QuickBooks vs Tally
Accounting software is useful for all financial operations running in a business or an organization. QuickBooks is an accounting software that was introduced recently by Intuit, for all bookkeeping operations. Tally ERP is also an accounting software which was introduced by Tally solutions. Although both of these accounting software are meant to make your financial operations easier, some of the features present in one, may be absent in the other. Here are a few comparisons made, to help you find which one suits your business the most:
QuickBooks was initially designed for the US audience, thriving in small and medium businesses. Now, they have expanded to provide an online edition for India, with Indian currency. Tally ERP has been designed completely for the Indian audience, keeping the Indian market in mind. Tally ERP has been in the market for a very long time and has very well been adapted to the Indian business trends.
2. Cloud vs On-Premise
QuickBooks is a cloud-based software that stores all data on the cloud. This reduces installation costs and maintenance. With cloud storage and access, financial data can be accessed anywhere, anytime. QuickBooks is designed for both iOS as well as Android and can be accessed through any mobile platform. Tally offers software that can be installed on a PC with Windows XP or higher. Tally is an On-Premise software platform that requires maintenance, but is comparatively more secure in data storage.
3. Ease of Use
Using an accounting software requires prior knowledge of accounting and terms related to finance. But with QuickBook’s user-friendly platform, it is not necessary to be familiar with these terms. QuickBooks provides easily accessible data for entrepreneurs who are beginners in the field of accounting. Tally calls for some experience in the field of software as well as accounting. Prior training is required to use the Tally ERP module.
QuickBooks may score brownie points in ease of use and cloud storage, but offers only a limited number of features that suit small and medium businesses. They offer unique features like automated bank transaction, invoices and more, but sometimes large businesses look for more. Tally ERP 9 is feature-rich and is compatible with SMBs as well as large businesses. They boast features for any type of business models.
QuickBooks has a yearly subscription fee, while Tally is a one time payment, until new updates release. Tally has also released a cheap monthly renewal scheme that can be used once installed. QuickBooks may not include installation charges, while Tally may do so.
Both QuickBooks as well as Tally are accounting software giants and are used by millions of people around the world. Depending on which factor your base priority, the desired software can be chosen. Accounting software is always a boon than a bane.