computed.

Some advance features missing like auto bank statement download, regular auto posting , mobile or Tablet not supported.

Remote Working is slow takes time to understand the complete system  No Maker – Checker system

User Interface is complicated,  user guide is not so easy to understand ,error messages does not specify or give suggestions to rectify it.

Reporting tools should be added in tally giving various reports of department, functions etc

SAP ERP Overview

SAP ERP is business software designed for business planning. This system is considered to be all-inclusive and suitable for all types of businesses. SAP ERP has three main modules that cater to any business, namely, operational requirements, finance and human resources.

SAP  ERP Cons 

• SAP ERP installation process is lengthy and time-consuming
• Running the full SAP ERP integration has been reported to fail in several cases
• Suits large scale companies.
• The costof SAP ERP Software, planning, customization, configuration, testing, implementation, etc. is too expensive.

Reach Accountant Online VAT Accounting Software:

From the above we can infer that Tally has a hitch with its technology and other features whereas SAP ERP is highly suitable for large scale industries. Its implementation cost is too high,and many features of the ERP may not be required for the companies. Taking above inference in to consideration we can come to the conclusion that Reach Accountant Online VAT Accounting Software is the perfect solution to all business requirements. It bridges the gap of technology, features, suitability ,usage and the price.It is also compliant with the VAT guidelines as prescribed by the FTA (Federal Tax Authority) of UAE.

Technology Used

Reach has implemented the latest technology Cloud Computing to handle  day to day business transactions just  a click away from your browser from any part of the world.

Cloud Computing is a concept through which organizations can manage their data centres, processes and applications online via internet on the scheme of pay for use basis.

Advantages of Cloud Accounting Software:

– Nothing to install. Just signup and start entering your transactions
– You don’t have to worry about upgrades as all changes are pushed automatically. Online software are always up to date.
– Can be accessed from any internet enabled device at any point of time
– Cloud accounting software providers take care of backup and maintenance which is a cost saving for you.
– Data across all your offices is always synchronized.
– It can integrate with other cloud based applications.

Provides utmost security to data and information of the client’s business.

What is an Online Accounting Software?

Online accounting software is accounting software that is hosted on remote servers. It provides accounting capabilities to businesses in a fashion similar to the SaaS (Software as a Service) business model. Data is sent into “the cloud,” where it is processed and returned to the user. All application functions are performed off-site, not on the user’s desktop.

In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider. Using cloud computing accounting software frees the business from having to install and maintain software on individual desktop computers. It also allows employees in remote or branch offices to access the same data and the same version of the software.

Benefits of Online Accounting Software for Businesses

Most business owners have a number of tasks on their plate each day in order to help the company stay successful.

A solution that many businesses are starting to use is online accounting software. These applications make the process of calculating revenue, cash flow, and payroll easy and accurate. Your company’s financial information will be secure, but you can access it from anywhere with the correct security code. Simply put, online accounting software is a great investment for any small business.

Here are some of the benefits a business can discover through online accounting software:

1. User Friendly

Online accounting software is generally easy to learn and use in day-to-day business operations. Once it is set up, you can keep your accounts up to date with a few regular data entries – information from bank statements and invoices can be automatically uploaded and processed into the correct categories. This means that you and your employees don’t have to worry about advanced accounting details – you can do what you need efficiently with a few clicks.

2. Security

Since online accounting software stores data online, some business owners might be worried about security. However, security is a top priority for online business software companies. In addition, the online connection makes it easy to invoice clients, link up with bank information, and assess your business’ financial health wherever you are.

3. Cash Flow

Effectively managing your cash flow can help your business save money. Online accounting software makes it simple to determine incentives for employees and discounts for creditors or customers. In addition, the manager or business owner can view profits and losses in a comprehensible way.

4. Invoicing

One of the most important aspects of any business is invoicing, because it brings revenue to the company. Creating invoices with online accounting software saves you time and prevents losses caused by human error. You can even send invoices directly to clients through email to save paper and stamps.

