There are many accounting packages are available in the market, Tally remains the undisputed king of all financial accounting packages. Tally is capable of handling any kind of transaction you would need, whatever your business. In order to use tally, you neither need to learn new accounting methods nor should change your existing style of handling accounts. The information can be fed as well as retrieved at random and all human errors can be corrected. A transaction in accounting terminology means transfer of money or money’s worth from one party to another, for example sale of goods, purchase of furniture etc. are examples of transactions. Fundamentally there are two systems of transactions: Pre transaction and post transaction.Tally is a post transaction system. It follows the traditional methods of accounting, that is, the payment is first made on the basis of existing accounting methods (i.e., against a voucher or a cash bill) and that information is fed into the Tally. The simple fact that your existing system of accounting remains untouched by Tally is a big reason behind the success of this package.