Tally Prime 5.0

Indian users can easily upload and file GST returns with Connected GST, automate tax calculations under TDS Section 194Q, and manage Tally Plug-Ins directly from TallyPrime.

Users in the Middle East and Bangladesh can benefit from TallyPrime in their native language, with the option to use the preferred language on different computers in a network.

You can sort bills your way, enjoy clearer invoices and reports with Stripe View, and get instant notifications for important tasks.

There are significant product improvements as well.

Welcome to an effortless GST compliance experience. Balancing your books with GST requirements is now easier than ever, all within the existing flow of TallyPrime.

Key features

• Simpler Uploads & Downloads: Upload GSTR-1, GSTR-3B, and CMP-08 directly from TallyPrime to the GST portal. Download GSTR-1, GSTR-3B, GSTR-2A, and GSTR-2B in just a couple of clicks.
• Effortless Filing: File your GSTR-1 directly from TallyPrime without even opening the portal. Choose your filing method such as DSC or EVC.
• Real-Time Party Information: Swiftly create and validate party ledgers using real-time details from the portal. No more manual entry of party information. Just fill the GSTIN/UIN of the party.
• Key Insights on ITC: Track your ITC at risk with great accuracy for one or even hundreds of suppliers using Bills Payable. Similarly, with Bills Receivable, track the status of invoice uploads against the pending bills of a party. Gain further clarity with detailed reports such as Ledger Vouchers – GST and Ledger Outstandings – GST, and other predefined saved views.

Benefits

• Resolve mismatches and rejections effortlessly to ensure smooth filing and upload or download.
• Save time with automated processes, such as upload, download, and party validation, which are securely connected to the GST portal.
• Stay informed with real-time clarity in your compliance and financial transactions directly within TallyPrime.
• Ensure compliance with minimal effort, leaving you with more time to focus on your business growth.

The best part is that you can choose from the best of both worlds, that is, Connected GST as well as the existing offline features, as per your convenience.

Automated Tax Calculation to Comply with TDS Section 194Q

Experience a hassle-free deduction of tax to comply with the Finance Bill’s Section 194Q for TDS purchases of goods. This includes:

• Automated computation of TDS on purchases exceeding Rs. 50 lakhs annually, based on the Nature of Payment.
• Handling TDS exemptions on purchases from Government entities eligible for exemptions under Section 194Q.
• Updating TDS Nature of Payment for one or more parties from a common report within Form 26Q.
• Recording advance payments from parties with TDS-integrated Stat Adjustment option for better reporting in Form 26Q.

Tally Plug-In Management Within TallyPrime

Tally Plug-Ins developed by Tally Solutions come with additional capabilities for specific business needs that extend beyond the existing features of TallyPrime. Get easy access to Tally Plug-Ins, such as TallyCapital, which will be available to customers of TallyCapital partners. Know about the plug-ins, check plug-in statuses, and more from the new Tally Plug-In Management report.

Use the TallyCapital plug-in to check your credit score, check your loan eligibility, and apply for a business loan, whenever you need one. Get in touch with your Tally Partner to know more.

Use TallyPrime in Arabic

TallyPrime now supports Arabic with enhanced features, which provides users with an enriched experience.

• Change Language to Arabic: You can now have a seamless experience of changing the language and working in your preferred language.
• Simultaneously use Arabic & English: Each user in a multi-user environment can work in their preferred language simultaneously and can change the language at any point of time without losing out on any work. Use language alias in masters to work seamlessly without the barriers of language. This enables each user to view reports in their preferred language.
• Printing Amount in Words in Invoice: Print the amount in words in Arabic as accurately as you print the numbers. Using this feature, all your vouchers will appear in perfect Arabic.
• Accurate VAT calculation: You can now create all the masters in Arabic and use them while recording transactions, ensuring accurate VAT calculation.

You can also make use of the existing flexibility, where you can use TallyPrime in English and record transactions and create masters in English or Arabic. As always, you can print invoices in the respective language or in bilingual as per the need.

Navigate and operate TallyPrime in Arabic and enjoy accounting with the power of simplicity. To know more about this feature, refer to Use TallyPrime in Your Preferred Language.

Use TallyPrime in Bangla

TallyPrime now supports Bangla, enhancing the ease of usage, especially among native speakers.

• Change Language to Bangla: You can now have a seamless experience of changing the language and working in your preferred language. Each user in a multi-user environment can work in their preferred language simultaneously and can change the language at any point of time without losing out on any work.
• Print Invoices and Reports: You can now print your invoices and reports in Bangla by including language aliases during master creation. Additionally, now you can print amount in words in Bangla too.

Navigate and operate TallyPrime in Bangla and enjoy accounting with the power of simplicity.

Sort Pending Bills to Manage Payments Effectively

TallyPrime Release 5.0 offers an efficient payment management system that enables sorting of pending bills. Now make payments promptly in the order of due dates, with the oldest bill being settled first. Thereby, this reduces the risks of late fees and penalties. You can also sort the bills based on other fields like Bill Date, Balances, and so on, as per your business practices.

