TALLY provides the normal CASH BOOK, LEDGER, SALES and PURCHASE registers, JOURNAL register, DEBIT and CREDIT NOTE Registers as the principal books of accounts, and further the statutory statements generated thereon, viz. the Trial Balance, Profit & Loss and Balance sheet, Cash flows, Funds flow, performance analysis, etc.
Additionally, it permits you to define your own classification methods to organise the information more meaningfully, keeps track of your outstandings (receivable or payable) on a bill to bill basis,allows you to set budgets for accounts or groups of accounts. It also gives the daily closing balance or transactions of any ledger account, group or cost centre, a Memo register to ensure that statutory payments are not forgotten, Cost Centres to show the profitability (Dept. or product wise), and many other useful facilities.