Account is a record in a general ledger that systematically and chronologically details the credit and debit information related to a particular business or individual. In many cases, an account is also used to represent a person (or a client). The various entries can include income, expense, equity, liability, etc.
Accounting: A systematic recording, analysis and presentation/communication of financial information of a business. It is the practice of measuring the economic performance of a business (through its economic activities) and communicating that information to stakeholders (managers, stock holders, regulators, etc.).
Tally Accounting is a software used for accounting purposes. It is provided by Tally Solutions and is a standard business accounting software. Tally ERP is a very robust ERP product and is a complete business management solution.
Tally is defined as record, count (as verb) or a record of debit and credit or an account.
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