5. Accuracy

For all types of business computations, accuracy is essential. Mistakes made in calculations can possibly lead to significant losses or other issues. Online accounting software keeps you from making these mistakes.

6. Cost

One of the greatest benefits of online accounting software is the cost savings. For small businesses running on tight budgets, hiring an accountant can be expensive. Even running software on an in-house server can end up costing a lot with all the upgrades and system tools. When a business buys online accounting software, it only has to worry about paying for the software and training employees to use it. And since many online software companies run on subscriptions, you’ll only have a small fee each month instead of a large one-time purchase.

7. Productivity

Paperwork can be tedious and tiring, causing employees to get distracted and become less productive. Online accounting software is much more efficient than filling out paperwork because half the work is already done. This helps employees be much more productive than they were before.

8. Opportunities

Many types of online accounting software help businesses track trends, losses and profits far better than they could in the past. This may help the business discover new opportunities to improve revenue.

E-file your VAT Returns using online Reach VAT Accounting   Software?

The VAT returns in UAE are to be filed online.The registered businesses are required to generate VAT returns in an acceptable format as prescribed by FTA and upload the return file in the portal. Therefore it is important for businesses to have a right software which helps in accounting VAT and has a capability to generate the return file in XML or Excel format

The VAT return filing process in UAE is very simple and easy. The businesses with the right tax accounting software will be able to file the returns effortlessly and save time.

The registered businesses in UAE are required to generate the VAT return File from their Reach accounting VAT software, login to the FTA’s e-tax portal and upload the return file. On the basis of the uploaded return file, the e-tax portal will validate the file and accordingly the details from the file will be auto-populated in the online return form.

Top Features of the Reach OnlineVATAccouting Software are:

• Accounting Management: All functions relating to accounts are inbuilt with the software. You can manage your Accounting Ledgers, Bank & Cash Operations, Purchase & Sales Estimates, Warehouse Allocations, Expense Recording, Expense Grouping, Payments – Part or Full, Journal Entries, Income and loss a/c, Balance sheets, Receipts – Part or Full, Contra Entries, Financial Reports, Day book.

• Tax Management: Our accounting Software automatically calculates the taxes relevant for every bill created. The Software is designed as per the government norms for calculation of VAT. It also has the option to add any number of taxes relevant to the business. In case of change in tax percentages a change it in the software on your own. All you have to do is add your tax percentage and our software will calculate the taxes automatically. This multiple tax scheme can also be applied to multiple products on a single purchase.

• Income Management: The Company can create Quotations then the same can be converted as a Sales order or Pro-forma invoice or Invoice. From Invoice you can create Receipts as well. Accountants will be able to know what payments have been received and what are pending in the reports. You can also set reminders for receiving payments.

• Expense Management: You can create Purchase Orders then the same can be converted as bill or payments. You can also create Debit notes for purchase returns. Accountants will be able to know which purchase bills have been paid and which are pending in the reports. You can also set reminders for making payments.
• Invoicing: Generates VAT compliant invoice of the company in the specified design as requested by the client or can choose from the available templates in the software. It also converts quotes to invoice .One of the features is the software can convert the Foreign currency invoices to base currency and further calculating the VAT at UAE standard rate.

·         Print Tax Invoice In Arabic: Reach software lets you print invoices in Arabic, English or both, as per the mandated guidelines of GAZT and FTA.

• Auditor View: Full-fledged Financial reports, Tax reports VAT reports, read process by auditor, with e-filing options, PF & ESI Reports, Tax Consulting Modules are some to be named.
• Check Post for VAT returns: As the software has been designed exclusively to aid individuals and entities to be VAT compliant in UAE, the set of rules and regulation laid by FTA (Federal Tax Authority) of UAE are embedded in the software. Hence any process error will be popped up by the application can be viewed .For instance wrong Tax Registration Number, incorrect taxable figure, wrong taxation period.
• Automatic Update on Tax legal Sections: As the Reach software are cloud computed software gets upgraded to update any revised tax laws and section if any in future.
• Computation Of VAT Returns: The software is inbuilt with all the detailed crucial information  on tax computation Tax Assesee can  fetch all the details of all the taxable transactions It lists down transactions which are included and excluded in the VAT return  calculate input tax, reverse charge and output tax to avail claim if any

