Gridlex Sky offers free, effective and quick data migration including transactions, vendors, customers, chart of accounts from Tally India, Excel Exports and other accounting software.
Tally does not support migration or transfer of data from third-party software like Quickbooks, Zoho Books, etc. It only supports the migration of data across Tally platforms only. In addition, Tally does not support automated backup i.e., users have to manually take the backup of the data on a timely basis. Apart from that, users using older versions of Tally, such as 5.4, 6.3, and 7.2, cannot directly migrate their data to TallyPrime. Users have to first transfer their data to Tally.ERP 9, and then migrate to TallyPrime, which is very lengthy and time-consuming.
However, Gridlex Sky offers effective and quick data migration, including transactions, vendors, customers, items, chart of accounts (COA) from Tally, excel, or other formats to the cloud at free of cost.
In Tally, customer support systems are limited and time consuming, whereas Gridlex Sky provides in-person expert support for your queries and integration-related questions.
Tally offers a confusing set of pricing options and has plans designed to maximize price from customers. For example, the silver rental plan starts from INR 7,200 + 18% GST (INR 1,296) and can go up to INR 54,000 + 18% GST (INR 9,720).
Gridlex Sky has only one ideal plan and offers all the features at ₹7000 ( + GST) / User / Year. There are no hidden charges, no sudden pricing updates, and you get all the product updates and customization at no extra cost.
Tally doesn't provide AI-driven insights. In contrast, Gridlex Sky offers AI-driven insights that will help you increase your profits. Gridlex's AI will track your expenses and income in real time, and it analyzes the data to identify areas where you can cut costs and increase profits. Users can use Gridlex Sky accounting software to gain deeper insights of their company's financial data and work on generating better strategic decisions. Gridlex Sky improves business efficiency and competitiveness by providing an efficient decision-making management information system (MIS) report to assess your organization's performance.
Tally provides revenue and cost management features but with fixed templates which includes item invoice and accounting invoice only. Users do not have the flexibility to edit or add sections/objects/fields to the list.
Whereas, Gridlex Sky offers customized templates and provides a detailed report of the total transactions of customers and vendors. Here, users have the flexibility to add section/objects/fields to the list which allows them to track the entire revenue & cost cycle and can manage the reports by center/division/label wise.
Customer and vendor management is a crucial part of accounting software. In Tally, users do not have the flexibility to view the status of the invoices or bills i.e. the status of the transactions is not reflected. For example, if the vendor has paid the bill, or partially paid, not paid etc. Here, users may find it difficult to navigate themselves through the status of the invoices or bills.
In contrast, Gridlex Sky allows users to view the status of each invoice or bill. Users can view it as open, paid, partially paid etc. This overall improves the tracking ability of the transactions i.e. purchase and selling history.
Tally provides a complicated inventory management feature. To import the existing data, users have to manually add each entry as a new inventory item as Tally doesn’t provide a bulk import option. Apart from that, Tally does not provide deep insights of inventory items analysis i.e. users cannot view the inventory purchase insights on one dashboard.
In contrast, Gridlex Sky allows users to directly upload bulk items with stock details. Gridlex Sky AI Inventory Advisor allows users to gain inventory sales and inventory purchase insights simultaneously. Users can view their inventory performance with comparison of previous year for 30 days, 90 days, and one year on a single dashboard.
Every organization deals with multiple transactions like B2B transactions, export transactions, etc. In Tally, users cannot create different transaction templates i.e. they cannot edit/create different fields based on the transaction. For example, export transactions have different requirements compared to B2B transactions. Therefore, users have to utilize the same template for different transactions, resulting in unnecessary display of fields in the invoice.
In contrast, Gridlex Sky allows users to create customized invoices, bills, and journal transaction templates based on industry specific needs. Users can add custom fields/objects in invoice & bill and transaction templates.
Tally does not support auto syncing of transactions i.e. every time users have to import transaction history manually, which is time consuming.
In contrast, Gridlex Sky allows automatic importing of banking transactions i.e. whenever a transaction takes place, the details are directly auto synchronized in the software, reducing the time taken to import the data manually. It also allows users to access bank transactions easily with the integration of your bank accounts into Gridlex Sky, making it easy for Bookkeeping.
Tally doesn't have a built-in and updated GST and TDS Tax Line Item with Tax Rate which means users have to manually add/create the tax rate items to the section.
In contrast, Gridlex Sky has an built-in and updated GST and TDS Tax line items which assists users to add tax line items while preparing the invoices, or any other transactions which involves tax.
Tally does not provide an industry wise chart of accounts as they have a common COA across all the industries. In contrast, Gridlex Sky offers in-built industry wise charts of accounts that can be mapped from Gridlex Sky and are customized based on your sector.
