How To Create Company in Tally Software

You can open Tally Software by double clicking on Tally icon. The first step is how to create a company and without creating a company you will not move further to create masters and recording of business transactions etc.

You can easily create a company in Tally by using the below path.

Path: Gateway of Tally –> ALT+F3 –> Click on Create Company

You have to go through the above path and fill the information related to your company like, address of company, contact details and other information.

Click on create company, once you click on create company then the below screen will appear.

Click on create company, once you click on create company then the below screen will appear.

Name: Enter company name in this field like, ABC Company

Address: Enter company address

Country: Select country

State: Enter State like, Telangana or Karnataka

Pin Code: Enter pin code

Telephone: Enter telephone number

Mobile No: Enter mobile number

Fax No: Enter Fax number

Email: Enter your company official communication mail id

Website: Enter your company website address

Financial year begins from: Enter financial year begins from like, 01.05.2021

Books beginning from: Most of the cases financial year begins date from and books beginning date from are same but when you have created a company in Tally.ERP9 on 01.07.2017 in this case financial year begins from 01.04.2017 and books beginning date from 01.07.2017.

Security Control

This is very useful option in Tally by activating this option you can avoid unauthorized access of company data.

Use security control: Yes

You have to remember username and password.

Use Tally Audit features: This feature is for Chartered Accountants to audit the company books of accounts directly.

Base Currency symbol: ₹ Currency symbol of the country

Formal Name: INR is formal name of the currency

Is Symbol Suffixed to Amounts: If required you can enable this option, the purpose of this option is whether currency symbol is required prior to amount like, ₹650

Add space between amount and symbol: Yes, this is like space between amount and currency symbol ₹ 650

Show Amount in Millions: If you enable this option then it will display amount in reports like, balance sheet and other reports in Millions example, Rs.1000000 is equal to 1 Million.

Number of decimal place: Generally will use 2 decimals for paisa purpose in India like, Rs.58.65.

No. of decimal places for amount in words: This is for decimal places for amount in words.

Observe the above screen shot contains on the left side current period, current date, name of the company and date of last entry.

If you select any company to record the transactions in Tally, the selected company name will appear under name of company.

Alter Company Info       

You can modify company info by using shortcut key ALT+F3 from the below screen shot.

Click on alter

Companies will alter or edit their information when they have changed company address or contact number or email and other any information.

In the above screen shot you can edit any information as you required like, company address or email or PIN code.

Date

Tally will allow us to post transaction in different dates, you can change the date by clicking on F2 during the voucher screen.

Period

by using ALT+F2 you can change the Financial Accounting period, for which period transactions you want to record.

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