Running a business requires more than just bookkeeping. It also includes processing payments, tracking cash flow, and ensuring reconciliation is accurate. While computing accounting functions has become increasingly automated, dealing with bank interfaces remains a manual challenge. Midsize corporations repeatedly resort to multiple point solutions to handle transactions, creating further inefficiencies, errors, security risks, and more work.
Banking and accounting have traditionally been on different ends of the spectrum, forcing companies to deal with different interfaces. Gaps in business processes created by a lack of integrated banking tend to negatively influence operating efficiency. TallyPrime 6.0 integrates both functions into one application, allowing businesses to not only manage transactions, but also process payments and reconcile without changing their workflow, integrated banking capabilities. It improves the visibility of cash flow, reduces manual effort, and weakens comprehensive business financial management.
Complete bank reconciliation – Stay aligned with your banking institution
TallyPrime enables seamless accounting and synchronizes books based on banking transactions with its automated matching engine which performs reconciliations. TallyPrime’s smart suggestions make it easy to match and rectify a vast majority of unreconciled transactions with few adjustments. This not only accelerates post reconciling audit treatments to advance closes, but ensures real-time appraisals keeping lenders in the know. TallyPrime supports all the statement files of over 145 banks in India and multiple file-exporting options makes import onto the software seamless.
Automated accounting using bank statements – Accounting Made Easy
Accounting of payment and receipts voucher is further simplified with TallyPrime 6.0. Everything from importing bank statements to giving ledger names or tagging bank ledgers can now be done with a single click. This eliminated workflow ensures that repetitive data entry is done away with and additional details or bill allocation can be added while making vouchers. This adds accuracy and improved record keeping.
Integrated payments and accounting – Payments Done Precisely
Transactions and payments controlling have been made easy with TallyPrime 6.0. Automatic payments recording is possible with two supporting banks in India. Users can easily make payments directly in TallyPrime, create bulk payment files formatted to specific instructions given by the bank, and upload to the bank portal. Such integration aids in making processes simpler, quicker, convenient, and less prone to mistakes. Users can change the transaction status from the bank to TallyPrime and send the payment advice to the suppliers which helps in smooth tracking, reconciliation as well as communication.
Connected Banking – Banks Have Leapin Integrated Into TallyPrime
Partners bank accounts can now log into real-time connected to partner banks with TallyPrime 6.0. Banking has been brought into the Accounting system.After utilizing bank-level authentication, you won’t have to log into your bank portal anymore; Tally enables you to view live balances and transactions, enhancing your business operations. Additionally, you can access working capital loans offered through alliances with various financial institutions which helps both your operations and business growth.
Easy collection – Enhanced collections
Expand cash flow and Automate collections by issuing UPI dynamic QR codes or embedding payment links within invoices due to two payment gateway integrations.
Real-Time cash flow insights
Bank accounts and transactions are monitored using TallyPrime enabling customers to leverage their cash reserves and manage their business finances proactively and efficiently on-demand.
Enhanced operational efficiency
Strategic work becomes more feasible while manual work as well as TallyPrime accounting accuracy and speeds are improved.
Revised transactions and payments management
Making Online payments on TallyPrime more convenient, permits fast uploads of bulk payment files to the bank portals after generating them in bank specific formats. Everything is updated in real-time ensuring accurate transaction synchronization.
TallyPrime’s Integrative Approach for Improved Financial Decision Making
Having TallyPrime minimizes delays since all the financial information is kept in one location, offering visibility on the required information instantly for timely and accurate decisions.
The firm’s development is aided by streamlining access to working capital loans.
Automated accounting and manual audit readiness
Integrated banking information improves the efficiency of audit and financial reporting. Time is saved due to automated reconciliation and accurate pre-audit reporting ensuring readiness.
Support expansion scalability
With TallyPrime, business growth is easily harnessed because the software automates essential financial tasks that require manual attention. You can advance with speed and have financial control at the same time.
TallyPrime 6.0 improves the convenience of managing finances by incorporating bank interfacing with accounting, which helps businesses reduce time, cut unnecessary steps, and enhance decision-making. With more insights, real-time monitoring of transactions, automated reconciliation of bank balances, and easier processing of payments enabled by TallyPrime, smoother operational cash inflows, business cash flow, and business growth is experienced. This level of financial control offers long-term success.
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