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Accounting in Tally Prime - Tally Support

Accounting in TallyPrime or TallyPrime accounting enables managing your accounting entities, inventory movements, financial & banking transactions, and provides real-time reports on all these. You also get the required options to handle your banking transactions and reconciliation, business projections, multiple currency handling, interest on outstanding, and accounts verification. TallyPrime classifies transactions as accounting or inventory based on the nature of the accounting entries and the accounts they affect. The generic category Accounting in Tally Prime includes the chart of accounts, journal entries, contra vouchers, and other vouchers used for checking the impact of notional transactions without immediately affecting your accounts. Other features covered under the section include the accounting and financial reports in TallyPrime, Banking Utilities, options to control your finances, facility to manage use of different currencies in your business, calculation of interest for the receivables, and options to check the accuracy of accounting entries. You also get a Statistics report that displays the summary of the types of accounts and vouchers in your accounts. **Accounting Entry** refers to the records you maintain to manage your business on a daily basis. You can use Journal Vouchers to record any type of transaction. For ease of recording, TallyPrime provides different voucher types like sales, purchase, receipt, payment, and so on. You can use contra vouchers for money transfers between different accounts in the business, memorandum vouchers for expenses with currently unknown purposes, reversing journals for checking the impact of transactions before they are effected, and so on. Additionally, you can mark a voucher as optional when you are not certain about the finalisation of a transaction. You can also record a voucher with future date for a transaction that is planned to happen in the future,by marking the voucher as Post-Dated. Steps to create all vouchers are similar, and only a few specifics vary from a voucher type to another. You also get a facility to pre-configure ledger selections using Voucher Class so that your voucher entry becomes faster and less error-prone. **Chart of Accounts** in [Tally UAE](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) comprises of the accounting ledgers, and a means to group them for the purpose of accounting and financial reporting. TallyPrime provides 28 predefined accounting groups, out of which 15 are primary groups and 13 are secondary groups, under the categories, assets, liabilities, incomes and expenditures. These groups are provided to ensure the generation of meaningful reports as per accounting standards. In addition, you can create groups under the major categories, assets, liabilities, incomes and expenditures, or any of the default primary or secondary groups. For example, Bad Debts account under Current Assets. **Accounting & Financial Reports** is a major need to run your business successfully. [Tally Prime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) provides reports like Transaction registers, Day Book, Trial Balance, Balance Sheet, Schedule VI Balance Sheet, Profit & Loss Account, Cash & Fund Flow, Ratio Analysis, Cash & Bank Book, and so on, with real-time data. Similarly, Receivables and Payables reports provide direct aid in outstanding management. **Banking Utilities** are for managing your transactions that involve one or more banks. You can record receipt of money from your parties into your accounts by means of cheques, DDs or electronic payments. Such receipts can be recorded even when you are uncertain about the account to which you are depositing the payment instrument, and tag the account later. Similarly, you can record payments made to your suppliers using cheque, DDs or electronic payments. You can print details on pre-printed cheque leaves received from your banks, or even print the cheque on blank stationery for your records.Generate deposit slips for cheques, DDs or cash, or sent electronic advise to selected banks to complete banking transactions. There are options to do reconciliation of bank statements electronically, or otherwise. Bank Book assists in checking all your bank transactions. **Financial Controlling** options enable you to manage different cost centres for allocation of incomes and expenses, define budgets and track budget variance, and define scenarios to check the impact of planned expenses on your business. All these what-if analysis can be done using non-accounting transactions like optional vouchers, memorandum, or reversing journals – without affecting your books directly -to ensure accuracy of your accounts at any point in time. **Define different currencies** that you accept in your business transactions, so that you can do accurate conversions, and check forex gain or loss,and account them appropriately. **Calculation of interest** as per the practices you follow for overdue receivables or payables, and loan given or received is another facility available in [Tally Prime UAE](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php). You can define interest for a ledger amount as a whole, or transaction-by-transaction as required in your business. **Verification of your books** can be done anytime, even if you hand over some work to someone or your auditor makes changes in transactions to ensure accuracy of accounts. You can enable marking the vouchers that get modified or added by your internal auditor or accountants when finalising your accounts, or tax consultant before filing returns. After they complete their work you can verify the changed or added vouchers and take action, if needed. **Statistics** gives the number of all the vouchers that are created under each voucher type, and all the types of accounts in your books of accounts. You can configure this report to view different details. As in other reports, you can drill down to the transaction level, if needed. **In this section** 1. Accounting Entry 2. Chart of Accounts 3. Accounting & Financial Reports 4. Banking Utilities 5. Financial Controlling 6. Currencies 7. Calculate Interest 8. Mark Changed Vouchers 9. Statistics Reference with Thanks: [Tally Solution](https://help.tallysolutions.com/accounting-in-tally-prime/)

