Social ,26 Apr 2025

TallyPrime 6.0 launches Connected Banking

Tally Solutions has launched TallyPrime 6.0, introducing the Connected Banking feature aimed at revolutionizing financial operations for Small and Medium Enterprises (SMEs) in India. This integration brings banking functionalities directly into the TallyPrime accounting software, streamlining processes such as bank balance checks, statement retrievals, and transaction reconciliations.​

 

What is Connected Banking in TallyPrime?

Connected Banking in TallyPrime 6.0 allows users to access their bank statements and balances directly within the software, eliminating the need to log into separate banking portals. This feature enhances efficiency and accuracy in financial management by automating routine banking tasks.​

 

Key Features of Connected Banking

1. Direct Bank Integration

TallyPrime 6.0 integrates with major banks like Axis Bank and Kotak Mahindra Bank, enabling real-time access to banking information within the Tally interface.

2. Real-Time Bank Balance Checks

Users can instantly check their bank balances from TallyPrime, facilitating informed decision-making for payments and financial planning. ​

3. Automated Bank Statement Retrieval

The software allows for seamless retrieval and import of bank statements, simplifying the reconciliation process and reducing manual data entry errors. ​

4. Secure User Access Management

Administrators can manage user access to connected banking features, ensuring that only authorized personnel can view or perform banking operations within TallyPrime. ​

 

Setting Up Connected Banking

To activate Connected Banking in TallyPrime:

1. Ensure you have an active TallyPrime license and a valid Tally Software Services (TSS) subscription.
2. Log in with your Tally.NET ID and link your mobile number for OTP verification.
3. Navigate to Alt+Z (Exchange) > All Banking Options > Bank Connections to add and connect your bank accounts.
4. Follow the on-screen instructions to complete the integration with your bank. ​

 

Benefits for SMEs

1. Enhanced Efficiency: Streamlines banking and accounting processes, saving time and reducing errors.
2. Improved Financial Control: Real-time access to bank data aids in better cash flow management.
3. Data Security: Secure login and user access controls protect sensitive financial information.
4. Simplified Compliance: Automated reconciliation supports accurate record-keeping and compliance with financial regulations.​

 

Conclusion

The launch of Connected Banking in TallyPrime 6.0 marks a significant advancement in integrating banking and accounting for SMEs. By bringing banking operations into the accounting software, Tally Solutions empowers businesses to manage their finances more efficiently and securely.