5 career opportunities for Tally experts
Tracking, recording, analysing, and reporting everyday operations and financial aspects of a business is essential for mindful investment, profit generation, and expenditure. Tally is a technologically-driven advanced accounting tool that helps organisations manage different operations, maintain accounting data, avoid loss, omission, or repetition of data, and transfer or present the data coherently whenever required. Learning Tally could equip one with relevant skills required for banking, bookkeeping, inventory management, billing and taxation, purchase and sale management, and so on. Knowledge of Tally could allow individuals to change their area of work or department, land lucrative opportunities as a fresher, change their career path, or manage their own business professionally. Let us look at a few competitive job roles that one can take up after skilling up in Tally.
1. Inventory manager - Inventory management involves tracking, controlling, and managing the movement, stocking, usage, order processing, and manufacturing of inventory. Inventory usually contains raw products, work-in-progress goods, and final products that differ from industry to industry. Tally allows inventory managers to ensure sufficient supply of right materials at the right time, avoid overstocking or understocking, and reduce the handling costs. The software simplifies stock management, helps in location or warehouse management, manufacturing, organising the inventory batch-wise and lot-wise, making accurate reports, managing the costs from other parties, and making and delivering online business reports accurately.
2. Bookkeeper - Bookkeeping is the activity of recording all forms of business transactions that include transfer of money or money worth. The recording and classifications are done chronologically that provide essential data required for accounting. Tally helps bookkeepers record financial transactions accurately, post debits and credits, and maintain balancing ledgers, accounts, and subsidiaries. Based on revenue, expense, matching, cost, and objectivity principle, Tally allows customisation of invoices, banking automation, payment reminders, and remote access of the data. It provides detailed customised reports, helps bookkeepers to track working hours of the employees, and automatically fill payroll and calculate tax. Tasks like simplifying purchase order, receiving and storing bills, bill payments, and tracking business’ spending nature are automatically done through Tally.
3. Accountant - Accountancy is the process of recording, managing, and reporting the financial activities of a business. Accounting starts right after bookkeeping and helps businesses understand their status, profit and loss made during a certain period, and their financial results. Usage of Tally software for accounting improves accuracy and efficiency, prevents mistakes, and promotes utilisation of time for valuable administration, strategy building, and execution related functions. The software allows multi user access, automation, online support, data security, is affordable, and is scalable which helps in easing accountancy processes. Accountants use Tally for analysing and verifying data, adjusting entries, getting data for audits, and preparing tax returns and income statements. The software is also beneficial for generating financial reports like balance sheet, profit and loss account, cash flow, funds flow, outstanding receivables and payables, for ratio analysis, bash book and bank book, and trial balance.
4. Billing executive - Billing involves creation, management, and issuing of receipts and invoices to internal or external stakeholders of the business. Businesses usually deal with various existing and new clients at tight deadlines and require proof of all the payments made or received to enhance their professional relationships and assist in profit or loss calculations. Tally is widely used by billing executives to avoid manual data entry, ensure accurate figures, and eliminate errors while preparing receipts and invoices. It helps in creating new invoices, adding, searching, and summarising customer records, converting different currencies, and credit card processing. The tool also includes financial calendars, database and records management, hours tracking, reminders, and reporting options that makes billing easier.
5. Tally freelancers - Freelancing in Tally is a new-age dynamic career opportunity for experts who wish to associate with different organisations instead of imparting their services to one. Freelancers work for different clients and earn individually based on every service or installation they do. Working 2-5 hours a day, Tally experts work on basic bookkeeping and accounting functions, provide daily work reports, create and provide GST reports, pay TDS, make receivable and payable statements, and bank reconciliation statements. Tally experts can also provide services on contractual or consultation basis to mid-size or large organisations. They can also work as trainers for corporate clients. Individuals with a flair in teaching and love for Tally could combine their skills and provide education to young learners taking their expertise a step further.
Courtesy: Internshala Trainings (training.internshala.com) - e-learning platform to learn new-age skills from Internshala