The latest release of TallyPrime brings a fresh breeze of simplicity to managing GST and reporting. With new features designed to save time, reduce errors, and enhance compliance, TallyPrime is a must-have for any business. Let’s dive into the four standout features that are transforming the way businesses handle GST and reporting.
1. Create ledger via GSTIN (single and multi-ledger)
If you’re running a thriving business, you likely have a long list of parties in your network. Creating and managing ledgers for these parties can be a tedious task. But with TallyPrime’s latest release, you can now create or alter party ledgers with just a few clicks. The new ‘Fetch Details Using GSTIN/UIN’ feature allows you to instantly fetch and update party details directly from the GST portal.
This feature not only saves you time but also ensures the accuracy and recency of the information. All you need to do is enter the GSTIN/UIN, and TallyPrime takes care of the rest. From names and addresses to PAN details, everything is fetched in real-time. And not just that, creations of ledgers in bulk can also be done by uploading multiple GSTINs from Excel and fetching the details for all from the GST portal. This seamless integration between TallyPrime and the GST portal makes filing, downloading, reconciliation, permissions, and validation easier. Now, you can handle all your GST-related activities within TallyPrime without needing to access the GST portal.
2. Fetch GST details including the filing status
Imagine that you’re negotiating with a potential customer and want to ensure they are compliant with GST regulations. With the latest release of TallyPrime, you can quickly check their filing status for the past six months, including the return period, filing date, mode, and status (active, inactive or cancelled). If the customer is a regular dealer, you can view details for GSTR-1 and GSTR-3B filings. For composition dealers, you can check CMP-08 filings. This level of detail helps you make informed business decisions and fosters better communication and trust with your clients.
3. Fetch GSTIN details for cash sales transactions
Imagine a scenario where a B2B party comes to buy from you with cash. Instead of manually filling in their details on the invoice (with the risk of errors), you can simply ask for their GSTIN number. All their details will be directly fetched from the GSTIN portal and added to the invoice. This not only speeds up the transaction process but also ensures that the information is accurate and up-to-date.
4. Notification icon
With TallyPrime, staying updated is easier than ever, thanks to the new Notification Bell icon prominently placed at the top of your screen, right next to the control buttons. This simple yet powerful feature gives you direct access to the notifications report, ensuring you never miss an important update.
The notifications report offers a comprehensive view of all your notifications, complete with details like date, time, activity, and description. A red dot indicator on the bell icon alerts you to new notifications, allowing you to see both application-level and company-level events in real-time.