Q.Write about the Tally Accounting Package.
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🔒 Start your 14-day free trial to unlock the full solution →Concept understanding — Types of Accounting Software
Accounting software is generally classified into three types depending on how closely it is matched to one particular business's own needs: ready-to-use (off-the-shelf) software, a standard package sold unmodified to many buyers, suited to small/medium businesses with common accounting needs at low cost; customised software, a standard base package modified to add certain specific features a particular business requires, suited to growing businesses with a few special needs at a moderate cost; and tailor-made (tailored) software, built from scratch exclusively for one organisation's own unique requirements …
Tally is the most widely used ready-made accounting software in India and is studied as a type of accounting package in TS Intermediate 2nd-year Accountancy.
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Tally is a ready-made, general-purpose accounting package widely used by small and medium Indian businesses. From a single voucher entry it automatically prepares ledgers, the trial balance and final accounts, and also manages inventory, payroll and GST.
About the Tally accounting package
- Type: Tally is a 'ready-made' (packaged) accounting software — bought off the shelf, low in cost and easy to install, as opposed to costly tailor-made software.
- Core function: the user records a transaction once as a voucher; Tally then posts it to the correct ledgers and automatically produces the trial balance, trading account, profit and loss account and balance sheet.
- Additional features: inventory/stock management, billing, payroll, bank reconciliation, and GST-compliant invoicing and return filing. …
Showing the 12 most recent of 15 on this concept.
- CBSE 2026Set ANNUAL2 marksQ.What are ProfitBooks?
›Reveal solutionSolution
ProfitBooks is a ready-made, cloud-based accounting software designed for small and medium businesses. It is used to create invoices, record purchases and expenses, track inventory and generate financial reports, without the business needing to develop its own software.
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- CBSE 2026Set ANNUAL2 marksQ.What is Vyapar?
›Reveal solutionSolution
Vyapar is a ready-made business accounting and billing software made for small and medium Indian businesses. It handles GST-compliant invoicing, inventory/stock tracking, payments and basic financial reports, and works on both mobile and desktop.
Being a ready-made package, it is inexpensive and easy to use, requiring no special programming. A shopkeeper or small trader can use it to generate bills, record sales and purchases, manage receivables and payables, and keep accounts up to date. It is an example of the ready-made category of …
- CBSE 2024Set ANNUAL2 marksQ.Tailored accounting software.
›Reveal solutionSolution
Tailored accounting software is custom-built software made to order for one specific organisation's particular needs. It is used by large businesses with complex or unique requirements, is expensive, and requires special development and training.
This is a standard AP Inter 2nd-year (Commerce) computerised-accounting question, aligned with the NCERT/CBSE commerce curriculum.
Accounting software is generally of three kinds — ready-to-use, customised, and tailored. Tailored (tailor-made) software is developed completely to suit the specific and unique needs of a particular user or organisation.
Features of tailored accounting software:
- It is designed to order, exactly matching the organisation's own processes and reporting needs. …
- CBSE 2024Set ANNUAL2 marksQ.Tailored accounting software.
›Reveal solutionSolution
Tailored accounting software is custom-built software developed to meet the particular requirements of a specific large organisation, unlike ready-made or customised packages that serve many users.
Accounting software is generally of three kinds - ready-to-use, customised and tailored. Tailored software is designed and developed specially for a single large business according to its own needs. It is expensive, created by a team of specialists, and needs trained users and secrecy maintenance, but it suits the organisation's requirements exactly and can handle compl …
- CBSE 2023Set ANNUAL2 marksQ.What is a sheet?
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A sheet (worksheet) is a single grid of rows and columns forming cells, used in a spreadsheet package (like MS-Excel) to enter and process data, text and formulae. Several worksheets together make a workbook. In computerised accounting, worksheets are widely used to prepare statements, calculations and reports.
This is a TS Inter 2nd-year (Telangana Intermediate) Accountancy term from the Computerised Accounting System chapter; the TS treatment aligns with the NCERT/CBSE commerce curriculum.
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- CBSE 2020Set ANNUAL2 marksQ.Customised Accounts software.