The 7 Best Accounting Software 2025 - Oman

> **_Complimentary Consultation for All Accounting and ERP Software Solutions_** > > **_[Get a personal call now.](https://www.penieltech.com/contact.php)_** For successfully running a business in Oman one should have enough resources to monitor the income and expenses. Whether the fundamental portion of your energy is spent on spreadsheets and manual tasks, other than finding the Best Accounting Software and ERP software and in Oman for VAT, you are ultimately ending your business growth. Most Used VAT Accounting & ERP Software’s for the manufacturing industry are not efficient and it may take a lot of struggle to study how it all works. Best VAT accounting software assures that invoices are sent out and financed on time but also supports in estimating cash flow, the complete financial records, and monetary status. VAT Compliant Accounting Software and ERP software keeps your business’s financial data and also implements business transactions easily. It authorizes you to enter in all costs like payroll, income, sales expenses, and more. Businesses of every size employ VAT accounting software and [ERP software in Dubai](https://www.penieltech.com/erp-software-uae-dubai.html). They can be set up locally or on the cloud, as per your requirements to manage your own updates and safety. Different sets of accounting software do various things. VAT-compliant accounting software for a specific task differs in its job from other accounting software. It offers options like invoicing, bill payment, general ledger, payroll, and financial reporting, etc. Below are the most used Vat Accounting and ERP software’s used in Oman **Tally Prime** 5.0 (Latest Version) ------------------- Tally Accounting is software used for business accounting purposes. TallyPrime is one of the robust ERP software and is a comprehensive business management solution. TallyPrime is complete [Business management software](https://www.penieltech.com/) that supports you accomplish the complete needs of your service business. Using VAT-enabled business software, TallyPrime; you can manage invoicing, bookkeeping, inventories, payroll, banking, cash flow, and much more in a well-organized way. TallyPrime derives with a diverse set of readily available business reports that takes your business decisions to a new level, simpler than ever before. Tally ERP 9 software is the best accounting software for small businesses that have helped to progress on their functionalities by offering smart control over center value-based movements. **QuickBooks**  --------------- The accounting software is created for many types of small businesses. It is basically acquirable and can permit businesses to assess their business financial actions actively. Many custom solutions are available pre-configured to achieve the essentials of certain industries. [QuickBooks software](https://www.penieltech.com/quickbooks.html) is vat compliant accounting software that is well-matched to mid-size companies as well. QuickBooks allows customers to trace the transactions, make payments, generate invoices, and create reports through a single platform. **Odoo** -------- Odoo or OpenERP is the best effective Open Source ERP solution for businesses. It indorses cost-effective process management. [Odoo software](https://www.penieltech.com/odoo-partner-dealer.html) is a dynamic application that embraces all kinds of business management elements like finance, human resource, CRM, sales, warehouse, manufacturing, etc. Odoo, along with the management platform, comprises sales and project management in a single tool with material requirements planning, a range of point of sale, and other e-commerce functions. Odoo is extremely ahead of its challenging enterprise management solutions by incorporating all possible sales channels with robust inventory management, thus making it the utmost preferred enterprise management solution in Oman and Muscat. Peniel Technology is one authorized Odoo partner in Oman offering a customized solution to all kinds of business. **ERPNext** ----------- ERPNext is an easy, dominant, and comprehensive solution that is inexpensive and easy to use. It can be hosted on the cloud or self-hosted by the customer or even on mobile through the mobile application. It can be hosted on Cloud or Premise. [ERPNext solutions](https://www.penieltech.com/erpnext-dealer-in-dubai.php) are well suited for manufacturing that permits supervisors to accomplish accounting, onboarding, workforce, manufacture, sales, acquisition, and CRM processes with a centralized dashboard. It also lets supervisors strategize projects, track tasks, generate predictable timelines, store documents, and collaborate with the members of the team in real-time. It supports over 30 languages and supports organizations to manage all kinds of business workflow easily and efficiently. **Sage** -------- [Sage accounting software](https://www.penieltech.com/sage-300-people.html) has turned into a business standard due to the way it streamlines and simplifies a very diverse range of accounting tasks, letting accountants and bookkeepers work quicker and more precisely. Sage software can be used for everything from the simplest jobs to handling difficult financial systems. Sage is well known for bookkeeping to payroll handling, Sage aids to manage invoices, offering real-time records of transactions and receipts, multiple currency provision, cash flow predicting, submit VAT online, transferring money, all accessible from your desktop or via a mobile application. With the help of Sage on the cloud, you can store all the information on the cloud securely. We host Sage on the cloud and provide all your traditional tools, as well as accounting, invoicing, inventory management, and more. The teams of the company can have improved remote access with security measures. **Elate HRMS & Payroll** ------------------------ Elate HR management software and Payroll processing solution is designed to maintain employee information, compute payroll, and manages returns in a single click. We offer the [best HRMS and Payroll software](https://www.penieltech.com/hr-hrms-payroll-software-solutions-provider.html) that are proficient in supporting customers in all the simple and even difficult business necessities grounded on the editions they select. The software is exceptionally scalable and very flexible for managing all the HR and payroll activities. It can efficiently manage diverse processes including employee tracking, candidate tracking, performance assessments, essential accounting talent management, payroll management, time and attendance management, and many more. **Elate CRM** ------------- ELATE CRM is the top CRM Software for small businesses in Oman. It is designed for small and developing a business, easy to set up, and has a simple outline with easy adaptability. [CRM software](https://www.penieltech.com/crm-software.html) for small companies compromises much functionality to step up your sales process. With our ELATE CRM, you can access a range of KPIs, charts, reports, and leader sections for better insight and accurate analysis. It is customized to access day-to-day customer data from anywhere and anytime within the business. CRM makes it easy to track communications over the phone, email, or chat. It delivers significant and engaging email marketing drives by systematizing sales tasks. ### **Conclusion** You should know your business necessities to identify which accounting and ERP software you need. The above list of VAT accounting and ERP software will definitely let your business touch on new pinnacles of success.

