TallyPrime: What’s New in 6.1

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TallyPrime 6.1 launches the Invoice Management System (IMS), which simplifies ITC tracking with features like consolidated invoice views, action status updates, IMS-ITC Summary, and GSTR-2B recomputation. Apart from IMS, you get many delightful offerings such as a comprehensive Edit Log Summary, MSME form updates, GST enhancements, and smarter bank reconciliation. Stay on Top of Your ITC with IMS IMS in TallyPrime offers you complete control of your ITC. With intuitive reports and action-based processes, you can reconcile invoices, set statuses, and file returns with confidence, all within your regular accounting flow. Easy invoice review : View supplier invoices as per the GST portal, in a comprehensive  IMS Inward Supplies report  ( ). Clearly identify the matched, mismatched, and missing invoices. Set Action Status :  Mark invoices  as Accepted, Rejected, Pending, or No Action, based on reconciliation ( ). Ensure that only valid ITC is considered in GSTR-2B & ...
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Tally Prime What’s New in 6.0

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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.

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