Well, Tally is a complete Enterprise Resource Planning system with an excellent grip in accounting features. Although it has many more core features that a business requires but its hold in accounting is truly commendable. Therefore Tally is known more for accounting rather than any other of its features.
If I have to mention a single software for a business need even if the business is just starting out, Tally is the one which I would recommend. The reason for this recommendation is because Tally does all the things that a business at a time of starting up requires. And, not just business, but you can use Tally for your personal accounting also. For example, let’s say, you are a salaried person and have investments in shares, mutual funds and some other real estate investments.
1. You can easily pass entries for your monthly salaries. – Receipt Entry
2. Easily pass the entries for Stock Market and Mutual Fund Investments (along with capital gains) – Stock Market Entries
3. You can also pass entries for investments in Real Estate. – Normal Payment Entry
And the best thing is that you do not have to prepare Balance Sheet or Profit and Loss Accountor any of the reports because they are automatically prepared while you are passing the entries.