How to Prepare Monthly MIS from Tally & BI Tools

February 26, 2025

Introduction

A Monthly MIS (Management Information System) report helps businesses track financial performance, sales, expenses, and overall growth. Tally Prime provides detailed MIS reports to monitor your business operations efficiently. In this article, you will learn how to Prepare Monthly MIS from Tally & BI Tools for accurate insights and faster decision-making. This guide covers step-by-step instructions to prepare Profit & Loss, Balance Sheet, Cash Flow, Sales, and Expense Reports in Tally, and how BI tools like EasyReports can enhance your reporting.

Key Reports for Monthly MIS in Tally

• Profit & Loss (P&L) Statement: Analyze monthly revenue, expenses, and net profit.
• Balance Sheet: Understand the company’s financial position, assets, and liabilities.
• Cash Flow Statement: Track cash inflows and outflows for better liquidity management.
• Sales Report: Review total sales, top products, and revenue sources.
• Expense Report: Monitor business spending and identify cost-saving opportunities.

Step-by-Step Guide to Prepare Monthly MIS Reports in Tally

1. Profit & Loss Statement

This report helps analyze revenue, expenses, and net profit for the month.

Navigation:

• Open Tally Prime.
• Go to Gateway of Tally > Reports > Profit & Loss A/c.
• Press F2 to select the date range (e.g., last month).
• Review total income, expenses, and net profit.
• Press Alt + C to drill down into specific expense details.

2. Balance Sheet

Shows the company’s financial health, including assets and liabilities.

Navigation:

1. Open Tally Prime.
2. Go to Gateway of Tally > Reports > Balance Sheet.
3. Press F2 to set the monthly period.
4. Analyze assets versus liabilities.
5. Press F12 to customize the report as needed.

3. Cash Flow Statement

Tracks business cash movements (inflows and outflows).

Navigation:

1. Open Tally Prime.
2. Go to Gateway of Tally > Display More Reports > Cash Flow.
3. Press F2 and select the monthly period.
4. Analyze operating, investing, and financing cash flows.

4. Sales Report

Monitors total sales, top-selling products, and revenue sources.

Navigation:

1. Open Tally Prime.
2. Go to Gateway of Tally > Display More Reports > Account Books > Sales Register.
3. Select the date range using F2.
4. Use F12 to filter sales by region, product, or customer.

5. Expense Report

Identifies business expenses and cost-saving opportunities.

Navigation:

1. Open Tally Prime.
2. Go to Gateway of Tally > Profit & Loss A/c > Direct or Indirect Expenses.
3. Select an Expense Ledger (e.g., Rent, Salaries, Utilities).
4. Press F2 and choose the monthly period.

Why Use a BI Tool Like EasyReports for MIS Reports?

Why Use a BI Tool Like EasyReports for MIS Reports?

While Tally Prime provides standard reports, BI tools like EasyReports enhance reporting by offering:

• Pre-built MIS Reports: 99+ ready-to-use reports and dashboards.
• Integration with Tally Custom Fields: Advanced reports using UDFs.
• Industry Coverage: Trading, Manufacturing, Services, IT/ITES, Finance, Projects.
• Custom Reports: Create reports tailored to your business needs.

Example BI Reports:

• Sales Summary Dashboard – Visualize monthly sales performance.
• Comparative Financial Statement – Compare Balance Sheet across periods.
• Production BOM vs Actual Report – Track production efficiency and variance.

Tips to Optimize Monthly MIS Preparation

1. Always back up Tally data before generating reports.
2. Schedule recurring MIS reports using BI tools for automation.
3. Validate figures with P&L, Balance Sheet, and Cash Flow cross-checks.
4. Use EasyReports to drill down multiple dimensions (e.g., sales by region, expense by department).

Preparing Monthly MIS Reports in Tally Prime helps track financial performance, optimize operations, and support informed decision-making. By integrating BI tools like EasyReports, you can automate reports, add customizations, and gain deeper insights.

Start implementing these steps today to prepare Monthly MIS from Tally & BI Tools efficiently and make smarter business decisions. Visit our website for more www.easyreports.in

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Disclaimer: This blog is for educational purposes only. Tally is a product of Tally Solutions Pvt. Ltd. and we do not claim any affiliation.

People Also Ask (FAQ)

1. What is a Monthly MIS report in Tally?
A Monthly MIS report in Tally is a Management Information System report that helps businesses monitor financial performance, including Profit & Loss, Balance Sheet, Cash Flow, Sales, and Expenses. It provides a clear overview of business operations for decision-making.

2. Why should I use BI tools like EasyReports with Tally?
BI tools like EasyReports enhance Tally reports by providing pre-built dashboards, multi-dimensional analysis, custom report formats, and automation. This makes MIS reporting faster, more accurate, and easier to interpret for business growth.

3. How can I track cash flow in Tally?
You can track cash flow in Tally by going to Gateway of Tally > Display More Reports > Cash Flow, selecting the desired period, and analyzing operating, investing, and financing cash flows for better liquidity management.

4. Can I customize MIS reports in Tally and EasyReports?
Yes. Tally provides standard reports, while EasyReports allows creating custom reports, integrating with Tally UDFs, and generating multi-dimensional dashboards to fit specific business requirements.

5. Which reports are essential for monthly MIS in Tally?
Essential reports for monthly MIS include the Profit & Loss Statement, Balance Sheet, Cash Flow Statement, Sales Report, and Expense Report. Together, these reports provide a complete view of business performance.