Tally Prime is a popular accounting software that is widely used in businesses for accounting and financial management. It offers a wide range of features that make it an ideal tool for advanced accounting. Here are some of the advanced accounting features of Tally Prime: Cost Centres: With Tally Prime, you can create and manage cost centres, which are used to track expenses by department, project or location. This allows you to have a better understanding of where your money is being spent. Multiple Currencies: Tally Prime supports multiple currencies, allowing you to easily manage transactions in different currencies. You can set up exchange rates, view reports in the currency of your choice and even generate invoices in multiple currencies. Budgets: You can create budgets in Tally Prime, which helps you to plan and control your expenses. You can set up budgets for different departments, projects or even for the whole organization. Tally Prime will provide you with reports on actual expenses versus budgeted expenses, which will help you to identify areas where you can cut costs. Bank Reconciliation: Tally Prime simplifies bank reconciliation by automatically importing bank statements and matching them with transactions in your accounting software. This saves you time and reduces the risk of errors. Audit Trail: Tally Prime maintains a complete audit trail of all transactions, which allows you to track changes made to your accounts. This is particularly useful for businesses that need to maintain compliance with regulatory requirements. Financial Statements: Tally Prime provides a range of financial statements, including profit and loss statements, balance sheets and cash flow statements. These reports can be customized to meet your specific requirements. Overall, Tally Prime offers a comprehensive set of features for advanced accounting, which makes it an ideal tool for businesses of all sizes.