In recent decades, technological advancement has been occurring at an exponential rate. As a result, several facets of corporate operations—including accounting—have evolved. Accounting requires calculations, and processing your data through a computer dramatically increases accuracy and decreases error margins. Thanks to today’s more effective tools and specialized accounting software, data input, processing, and analysis are completed more quickly.
Accounting responsibilities such as data analysis, economic activity assessment, and financial information organization have never been easier to handle. The advent of networked technology and speedier software with more sophisticated features have made accounting more efficient. For instance, as an accountant, accounting software such as Tally enables you to monitor and control all aspects of your business, including accounts, sales, debts, and other related matters.
Entrepreneur Shyam Sunder Goenka was from India. He created one of the first software firms in India, Tally Solutions, and served as its executive chairman. Before that, he had a business that provided machine components and raw materials to Indian industries and textile mills.
Since he could not find any software to manage his financial records, he requested that his son, Bharat Goenka, who studied maths, create a software program to handle the financial records for his company. Bharat Goenka, a graduate in mathematics, had a natural aptitude for creating accounting software.
His life completely turned around when his father gave him an IBM PC in 1984. Mr. Bharat Goenka created a software application devoid of any coding. The accounting program was first made available as an MS-DOS application. The program was named “Peutronics Financial Accountant” and had just the most basic accounting features.
1986 he and his father started Peutronics, renamed Tally in 1988. Bharat Goenka is managing director at Tally Solutions, a technology and innovation-focused firm offering business solutions to small and medium-sized enterprises worldwide. According to the corporation, over 1.8 million customers use the company’s business accounting software.
The following are the primary advantages for businesses using this accounting software:
This program is used daily by thousands of small- and mid-sized business owners, accountants, and decision-makers in many sectors. One of the best programs for handling your finances is this one, which also helps with fund tracking, variance analysis, company consolidation, receivables tracking, and branch accounting.
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