The new Tally.ERP 9 Release 5.3.8 is available now!

Tally.ERP 9 Release 5 offers you a wide range of product enhancements aimed to make business management far easier and simpler for you. Release 5.3.8 is the latest release under the Tally.ERP 9 Release 5 series, that delivers a magical migration experience to help users to seamlessly migrate to the latest release.

Please note that Release 5.3.8 is applicable for selected states within India, namely

• Goa
• Gujarat
• Haryana
• Karnataka
• Kerala
• Maharashtra
• Odisha
• Puducherry
• Punjab
• Rajasthan
• Tamil Nadu
• Telangana
• Uttar Pradesh
• West Bengal

Service Tax

Krishi Kalyan Cess Compliance

As per the Budget 2016-17, Krishi Kalyan cess of 0.5% will be levied on all taxable services, with effect from June 01, 2016. The service tax rate including Krishi Kalyan cess is 15%.

Krishi Kalyan Cess master and transaction experience is now available in Release 5.3.8. With this you can account for Krishi Kalyan Cess in all transactions recorded from June 01, 2016.

About Krishi Kalyan cess

• Krishi Kalyan cess of 0.5% is levied, collected, and paid to the government on all taxable services.
• Krishi Kalyan Cess is levied in addition to Service Tax and Swachh Bharat Cess.
• Like Swachh Bharat cess, Krishi Kalyan Cess is separately chargeable on invoices.
• Input Tax credit of Krishi Kalyan cess is adjustable against Krishi Kalyan cess payable on services provided.

Highlights :

• Powerful and simplified statutory functionality brings to you the best solution to manage your taxation in the simplest and most efficient manner. Release 5 gives you the experience of a hand-prepared return with intuitive intelligence designed to help you generate 100% accurate returns in a matter of minutes. With Release 5, you enjoy the complete flexibility to configure tax rates and classifications as applicable to your business as well as a simple and easy experience to record transactions. What’s more, it also enables you to save your finalized returns which will help you to either modify them or prepare revised returns as appropriate.
  Migrate to Tally.ERP 9 release 5.3.2 quickly with the all new Tax Rate Setup tool. Easily view and specify VAT rates and excise tariffs, and start recording transactions in no time at all.  Using the Tax Rate Setup tool ensures maximum productivity in business operations by making the entire process of setting VAT or excise tariff rates effective, and quick.
• On-Demand Data Synchronization that gives you the ability to share information across your locations in a simple, reliable and secure manner, without the need to be simultaneously connected to each other. This completely eliminates the need for intensive and rigid schedules; delivering the benefit of sheer convenience in your hands. Release 5 takes advantage of the Tally Software Services for synchronisation of master information as well as transaction data across locations and ensures that creation, modifications and deletions are appropriately updated.
• Comprehensive post-dated cheque management wherein you can flexibly track and record post-dated cheques which are automatically regularised on the due date. What’s more, you enjoy full visibility of PDCs issued and received along with their real-time accounts; enabling accurate and informed cash planning.
• New Migration experience: Release 5 also offers you quick, easy and seamless migration of business data. The system will automatically populate all relevant information such as tax information, MRP etc. and migrate your data accordingly; enabling you to immediately begin your billing process after migration.
• Lighter and Swifter Tally.ERP 9 ensuring a highly optimised system memory usage, hassle free and efficient product update experience delivering only those updates which are relevant to you.
• One click zero-configuration installer that greatly simplifies the installation process and reduces the set-up time so that you are up & running in seconds.
• Robust Licensing enables multiple users to use the same single user license to access data, one user at a time.
• Over 2000 product enhancement & issue resolution requests are addressed to further improve the Product Stability and Completeness.

Product Improvement :

Accounting Vouchers

Despatch doc No. was being printed as G.R.No in sales invoice for all states, resolved: Despatch doc No. entered in the Party Details screen of a sales invoice was printed as G.R No. for states other than Punjab, Tamil Nadu, and Chandigarh.

The issue of the round off value against a round off ledger in an invoice was appearing blank, resolved: The round off value in an invoice created by selecting a voucher type was appearing blank when,

• A voucher type was created with the options Enable Default Accounting Entries and
  Set/Alter Default Accounting Entries set to Yes, and
• In the Default Accounting Entries screen, the round off ledger was selected with
  Type of Calculation as any option other than As User Defined Value and,
• The invoice was created by selecting the voucher type, and the invoice amount with decimal was entered, the value against round off ledger was appearing blank.

Inventory Reports

• An error message “Action execution failed” was being displayed on pre-closing large number of orders, resolved: Now, the error message is not displayed on pre-closing large number of orders.

Accounting Reports

The issue of mismatch in balance sheet totals if a transaction was passed after a post-dated transaction was paid, resolved: When a post-dated transaction was passed, and if the company was closed and reopened before making payment for the same and,

• If a non-post-dated transaction was passed on the same day,

• then, there was a mismatch in the balance sheet totals.

 And more…

Tally.ERP 9 Feature Summary:

• Quick to install and allows incremental implementation
• Easy to customise
• Powerful remote capabilities to boost collaboration
• Audit & compliance services
• Integrated support centre
• Security management
• Statutory processes
• Manufacturer’s excise
• Payroll

Click here for release notes

Click here for download