TallyPrime 6.1 was a compliance-heavy release that brought two features Indian businesses had been waiting for: the Invoice Management System (IMS) and a comprehensive Edit Log. Building on the Connected Banking foundation of TallyPrime 6.0, this update focused on making audit compliance, MSME reporting, and GST reconciliation significantly easier within TallyPrime.
Whether you are preparing for an audit, managing MSME supplier payments, or reconciling GST input tax credits, TallyPrime 6.1 added the tools you need. Here is a complete breakdown of every feature.
What's New in TallyPrime 6.1
TallyPrime 6.1 delivered four major capability additions: the Invoice Management System for inward supply tracking, Edit Log for complete audit trail compliance, MSME Form 1 Annexure for supplier payment reporting, and significant banking and GST compliance improvements. Each feature addressed specific regulatory requirements that previously required manual processes or third-party tools.
Invoice Management System (IMS)
The Invoice Management System is a comprehensive dashboard for managing inward supplies. It consolidates all purchase invoices received from suppliers and gives you control over how they are treated for GST input tax credit purposes.
Inward Supplies Dashboard
The IMS dashboard displays all invoices reported by your suppliers in their GSTR-1 filings. You can view invoice details, compare them against your recorded purchases, and identify discrepancies without leaving TallyPrime.
Action Tagging
Each invoice in the IMS can be tagged with one of four actions:
- Accept: Confirms the invoice is valid and the corresponding ITC should be claimed.
- Reject: Marks the invoice as incorrect or disputed. The ITC will not be claimed.
- Pending: Keeps the invoice for later review when details need verification.
- No Action: Leaves the invoice in its default state for automatic processing.
ITC Summary and GSTR-2B Recomputation
Based on your action tags, TallyPrime automatically recomputes your eligible ITC. The ITC summary reflects only accepted invoices, giving you an accurate picture of claimable credits. The GSTR-2B is recomputed in real time as you tag invoices, ensuring your return filing matches your business decisions.
Invoice Remarks
You can add remarks to individual invoices in the IMS, creating a record of why specific decisions were made. This is particularly valuable during audits when you need to explain why certain invoices were rejected or kept pending.
Edit Log Feature
The Edit Log in TallyPrime 6.1 provides comprehensive change tracking for all vouchers, a critical requirement for MCA compliance and internal audit processes.
What It Tracks
- Altered vouchers: Any voucher that has been modified after its initial creation, with details of what changed.
- Non-altered vouchers: Vouchers that remain in their original state since creation.
- Deleted vouchers: A record of all deleted vouchers, including who deleted them and when.
- Version counts: Each voucher maintains a version history showing the number of times it has been modified.
Edit Log Summary
The Edit Log Summary provides a high-level overview of all changes across your company data, with powerful drill-down capabilities.
- Drill-down navigation: Click on any summary entry to see the detailed change history for that specific voucher.
- Filter by activity type: View only alterations, deletions, or specific types of changes.
- Filter by version period: Narrow down changes to a specific date range.
- Filter by users: In multi-user environments, see which user made each change.
This level of audit trail visibility was previously only available through specialized audit software. Having it built directly into TallyPrime simplifies compliance for businesses of all sizes.
MSME Form 1 Annexure
TallyPrime 6.1 added support for the revised MSME Form 1 Annexure, which companies must file with the MCA to report payments to MSME suppliers.
Key Capabilities
- Revised annexure format: Compliant with the latest MCA requirements for MSME payment reporting.
- Supplier PAN and bill details: Automatically populated from your TallyPrime records.
- 45-day payment windows: TallyPrime tracks the 45-day payment window for each MSME supplier and highlights overdue payments.
- Excel export to MCA template: Export the completed annexure directly in the MCA's prescribed Excel format for upload to the MCA portal.
Struggling with IMS or MSME compliance? Our certified consultants at Mark IT Solutions handle IMS setup, Edit Log configuration, and MSME reporting for your business. Contact us for expert assistance.
Banking Improvements
The Connected Banking features introduced in TallyPrime 6.0 received several enhancements in this release.
- Split company unreconciled transactions: When splitting company data, unreconciled banking transactions can be carried forward as Opening BRS in the new dataset.
- Manual reconciliation enhancement: Improved interface for manual reconciliation with better transaction matching suggestions.
- Auto-reconciliation configuration: More granular control over automatic reconciliation rules, including tolerance settings and matching criteria.
- Bank date visibility: Bank-recorded dates are now visible alongside TallyPrime voucher dates for easier reconciliation.
- Payment reverse file import: Support for importing payment reversal files from banks, automatically matching reversed transactions.
GST Compliance Upgrades
TallyPrime 6.1 brought several improvements to GST compliance workflows.
- Flexible reconciliation: Handle situations where taxable amounts differ between your records and the supplier's filing, with configurable tolerance levels.
- Offline GSTR-1 filing: Export GSTR-1 data as Excel or CSV for manual upload to the GST portal, useful when direct filing connectivity is unavailable.
- Rejected invoice section in GSTR-2B: Invoices you reject in the IMS are now properly reflected in the GSTR-2B reconciliation.
- Auto-reconciliation for IMS: Automatic matching of IMS invoices with your recorded purchases based on invoice numbers, amounts, and party details.
You can verify your GST calculations using our free GST calculator or check HSN codes with the HSN Code Finder.
How to Upgrade from TallyPrime 6.0
Upgrading to TallyPrime 6.1 from 6.0 is straightforward with an active TSS subscription:
- Open TallyPrime and go to Help > Check for Updates
- Download version 6.1 and follow the installation prompts
- Your existing data, including Connected Banking settings, migrates automatically
- Enable Edit Log from Company Features > Audit Features if required for your business
If your TSS has expired, renew your subscription to access this update.
What Came Next: TallyPrime 6.2 and 7.0
TallyPrime continued to evolve after version 6.1:
- TallyPrime 6.2 added multilingual invoicing with Arabic support and UAE VAT e-Return filing capabilities.
- TallyPrime 7.0 introduced TallyDrive cloud backup, SmartFind instant search, and further IMS enhancements. See the complete TallyPrime 7.0 feature guide.
If you are on TallyPrime 6.1, upgrading to the latest version gives you cloud backup, enhanced search, and expanded multilingual capabilities.
