New Features of TallyPrime 6.1: A Complete Overview

Published on: 14-07-2025

New Features of TallyPrime 6.1: A Complete Overview

TallyPrime has long been a trusted accounting and business management solution for millions of Indian businesses. With the release of TallyPrime 6.1, the software takes a major step forward in areas of GST compliance, invoice reconciliation, audit tracking, and MSME regulation support. This version focuses heavily on automating manual processes, ensuring regulatory compliance, and enhancing user control and visibility over financial data.

Below is a detailed overview of the key features and improvements introduced in TallyPrime 6.1:

1. Invoice Management System (IMS)

One of the flagship features introduced in TallyPrime 6.1 is the all-new Invoice Management System (IMS). This feature is designed to simplify the tedious process of matching GST purchase invoices from the GST portal with entries made in the books of accounts.

Key Highlights:

• Automatic Import of Invoices: Import invoices directly from the GST portal (GSTR-2B) into Tally. These are neatly organized in an easy-to-navigate dashboard.
• Match Status Indicators: Each invoice is marked as Matched, Mismatched, or Missing, allowing users to focus only on discrepancies.
• Action Tags: Users can mark invoices as Accepted, Rejected, Pending, or No Action, which directly affects the ITC eligibility in GSTR-3B.
• Dynamic GSTR-2B Recalculation: Based on invoice status, GSTR-2B reports are recalculated on the fly to help ensure accurate GST filing.
• Remarks and Comments: Add notes and comments against invoices for internal reference or audits. These notes can be exported as well.
• Tolerance Levels for Amount Mismatch: Small differences in amounts (as allowed by GST law) can be configured to be auto-accepted.

This system significantly improves ITC (Input Tax Credit) claim accuracy, and reduces reconciliation effort and audit risk.

2. Enhanced Edit Log and Audit Trail

TallyPrime 6.1 brings major improvements to its Edit Log capabilities, which are particularly useful for businesses that need robust audit trails.

Enhancements:

• Categorized Changes: See modified, deleted, and unchanged records at a glance.
• Voucher-Level Drill Down: View exactly what changed in a transaction, including old and new values.
• Version Comparison: Compare previous versions of masters and vouchers side-by-side.
• Filter by User or Activity: If you use user-level security, you can track who made changes, when, and how.
• Consolidated Edit Reports: Download or export logs for internal or external audit compliance.

This feature is extremely helpful for auditors, accountants, and business owners who want complete visibility and control over financial data changes.

3. MSME Compliance Support

To align with recent changes in MSME reporting norms, TallyPrime 6.1 now supports MSME vendor payment tracking and compliance.

Key Features:

• MSME Vendor Recognition: Identify and classify suppliers registered as MSMEs within the software.
• Form MSME-1 Annexure Report: Generate detailed reports that include vendor PAN, invoice amount, payment due dates, and whether the payment was made within the statutory 45 days.
• Late Payment Flagging: Easily identify and act on delayed payments that may attract penalties or need disclosure under law.
• Export to Excel for MCA Filing: Data is formatted and ready for upload to the Ministry of Corporate Affairs portal.

This feature is ideal for companies dealing with multiple small vendors and ensures compliance with MSMED Act requirements.

4. Improved Banking and Reconciliation

Banking and reconciliation processes have also seen significant improvements in TallyPrime 6.1.

Enhancements:

• Bank Reconciliation Post-Split: After splitting company data, unreconciled transactions are automatically carried over and shown in the new BRS (Bank Reconciliation Statement).
• Auto-Suggestions for Reconciliation: The software intelligently suggests possible matches during reconciliation, reducing manual effort.
• Bank Date Visibility: Dates from the bank statement are now visible for each reconciled entry, improving traceability.
• Reverse Payment File Imports: Payment status files can now be imported from any location on your system, and statuses are clearly shown as Accepted, Failed, or Pending.
• Multi-Company Sync Consistency: Sync operations have become more robust, ensuring bank data stays consistent across synced companies.

These enhancements save hours of manual work and reduce the risk of reconciliation errors.

5.  GST Return Filing Made Simpler

TallyPrime 6.1 has made a series of improvements in GST reporting and filing, aligned with real-world usage.

GST Features:

• GSTR-2B Integration with IMS: GSTR-2B entries are automatically brought into the system and reconciled using the new IMS.
• Invoice Rejection Handling: Rejected invoices in IMS are automatically excluded from ITC calculations but retained for record-keeping.
• Flexible Export Formats: You can now export GSTR-1 and other GST forms in .csv and .xlsx formats based on your filing preferences.
• Tolerance for Minor Differences: You can configure a threshold value to accept invoices with minor differences in amount.

These changes help ensure accurate and compliant GST filings, even when there are mismatches or portal-side differences.

6. Other Functional Improvements

Beyond compliance and reconciliation, TallyPrime 6.1 brings quality-of-life updates across the board:

• Faster Startup and Load Times: The application opens and processes reports faster, especially for larger datasets.
• Improved Excel Exports: Export formats are more readable, and preserve headers, filters, and alignments.
• Bug Fixes and UI Refinements: Minor layout and usability tweaks have been implemented to improve navigation and reduce confusion.

 Conclusion

TallyPrime 6.1 is not just a routine update—it’s a compliance-focused, audit-ready, and efficiency-enhancing upgrade. The new Invoice Management System, coupled with MSME compliance support, Edit Logs, and banking improvements, makes this version especially useful for medium to large businesses dealing with GST, audits, and statutory filings.

Whether you're an accountant, business owner, or compliance officer, this release ensures that you stay one step ahead in terms of accuracy, efficiency, and legal compliance.

Recommendation: If you're still using an older version of TallyPrime or Tally ERP 9, it's the right time to upgrade to 6.1 for smoother operations and peace of mind.