Accounting Professionals Use Tally Accounting SoftwareIn these companies, the accounting department records and processes all the transactions and handles all the money, while the finance department analyzes the numbers generated by the accounting department and creates budgets. In smaller companies, the finance department may handle all of these functions. If your company has either or both of these departments and you’ve been asked to work with them on creating a budget or spotting new trends, it’s a good idea to spend some time learning who does what in each department so you’ll know whom to ask what. Who’s Who In Accounting And Using Tally Accounting Software Bookkeepers are responsible for recording each transaction as it comes in and then filing that information in case it is required later. Accountants (those who would most likely use Tally Accounting Software) take the bookkeeping information and use it to asses how the company is doing. They prepare a company’s financial statement.They also use this information to make forecasts about potential ways the company can grow, for instance by increasing the price of a product or by accelerating the sell-through of inventory. Auditors look at a company’s books at certain set periods to make sure they are in order. Their job is to look for errors and discrepancies. The audit function is so important that many large companies have their own auditors on staff. These auditors conduct periodic internal audits. Note: Public companies are required to be audited once a year by an outside auditor.This is called an external audit. The controller is the chief executive accountant of the company. This person is in charge of the accounting department and also responsible for managing internal as well as external audits. The controller is not likely to use Tally accounting software as his/her underlings are.
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