Can Medical Stores Use Tally ERP For Accounting & Information Management?

Tally Customization
Tally Customization

India happens to be one of the top three medication manufacturers in the world. It also remains one of the fastest-growing drug-producing nations. Around 20 percent of the drugs consumed around the world are manufactured in India. The country is considered as a hub for generic drugs manufacturing and exports. Unfortunately, the healthcare system in India is not able to get the best out of its drug manufacturing industry. Problems start from the very first line of contact in the health care system, the country’s pharmacists.  

Accurate Documentation Of The Activities Remains Crucial 

When it comes to developing countries, pharmacies happen to be the first point of contact for most of the patients. As per studies, drug sellers in Asian countries fail to adhere to the best practices. Some of the main issues are the inappropriate supply of essential medications, insufficient history taking, and inadequate knowledge about drugs that they sell.

As far as India is concerned, non-compliance to regulations as per the Drugs and Cosmetics Act, 1940 can result in chemist license suspension.

Failing to maintain records for drugs belonging to schedule H1, selling medicines without a prescription, and poor record-keeping for sale bills are some of the common reasons behind license cancellation. Several stores also fail to maintain contact details for doctors and patients who buy scheduled H1 drugs.

Pharmacists are turning to Tally 9 (Tally Chemist)

From the audit point of view, better documentation has become critical with changing time and amendments in regulations. Thankfully, software solutions like Tally 9 can help pharmacists in documenting their contributions. 

As there are several software solutions for chemists available in the market, the industry lacks standardization when it comes to storing records. There is no uniformity in the documentation process. Thus, more and more medical stores are selecting Tally ERP 9. 

What’s Tally? 

When it comes to the list of the best financial operations management solutions around the world, Tally ERP makes it in the list of top ones. Tally ERP proves to be a lifeline for small and large firms. It can single-handedly manage resource planning, accounting, invoice management (GST compliant), corporate payroll, and automated banking. More than one million users in various countries use this software. The current version of this software is Tally ERP 9 and is owned by an Indian firm Tally Solutions. 

Its user-base consists of small and large players from educational institutes, manufacturing, retail, healthcare, and even the hospitality industry. Perhaps, its ability to offer financial analysis, purchase and supply administration tools, and stock management, along with accounting, has helped it in creating a robust and loyal user base.  

It also satisfies the basic accounting management needs like analytics, audit trial, accounts receivable, accounts payable, etc. Users can select a Full License/Single or Single User payment plan for the medical store. Tally.ERP 9 comes in Gold and Silver edition. 

A trustworthy software vendor can assist in Tally ERP 9 Customization and ensure the medical store gets the necessary features. Tally Invoice Customization can ensure compliance with local regulations. Put simply; it can be programmed to meet accounting, and information storing needs of pharmacists in India. 

Tally ERP 9 supports Windows desktop platforms with Hindi and English language options. The software integrates with multiple accounting, ERP solutions.  

These days, even doctors prefer using Tally 9 for keeping their medical profession transaction records. Software vendors can also assist you with the back end and front end technology which can help you save database-related costs. If you are looking for Tally Customization experts with experience in deploying Tally Chemist, you should consider discussing your project needs with Smart Sight Innovations.

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