How to Import transactions into QuickBooks from Excel

Excel Import tool for QuickBooks- Elate QB Addins excel import tool allows seamless flow of the data into the QuickBooks from excel spreadsheet saving hours of data entry and reducing errors for the user Elate QB Addins import tool has capability to import all transaction data from purchase bills, sales invoices, payments, receipts, credit notes, debit notes, journals, quotations, purchase order , sales order etc. into the QuickBooks with a click of button. All the data gets seamlessly ported in appropriate vouchers inside the QuickBooks application. * Open the QuickBooks database file. * Login into the QB Addins application by providing the authenticated username and password. * Click on the import button on the top menu and choose the appropriate voucher. * Select the excel template you wish to upload. * Example choose tax invoice and click select file to choose the excel template and click OK. It will start populating all the transactions in the excel template and then the user can click on insert button to upload the transactions directly into QuickBooks. Once completed it will also display the total number of records that have been uploaded.

Tally Prime Vs Tally ERP9 Quick Comparison - Features - Pricing

Quick Comparison between Tally.ERP 9 and Tally Prime **Tally ERP 9**: As your business grows and transcends state and international borders, you need a business [accounting software](https://www.penieltech.com/) tally erp9 with the support that will keep pace with your complex business demands, while simplifying growth.  **Tally Prime:** At Tally, we believe in the power of technology to make business owners efficient, empowered and happier, so they can focus on what matters most for their business. We design our products to focus on just that – to make our products work for you, and not the other way around. Given below are comparison or difference of Tally features in Tally.ERP 9 and Tally Prime. The comparison will help you to seamlessly pilot through Tally Prime while checking the features in your current Tally.ERP 9. Tally ERP 9 Tally Prime **New Interactive User Interface** - Tally.erp9 comes with a more of a keyboard driven interface with shortcuts and bright colour combination **New Interactive User Interface** -tally prime comes with altogether new interactive user interface with menu driven home screen making navigation easy and smooth and new colour combination consisting of blue and white backgroundn **Hassle Free Installation and Licensing** - tally.erp9 can be installed using the cd or can downloaded from the tally website. the installation is simple and it would take around 60 to 90 seconds to get installed and the installer size is around 115 mb **Hassle Free Installation and Licensing** - tallyprime is only available as download option and the installation manager is a compressed file with around 40mb and it hardly takes 30-40 seconds for the installation to be completed **Access Tally Data** - tally.erp9 allows you to select data file from a single selection option **Access Tally Data** - [tally prime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) allows the user to select data from multiple options like specify path and browse drive making it easier and simpler **Master Menus** - tally.erp9 featured separate menus for accounting, inventory and payroll masters **Master Menus** - tallyprime has segregated all the masters in to one main menu and providing sub menus for each modules enabling smooth navigation **Chart of Accounts** - in tally.erp9 users had to go through 3 clicks of the button to view the chart of accounts **Chart of Accounts** - tallyprime allows the user to access the chart of accounts from one screen **Supplementary Information During Voucher Entry** - in tally.erp9, the user had fill the required details and pass the complete supplementary information screen **Supplementary Information During Voucher Entry** - tally prime has reduced the need to enter required details which is captured in the configuration screen and get auto populated in the supplementary information screen **Voucher Entry** - the user can click on the different voucher menus like accounting, inventory and payroll to enter the vouchers **Voucher Entry** - tally prime has one menu for voucher entry and the different vouchers can be accessed through other vouchers button on the screen enabling toggling between vouchers easy **Multi-Tasking** - [tally.erp9](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) allowed mult taksing by opening different instances of the tally application **Multi-Tasking** - multi tasking has been made very easy with the goto menu option on the top screen on the gateway of tally. now while entering vouchers, you can switch between different vouchers at the same time and also view reports real time. complete one task and then switch back to the original task. **Copy Paste Option** - tally.erp9 allowed copy paste with the shortcut keys ctrl + alt +c to copy and ctrl + alt + v to paste inside. **Copy Paste Option** - with tally prime, you can use the universal option of ctrl + c to copy and ctrl + v to paste **Printing of Invoices** - in tally.erp9, printing invoices with more items was major issue as it would run into multiple pages leaving blank spaces on the template **Printing of Invoices** - tally prime has optimized invoice printing with multiple line items by allowing the user to define the necessary information that needs to be printed on the supplementary pages thus avoiding unnecessary stationery running costs [Demo Link](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) [Demo Link](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php)

