Traditional accounting landscape was evolved into a digital version of modern accounting with the help of Tally. It made a drastic change in the working of accounting by businesses and firms all around the world.
Not only it helps in managing accounts on a desktop in a digital format, it also provides a great feature of printing bills, invoices, customer orders, purchases, e-way bills, etc. directly from the entries in the system. Which means you don’t need to feed the data after the transaction occurs, but prior to it. This way, you can double-check the invoice or bill before the customer receives the same with the product.
But, with the evolving technology and changing business requirements, businesses have started looking for a better version of the best accounting software in UK. Whether people liked it or not, they were stuck with the Tally accounting software, but now there are better cloud-based accounting softwares available in the market in the UK.
Let’s understand the ways in which modern accounting software is better than tally.
1. Easy Setup
What makes the UK accounting software different from Tally is it’s easiness to get started setup because it is an online software. You can just sign up for the software with the credentials provided, and within 5 minutes your modern accounting gets started. While Tally being an offline software, it needs to be installed on the computer system you want to use for your accounting.
2. Improved Accessibility
The biggest advantage with the UK accounting software is that it can be accessed from any device connected to the internet network. This ability provides you the benefit of accessing your accounting data from any place and at any time, without any permission required from the software provider.
This feature is not available with the Tally accounting software, as the software is installed on the computer only, and you need access from the admin every time you check your accounting data. Also, with the UK accounting software you are not restricted to one person operating the accounts at a time, as the system is a centralized platform which provides multiple users working on the same data.
3. Generating Invoices
Since invoicing is a core part of the accounting process, the UK accounting software allows you to send the invoices directly to your vendors and suppliers through the SMS or email. Also, your GST calculations are also automatically calculated with the respective invoices in-compliance with the existing taxing regulations.
With the tally software, the update needs to be installed separately in your system, whereas, the cloud-based UK accounting software automatically gets updated by the software provider within minutes.
Also, the biggest problem with Tally accounting software is that you need to have a thorough knowledge of the debit and credit and other accounting entries. While the UK accounting software is designed with the functions so intelligently that you just need to fill-in the required fields, and all the sorting and calculations part is taken care of by the software.
4. Easy Data Sharing
As you are aware that the UK accounting software has a centralized-data storage platform, its “User and role” feature allows you to give your account access to different users or employees of your organization, with the option of “view only” or “edit access” according to the needs of the situation.
With tally accounting software, data sharing gets chaotic as you cannot easily transfer or share the data with an offline system, without exporting the data through external sources.
5. Business Tracking
A unique feature has been added in the UK accounting softwares, which is absent in the Tally software – business performance tracking. The feature provides a user-friendly dashboard on its homepage, which helps in tracking the important key financial performance indicators.
This calculation happens automatically by the system, on the basis of the real-time data update happening continuously. You can easily track total receivables, payables, income and expenses, cash flows, balance sheet, sales metrics, etc., with the UK accounting software.
6. Enhanced Data Security
There is an added advantage of shifting to a cloud-based UK accounting software. Do you know what? It acts as an insurance policy which can be cashed anytime and at anywhere, whenever your system faces any virus attack or failure. The UK accounting software with its cloud storage data feature ensures that all of your financial data is safe and secure. It also provides an easy backup of your accounts in real-time.
All of your software details and passwords are encrypted with a 256-bit encryption process, which provides you with bank grade security.
The tally accounting software has become obsolete with the changing business requirements all around the world. With the alternative of UK accounting software, you can easily get your accounting operations upgraded with the help of easy setup, improved accessibility, smart invoices, data sharing, business tracking, and enhanced security features.
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