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Answer Tally accounting refers to the use of Tally software for managing financial transactions and records of a business. Tally is an accounting software widely used by businesses to automate and streamline their accounting processes. It helps in recording financial transactions, managing inventory, generating invoices, tracking expenses, and preparing financial statements like balance sheets and profit and loss statements. Tally accounting software is known for its user-friendly interface and comprehensive features, making it suitable for small, medium, and large businesses alike. It also ensures compliance with tax regulations and standards, providing businesses with accurate and reliable financial information for decision-making and reporting purposes.
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