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The new version of TallyPrime offers a breath of fresh air in managing GST and financial reports. These enhancements make the work faster, minimize the possibilities of errors, and help avoid non-compliance which is why TallyPrime should be in any business. Now, let’s explore the four key features that are ushering in change to businesses’ GST and reporting experience.
If you have been in business, most probably you have a list of potential and actual party in your network. It can be cumbersome to create and maintain ledgers for these parties. However, this has not been made easy until the release of TallyPrime through which one can easily create or edit party ledgers through a simple click of the button. The fresh addition of the ‘Fetch Details using GSTIN/UIN’ option allows the user to get the party details on the flutter and update it with the GST portal instantly.
This feature not only is very convenient but also guarantees that the obtained information is rather up-to-date. You just punch in the GSTIN/UIN of the party and leave the rest on TallyPrime to handle. It starts with names and addresses, and even PAN details, all of which are retrieved in real time. And not just that, creation of ledgers in bulk is also possible by uploading multiple GSTINs from Excel and fetching the details of all from the GST portal of India. With TallyPrime, filing, downloading, reconciliation, permissions, and validation have become easier as it is integrated into the GST portal. This way, you can perform all your GST activities directly from TallyPrime without the necessity to visit the GST portal.
Suppose you are a salesman or a business person who wants to make business with a customer and wish to know his or her compliance to GST. So, using the latest TallyPrime, you can immediately verify their filing status for the past six months, the return period, filing date, mode, and active/inactive/cancelled status. For a normal customer, additional information for GSTR-1 and GSTR-3B is also provided if the customer is a regular dealer. For composition dealers, filings you can look at are CMP-08. It makes one to make informed business decisions. Secondly, this level of detail leads to improved communication and thereby builds confidence with the clients.
Let me illustrate this example with a imagine, a B2B party approaches you, they want to buy from you in cash. Rather than typing in their details on the invoice and then realizing there was an error made (and which is also time-consuming), you can ask the client for their GSTIN number. All their details will be obtained from the GSTIN portal and entered into the invoice, in order to meet all the requirements of law. It also helps to make the transactions to go through within the shortest time possible and the information given is accurate and recent.
Consumers also have been made comfortable when involving themselves in cash sales with parties with whom they transact business irregularly or for the first time.
This notification bell makes updating easier with TallyPrime than ever before as it is now located right above the control buttons of the software. This effective feature is easy to use as it provides you with the notifications report all the information from which is not an unnoticeable factor.
The notifications report provides you with a summary of all your notifications together with the date, time, activity, and description. A red dot indicator based at the bell icon reminds user there are new notations, whereby the user is able to view both application level and company level activities in realtime.
These messages are the application level and make you knowledgeable about significance functions such as upgrade and license crucial for the correct functioning of your application.
Company level notification is useful to know certain activities of the companies who have been loaded in TallyPrime like GST status. You’ll never be in the dark as to all the notifications, should you have multiple firms integrated into the system.
The best part? To get to the activity screen directly, just press Enter on any given notification. In terms of an interface, after the completion of the given task, the notification fades away from the report, leaving no mess in the working area. However, if one failed to act on a notification received, it stays in the report to avoid missing out on anything.
This notification system in TallyPrime is therefore optimized to keep you informed and readjusted to what remains relevant in your business environment .
The latest release of TallyPrime brings a suite of features that significantly simplify GST and reporting tasks. From creating ledgers with a click to tracking every GST-related activity, these enhancements are designed to streamline your workflow, reduce errors, and enhance compliance. Embrace these changes and take your business operations to the next level with TallyPrime.
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