We are happy to announce TallyPrime Release 3.0, packed with an array of exciting features that make data analysis, payment requests, and data management a breeze. This release also brings enhanced GST features, including a simplified experience for GSTR-1, GSTR-2A, and GSTR-2B reconciliation, ensuring a seamless and delightful user experience. Furthermore, the Income Tax Computation report has been updated with the latest income tax slab rates based on the Finance Budget 2023-24.
TallyPrime the next-generation business solution that succeeded Tally.ERP9 and was launched in December 2020, has undergone numerous enhancements and updates, such as Audit Trail, Digital Signature, E-way Bill, E-invoicing and more.
Now, TallyPrime takes another leap forward with Release 3.0. Let’s explore the new features:
Multiple GSTN in a Single Company Data
File GST Returns for each GST registration separately using GST reports within a single Company data.
Say goodbye to the hassle of maintaining different Company data for each GST registration and save valuable time.
GSTR-2A Reconciliation
Reconciling your transactions in GSTR-2A with your supplier’s transactions is now even simpler.
Import GSTR-1 or GSTR-2A from JSON files, in addition to MS Excel and CSV.
Manually mark transactions as Reconciled or Mismatched and track modified reconciled transactions.
Specifying GST Details
Flexibly specify and update GST Rate and HSN/SAC details separately in different types of masters.
Easily update GST registration details for a party.
Specify slab rates in stock items, stock groups, ledgers, or groups as required.
New Report Filters
Quickly access and analyze business information with enhanced report filters.
Discover filters easily with just one click,
covering a wide range of business scenarios.
Blazing Speeds for GSTR-1
Experience faster opening of GST Returns for quick reference.
Streamlined filing of GST Returns with enhanced GST reports like GSTR-1 and GSTR-3B.
Enhanced Data Management Experience
Seamlessly migrate, repair, import, and synchronize data with improved data management facilities.
Monitor the progress of activities and resolve exceptions with detailed visibility.
Highlights – TallyPrime Release 3.0
Multiple GST Registrations in a Single Company
Multiple GST registrations within a single company data offer a more streamlined GST Return-filing experience, allowing separate filing for each registration using GST reports of the same company data. This eliminates the need to maintain multiple company data for different GST registrations, resulting in significant time savings when preparing GST Returns. The key advantages of maintaining all GST registrations in one company are as follows:
• You can easily create GST registrations within the company, providing all necessary details such as State, Address Type, Registration Type, GSTIN/UIN, Periodicity of Return filing, Place of Supply, E-invoice and e-Way Bill applicability, Reconciliation configuration, LUT/Bond Details, and other related information.
• Record transactions based on the specific GST rules applicable to each registration, ensuring compliance with different GST requirements.
• Create separate voucher series for each GST registration, preventing conflicts with voucher numbers.
• Access GST Return reports more efficiently, as they are displayed with improved speed for quick reference.
• Export GST Returns for specific registrations or all registrations as needed, facilitating seamless compliance with tax authorities.
• Use specific GST registration credentials for logging in to e-Invoice and e-Way Bill activities, ensuring accuracy and compliance in document generation and movement.
Reconcile Transactions in GSTR-1, GSTR-2A, and GSTR-2B
Reconciling transactions in GSTR-1, GSTR-2A, and GSTR-2B with your suppliers’ transactions has now become even simpler, ensuring alignment between your books and the GST portal. The reconciliation process is further enhanced with the ability to identify potential matches for unreconciled transactions in your records, streamlining the entire process.
Key features of the updated reconciliation process include:
• Importing JSON files for GSTR-1, GSTR-2A, and GSTR-2B, facilitating seamless data integration.
• Reconciling transactions after importing them from the GST portal, even if they belong to a different Return period, with the option to update the Return Effective Date.
• Specifying a threshold limit for mismatches, allowing you to manage discrepancies more effectively.
• Ignoring prefixes of zeros or special characters in the Document No. for GSTR-2A and GSTR-2B reconciliation, simplifying the matching process.
• Configuring the prefix used by a party in Document No. or Invoice No. for reconciliation in GSTR-2A and GSTR-2B.
• Manually marking transaction statuses as Reconciled or Mismatched as per your requirements.
• Considering the Supplier’s Invoice No. and Date as Document No. and Date for reconciliation in GSTR-2A and GSTR-2B, ensuring accurate matching.
• Identifying reasons for the unavailability of Input Tax Credit in GSTR-2B, providing valuable insights for tax credit management.
Quick access to business information with Report Filters
Accessing essential business information and conducting data analysis has been significantly expedited, simplified, and made more enjoyable through the implementation of a versatile filter facility that boasts the following attributes:
• Highly discoverable, ensuring easy and quick access.
• Accessible with just a single click, reducing navigation time.
• Expanded to cater to a wide array of business scenarios.
With the enhanced report filters, you can now:
• Effortlessly search for information across all fields or a specific field in both transactions and master records, based on your requirements.
The search encompasses an exhaustive range of fields, including but not limited to:
o GST details such as GSTIN/UIN, GST Rates, HSN/SAC codes.
o Supplementary details fields.
o e-Way Bill and e-Invoice-related information.
• Choose from various types of filters, depending on the specificity and complexity of the information needed:
o Basic Filter, functioning as a quick search engine.
o Multi-Filter, allowing you to apply multiple search criteria for more refined results.
o Advanced Filter, enabling you to add complex search criteria across masters and transactions.
• Instantly view Filter Details with a single click, gaining insights into the filters applied in a report.
• Set a default filter for any report based on its frequency of use within your organization, streamlining your workflow and saving time.
TallyPrime introduces the revolutionary Payment Request feature, allowing you to effortlessly generate and share payment links and QR codes (via Payment Gateway or UPI), revolutionizing the way you handle payments. Your parties can now settle payments with you instantly and conveniently.
Key features of Payment Request include
• Instant Payment Request: With a simple setup, TallyPrime enables you to generate and send payment links and QR codes seamlessly within your regular business workflow. No more delays or hassles!
• Flexibility to Suit Your Needs: We understand that each business has unique payment requirements. TallyPrime offers multiple flexibilities to tailor the Payment Request process according to your specific needs.
• Seamless Reconciliation: TallyPrime takes the hassle out of reconciling your Payment Requests. The Payment Reconciliation report provides a clear summary of both reconciled and unreconciled transactions, streamlining your financial management.
• Top-notch Data Security: We prioritize the safety of your financial data. To ensure maximum security, TallyPrime has partnered with renowned Payment Gateways that adhere to the best-in-class security policies. Rest assured, your payments are in safe hands.
Experience the convenience, security, and efficiency of TallyPrime’s Payment Request feature, empowering your business like never before.
In conclusion, TallyPrime Release 3.0 offers significant enhancements and improvements to streamline your business processes. However, there are many more exciting features waiting for you to explore. As a Tally Certified 3-Star Partner for the past 15 years, TallyUnnati has assisted thousands of businesses in maximizing their efficiency with Tally. Save a significant amount of time and money for your business with our Tally Software Service.
For more information on TallyPrime Release 3.0, reach out to us at 9820979288/9820989288 or email us at sales@tallyunnati.com.