How to run Tally accounting software on M1 macs?

Earlier I was using a software called Crossover, which allowed you to run windows applications on a mac. However since i upgraded to a new iMac running on M1, even the latest version of Crossover is not capable of getting Tally running.

I did try another software called Parellels. Worked fine on the trial version but takes up a lot of space and is expensive to buy once the trial is over.

Any other suggestions?