TallyPrime 6.0 launches a transformed Banking experience with an exciting new capability: Connected Banking. With enhanced Bank Reconciliation and automated accounting using Bank Statements, you can now devote quality time to the growth of your business.

Data Split is also much smoother now, with robust data verification. You can make the most of the new Profile feature, where you can easily update your contact details & receive timely communication.

You also get a host of enhancements across GST, TDS, and VAT, which will make your experience with TallyPrime even more fruitful.

 

Transform Banking for Your Business

TallyPrime Release 6.0 makes banking delightful with an enhanced Bank Reconciliation and Connected Banking. The enhanced Bank Reconciliation offers numerous facilities for matching book transactions with bank transactions, which keep your books in sync with your bank. Connected Banking helps you reduce time and effort consumed in various banking activities.

Key Features

• Enhanced Bank Reconciliation: Save time and improve accuracy by automatically reconciling exact matches. You also get smart suggestions for potential matches to your book transactions.
• Automated Accounting Using Bank Statements: Create vouchers using bank data in just a few clicks. This eliminates repetitive data entry and makes accounting easier.
• Integrated Payments and Accounting: e-Payments now comes with a new and simplified report, which integrates accounting and reconciliation. This enables flexibility and better tracking of your e-Payments for more than 18 banks.
• Connected Banking: Improve cash flow visibility and enable swift decisions with Connected Banking. Connect your bank accounts to TallyPrime with top-tier security, and access real-time bank statements and balances directly within TallyPrime.

Enhanced Bank Reconciliation

The enhanced bank reconciliation enables intelligent matching between your book and bank transactions.

• Auto-reconcile exact matches while importing the bank statement, or choose to reconcile them later. You can easily configure this in your bank ledger.
• Set the rules for Potential Match as per your business needs. This helps in easy reconciliation of matching transactions.
• Find a match for a single or multiple transactions from the unreconciled transactions.
• For reconciliation, select one or multiple transactions from your books against one or multiple transactions from the bank.
• If you prefer manual reconciliation, then you can continue to reconcile your transactions manually as before.
• If you are doing reconciliation for the first time, you can set a reconciliation date and add unreconciled transactions to the Opening BRS  report. These transactions will then appear in the Bank Reconciliation report and are ready for reconciliation.
• If you Split a company, the unreconciled book and bank transactions automatically appear in the Opening BRS report.

 

Automated Voucher Creation using Bank Statements

Create vouchers at one go using entries from imported bank statements. Automated voucher creation comes with great flexibility, as you can:

• Create multiple vouchers  with a common or separate ledgers.
• Merge multiple transactions to create a voucher with the consolidated amount.

What’s more, all the key information, such as narration, instrument number, instrument date, and amount, gets automatically filled. This significantly reduces the time and effort.

New and Revamped Banking Reports

Bank reconciliation is further simplified with new and enhanced reports such as Banking Activities, Bank Reconciliation Summary, and Bank Reconciliation.

• The new Banking Activities report provides an overview of all your Bank Ledgers. You can view the pending actions related to Bank Reconciliation and e-Payments.
• In Banking Activities, you can drill down to the Bank Reconciliation Summary for specific banks. The report displays book and bank balances, withdrawals, deposits, and unreconciled e-Payments.
• From the unreconciled transactions in Bank Reconciliation Summary, you can drill down to the Bank Reconciliation report. This enables you to manage and reconcile your book and bank transactions with great ease.
• From Banking Activities, you can also drill down to view the e-Payments report, which comes with a brand-new look. Drill down further to correct any details or check the payment status, before exporting from TallyPrime.
• Reports like Ledger Voucher and Day Book now include banking-related data, such as account numbers, payment methods, and transaction details. This helps in better tracking of the payment and reconciliation status, along with the instrument number and date of the transactions.

 

A Secure & Versatile Connected Banking Experience

With Connected Banking, you do not need to log in to multiple bank portals to access your bank accounts. With a single, secure login to Connected Banking using your Tally.NET credentials, you can connect all your bank accounts to TallyPrime. You can then:

• Check bank balances right from TallyPrime in a matter of seconds.
  This helps you view your bank balance instantly when you want to send payments to vendors, and compare the balances between your books and bank account.
  What’s more, you can view the bank balance in reports such as Ledger Vouchers and Group Summary.
• Get bank statement online and use it for bank reconciliation.