Tally Prime Keyboard Shortcuts

General Shortcut Keys in Tally Prime

Voucher Entry Shortcut Keys

Masters (Ledger, Stock Item, etc.)

Reports and Navigation

Printing and Exporting

Configuration & Settings

Other Important Shortcuts

Tally Prime -Business Reporting Now Easier

With TallyPrime, our magical reporting engine gets even more insightful that help you discover, analyse, and make confident business decisions. TallyPrime comes with amazing flexibility that allows you to change the context of business reports the way it suits you. All of these at the click of a button. Using [Tally Prime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php), you can slice and dice your reports and look at them the way you want, the way it works for your business. Not just that, in a click of a button, you can get to know the data in the reports that you should know that stands out. Let’s take a look at the options that help you analyse the business reports with ease. Change view ----------- Want to modify the format of a report? Simply press ‘Change View’ and choose how you would want to view it. In less than a second, the report will look how you want it to. Change view suggests the alternative views of the same report so that you can understand the report better. Let’ say you are in the stock summary report that shows the stock position of inventories, and you want to change the view that shows the ageing details. Just click ‘change view’ and select the view as ‘Ageing’. There you go, the report now starts showing ageing details.    Using change view, you can also change the way the information is presented in the report. For example, you can change the balance sheet from a horizontal view to vertical view  ### Basic of values Want to change parameters that affect the values in reports? Simply press ‘Basis of Values’ and the product will recompute the report basis the new criteria in less than a second. Using this option, you can slice and dice the information in reports by including and excluding the parameters. Thus, helping you create different perspectives to understand the reports better. **Free Demo Available for All Products:** Your name Your email Your Phone Product —Please choose an option—Cheque PrintingElate CRMElate ERPReal Estate Property ManagementTally PrimeQuickBooksSage Accounting SoftwareHRMS SoftwareCustom ERPAccounting SoftwareVAT Accounting SoftwareWeb DesignCorporates TaxERPNextOdooInventory ManagementWarehouse ManagementQuickBooks Invoicing SoftwareOtherDigital MarketingSEO Your message (optional) Δdocument.getElementById( "ak\_js\_33" ).setAttribute( "value", ( new Date() ).getTime() );  #### Exception reports With TallyPrime, you can identify the irregularities or odd details requiring your attention from every report you see. By simply clicking on “Exception reports”, [TallyPrime highlights](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) data in the reports that you should know that stands out. Discovering such details in TallyPrime is just a click away! Let’s say, you are viewing the stock summary report to know the current stock position of all the inventories you deal with. While you will get to know the closing stock of each item, won’t it be great if the report highlights specific data that need your attention? For example, among several items you see in the stock summary report, certain stock items are running below the required quantities and need to be replenished to meet anticipated sales or consumption. Likewise, some stock items have pending orders that are yet to be fulfilled.  To call out such details, simply click on “Exception Reports” and select the exceptions that you want to see. There are many such options such as comparative analysis across the period (e.g. weekly, fortnightly, monthly), across multiple companies and so much more that helps analyse the reports easily. TallyPrime understands that every business is unique and comes with amazing flexibility that allows you to discover more insights from every report you see and run your business better. Install TallyPrime and give a try! Free Demo : [Click Here](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) Reference: [Tally Solution Mena](https://tallysolutions.com/)

