Tally.ERP 9 Release 5.4.5 comes with the e-Payments feature, which enables you to directly upload (for DBS Bank) or export (other banks) payment instructions to the bank portal. This release also provides other product improvements over Release 5.4.
In Release 5.4.5, with the e-Payments feature, DBS Bank customers can enjoy integrated online payment services. If you have logged in to your company with your Tally.NET ID, which is registered with your DBS Bank account, you can
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● Send transactions to your DBS account ● Send e-Payment transactions directly from the voucher to your DBS account ● Track duplicate entries of bank details when transactions are sent to the bank ● View status of transactions that have been sent to the bank |
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The Banking feature is enhanced with easy and convenient data entry, enabling you to record transactions easily and make payments to your suppliers and vendors quickly.
The e-Payments report is enhanced to make it more interactive and effective for your business needs. This report displays the following four categories of transactions:
● Transactions with incomplete information – This category displays transactions in which mandatory bank details have not been specified.
● Transactions with information mismatch (with master) – This category displays transactions in which the bank details specified do not match with the bank details specified in the bank master.
● Ready for sending to bank – This category displays transactions which are ready to be sent to the bank.
o DBS bank: Transaction can be sent to the bank by clicking Send to bank. While sending transactions to bank, potential duplicate entries are displayed, allowing you to reconfirm the e-payments.
o For e-Payments enabled bank: Drill down on Ready for sending to bank and export the transactions.
● Transactions sent to bank (unreconciled) – You can track the status of the transactions already sent to the bank.
From this report, you can also:
● Refresh the status of the transactions sent to the bank and view the last refreshed date and time.
● Sort transactions status-wise in decreasing or increasing alphabetical order.
● Log in to the DBS portal by clicking the Authorise button to authorise transactions.
● Enable Ignore transactions with information mismatch? in F11 configurations to ignore transactions with mismatch with masters. These transaction will then move under Ready for sending to bank.
● Now, the use of Bank Allocations for payments and receipts is made flexible. You can use it in the F1: Condensed or Detailed mode, based on your requirement. This will ensure quick and easy data entry.
● Ledger-wise bank allocation can be done by enabling the option Set ledger wise bank allocation in F12: Configure.
● While creating your bank master, you can enter all bank details on the main Ledger Creation screen.
● You can now select the Bank name from the List of Bank Names drop down in masters (party, cost-centre and employee). The Bank Name field in transactions also has been changed from a text field to drop-down list. You can select the bank from the list or specify a new bank name, if the bank name is not listed.
● Effective date of reconciliation appears based on the configurations set in F12: Configure.
● In banking master, BSR Code field is displayed only if one or more statutory features (Excise, Service tax, TDS, TCS, Payroll) are enabled.
● By default, one beneficiary details for a party can be provided. To enter multiple beneficiary details, set Allow multiple beneficiary details? to Yes in F12: Configure. This will enable the Ref. ID field.
● You can now use the F12: Configure options in the Bank Details screen of masters (party, employee, cost centre) and Bank Allocations screen of vouchers to configure the bank allocations fields.
● The e-Fund Transfer option is introduced in place of Inter Bank Transfer and Same Bank Transfer. When you record a transaction, the payment type (Same Bank or Inter-Bank transfer) is automatically detected based on the bank name selected in the bank master, and Bank Allocations screen of transactions.
Transactions recorded before upgrade to Release 5.4.5, with Inter Bank Transfer and Same Bank Transfer as Transaction type, will show Transaction type as e-Fund Transfer after the upgrade.
● The validation message against invalid or incorrect IFS code entry is revised to assist you with entering valid IFS codes while entering bank details.
● All bank names are now suffixed with their respective country names. This helps to avoid ambiguity and makes it easy to select a bank name specific to a location. This option is also available in transactions, while selecting the bank name in Bank Allocations screen.
● The Banking Features under F11: Features have been reorganized for ease of enabling the additional banking features.
● The option Importing of Payee Bank A/c Details has been moved from F11: Features to Gateway of Tally > Import Data > Bank Details.
● Additional security level options are added with respect to e-payments under Gateway of Tally > Company Info > Types of Security > Security Levels:
o e-Payments: Accept as is
o e-Payments: Send to Bank
● A provision is made to export TDS 26Q & 27Q, TCS 27EQ & Salary TDS 24Q return forms in text files compatible with latest e-TDS/TCS FVU tool version 5.2. Changes are made in the product to support the new fields introduced in the latest version of the FVU tool.
● The following e-VAT Form 13 template changes for VAT rate introduced by the department, effective from 10th of August, 2016 are supported in Release 5.4.5:
o The VAT rates 0.75%, 2%, 7.5% and 15% are added for sales and purchase transactions.
o The VAT amount Rs.1850, Rs.1450, Rs.975, Rs.775 and Rs.750 per thousand sticks for filter cigarettes and cigarettes are supported in Form 13.
● The e-CST Form III template changes for VAT rate 6% and 15%, effective from 4th of July and 10th of August 2016 respectively, are supported.
● The printing of CST Form III with VAT rate 15% is supported.
● The following enhancements are made to support the changes in TN VAT annexure formats:
o The option Other than Section 12 is provided in Statutory Details screen of purchase transaction recorded for exempt goods from unregistered dealer. This option is exported to Purpose of Purchase column in annexure 3 and rate of tax is updated as 0%.
o A provision is made to select Agent as Company Nature of Business in ledgers with Sales Exempt as nature of transaction. An option Is Principal Account? is provided in transactions recorded for exempt sales and transaction is exported to annexure 16 or 17 based on this option.
● As per the new ST 3 returns, the following changes have been introduced in Service Tax Details screen of F11 > Statutory and Taxation features:
o The organisation type Individual/Proprietary is renamed to Individual/Proprietary/One Person Company.
o The organisation types Partnership and Limited Liability Partnership are merged, and named as Partnership/Limited Liability Partnership.
o The option Is Monthly return? is provided to set the periodicity of return for the organisation type Individual/Proprietary/One Person Company.
● The journal adjustment Adjustment Against Municipal Tax Paid is renamed to Excess Tax Amount Paid Earlier Under Rule 6(4C) Adjustment for the new ST 3 returns.
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