• Filing Of VAT Returns: The registered businesses in UAE are required to generate the VAT return File from their accounting software, login to the FTA’s e-tax portal and upload the return file. On the basis of the uploaded return file, the e-tax portal will validate the file and accordingly the details from the file will be auto-populated in the online return form. Reach VAT software is designed to ease the process of filing returns and comes under the purview of FTA prescribed set of rules and regulations.
• VAT Reports etc.
• Calculate VAT automatically.
• VAT support in Sales, Purchase, Sales and Purchase returns, Journal entries.
• Generate Federal Tax Authority compatible tax reports.
• VAT Paid (charged by suppliers) and Vat Collection (Charged to customers) Analysis.
• Transaction wise details of VAT paid and VAT collected.
• Attach every Vendors/Customers VAT number and other details.
• VAT supported for Goods (stocked) and Service (non-stocked) items.
• Online application accounting.
• VAT Account Reconciliation, VAT Collection & VAT Paid analysis report.
• Report export to excel and other standard formats.
• VAT returns statement compatible with Federal Tax Authority standards.

Online accounting VAT software enables you to file vat returns, manage accounts and other business operations from any geographical area be it at the comfort of the house.

• Receipt: Receipts can either be manually entered or imported it in excel format easily.
• Payments: Payments can either be manually entered or imported it in excel format easily.
• Multi Company: Manage business through comfort of the smart phone.
• Tally Import: Tally files can be easily imported to Reach Software of various periods and manage business easily.
• Auditor’s Report: Full Financial Report are available,Read process by Auditor,Tax Reports,VAT Report with e-filing options,PF & ESI Reports,Tax Consulting Modules are some featuress mentioned.
• Mobile Application: Access business information through tabs and android smart phones, pick photos of expense vouchers and attach to expenses, daily profitability and other key reports can be viewed on phone.
• Bank Synchronization: Bank Statements can be imported in to Reach software through excel files.
• Security: There is complete security of data stored in the servers. Data can be accessed and control by creating access restriction. One time password facilities also ensures a check in the log in to the website.

• Run Business from anywhere: The business can be run access data from anywhere at your comfort. Just like checking mails from the laptop or systems.

• Free and Automatic Upgrades: At Reach Accountant you will be provided free services of upgrading the software frequently with new features and use it absolutely free.

• No investment in expensive hardware: The software is browser based. It just requires internet connection which can be connected to multi computers without using LAN and servers.

• API: The client can integrate the existing software with Reach accounting application ,

• Automatic Data Backup: Reach stores all the data in servers offsite with regular backups. Hence business information is safe and secure

·         User Interface & Complexity:The software is designed to make its use friendly and easy,no cumbersome process to operate the application and software.

• Scalability:It is an VAT accounting software which can scale with your business needs. . Some software companies offer only one version of the product and some have progressive versions depending the business type or size. Reach Accounting software offers both integrated an entry level version as well as a feature rich version which you might not need for the current business processing but will definitely need in future for business development.
• Business Intelligence Dashboard: The software has a feature of providing you key statistics of the business at any given point of time.The dashboard displays work status, profit and loss, expenses graphically.It also features  best Selling Executive, Highest Selling product, Largest value customer for the month. Every night the client gets a SMS summing up the entire sales , expenses ,case production ,and stock value for the day.

Top Two Features of the Reach Accounting Software

• Outsourced Accounting: The software enables to finish the outsourced accounts in less than 30 minutes.

• Real Time Accounting: Allows client to record sales and purchases online, while finalizing accounts that is checking the Audit trail, providing MIS reports, checking Tax reports, printing financial reports and filing taxes.

Conclusion

Reach is the ultimate destination, which paves way for smooth functioning of all the verticals in the business and integrate seamlessly when required. Thus Reach is the cutting edge over SAP ERP and Tally ERP 9.0