Tally has an owner’s dashboard which displays only the top five insights essential for your business where users cannot view each item level performance. In addition, the data is presented in tabular form which decreases the level of understanding.
In contrast, Gridlex Sky offers an in-depth and customized reporting & analytics solution on each item (goods or service level wise) based on monthly, quarterly and yearly performance. Gridlex Sky AI advisory reports gives better reporting on analyzing the financial data where top level management can review their business performance and can track revenue and costs. In addition, the data is presented in graphical format, which increases the level of understanding.
Tally offers a standard set of options where users have to use fixed fields for invoices and management reports. This lack of flexibility hampers the organization who do not want to work in an inflexible system.
In contrast, Gridlex Sky enables you to customize invoices formats and management reports to your specific organizational need. Users have the flexibility to edit or create custom objects/fields as per their business requirements.
Tally is an offline software and has no automatic backup available. So, Tally users have to take extra efforts to manually create a backup of their data. In addition, there is a high risk of crashing when the main memory (RAM) of the computer is full, if there is no space to execute further requests, and possibility of losing the data in case of a virus or hard disk crash, etc. Gridlex Sky offers the best of security and reliability with Security-NIST Certification, Non-disclosure agreement and SLA terms.
Fixed assets are of great value for the company. These assets depreciate i.e. lose their value over time. So, it is necessary to have a Fixed Asset Management Register where all the details of these assets are recorded. In Tally, a fixed asset management register is inflexible and cumbersome. It doesn’t enable the calculation of depreciation on an asset, which causes a major problem for the companies. Users have to enter all the depreciation entries and post all the journals manually, which is very time consuming and onerous. Apart from that, Tally does not display in-detail depreciation reports and schedules charged by the Company Act and IT Act.
In contrast, Gridlex Sky offers an efficient fixed asset management register where users do not have to put efforts to calculate the depreciation entries as the software allows automatic depreciation calculation. In addition, Gridlex Sky fixed asset management register displays the depreciation reports and schedule of all the assets assigned in the system. It also displays any changes that have been made to an existing asset including additions, deletions and modifications.
Tally only provides entity wise analytics and reports. It does not provide in-depth reports & analysis based on vendor, customer, division, center, label, tax-wise, P&L balance sheet, etc. In comparison, Gridlex Sky offers an in-depth report that helps to track customer payments and improve revenue cycle and provide an invoice reminder. With Gridlex Sky, you’ll get an in-depth P&L, Balance Sheet and other reports, like Item wise profit and loss statements, Division wise profit and loss statements, Center wise balance sheet and label wise balance, that give you an unparalleled insight.
A foreign exchange gain/loss is the difference between the amount received or paid to settle a currency-related transaction, and the amount that would have been received or paid if the transaction had been settled in the functional currency of both parties. In Tally, the foreign exchange gain or loss has to be entered manually by the user, whereas In Gridlex Sky the foreign exchange gain or loss is created automatically.
Tally doesn’t support filtering of invoices based on the customer ID, invoice ID, due date of the invoices, etc as it provides filtering of invoice or bills based on the invoice date only. In contrast, Gridlex Sky allows users to filter their invoice based on the customer name, invoice ID, customer ID, due amount, etc.
Expense management is the process of reporting, submitting, approving and reimbursing employee-initiated business expenses except salary. Tally doesn’t provide an integrated employee expense management system whereas Gridlex Sky offers an integrated employee expense tracking where users can track their individual employee wise expenses like their food expenses, travel expenses, etc.
As per the MCA notification, organizations should be using an accounting software that has an Audit Trail feature (edit log facilities), i.e. every time a transaction is updated, the entire version history and log has to be maintained for audit trail purposes. Gridlex Sky Audit Trail helps organizations to instantly track the date, time, and owner of the transactions. It also records all the modifications and alterations made to the transactions.
With Gridlex Sky, you can restrict users according to their roles and put up restrictions based on security and permission to certain entities.
Gridlex Sky has user approval hierarchies that manage users approval with respect to the transactions. You can set up multiple steps and logic to arrange hierarchies.
Gridlex Sky allows integration of Expenses, CRM and Payroll management software which streamlines all your administrative data and processes seamlessly. Organizations can manage their complete accounting, employee management and customer relationships from one software.
When a user enters any transaction, like sales, purchases, or expenses, Gridlex Sky will automatically update the journal entry. Users do not have to pass the journal entry every time they enter a transaction. In an accounting system like Tally, the users have to manually enter every journal entry in order to track their transaction. This is very time consuming and complex as well. Apart from that, this system requires a great knowledge of debit or credit and how they work together. Therefore, Gridlex Sky offers an easier platform where journal entries are automatically passed instead of having to manually enter them. In addition, this will be useful for users who don't have any accounting knowledge and want an easy way to manage their accounts.