To know more, refer to the Connected Banking topic.

Other Enhancements in Banking

Bank data in your Company books

You can import bank data for more than 145 banks in India and 80 banks across Asia, Africa, and North America. The imported bank details are stored in your Company data for your quick reference and reconciliation, which makes audits easier.

e-Fund Transfer Mode for e-Payments

For e-Payments, you now have the flexibility to set the e-Fund Transfer Mode, such as IMPS and NEFT, as per the voucher amount. The best part is, the e-Fund Transfer Mode gets automatically applied to vouchers.

Bank and reconciliation details in payments and receipts

Payments and receipts now contain all the bank and reconciliation details. You can conveniently refer to these details during voucher creation and alteration.

Dashboard tiles for Connected Banking and reconciliation

View banking-related tiles with information such as the transactions pending for reconciliation and the balance as per your bank.

Bank-related details in Edit Log

In Edit Log, you can now view the changes in Bank Date, Instrument Number, Instrument Date, and even the UPI ID of your customer.

Split Your Company Data with Ease

TallyPrime Release 6.0 comes with an updated Data Split feature that is much simpler and convenient to use. With updated screens, new Split options, a data verification prompt, and enhanced data verification, you can now proceed with data splitting more smoothly.

Creation of a single company after Split

The updated Split process helps you create a single company for easier and more secure data management. If you have a large volume of data, you can create a new company with the latest data. This helps you run your business smoothly and significantly improves your performance.

The best part is, you still have the flexibility to choose the traditional two-company Split, based on your business needs. This will create one company for compliance purposes and another one with the latest data to continue with your business transactions.

Moreover, the new progress bar gives you great clarity about the stages and the progress of the Split process.

Enhanced data verification

Data verification is now enhanced to handle many more errors in vouchers and masters, which ensures a smoother Split. Also, to reduce the chances of errors and improve accuracy, you will now receive a prompt to Verify your data before initiating the Split process.

To know more, refer to the Split Data in TallyPrime topic.

Other Enhancements in Split & Verify

The following issues have now been resolved:

• Out of Memory or Memory Access Violation error, while resolving errors during data verification in TallyPrime
• Slow performance, delays, or stoppages, while splitting vouchers in TallyPrime Edit Log
• Temporary overflow of Tally limits. Restart and continue error, while verifying data in TallyPrime Edit Log Release 4.0

Easily Manage Your Profile Details

TallyPrime 6.0 introduces the new Profile feature, which enables you to view and update the contact details linked to your Tally Serial Number. Accurate contact information ensures you receive timely communications and updates.

Key Highlights

• View & Edit Profile: Easily manage your contact details within TallyPrime.
• Tally Portal Access: Quickly navigate to the Tally portal for additional updates.
• Reminders: Receive notifications twice a year, reminding you to check and update your profile details.

Keep your profile up to date for smooth communication.

 

Enhancements in GST

• GSTR-1 filing is more intuitive now, ensuring you upload the return before filing. This prevents Nil Returns, which can occur when GSTR-1 is filed without uploading the return.
• The TXPD section of GSTR-1 now displays the details more accurately. The amounts are correctly matched without any further action from your side.
• You can now seamlessly copy B2B sales invoices from one company to another, using F3 (Company). Such invoices will no longer appear as Duplicate Voucher Number in GSTR-1 and GSTR-3B.
• TallyPrime now supports the new Excel Offline Utility version 5.4 for GSTR-3B. You can now view all the ITC-related information correctly under the respective categories. Earlier, this information was appearing under the e-commerce row of Section 3.1.1.
• Transactions with URD bank ledgers and exempt expense ledgers will now appear correctly in GSTR-3B, under Exempt, Nil Rated, and Non-GST Inward Supplies. Earlier, such transactions appeared under Uncertain Transactions.
• For Cess on Quantity, round-off and decimal values will now be calculated correctly in transactions. Earlier, such transactions were marked as mismatch or incorrect tax amount.

Seamless TDS Calculation

When TDS values are updated in transactions, the details will now appear correctly. Earlier, when TDS values were updated, there were issues in Dr & Cr and TDS ledger values.