Enhanced Readability of Reports and Vouchers with Stripe View

TallyPrime introduces Stripe View that is designed to improve readability of entries in reports with large volume of data, by highlighting alternating rows. You can also use Stripe View for all vouchers & reports, or for only specific ones. Use stripes while printing, exporting or sharing documents from TallyPrime, as and when you need to.

View Instant Notifications Using the New Bell Icon

Enjoy an enhanced notification experience in TallyPrime 5.0. The Bell icon and the Notifications report are designed to notify you about critical tasks such as TSS renewals, License management, and TallyPrime upgrades. Similarly, Indian users can stay informed about GST uploads, downloads & Return filing.

You can now:

• Receive timely notifications on multiple activities through a single report, and stay on top of your business responsibilities.
• Take necessary actions directly from the Notifications report, reducing the need to switch between screens or modules.
• Configure when to show the Red Dot on the Bell icon.

Other Enhancements

Seamless movement of data to the latest release

Moving your Company data from TallyPrime Release 3.0 or later to Release 5.0 does not require any migration. Simply take a backup & load the data, and continue with your day-to-day business activities. TallyPrime updates the data version, which prevents you from loading the same data in any earlier versions of TallyPrime.

Changes as per Finance (No. 2) Bill 2024-25

TallyPrime 5.0 comes with updated income tax slabs for employees under the New Tax Regime.

As per Finance (No. 2) Bill for 2024-25, employers can now:

• Comply with the latest budget changes.
• Ensure accurate income tax calculation across employee profiles.

Edit Logs for Price Level and Bank Reconciliation

Edit Logs for Price Level and Bank Reconciliation led to excessive increase in data size. This issue is resolved.

WhatsApp your payment and receipt vouchers seamlessly

While sharing Payment or Receipt vouchers, the WhatsApp No. of the recipient will now be automatically filled from the party ledger.

Improved processing of bulk data

Bulk data processing is now faster and more reliable than ever, without any risks of data corruption. This includes processes such as Import, Synchronisation, Bank Reconciliation, and so on.

GST

• Update GST Status of vouchers without interruptions
  You can now update GST-related details in your masters without any interruptions in your day-to-day work.
  Based on your requirements, you can choose to update the GST Status of vouchers either while saving the masters or while opening the GST reports.
• Easy access to GST Registration Details (History)
  Previously, GST Registration Details (History) for a master was available under More Details > Show More.
  You can now view the history directly under More Details.
• Reset Delete Request for deleted or altered vouchers
  After exporting or exchanging a voucher, you may have deleted it or altered some details, such as GSTIN, Voucher No., and so on. Such transactions appeared under Marked for Deletion on Portal.
  Now, you can easily resolve such transactions by resetting the delete request.
• Enhanced management of non-GST transactions
  Previously, you had to manually resolve non-GST transactions, as they appeared as Uncertain Transactions.
  Now, these transactions are directly marked as Not Relevant for This Return in GST reports.
• Fix Uncertain Transactions in bulk
  In GST reports, you can now select multiple Uncertain Transactions and resolve them in one go.
  When you have issues in tax rate, GST registration, or HSN/SAC, you no longer have to resolve them one by one. 
• Purchases & debit notes without supplier invoice details
  Purchases and debit notes without Supplier Invoice No. or Date will no longer appear as Uncertain Transactions.
  You can now view them under:
  • Included in Return in GSTR-3B
  • Available in Books in GSTR-2A Reconciliation and GSTR-2B Reconciliation

Moreover, you can easily update the Supplier Invoice No. and Date by drilling down to the transactions in the relevant sections and reconciling them.

• View previously exported transactions in GSTR-1
  While exporting GSTR-1, you can now directly include or exclude the exported transactions using the right button. Previously, the exported data appeared only if you enabled the following option under Basis of Value: Include Transactions where no action is required.
• Export GSTR-2A and GSTR-2B as per old format
  You can now easily export GSTR-2 to Excel in the old GSTR-2A format.
  While exporting GSTR-2A or GSTR-2B Reconciliation, simply enable the option As per old format (GSTR-2).
• HSN/SAC for B2C transactions
  You can now easily configure the applicability of HSN/SAC Summary for your B2C transactions.
  This will help you in preventing uncertain B2C transactions for HSN/SAC. 
• HSN/SAC limit based on your annual turnover
  You will now be able to set the length of HSN/SAC to 4, 6, or 8 based on your Annual Aggregate Turnover (AATO).

Track & settle MSME Outstanding Bills based on Activity Type

In the party ledger, under MSME Registration Details, you can now set the Activity Type of the enterprise as Manufacturing, Services, or Traders.
This helps in better tracking and settling of Outstanding Bills based on the Activity Type.

Optimise printing to save paper

You can now enjoy cost-effective printing of invoices.
The optimised invoice printing feature reduces the repetition of headers and utilises maximum space in each page for the invoice details.