Glossary
Tally and VFD terms, explained
The words you’ll meet in TallyPrime, on a TRA invoice and in a Tally quote, in plain language.
- TallyPrime
- Business management software from Tally Solutions for accounting, inventory, banking, taxation, payroll and reporting in one platform. Sold in Silver (single-user) and Gold (multi-user) editions. Learn more →
- TSSTally Software Services
- A yearly subscription that adds product upgrades and updates, connected services such as data synchronization, and remote access and browser reports to a TallyPrime licence. Valid for 12 months from activation or renewal. Learn more →
- TallyPrime Silver
- The single-user TallyPrime licence: one user, and the licence can’t be shared. Learn more →
- TallyPrime Gold
- The multi-user TallyPrime licence: shared by more than one user over a LAN, with no limit on users. Learn more →
- TallyPrime Server
- A data server for businesses where many users work in TallyPrime at the same time. It adds user monitoring, the ability to disconnect users, data access control and concurrent read and write operations. Learn more →
- Rental licence
- A Tally licence rented for a period instead of bought outright, offered by Powercomputers as a cost-effective way to start. Learn more →
- VFDVirtual Fiscal Device
- Software that connects billing or accounting systems directly to the TRA portal to issue valid invoices in Mainland Tanzania, without a physical EFD. Learn more →
- EFDElectronic Fiscal Device
- A physical device for issuing TRA fiscal receipts. VFD removes the need for one. Learn more →
- TRATanzania Revenue Authority
- The tax authority whose portal VFD connects to for validating invoices issued in Mainland Tanzania. Learn more →
- VFMSZRA’s fiscal receipt system
- The Zanzibar Revenue Authority’s system for generating receipts and monitoring sales and tax collected in Zanzibar, separate from TRA’s VFD on the Mainland. Learn more →
- Z report
- The end-of-day summary of a fiscal device’s sales and tax totals. Power VFD brings multiple users onto one platform, which makes reconciling Z reports easier. Learn more →
- Voucher
- TallyPrime’s word for a recorded transaction, such as a sales invoice, purchase, payment, receipt or journal entry. Learn more →
- Ledger
- An account in TallyPrime, such as a customer, supplier, bank, expense or income account. Learn more →
- Godown
- TallyPrime’s word for a stock location, such as a warehouse, shop or branch store. Learn more →
- Cost centre
- A unit such as a department, project, branch or route that income and expenses are allocated to, so profit can be reported for each one. Learn more →
- BOMBill of Materials
- The list of raw materials, components, by-products and scrap that go into a finished item in TallyPrime. Learn more →
- Manufacturing journal
- The TallyPrime entry that records a production run: materials consumed and finished goods produced. Learn more →
- Reorder level
- The stock quantity at which TallyPrime flags an item for reordering, shown in shortage reports. Learn more →
- Powerpack
- PowerTally’s enhancement for TallyPrime, adding voucher approvals, audit management with reasons, negative cash and stock control, price controls, a dashboard and extra sales reports. Learn more →
Empowering businesses, one step at a time
Book a free TallyPrime demo with the Powercomputers team, built around how your business already works.
We’ll reply by email or phone to arrange your demo.