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Tally cloud

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Sourabh Katiyar

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135 Points Joined February 2011

Respected members

Can we use tally cloud for book keeping and edit log features.

And will it not violations of law to mendate books of account in the business premises.

Pls advice

Replies (1)

Rama chary Rachakonda

Master in Accounts & high court Advocate

9434 Points Joined December 2011

Yes, Tally Cloud can be used for bookkeeping and editing log features. Tally Cloud is a cloud-based version of the popular Tally accounting software, which offers various features, including: 1. _Bookkeeping_: Manage financial transactions, accounts, and ledgers. 2. _Editing log features_: Track and manage changes made to transactions, entries, or accounts. Regarding the second part of your question: As per accounting standards and tax laws, businesses are required to maintain accurate and transparent books of accounts. Altering or manipulating books of accounts is a violation of law and can result in legal consequences. However, editing log features in Tally Cloud or any other accounting software are designed to: 1. _Track changes_: Record changes made to transactions or accounts for audit trails and transparency. 2. _Correct errors_: Allow for corrections of genuine errors or discrepancies. 3. _Ensure accountability_: Maintain a record of who made changes and when. To ensure compliance with laws and regulations: 1. _Consult a chartered accountant_: Ensure proper setup and usage of Tally Cloud or any accounting software. 2. _Follow accounting standards_: Adhere to relevant accounting standards and tax laws. 3. _Regular audits_: Conduct regular audits to ensure accuracy and transparency in financial records. Remember, editing log features should be used responsibly and within legal boundaries.

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