Top 5 Reason to Switch Tally Prime

To lay the foundation of new generation products and simplify complex business processes, we have come up with Tally Prime. When your business strategy is carved out of simplicity, it becomes much easier to get other essential processes in place more flawlessly. Tally Prime is your new business companion that makes sure you stay on track with your objectives and have all the reports required for your business and tracking your progress from time to time. Tally Prime Dubai compromises amazing built-in features and competencies. [Tally Prime UAE](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) is business management software, that takes care of your accounting processes like sales, procurement, receivables, payable tracking, inventory management like order processing, and inventory tracking. It is also responsible for workforce management, transactions, statutory compliance, etc. **Here are the top 5 reasons to choose TallyPrime, UAE** -------------------------------------------------------- ### **Swift Navigation** It is one of the simple-to-operate software where you need not have to learn or holding expertise in this software. One can conveniently access various reports from anywhere in Tally. This feature essentially supports you to multitask or handle interruptions. With the GoTo function, you will be able to handle many such conditions without the disturbance of swapping between multiple instances of [Tally UAE](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) without worrying about losing your progress. #### **Insightful Reports** TallyPrime software caters to your current as well as future needs of your company. TallyPrime is flexible to understand the demand for automating several processes, and thus permits you to effortlessly make the report as you want for a business. To modify the format of a report, you can just press ‘Change View’ and select the way you want to view it in a few seconds, the report will look exactly how you want. To change constraints quickly that affect the values in reports, you can click on ‘Basis of Values’ which results in computing the report as per chosen criteria. #### **Interruption Management** When you are occupied with a specific report, you may come across numerous unprecedented interruptions causing inaccurate reporting. TallyPrime is crafted in a way that you will hardly need any support as per your requirements. In-product help will guide you to figure a way out. It has a smart setup manager which can interact with all the mechanisms of the system and troubleshoot any authorizing or application run-time concerns. #### **Invoice Experience** The invoices and reports can be printed out easily with TallyPrime. You can print anything from anywhere conveniently but also eco-friendly. You can now save up to 80% of paper with the improved way and set up of printing. #### **“GoTo” Search to Discover More** TallyPrime compromises a powerful search bar called ‘Go To’ as part of the new top menu. You can effortlessly access all reports in the application which can be used to take superior decisions for your business. This search bar is profound to your exclusive way of referring to many reports and categorizes them based on both general and your custom terms. Get your hands on [Tally Prime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) right away at Peniel Technology. We are Tally partner and consultant providers in Dubai, Bahrain, UAE.

How To Register For VAT In Oman? Simple Steps

VAT in Oman is likely to get applied from April 2021. Oman would be the 4th of 6th Arab Gulf states to announce VAT as part of a 2016 VAT union agreement. The six states had been granted to implement a harmonized 5% regime. The mandatory Oman VAT registration onset is OMR 38,500. But, it is likely to apply for a volunteer registration above OMR 19,250. Non-resident industries will have to VAT register if they offer taxable goods, regardless of the registration threshold boundary. Find Below VAT Registration Guide in Oman. **Key highlights of VAT registration guide of Oman** The guide has explained that the below-mentioned steps must be followed in case any industry or individual needs to register for VAT. * Decide whether the individual is obligated to register or not. * Determine the constituents of the annual goods for the purposes of registration. * Analyze or evaluate the total value of goods for the periods. * Approving the registration date based on the result of computing or estimating the total value of goods. * Apply for registration as per the processes that will be explained by the tax authority. **VAT Registration Timeline** After calculating the yearly goods, the person required to register must give an application for registration with the tax consultant within the dates stated by the Decision of the Head of the Tax Authority. The date of registration is the day on which the registration turns into effective, and the registered person must fulfil all necessities of the law as of this date, such as delivering tax invoices, keeping [accounting](https://www.penieltech.com/) histories, submitting tax statements, and other tax responsibilities. **How to apply for VAT registration?** Companies that meet the above conditions can start registering for VAT by logging in to the online VAT registration website provided by Oman tax experts. Steps for VAT registration are mentioned below: Diagram · The individual has to register must visit the tax authority’s portal i.e. https://taxoman.gov.om/portal/ar/home · Then the individual has to log in with the electronic authentication provision · Fill out the electronic form to register for VAT wisely · Make sure the accuracy of the data and confirming that the application fulfills all the essential documentary requirements · Submit the application and preserve the receipt of the application from the tax authority · The tax expert reviews the registration application, and if accepted, it will issue a VAT registration license that comprises the registration number and other info such as the date of the registration beginning, tax periods, etc. Being tax consent is exceptionally essential for business holders. [TallyPrime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) confirms that the software is constantly prepared for any up-to-date statutory variations for the smooth working of your business.

