An inventory accounting system can help many problems of Indian SME manufacturers. These could be stock reorder levels, real time stock levels, ordering new stock on time and managing dead stock. If inventory management accounting is not done well, it can interrupt cash flow. There are many software in the market for accounting and inventory management but TallyPrime and TranZact are the most popular. But there is still confusion on TranZact vs TallyPrime and which one to choose.
In this blog post, we have done inventory software comparison in various aspects to provide you with a better choice.
About TallyPrime
TallyPrime inventory accounting software is a software designed for all sizes of business. These businesses may include SMEs and/or large enterprises. Inventory management in Tally Prime is very easy. Using Tally Prime inventory management, you can easily handle multiple price lists of a product and set up discount rates. You can also manage various compliance, invoicing, cost control, and cost analysis.
About TranZact
TranZact is one of the best software specially designed for inventory management for SMEs manufacturers. It helps to digitize the entire business from enquiry to dispatch. It also integrates with Tally to streamline the accounting process. TranZact helps businesses to keep records of sales and purchased goods.
Using TranZact inventory management, you can monitor the inventory levels in real time and have effective material resource planning (MRP). The system helps to send online quotations, effective production planning, and generate GST invoices.
Features: TallyPrime vs TranZact
TranZact and TallyPrime offer a range of features designed to meet the needs of businesses. Let's understand the features of TallyPrime accounting software and later compare TranZact vs TallyPrime.
TranZact provides 5 modules - sales, purchase, inventory, production and planning. These features provide business dashboards, received and payments management, order management, GST invoicing. You can also do RFQ and quote comparison, get payment reminders, create multi level BOM, get inventory level updates.
TranZact helps you with production planning, managing multiple warehouse management, material requirement planning, purchase status tracking, invoicing, e-way billing, inventory management, GST documentation. All this in the end helps with better cash flow management. It works on iOS, Android, Linux, and Windows. Customer support for TranZact includes phone support, online assistance, a knowledge base, and video tutorials.
TallyPrime also offers a good set of features as well. These include accounting, invoicing, e-way billing, inventory management, reporting, banking, GST compliance, and cash flow management. It provides customer support through phone, online services, a knowledge base, and video tutorials.
Both TranZact and TallyPrime are equipped to support businesses with their operational and financial management needs, making them valuable tools for businesses aiming for efficiency and growth. But, TranZact is an overall business solution and also integrates with Tally.
Difference between TallyPrime and TranZact
The biggest difference between TallyPrime and TranZact is that TranZact is especially made for managing manufacturing operations in Indian SMEs. It was developed recently with the latest technology and has a very easy to use interface. But TallyPrime usually requires financial professionals to handle it.
While TallyPrime offers accounting operations that are crucial for any company, TranZact helps with the documentation necessary for accounting. TranZact features help you to track all the business activities from enquiries to dispatch. But Tally provides the financial report required for different purposes in business.
TranZact is a cloud-based software that can be accessed through various devices that support internet connection. But, TallyPrime is only supported in LAN networks for multiple users. You can get Tally, WhatsApp, Zoho, and other applications integrated into your TranZact account but no API integration is available in TallyPrime
Price
Look at our comparison section below before making your decision.
TranZact
TranZact inventory management software offers flexible pricing plans, and you can choose one that fits your business requirements. Below are the details of TranZact’s pricing plans:
- With TranZact, there are no usage based charges. You only pay for what you want.
- It offers a free plan that provides features like inventory tracking, stock history, stock valuation, etc. It is a great option for Indian startups to manage their operations in the beginning.
- Its small plan is priced at Rs.3,999 per month. Up to five users can operate the software for different tasks in this plan. This plan offers features like advanced lead management, e-invoicing, batch tracking, WhatsApp/Tally/ Zoho/ integration, etc.
- Its medium plan is priced at Rs.9,999 per month. Up to 10 users can operate the software in this plan. This offers features like multi-level bills of material, production costing, document approvals, Google Sheets MIS integration, etc.
- Its enterprise plan is priced at Rs.29,999 per month. At least 15 users can operate the software in this plan. This plan comes with advanced business intelligence and reporting tools and enhanced production and inventory management capabilities.
TallyPrime
TallyPrime offers no free trial. Let’s understand TallyPrime pricing.
- SILVER RENTAL: This is Single user edition and is for standalone PCs. The price is INR 750 +18% GST (INR 135) per month.
- SILVER: This is also a Single user edition and is for standalone PCs but payment is perpetual. The price is INR 22,500 +18% GST (INR 4,050).
- GOLD RENTAL: This plan has Unlimited multi-user edition for multiple PCs on LAN environment. The price is INR 2,250 +18% GST (INR 405) per month.
- GOLD: This plan also has Unlimited multi-user edition for multiple PCs on LAN environment but payment is perpetual. The price is INR 67,500 +18% GST (INR 12,150).
TranZact vs TallyPrime: What’s better?
Both software have their benefits respective to their industry. Managing inventory in Tally Prime is good for big companies. But as we compare TranZact vs TallyPrime, TranZact is more beneficial. TranZact is specially made for the Indian SME manufacturing businesses and allows the management of the production inventory too. If you want a solution that streamlines our production line, then TranZact is the best.
FAQs
Q1. Which version of Tally is best for business?
TallyPrime offers advanced features like cloud integration and user-friendly access. This feature makes it the best version for businesses.
Q2. What are the drawbacks of using TallyPrime?
Following are the shortcomings of TallyPrime.
- Complex to use for beginners
- Offer less data security
- Single window software
- Not ideal for remote access
- No API integration
Q3. How is TranZact useful for small businesses?
TranZact is especially made for Indian SME manufacturers and traders. It:
- helps to manage inventory effectively
- simplifies inventory management with inventory overview, real-time monitoring, and automation.
- offers various inventory management systems
- integrates various APIs, like Tally
- Is designed to scale with your business
Q4. What is the difference between ERP and accounting software?
Accounting software helps in managing and automating financial activities. ERP software is a CRM solution that helps in managing the whole business, including accounts.
Q5. Is TranZact an accounting software?
TranZact is an easy-to-use software especially made for Indian SME manufacturers and traders that helps with inventory management. TranZact is free forever, integrates with accounting softwares, and offers 24x7 lifetime support.
