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Tally Automation
Dec 13, 2023

TallyPrime 3.0.1 and 4.0 - Complete Walkthrough and Latest Features

Divyesh Gamit



TallyPrime is a business management software that focuses on making things easier and faster for users. The recent releases, TallyPrime 3.0.1 and TallyPrime 4.0 bring a host of features designed to elevate your business experience. 

Let's explore the key highlights of each release. They can reshape how you approach e-invoicing, GST return filing, and business communication.

TallyPrime 3.0.1: Streamlining E-Invoicing and GST Return Filing

The e-invoice report can help you solve problems more efficiently, meaning fewer portal rejections. Plus, there have been some updates to the GST system that make things even better for exporting and using HSN/SAC codes. Let’s see in detail:

E-Invoicing Feature Enhancements

  •  Simplified Correction for E-invoicing

TallyPrime 3.0.1 now has a better e-invoice report, so users can easily find and fix problems that occur while generating e-invoices. This minimises rejections on the e-Invoice portal by allowing users to make corrections in TallyPrime for a smoother invoicing experience.

Thus, resolving the following problems from Uncertain Transactions is a breeze: 

  • Fixing missing or incorrect State information for Consignee (Ship To) and dispatch From. 
  • Handling inconsistencies between State and Pincode. 
  • Rectifying differences between HSN and Type of supply. 
  •  Managing invoice numbers that start with zero.

  • Handling Billed Quantity & Actual Quantity

Billed Quantity and Actual Quantity can now be smoothly managed for e-invoicing purposes. Your e-invoices will be generated without any troubles, even if the Billed Quantity surpasses the Actual Quantity in your transactions.

  • Improved Handling for Foreign Parties

Generating e-invoices for foreign parties is now more streamlined. Generating e-invoices shouldn't be a problem, even if you're providing services to an overseas party and billing a local or interstate party in India.

  • Dispatch From details

The e-invoice transactions will now display Dispatch From details with improved clarity. Enabling the Provide Dispatch From details option only once is necessary, but thereafter, updating the details in the next transactions will be hassle-free.

  • Integration of e-Way Bill

It's now simpler to generate an e-way bill and e-invoice. E-Way Bills can be generated easily for credit notes and transactions under the threshold. 

  • UoM Handling

It's much easier to handle UoMs in e-invoicing now. Even if UoM is not being used, you can easily create e-invoices for goods and services. 

  • Alignment of Party GSTIN/UIN

Does your company's GSTIN/UIN match that of your party? Not a problem! These transactions can now be easily uploaded to the portal. 

All you need to do is navigate to the Uncertain Transactions section and acknowledge that the Party GSTIN/UIN and the Company GSTIN/UIN are the same. You can upload your transactions at that point.

Also Read: Master the Keyboard: Essential Tally Prime Shortcut Keys

GST Module Improvements

  • Flexibility for Blank HSN/SAC

Businesses with a turnover of less than 5 crores can now choose not to report HSN/SAC details, which reduces their burden. Because of this, TallyPrime 3.0.1 gives you the incredible flexibility to accept and treat these transactions (from Uncertain Transactions) as included.

  • Smoother JSON Export from GSTR-3B

It's much easier now to file GSTR-3B using JSON. Every section and transaction detail will be included in the GSTR-3B JSON exported from TallyPrime 3.0.1. You can easily update the values on the portal by exporting even the sections with zero values.

TallyPrime 4.0: A Leap in Communication and Data Management

The exciting new features included in TallyPrime 4.0 will increase your overall experience with Tally. 

TallyPrime 4.0 with WhatsApp for Business

  • TallyPrime Release 4.0 integrates WhatsApp for Business, enabling businesses to communicate instantly with stakeholders. Send documents, invoices, and reminder letters to multiple parties in a single click. 
  • Domestic parties in India can also make instant payments via payment URLs in invoices and reminder letters sent through WhatsApp.
  • Using TallyPrime 4.0, you can sign up for WhatsApp for Business. You can still send documents via email using TallyPrime, but now you won't have to worry about the recipient seeing it and taking action.

Effortless Data Import from MS Excel

Manually inputting data is a task that consumes a significant amount of time and is prone to errors. To tackle this, TallyPrime Release 4.0 offers a smooth MS Excel import feature in addition to the current XML file import option.

Here is what you will get:

  • Importing masters and transactions from Excel is now easy. 
  • Use any of the available default templates/sample Excel files. 
  • Map data that is kept in any Excel workbook to TallyPrime fields, irrespective of the order or format. 
  • Identify import errors from the logs created during the import process.

Graphical Dashboard for Business Insights

Analysing business information using intuitive formats is made possible with Dashboards in TallyPrime, which provides a visual tool to form financial insights. The Dashboard feature allows business owners, finance managers, and consultants to make decisions based on data that will drive growth and success. The graphs and charts found in different tiles make it easy to monitor cash flow, track revenue trends, analyse expense patterns, and get a comprehensive view of your financial position and ledger balances for periods of your choice. 