Enhancement in VAT Report

The VAT report will now appear correctly for all Indian States and Union Territories. Earlier, the VAT report was not appearing for Puducherry, Haryana, Telangana, Chandigarh, Dadra & Nagar Haveli and Daman & Diu, Kerala, Ladakh, Sikkim, Tripura, Uttarakhand, Uttar Pradesh, and West Bengal.

TallyPrime Edit Log Release 5.0 | What’s New!

Indian users can easily upload and file GST returns with Connected GST, automate tax calculations under TDS Section 194Q, and manage Tally Plug-Ins directly from TallyPrime.

Users in the Middle East and Bangladesh can benefit from TallyPrime in their native language, with the option to use the preferred language on different computers in a network.

You can sort bills your way, enjoy clearer invoices and reports with Stripe View, and get instant notifications for important tasks.

There are significant product improvements as well.

 

Master Your Accounting & Compliance Needs with Connected GST

Welcome to an effortless GST compliance experience. Balancing your books with GST requirements is now easier than ever, all within the existing flow of TallyPrime.

Key features

• Simpler Uploads & Downloads: Upload GSTR-1, GSTR-3B, and CMP-08 directly from TallyPrime to the GST portal. Download GSTR-1, GSTR-3B, GSTR-2A, and GSTR-2B in just a couple of clicks.
• Effortless Filing: File your GSTR-1 directly from TallyPrime without even opening the portal. Choose your filing method such as DSC or EVC.
• Real-Time Party Information: Swiftly create and validate party ledgers using real-time details from the portal. No more manual entry of party information. Just fill the GSTIN/UIN of the party.
• Key Insights on ITC: Track your ITC at risk with great accuracy for one or even hundreds of suppliers using Bills Payable. Similarly, with Bills Receivable, track the status of invoice uploads against the pending bills of a party. Gain further clarity with detailed reports such as Ledger Vouchers – GST and Ledger Outstandings – GST, and other predefined saved views.

Benefits

• Resolve mismatches and rejections effortlessly to ensure smooth filing and upload or download.
• Save time with automated processes, such as upload, download, and party validation, which are securely connected to the GST portal.
• Stay informed with real-time clarity in your compliance and financial transactions directly within TallyPrime.
• Ensure compliance with minimal effort, leaving you with more time to focus on your business growth.

The best part is that you can choose from the best of both worlds, that is, Connected GST as well as the existing offline features, as per your convenience.

Maintain B2CL Invoices as per Latest Threshold Limit

You can now easily maintain your B2CL transactions as per the latest Threshold Limit, which is reduced from Rs 2.5 lakh to Rs 1 lakh (vide Notification No. 12/2024 – Central Tax).

You only have to set the Effective Date for your transactions, after which they will appear seamlessly in the B2C (Large) Invoices – 5A, 5B section of GSTR-1.

Automated Tax Calculation to Comply with TDS Section 194Q

Experience a hassle-free deduction of tax to comply with the Finance Bill’s Section 194Q for TDS purchases of goods. This includes:

• Automated computation of TDS on purchases exceeding Rs. 50 lakhs annually, based on the Nature of Payment.
• Handling TDS exemptions on purchases from Government entities eligible for exemptions under Section 194Q.
• Updating TDS Nature of Payment for one or more parties from a common report within Form 26Q.
• Recording advance payments from parties with TDS-integrated Stat Adjustment option for better reporting in Form 26Q.

Tally Plug-In Management Within TallyPrime

Tally Plug-Ins developed by Tally Solutions come with additional capabilities for specific business needs that extend beyond the existing features of TallyPrime. Get easy access to Tally Plug-Ins, such as TallyCapital, which will be available to customers of TallyCapital partners. Know about the plug-ins, check plug-in statuses, and more from the new Tally Plug-In Management report.

Use the TallyCapital plug-in to check your credit score, check your loan eligibility, and apply for a business loan, whenever you need one. Get in touch with your Tally Partner to know more.

Use TallyPrime in Arabic

TallyPrime now supports Arabic with enhanced features, which provides users with an enriched experience.