Tally Prime’s - Invoicing Make Easier

There are lots of responsibilities that come along with running a business. One of those is invoicing. No matter what type of business you run, you must invoice your customer’s for sale of goods or services rendered. TallyPrime, all new [business management software](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) makes it amazingly simpler to create and record invoices. Optimized invoice components, host of configurations, multiple billing modes and so on.. makes TallyPrime really moulding to your business. Not just that, you can multi-task and handle day-to-day interruptions with ease. Multiple billing mode --------------------- Just like we say, ‘One size doesn’t fit all’, the same applies for invoicing as well. Based on the type of business you run or on the comfort level of your usage, you need a different billing mode that suits your need. With TallyPrime, you can choose different billing modes based on your comfort or business usage. If you are in a business that involves inventories, you can use “Item Invoice”. You can choose “Accounting Invoice” to record your service invoices, this is useful for service businesses as well.  Just in case you are accustomed to “Dr Cr” way of recording invoice, you can choose “Voucher mode”. ### ‘More details’ to capture occasional details ‘More details’ lets you capture occasional details that come with dealing with a particular supplier or customer or a particular transaction type, without disturbing the flow that you are most used to. Let’s say, occasionally you deal with exports or consignor-consignee type of transitions that requires you to mention the additional details. You can simply use ‘More details’ to capture it. This way, you will be able to capture occasional details without disturbing the regular flow of data entry. #### Do more while Invoicing Using [TallyPrime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php), you can multi-task and handle the day-to-day interruptions. Let’s say, you are in the middle of the sales invoice but want to record another new sale or any other voucher? You are the middle of making sales invoice but got a call from a customer inquiring about the stock position or pending order? There is an immediate need to print another report being in middle voucher entry. With TallyPrime’s ‘Go To’ and ‘Top menu’, you will be able to handle many such situations without the hassle of switching between multiple instances of Tally or the worry of losing your progress. #### Fully flexible to personalize your invoice With a host of invoice configurations and options in [TallyPrime UAE](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php), you can personalize the invoice according to your preference. You can configure your invoice with additional options such as inclusive of tax, discount column, actual and billed qty. etc, to meet your business needs. Not just that, you can personalize your invoice with logo and other details as it suits you. Thus, making it even more customized to your business.  With TallyPrime, invoicing is no more troublesome and time-consuming. Why wait? Install TallyPrime and give a try. We Peniel Technology LLC are the Official Tally Gold Partner in UAE. Source and Reference: [https://tallysolutions.com/](https://tallysolutions.com/)

VAT in Oman: Value Added Tax: 5%

Oman will announce a value-added tax (VAT) system associated with the GCC VAT Framework with effect from April 2021. The standard rate of VAT will be 5%, making it one of the lowermost rates in the world. It is consistent with the GCC Unified Agreement with provisions for zero-rating and exceptions in the Oman VAT Law. Oman turns out to be the fourth Gulf Cooperation Council (GCC) member state to implement VAT, along with the UAE, Kingdom of Saudi Arabia, and Bahrain. **VAT execution in Oman** The online registration for VAT is live from 1st February 2021 until 15th March 2021 for taxable individuals with yearly supplies beyond or likely to exceed One million (OMR). The voluntary registration will also be accessible for taxable individuals with yearly supplies or expenses beyond or expected to exceed (19.250) OMR. The registration should be done through Oman’s official Tax Authority’s Online Portal. In the [implementation of Value Added Tax](https://www.penieltech.com/) Law, one must register with the Tax Authority according to the given data: **Category** **Registration Due Date** **Effective Date of Registration** If the cost of annual goodssurpasses or is likely to go beyond 1,000,000 Omani Rials February 1 - March 15, 2021 April 16, 2021 If the cost of annual goods is between 500,000 and 1,000,000 Omani Rials April 1-  May 31, 2021 July 1, 2021 If the yearly value of goods is between 250,000 and 499,999 Omani Rials July 1 - August 31, 2021 October 1, 2021 If the yearly value of goods is between 38,500 and 249,999 Omani Rials December 1 - February 28, 2022 April 1, 2022 **Conclusion** With VAT being implemented throughout Oman on April 2021, industries have a limited period to get set for VAT. Industries or businesses in Oman should self-assess their VAT registration responsibility in Oman. Therefore, every business should keep VAT records of at least ten years from the end of the year to which they are associated for review. VAT returns must be filed electronically and are estimated that the VAT period will be a minimum of one month, and VAT expenses and returns must be filed within 30 days of the completion of the tax period.  VAT being on the approach of execution, it is very crucial for a business to become tax compliant. Business holders can be well-prepared with a complete view of their business transactions and VAT compliant with the help of [Tally Prime Oman](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php).

