The Need of Tally Accounting software for Accountants

the need of

Tally Accounting Software
for accountants

Learning Tally is considered mandatory for a Commerce
graduate. And rightly so! Tally is to a fresher, what a foundation
is to a building. Tally equips an individual with practical
knowledge. It is a tool that gives you a working method to
organize all the numbers and figures you have already pulled up
and which in turn can be used to make an organization’s work
very stream-lined and organized. Tally is learnt by fresh
Commerce graduates, because it provides a practical value-add
to their Accounting knowledge

What is Accounting?
Can it be a practical career choice?

Accounting is defined in layman terms, as
handling an organization’s finances

Accounting is one of the most common work profiles, but also
the most misunderstood of them. It might sound pretty basic,
but involves the handling of complex financial figures.
Accounting involves -

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The recording, reporting and systematic analysis of a
business’ financial transactions
The production of financial records and statements
The ability to select relevant financial data and discard
what is not required
Learning about the financial stability of a company, its
profitability, liquidity and wealth.

Without accounting, an organization would just collapse,
because major and minor, daily and long-term decisions
depend on it. Budgets for long-term investments, marketing
activities, R&D, profit reinvestment and even company
growth, depend on the work of accountants.

While understanding an organization’s finances is important,
what also matters is how all of that information can be
understood and put into a concise informative report.

Learning Tally accounting software could provide the following
benefits –

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It will make your work easy, understandable and will also
save you precious time that generally tends to get wasted
in drawing reports.
Since Tally is a key skill that employers look for, having this
skill on your resume will automatically get you more
preference in the job search process.
Using Tally accounting software will reduce the number of
errors you will make while accounting entries and
calculations.
Tally modules such as Payroll, Inventory, Multi Currency,
Taxation, Interest Calculation etc will be significantly
helpful in your day to day job as an accountant.

Account Qualifications Required

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Knowledge and love of numbers, since this is going to be a
part and parcel of an accountant’s life. Every work,
whether posting journal entries or putting together a
balance sheet will require this.
Basic knowledge of computers and sufficient computer
skills
An analytical mind that will help you put everything
together, creating a sense of order from the chaos and
basically pick up any discrepancies that may mar an
otherwise perfectly healthy finance report.

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An attention to detail. Pulling together thousands of
figures to create income statements and balance sheets
can be a tedious job, and an accountant is the only one
who can compile everything, decide what is to be used and
discard anything that is irrelevant.
Finally, good communication is also important. It is only an
accountant who can give words to facts and figures seen on
a balance sheet, and can communicate with different
employees to gain data or disperse it.

Once you’ve become an Accountant, you can even decide to
further your career, by becoming a Chartered Accountant or a
CA, for which there are specialized courses and exams with
authorized Tally training centers. You can either stay as an
accountant your entire career, or you could choose to
diversify into other areas such as Investment Banking, Due
Diligence, Equity Research, Strategy etc.

2 Kinds of companies
that hire accountants

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Dedicated accounting firms such as Deloitte, Ernst &
Young, PWC etc
Companies that have accounting departments such as Tata,
Reliance, Airtel etc .

A junior accountant can earn anywhere between Rs. 1.2 – Rs.
3.6 lakhs per year depending on your experience and the kind
of company.
If you are a CA, you could earn much higher. Months back a
few CA students , started at Rs.9 lacs in a leading IT firm.

The Need of Tally Accounting software for Accountants

The Need of Tally Accounting software for Accountants

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The Need of Tally Accounting software for Accountants