• Change Language to Arabic: You can now have a seamless experience of changing the language and working in your preferred language.
• Simultaneously use Arabic & English: Each user in a multi-user environment can work in their preferred language simultaneously and can change the language at any point of time without losing out on any work. Use language alias in masters to work seamlessly without the barriers of language. This enables each user to view reports in their preferred language.
• Printing Amount in Words in Invoice: Print the amount in words in Arabic as accurately as you print the numbers. Using this feature, all your vouchers will appear in perfect Arabic.
• Accurate VAT calculation: You can now create all the masters in Arabic and use them while recording transactions, ensuring accurate VAT calculation.

You can also make use of the existing flexibility, where you can use TallyPrime in English and record transactions and create masters in English or Arabic. As always, you can print invoices in the respective language or in bilingual as per the need.

Navigate and operate TallyPrime in Arabic and enjoy accounting with the power of simplicity. To know more about this feature, refer to Use TallyPrime in Your Preferred Language.

Use TallyPrime in Bangla

TallyPrime now supports Bangla, enhancing the ease of usage, especially among native speakers.

• Change Language to Bangla: You can now have a seamless experience of changing the language and working in your preferred language. Each user in a multi-user environment can work in their preferred language simultaneously and can change the language at any point of time without losing out on any work.
• Print Invoices and Reports: You can now print your invoices and reports in Bangla by including language aliases during master creation. Additionally, now you can print amount in words in Bangla too.

Navigate and operate TallyPrime in Bangla and enjoy accounting with the power of simplicity.

Sort Pending Bills to Manage Payments Effectively

TallyPrime Release 5.0 offers an efficient payment management system that enables sorting of pending bills. Now make payments promptly in the order of due dates, with the oldest bill being settled first. Thereby, this reduces the risks of late fees and penalties. You can also sort the bills based on other fields like Bill Date, Balances, and so on, as per your business practices.

Enhanced Readability of Reports and Vouchers with Stripe View

TallyPrime introduces Stripe View that is designed to improve readability of entries in reports with large volume of data, by highlighting alternating rows. You can also use Stripe View for all vouchers & reports, or for only specific ones. Use stripes while printing, exporting or sharing documents from TallyPrime, as and when you need to.

View Instant Notifications Using the New Bell Icon

Enjoy an enhanced notification experience in TallyPrime 5.0. The Bell icon and the Notifications report are designed to notify you about critical tasks such as TSS renewals, License management, and TallyPrime upgrades. Similarly, Indian users can stay informed about GST uploads, downloads & Return filing.

You can now:

• Receive timely notifications on multiple activities through a single report, and stay on top of your business responsibilities.
• Take necessary actions directly from the Notifications report, reducing the need to switch between screens or modules.
• Configure when to show the Red Dot on the Bell icon.

Other Enhancements

Seamless movement of data to the latest release

Moving your Company data from TallyPrime Release 3.0 or later to Release 5.0 does not require any migration. Simply take a backup & load the data, and continue with your day-to-day business activities. TallyPrime updates the data version, which prevents you from loading the same data in any earlier versions of TallyPrime.

Changes as per Finance (No. 2) Bill 2024-25

TallyPrime 5.0 comes with updated income tax slabs for employees under the New Tax Regime.

As per Finance (No. 2) Bill for 2024-25, employers can now:

• Comply with the latest budget changes.
• Ensure accurate income tax calculation across employee profiles.

Edit Logs for Price Level and Bank Reconciliation

Edit Logs for Price Level and Bank Reconciliation led to excessive increase in data size. This issue is resolved.

WhatsApp your payment and receipt vouchers seamlessly

While sharing Payment or Receipt vouchers, the WhatsApp No. of the recipient will now be automatically filled from the party ledger.

Improved processing of bulk data

Bulk data processing is now faster and more reliable than ever, without any risks of data corruption. This includes processes such as Import, Synchronisation, Bank Reconciliation, and so on.