›Reveal solutionSolution
Customised accounting software is ready-made software that has been altered (or software built afresh) to suit the special needs of a particular organisation. It fits businesses whose requirements are not met by standard packages, offers better flexibility, but is costlier and needs more training than ready-to-use software.
This concept is from the computerised-accounting-system chapter of the AP Inter 2nd-year (Class 12) Accountancy syllabus, which aligns with the NCERT/CBSE commerce curriculum.
Accounting software is broadly of three types: ready-made (readily available, standard packages for small businesses), customised, and tailor-made. Customised accounting software is a standard package that has been modified or a program developed to suit the specific requirements of a particular business. When a ready-made package does not fully meet a firm's needs, the software is customised by adding or changing features to match the firm's way of working. Such software is suitable for medium-sized and growing businesses, provides greater flexibility and relevant reports, but …
- CBSE 2020Set ANNUAL2 marksQ.Write a short note on: E.R.P.
›Reveal solutionSolution
E.R.P. (Enterprise Resource Planning) is comprehensive, integrated software that brings together all business functions - accounting, inventory, purchase, sales, human resources and production - into a single system sharing one database, so information flows smoothly across departments.
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- CBSE 2020Set ANNUAL2 marksQ.Write a short note on: Spread Sheet
›Reveal solutionSolution
A spreadsheet is a grid of rows and columns forming cells, in which data and formulas are entered to perform automatic calculations and analysis. It is widely used in accounting to prepare statements, make calculations and present data. MS Excel is the best-known example.
Each cell can hold a number, text or a formula; when the data change, formula results update automatically. In accounting, spreadsheets are used to prepare trial balances, final accounts, depreciation schedules and budgets, and to draw charts. They are flexible but, unlike full accounting software, do not …
- CBSE 2019Set ANNUAL2 marksQ.Write a short note on: Ready to use.
›Reveal solutionSolution
Ready-to-use software is a pre-packaged, ready-made accounting package (e.g. Tally) suited to small/medium businesses — cheap and easy to use, but with limited customisation and security.
Ready-to-use (ready-made) accounting software is one of the three broad types of accounting software (the others being 'customised' and 'tailor-made/tailored' software). It is bought off the shelf as a standard package and used as it is.
Features:
- Designed for small and medium-sized businesses with a relatively small number of transactions.
- Low cost, and quick and easy to install and learn.
- Little or no customisation is possible to suit a particular business. …
- CBSE 2019Set ANNUAL2 marksQ.Define Spreadsheets.
›Reveal solutionSolution
A spreadsheet is a computer application that arranges data in a grid of rows and columns (cells) and performs automatic calculations using formulas and functions — e.g. Microsoft Excel — widely used for accounting worksheets and reports.
In the Computerised Accounting System chapter of TS Intermediate 2nd-year Accountancy, a spreadsheet is a general-purpose software package where each cell can hold text, a number or a formula. When data changes, dependent results recalculate automatically, which makes spreadsheets useful for preparing trial balances, budgets, depreciation schedules and oth …
- CBSE 2019Set ANNUAL2 marksQ.Explain Word Tally.
›Reveal solutionSolution
Tally is a popular ready-to-use accounting software package that records transactions and automatically produces ledgers, trial balance, final accounts, GST returns and other reports; it is an example of the "ready-made" type of accounting software.
In the Computerised Accounting System chapter of TS Intermediate 2nd-year Accountancy, Tally is studied as a widely used ready-to-use (ready-made) accounting package. The user creates company and ledger accounts and passes vouchers; the software then maintains the books and generates financial statements, inventory and tax reports automatica …
- CBSE 2018Set ANNUAL2 marksQ.Write about the tally accounting package.
›Reveal solutionSolution
Tally is a ready-to-use accounting software package that handles vouchers, ledgers, final accounts, taxation (GST) and inventory, widely used by small and medium businesses.
Tally is one of the most widely used readymade accounting software packages in India. It is a general-purpose, ready-to-use package, meaning it is bought off the shelf and used directly with little customisation. In Tally the user enters transactions through vouchers, and the software automatically maintains all ledger accounts and prepares the trial balance, Profit and Loss Account and Balance Sheet. It also handles inventory/stock records, taxation such as GST, bank reconciliation and various management reports. Because it is economical, easy to learn and reliable, Tally is especially popular with small and medium-s …
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