Know More Benefits of Applying VAT in Oman

The application of Value Added Tax will be revolutionary for the country as it will not only benefit the growth of the economy but will also support the progress of the country as a whole. This would prove to be one of the critical steps that the state takes to expand its economy. Oman would turn out to be the fourth member of the Gulf Cooperation Council (GCC) to implement VAT in the single Unified VAT Agreement. **What is VAT?** VAT is a general consumption tax that is charged on dutiable goods and services that are bought and traded in Oman comprising the import of goods and services. It is taxed and collected at each phase of the supply chain right from the producer’s buying of raw materials to a seller’s sale of an end-product to a customer. Omani businesses act as tax collectors for the Sultanate of Oman and are assigned with the duty of charging, collecting, and remitting the tax to the government. Companies need to register for VAT if they happen or expect to meet a yearly deliveries threshold. **Benefits of applying VAT in Oman?** Implementing VAT in Oman is said to have a progressive impact on its growth and global competitiveness and will help in building a defensible knowledge-based economy for upcoming generations. Below are some of the most vital benefits of practicing [VAT in Oman](https://www.penielcomputer.com/om/tally-prime): **Entitled to claim input VAT reduction** Input VAT is the tax abided by the taxable person in respect of the products or services provided to him or imported to conduct the activity. The tax unpaid and payable by any chargeable person for any tax period will be figured as the excess amount, of the overall value of output tax less than the complete value of input tax-deductible for that phase. The taxable person can claim the input tax deduction in 3 years from the date of an effective tax invoice. **Reliability and business status** As VAT registration number is to be exhibited on business documents, compulsory, such statements which offer trustworthiness and authorization of businesses. With an appropriate certification in place, businesses seem well recognized and firms would desire to do business that is trustworthy. **Audit trail** With the implementation of VAT, industries will need to ensure that they are maintaining the precise records for at least 5 years for submitting for FTA upon request. This not only confirms complete compliance but also gives the actual picture of the business’s economic circumstance. Now the next plan for you would be to make your industry ready for VAT execution and can be done by selecting a business management software like [Tally Prime VAT](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php), which allows you to be VAT-ready quickly.

Multitasking Just Got Easier with TallyPrime UAE

Multitasking is something that we tend to do almost in all our everyday activities. From checking our phones while having a conversation with someone to watching TV while having our supper, we try to get most of the work done in the littlest time possible. Multitasking does not require parallel execution of multiple tasks at exactly the same time; instead, it allows more than one task to advance over a given period of time. Like how we prefer being able to juggle with different tasks simultaneously in our everyday lives, similarly, when running a business, we expect our software to allow us to multitask seamlessly. Often multitasking operating systems include measures to change the priority of individual tasks, so that important jobs receive more processor time than those considered less significant. Depending on the operating system, a task might be as large as an entire application program or might be made up of smaller threads that carry out portions of the overall program. With changing times and technological advancements, it’s imperative that your business software increases your productivity, makes you more efficient and maximises business profits. And one of the ways to come a little closer to your target is by multitasking while generating business reports. TallyPrime’s innate design gives you room to just about navigate from anywhere to anywhere. Irrespective of whatever task you are currently doing, you can move around the tool, easily without losing your current data. The powerful ‘Go To’ feature of [TallyPrime Dubai](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) allows you to easily access all reports in the application. The best thing about this feature is that it is sensitive to your unique way of referring to various reports. It helps you classify them based on both general and your own usage terms. Thus, making multitasking a cakewalk! Take a look at an example for better understanding of our ‘GoTo’ feature in TallyPrime. Let’s say you are in the middle of making a payment entry or creating an invoice for a recent purchase, but you suddenly remember to check bills outstanding before proceeding. With Go To, you will be able to handle many such situations without the hassle of switching between multiple instances of Tally or the worry of losing your progress. Refer a report and get back to exactly where you left the transaction.  Not just that, [TallyPrime UAE](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) makes it amazingly simple to create and record vouchers and masters. The various components that make up a voucher have been optimized in such a remarkable way that making entries is much faster. You can also create masters dynamically without disrupting your flow. In case,  you want to customize your vouchers and masters with the occasional details that come while dealing with a particular supplier or customer or a particular transaction type or you simply want to add more information, all you need to do is press ‘More Details’, on the side panel, choose the area of modification, enter details and you are done.  These capabilities in [TallyPrime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) will help you automate your business in an even better way by giving you options to work the way you want. The design primarily focuses on easing your life and ensuring your focus is completely on achieving your long as well as short term goals, without worrying about your company’s crucial data. Reference and Source: https://tallysolutions.com/