GST

• Update GST Status of vouchers without interruptions
  You can now update GST-related details in your masters without any interruptions in your day-to-day work.
  Based on your requirements, you can choose to update the GST Status of vouchers either while saving the masters or while opening the GST reports.
• Easy access to GST Registration Details (History)
  Previously, GST Registration Details (History) for a master was available under More Details > Show More.
  You can now view the history directly under More Details.
• Reset Delete Request for deleted or altered vouchers
  After exporting or exchanging a voucher, you may have deleted it or altered some details, such as GSTIN, Voucher No., and so on. Such transactions appeared under Marked for Deletion on Portal.
  Now, you can easily resolve such transactions by resetting the delete request.
• Enhanced management of non-GST transactions
  Previously, you had to manually resolve non-GST transactions, as they appeared as Uncertain Transactions.
  Now, these transactions are directly marked as Not Relevant for This Return in GST reports.
• Fix Uncertain Transactions in bulk
  In GST reports, you can now select multiple Uncertain Transactions and resolve them in one go.
  When you have issues in tax rate, GST registration, or HSN/SAC, you no longer have to resolve them one by one.
• Purchases & debit notes without supplier invoice details
  Purchases and debit notes without Supplier Invoice No. or Date will no longer appear as Uncertain Transactions.
  You can now view them under:
  • Included in Return in GSTR-3B
  • Available in Books in GSTR-2A Reconciliation and GSTR-2B Reconciliation
    

  Moreover, you can easily update the Supplier Invoice No. and Date by drilling down to the transactions in the relevant sections and reconciling them.

• View previously exported transactions in GSTR-1
  While exporting GSTR-1, you can now directly include or exclude the exported transactions using the right button. Previously, the exported data appeared only if you enabled the following option under Basis of Value: Include Transactions where no action is required.
• Export GSTR-2A and GSTR-2B as per old format
  You can now easily export GSTR-2 to Excel in the old GSTR-2A format.
  While exporting GSTR-2A or GSTR-2B Reconciliation, simply enable the option As per old format (GSTR-2).
• HSN/SAC for B2C transactions
  You can now easily configure the applicability of HSN/SAC Summary for your B2C transactions.
  This will help you in preventing uncertain B2C transactions for HSN/SAC.
• HSN/SAC limit based on your annual turnover
  You will now be able to set the length of HSN/SAC to 4, 6, or 8 based on your Annual Aggregate Turnover (AATO).

Track & settle MSME Outstanding Bills based on Activity Type

In the party ledger, under MSME Registration Details, you can now set the Activity Type of the enterprise as Manufacturing, Services, or Traders.
This helps in better tracking and settling of Outstanding Bills based on the Activity Type.

Optimise printing to save paper

You can now enjoy cost-effective printing of invoices.
The optimised invoice printing feature reduces the repetition of headers and utilises maximum space in each page for the invoice details.

Click here for release notes

Click here for download

Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What’s New!

TallyPrime and TallyPrime Edit Log Release 4.1 bring great delight to you with the following offerings:

• The provision to update MSME UDYAM number for a company and its MSME suppliers. You also have the option to quickly gather details of all unpaid bills to MSME suppliers, and easily comply with section 43b(h) of the Income Tax Act.
• The facility to generate the list of all online sales in a return period, as per the changes introduced in GSTR-1.

MSME

With the new MSME feature, both MSMEs and businesses trading with MSMEs can identify MSME status and track pending bills for timely payments. Moreover, buyers from MSMEs can quickly file their Form MSME 1 with complete details of overdue MSME payments. Further to comply with 43b(h) of income tax act, a buyer can instantly generate the list of bills.

Registered MSME Businesses can:

• Set up UDYAM Registration Details received from the department. They can also alter the details and keep track of all such alterations along with the applicable dates.
• Print invoices with UDYAM Registration Details, to inform buyers about your MSME status.
• Get details of due or overdue receivables quickly and send reminders to receive payments on time.

Businesses trading with MSMEs can:

• Set up MSME status of suppliers.
• Identify bills related to MSMEs and make payments before the due date to avoid interest.
• Get information related to MSMEs with overdue payments readily and report the same in Form MSME-1.
• Get details of all unpaid bills to MSMEs to arrive at the deductions not allowed as per 43b(h) of income tax act.

Details of Online Sales Through e-Commerce Summary Report

For businesses doing online sales through e-Commerce operators, such as Amazon, Myntra and Flipkart, some changes have been introduced in GSTR-1, related to the reporting of online sales.

To support these changes, TallyPrime Release 4.1 has come up with an e-Commerce Summary to highlight:

• Taxable values and breakup of tax amounts, such as IGST, CGST, SGST, and Cess
• GSTIN-wise sales for the e-Commerce operators

Thereby, this report will help you in easily entering the relevant details on the GST portal.

Click here for release notes

Click here for download