TallyPrime 4.0's dashboard is customizable, enabling you to:

  •  Add or remove tiles, customise each one separately, and add or remove data points.
  • Use user rights to limit access to dashboards. Certain tiles won't show up on a user's dashboard if their access to them is restricted. 
  • Make distinct dashboards for various uses, arrange tiles to suit your tastes, and preserve the views. 
  • When a Company is opened, a dashboard loads as your home screen. 
  • Print, export, and share with stakeholders via WhatsApp or email.

Also Read: Import Data from Excel to Tally In 3 Easy Steps

Product Improvements in TallyPrime 4.0 Across Various Modules

Product Improvements in a Bird's Eye View:

  • Printing invoices is now more effective, allowing you to include both Previous and Current Balances for a party at the time of printing.

  • Now, QRMP dealers can upload a single JSON file containing all of the quarter's GSTR-3B data to the GST portal for GSTR-3B filing.

  • You can also see the party GSTIN/UIN if you navigate down from the Input Tax Credit Available section and view it party-wise. 

  • Explore TallyEdge through the Exchange menu in TallyPrime. 

  • Explore TallyPrime 4.0 Powered by AWS from the TallyPrime Help menu

  • According to the most recent version of FVU Tool 8.2, you can now export the return reports listed below: 

  • Salary TDS Form 24Q 

  • TDS Form 26Q 

  • TDS Form 27Q 

  • TCS Form 27EQ

  • When you cancel one or more sales invoices, the GSTR-1 Document Summary will include the total number of cancelled vouchers for all of the months. 

  • It is now possible to include GST ledgers in RCM purchase vouchers and URD purchases; you can be sure that these vouchers will be included in the returns. 

  • Revised GST Amount after Overriding GST Rate

  • The GSTIN/UIN will now be printed in job workout orders.

  • The Taxable and Tax Amounts are used to double when a transaction is included in two separate sections. You can now see the accurate Taxable and Tax Amount when viewing GSTR-3B in Nature View, which makes the process much more seamless.

  • Vouchers for tax-exempt imports of services will now only appear in section 4A. Input Tax Credit Available; they will no longer appear in section 3.1d. Inward Supplies (Applicable for Reverse Charge).

  • Smooth GSTR-1 Export When Data Was Imported from Another Software

  • With the same Bill of Entry No., you can now record multiple purchase vouchers, and the transactions will be included in returns.

  • With the following features, stock items on vouchers where the Unit of Measurement is not applicable can now be uploaded:

  • When a goods voucher is created, the UoM will appear as OTH. 

  • When a service voucher is created, the UoM will appear as NA.

  • Seamless Creation of Vouchers with GST Data

  • The problem has been fixed in which the MS Excel file exported via ODBC did not contain the HSN/SAC, Description, or Party GSTIN.

  • Even if the HSN/SAC in a transaction is longer than 1024 characters, TallyPrime will still function properly when you open GSTR-1 and GSTR-3B.

  • You can now migrate your company's data to TallyPrime without experiencing memory-related errors if you are using TallyPrime Release 2.1 or earlier.

  • When you send the Payment Request through UPI, your buyers can now change the Amount and make partial payments.

  • The Payment Request QR Code will be generated even if the transaction has been recorded into the Cash ledger.

  • Now, even with GST turned off under F11 (Company Features), you can print the QR Code for Payment Request in the format of a Simple Invoice.

  • TallyPrime will now ask you to create the payment link before printing a voucher when you create one.

  • Seamless e-Invoice Generation

  • The configuration only applied to the first invoice that you enabled to print e-Way bills with e-invoices (under F12 in the invoice configuration). It will now apply the configuration to every invoice, regardless of whether you close TallyPrime or load an alternate company.

  • Choosing the party's Order No. when generating a Delivery Note took longer than anticipated on a client computer in a multiuser environment. You can quickly choose the Order No because of the higher performance.

  • The title of a sales invoice changes from tax invoice to bill of supply when you download it from a web browser. When you download the sales invoice from a browser, its title will still read "Tax Invoice."

  • Only employees who have chosen the New Tax Regime and have taxable income between Rs. 7,00,000 and Rs. 7,27,777 are now eligible for marginal tax relief.

  • The process of creating an invoice with the GCC VAT details will now go more easily for you because the details will remain the same regardless of the ledger and its sub-group.

Haven’t Tried TallyPrime 4.0 Yet? No worries, We Have Something Similar for You!

  • Curious about TallyPrime 4.0? Meet Suvit – your gateway to similar features and seamless business management! Do you want to try it?  Enjoy a free week trial and experience the power of Suvit to elevate your business effortlessly! Whether it's navigating the intricacies of e-invoicing, streamlining GST return filing, or fostering instant communication, Suvit continues to prove its spirit as a reliable and innovative solution for businesses of all scales.

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