How to Create Business invoices in TallyPrime

Now its easier to create business invoices on tallyprime with more accuracy and flexibility. Optimized invoice components, host of configurations, multiple billing modes and so on.. makes TallyPrime really moulding to your business. Not just that, you can multi-task and handle day-to-day interruptions with ease. Multiple billing mode --------------------- Just like we say, ‘One size doesn’t fit all’, the same applies for invoicing as well. Based on the type of business you run or on the comfort level of your usage, you need a different billing mode that suits your need. With TallyPrime, you can choose different billing modes based on your comfort or business usage. If you are in a business that involves inventories, you can use “Item Invoice”. You can choose “Accounting Invoice” to record your service invoices, this is useful for service businesses as well.  Just in case you are accustomed to “Dr Cr” way of recording invoice, you can choose “Voucher mode” ### ‘More details’ to capture occasional details More details’ lets you capture occasional details that come with dealing with a particular supplier or customer or a particular transaction type, without disturbing the flow that you are most used to. Let’s say, occasionally you deal with exports or consignor-consignee type of transitions that requires you to mention the additional details. You can simply use ‘More details’ to capture it. This way, you will be able to capture occasional details without disturbing the regular flow of data entry. ### Do more while Invoicing Using TallyPrime, you can multi-task and handle the day-to-day interruptions. Let’s say, you are in the middle of the sales invoice but want to record another new sale or any other voucher? You are the middle of making sales invoice but got a call from a customer inquiring about the stock position or pending order? There is an immediate need to print another report being in middle voucher entry. With TallyPrime’s ‘Go To’ and ‘Top menu’, you will be able to handle many such situations without the hassle of switching between multiple instances of Tally or the worry of losing your progress ### Fully flexible to personalize your invoice With a host of invoice configurations and options in [TallyPrime](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php), you can personalize the invoice according to your preference. You can configure your invoice with additional options such as inclusive of tax, discount column, actual and billed qty. etc, to meet your business needs. Not just that, you can personalize your invoice with logo and other details as it suits you. Thus, making it even more customized to your business. With [TallyPrime, invoicing](https://www.penieltech.com/tally-erp9-dealer-in-dubai.php) is no more troublesome and time-consuming. Why wait? Install TallyPrime and give a try. Reference and Credit: [Tally Solution Mena](https://tallysolutions.com/)

How to Create sales receipts in QuickBooks

Use sales receipts if you receive full payment at the time of the sale. Sales receipts include payments by cash, check or credit card. 1. On the [QuickBooks UAE](https://www.penieltech.com/quickbooks.html) **Home** screen or the **Customers** menu, go to **Create Sales Receipts/Enter Sales Receipts**. 2. From the **Customer: Job** drop-down, select a customer or job. If the customer is not on the list yet, you can click **Add New**. 3. Fill in the relevant information at the top of the form like the **Date** and **Sale No**. 4. Choose the payment method. 5. In the detail area, select the item(s) you propose to do or include as a sale. **Note:** When you select or add an item, the description and amount are automatically populated based on the description and unit cost entered when the item was set up. You can delete or modify this when creating invoices. 6. If you want to apply for a discount, you need to create a discount item. 1. From the QuickBooks **Lists** menu, select **Item List**. 2. Right-click anywhere and click **New**. 3. In the New Item window, click the **Type** drop-down and select **Discount**. 4. Enter an **Item Name/Number** and a brief **Description**. 5. In the **Amount or %** field, enter the discount amount or percentage. If your discount amounts vary, you may want to leave the Amount or % field blank and enter the amount directly on your sales forms. 6. From the **Account** drop-down, choose the income account you want to use to track discounts you give to customers. 7. Select an appropriate **Tax Code** for the item then **OK**. 7. Click **Save & Close**. > Try Elate QB Addins for Free Invoicing and Custom Templates > > **[TRY NOW](https://www.penieltech.com/qb-addins-softwares.html)**

Create a journal entry in QuickBooks Online

Learn how to record journal entries in [QuickBooks Online](https://www.penieltech.com/quickbooks-online.html). Journal entries are the last resort for entering transactions. They let you move money between accounts and force your books to balance in specific ways.  Use them only if you understand accounting or you’re following the advice of your accountant. You should also have a good understanding of debits and credits. Here are a few reasons to create a journal entry. * Enter debits and credits manually, like in traditional accounting systems. * Transfer money between income and expense accounts. * Transfer money from an asset, liability, or equity account to an income or expense account. Create a journal entry ---------------------- 1. Select **+ New**. 2. Select **Journal entry**. 3. On the first line, select an account from the **Account** field. Depending on if you need to debit or credit the account, enter the amount in the correct column. 4. On the next line, select the other account you’re moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column. 5. Check the amounts - you should have the same amount in the **Credit** column on one line and the **Debit** column on the other. This means the accounts are in balance. 6. Enter information in the memo section so you know why you made the journal entry. 7. Select **Save and new** or **Save and close**. > Want To Customize journal Voucher According to your business Need? > > [_**Elate QB Addins**_](https://www.penieltech.com/qb-addins-softwares.html) > > Try Elate QB Addins - for QuickBooks Custom Invoices Free.