The CA and Tax consultants group has always relied on a dependable and convenient manual data entry method for the Tally. As the method takes longer and has a more complicated number pattern, it is prone to a slew of other flaws, such as human error. As difficult as it may be to believe, manual data entry into Tally is a massive problem that costs millions of dollars each year for manpower and other unimaginable resources just to get the data entry work done.
Starting with its core structure, whether it is the requirement of data structures/columns/ledgers and the need to create them manually, it all burdens the chartered accountants and tax consultants more than registering tax.
The biggest disadvantage of using the traditional method is that all of the processes, such as bank statement entry, sale-purchase, and entry into relevant ledgers.
Even after all expenses, resources, and time have been spent; CA must have to recheck all entries and focus on entry verification and error correction methods.
The most dreadful aspect of adhering to the methods and tactics mentioned above is that even after complying with all of it, accounting staff/companies are forced to spend so much time on manual data entry, and that is why they are unable to focus on more important tasks such as evaluating business and expanding customer base. After keeping up with Tally, the job of accounts becomes more difficult, as they must accede to Income Tax submission deadlines and other important pressing matters, which puts accounting firms under additional stress.
The entire process of managing Tally is bland, monotonous, and less productive for almost the entire industry. As a result, to meet modern-day demands, the industry requires tools that can revolutionize processes and speed up necessary processes. Based on personal experience, the entire data entry situation is a huge waste of money and consumes more manpower than it needs.
The company may be fine with that as well, but the energy wasted on data entry, the time it takes to recheck the error after it has been compiled is the biggest handicap.
We've highlighted a series of factors that CAs encounter when using the manual Tally method.
- Physical Copies at Risk of Loss: Journals and ledgers, being physical books, are prone to loss.
- Accounting Procedures Understanding: Require the services of a professional bookkeeper and cannot be completed by flexible office staff.
- Errors in Data Entry: In a manual system, double-entry accounting is time-consuming because every transaction must be recorded twice by hand which can lead to human errors.
- Time-consuming: As one of the oldest methods in the field, it has several downsides, one of which is time-consuming, as manual Tally takes longer.
- Growth from the standpoint of the most recent technological advancements.
- Manual Tally fails to keep up with technology, which eventually leads to many issues and the company suffers significant losses as a result of being behind their competitors. While others take the lead by utilizing the latest technology.
After observing all of the situations around us, we decided to build a platform on which CAs and tax consultants can rely. With that in mind, we created TallyWiz, a fully automated data entry software, as an escape from the most difficult and time-consuming data entry process for our fellow CAs.
What we offer is a comprehensive list of everything CAs have been wishing for, here are a few of the features that the community will benefit from by subscribing to TallyWiz.
1. Speed
Whereas a typical data entry takes 40 seconds, TallyWiz can complete the task in just one second, so by speeding up your data entry process, we ensured that you finished your task quickly and could sit back and relax while saving 90% of your time.
2. Accuracy
Even after putting in so much effort, no one can guarantee 100% accuracy because there is no way to avoid human error. TallyWiz, on the other hand, can be relied on by the CA/Tax consultant community because it provides 100 % accurate entries.
3. Automated notifications
There may be days when, due to pressure or another factor, CAs or Tax Consultants can get late in sending a reminder to the client; during those times, tools like TallyWiz can enable automated notifications to inform clients about necessary submission dates, allowing tax firms to perform tasks before the deadline.
4. Remote access
Given the current pandemic situation, we added this feature so that businesses can use it as an add-on and benefit from it without disrupting their operations. Remote access could be proven to be the best tool to save time and physical contact while still performing tasks. You can even create a shared folder on the cloud for your clients for data exchange.
5. AI Based machine learning tool
Our AI-based tool is the reason we can guarantee you 100% accuracy, thanks to its superior and intelligent reading method. The tool can be used as a memorizer, and processes can be used for faster and more accurate automated entries, so say goodbye to human errors and hello to perfect error-free entries without breaking the bank.
Conclusion
Tally Automation is the growth for the CA community, which every individual requires today. Let’s become a part of the revolution and grow together.
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