Tally Prime Release 3 - Upcoming Features

TallyPrime – A next generation business solution which was an upgrade from earlier Tally.ERP9, was launched in December 2020 Since then, there have been various enhancements and updates with features such as – Audit Trail, Digital Signature, E-way Bill, E-invoicing & more Tally now brings us TallyPrime Release 3.0! So what’s new? Here are all the new features & updates introduced in Release 3.0

1. Payment Request

TallyPrime now comes with the Payment Request feature that will help you generate and share payment links and QR codes (using Payment Gateway or UPI) in a jiffy. This will also empower your parties to settle the payments with you, instantly and conveniently.

Payment Request comes loaded with the following features, and more:

• Instant Payment Request: Once you have completed your setup, TallyPrime will help you instantly generate and send payment links and QR codes. All in the flow of your regular business! We understand that your business might have special requirements with respect to payment, and accordingly, TallyPrime provides you with numerous flexibilities to cater to your needs.

• Seamless reconciliation: TallyPrime provides the icing on the cake by facilitating a smooth reconciliation of all your Payment Requests. The Payment Reconciliation report will provide you with a neat summary of the unreconciled as well as reconciled transactions.

• Data security: We understand that the safety of your financial data is paramount for your business, and we have taken the utmost measures to ensure that your data remains absolutely secure. We have partnered with prominent Payment Gateways to provide you with the best-in-class security policies, and we want you to rest assured that your payments are in safe hands.

2. Multiple GSTN in a Single Company Data

Multiple GST registrations in a single Company data brings in a simpler GST Return-filing experience, as you can file GST Return for each GST registration separately using GST reports of a single Company data. It saves you from the trouble of maintaining different Company data for different GST registrations. This, in turn, saves a great deal of time, as you can work to prepare for GST Returns of each GST registration in a single Company data.

3. GSTR-2A & 2B Reconciliation

The experience of reconciling your transactions in GSTR-2A & 2B with the transactions of your suppliers is further simple. This ensures that the information in your books matches that on the GST portal. Moreover, the facility to identify potential matches to unreconciled transactions in your books aids to the ease of the reconciliation process. You can now:

1. Import GSTR-1 or GSTR-2A or 2B even in JSON files, apart from MS Excel and CSV.

2. Reconcile transactions:

3. Manually mark the status of transactions as Reconciled or Mismatch, as needed.

4. Track reconciled transactions that are modified later.

4. Specifying GST Details

You now have the flexibility to specify and update the details related to GST Rate and HSN/SAC separately in different types of masters, as needed. Updating GST registration details of a party has also become simpler. Furthermore, you can specify slab rates in any master – be it stock item, stock group, ledger, or group, as needed.

5. New Report Filters – For quick access to business info

Finding required information and data analysis has become all the faster, easier, and delightful with a versatile facility for applying filters that is:

1. Easily discoverable

2. Accessible in just one click

3. Enhanced to cover the gamut of business scenarios

6. Blazing Speeds for GSTR-1

TallyPrime Release 3.0 enables much faster opening of GST Returns for your immediate reference. Moreover, filing GST Returns becomes all the simpler as GST reports such as GSTR-1 and GSTR-3B are enhanced.

7. Enhanced data management experience

The improved data management facilities not only ensure that the migration to the release is seamless but also delight you with enhanced simplicity in migration, repair, import, and synchronization. You can also view the progress of the activity in detail and resolve the exceptions, if any. Conclusion These were some of the major functionalities brought about in Release 3.0 , although there are many more enhancements & improvements as well Infosoft Technologies is a Tally Certified Partner since 20+-years and has assisted thousands of businesses enhance efficiency with Tally To know all about TallyPrime Release 3.0 Reach out 9373443800 | 8788410661 | tally.infosoft@gmail.com