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Saturday, March 21, 2009


The Security of Data, Financial or otherwise, has always been a matter of concern. Most businesses depend on the confidentiality of information. Tally Vault is an enhanced security system which allows for encryption of the company data with the most secure method of encryption being used. Tally Vault ensures that under no circumstances, the original information is available in any form. The technique could be likened to "encryption-decryption-on-the-fly", and the decrypted form of data is never stored in the system. Apart from this, it uses the "non-stored password" mechanism. By using highly advanced mechanisms to validate a new user without any prior knowledge of the original password. The combination of these facilities means, that Tally Vault becomes one of the most secure means of information storage.

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This obviously allows you to maintain both financial accounts and inventory. You may choose not to use one or the other until the need arises.
You can always modify the company information to change these settings to allow or to discontinue accounts or inventory.

Once you have created the company and load it you would find a button - [F11] Company Features - on the bottom right hand corner of your screen. Companies Features are modifiable settings pertaining to the current company you are working with. One of the settings is a question pertaining to maintenance of accounts-with-inventory.

It is use for classification or identatification of account head. A new group selected under primary group will appear in same listing major group are, Assets, Liabilities, Expenditure & Income. That determines the accounting preparation. It affect in profit and loss A/C balance sheet.

Name of main group of accounts:
1. Assests Group
2. Income Group
3. Liabilities Group
4. Expenditure Group

Specify whether you want to maintain only financial books of accounts or only inventory or both accounts and inventory. Select from the popup list.

Let us examine each option and its applicability.

Accounts only

Select this only if you do not have any inventory transactions (suitable for professionals and corporate offices). Tally would not permit intrusion of Inventory related information that is not required.

Inventory only

Select this only if you do not want to maintain ANY financial records for this company (may be suitable for pure stock points/go downs and factories). Tally prevents financial information from being recorded or displayed.
You may opt for Accounts Only in your corporate office and Inventory Only at your remote stock point.

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