How to create company in tally
To start accounting with tally you need to know how to create company in tally .For users operating multiple business can create several companies in tally software at single cost. Nowadays tally has outgrown from the concept just an accounting software. it helps you for better statutory compliance by updating statutory files available at tally solution website, you can operate tally remotely using tally.net features, process payroll and many more features are updating regularly by tally team.
Here we are going to learn how to create a company in tally which is comes under Basic section of this tutorial website.Since tally launched the latest version ERP9, We are using tally ERP9 for our training
Start Creating Company
Double click on tally icon from your desktop you will have a company info menu on the right side of the screen like below
Select Create company by pressing down arrow key and press enter Company Creation screen will be displayed
This is the company creation screen where we can enter company details, Data storage etc. Let us explain each section seperatly.
Directory:- Directory means the data storage location , This is the place where tally store all datas you entered in tally. By default the data storage will be inside the installation folder, Data will be stored in D:/ if you installed tally in D drive. You can change it at your desired location by typing it manually.
Name: Type the name of the company in this field , for Example. ABC LTD
Address: This is the place where we can enter the address of the company.
Statutory compliance for : Select the country in which your business exist.
State : Select the state in which you want to comply statute
Pincode: Pincode of the location where your company office exists.
Telephone: Enter telephone number
Mobile No: Enter mobile number
Email: Enter your official communication mail id
Currency Symbol: Enter the currentcy symbol for example Rs for Indian Rupees ,USD for US doller etc.
Maintain: Here you can select how you maintain your company . Some companies are required to maintain stock items along with accounts, in such cases select ‘Accounts with inventry’ or else your requirement is only to keep accounts only select ‘Accounts only’
Finacial year from: Type financial year in which you want create a company. suppose you may be starting company on September 01 2010, You should enter the financial year from as 01.04.2010 .
Book beginig from: Most of the company have a book begining date same as above field but may differ for companies which are starting in the middle of the financial year. from above example your book beginig date is 01.09.2010
Tally vault password: This is for security purpose ,by entering password you can prevent un authorized access of company data. but keep the password in writing in a safe place to prevent future password lost . You will have to enter this password each time you open your company.Be careful , forgetting your password , you will not be able to use tally data
Use Security control: By enabling this you will get a complete control over your data, you can assign some people only for data entry, give more access to some other using this feature. We will have a detailed discussion about security cotrols later.
Base currency information
You can configure currency option under this field. you can see a company creation screen below.
Accept the screen. If you have entered a tally vault password you will be asked a password to create company in screen like below.
Enter tally vault password here and press enter you can see a screen importing statutory masters
Immediatly after completing statutory masters importing you will lead to a new screen Gateway of tally
On the left side you can see the current period, current date ,Name of the company ,Name of last Entry etc. Just under Name of the company you can see the name of newly created comapny in boldface. This means that listed company is loaded. Next time when you open tally this company will have loaded automatically.
On the right side you can see tally data entry voucher to enter datas.
For your easy learning we have created a video tutorial on create company in tally
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