Creating a company in Tally

When we start accounting with Tally, The first step is to know how to create a company in Tally ERP9. If you are operating several businesses, you can create several companies in Tally.ERP 9 software at the same cost and also you can used the Tally Software at Free of cost for learning purpose.

Tally ERP.9 software has moved forward the concept of accounting software to manage statutory compliance by updating statutory files available on the Tally Solutions website. If someone updating regularly then he can access the tally remotely in the latest version of Tally ERP.9

Let Start Creating a company in Tally ERP.9

First Step, to creating a company in Tally

Download the software Tally and Install it in your computer and after the installation double-click the Tally icon from your desktop it will open the Tally Software. If you don’t have the tally software then you can download it from the official site of Tally, Just search in Google for the tally software download link

Second Step, to creating a company in Tally

When the tally software opens you will see a box like this.

If you want to purchase the license you can purchase it or you just want to learn the software then you can go to the work in educational mode and click on it

This box will be open on the right site

Now go to the create company screen using your Up and Down Arrow Keys and when you are there click on the enter button. In tally you have to use your keyboard only.

Third Step, to creating a company in Tally

Creating company Box will be open as given below in the image

To creating a company in tally you have to enter all the necessary details which have been asked to fill.

At first it shows Directory, It is the location of the Tally where all the data of the company will be store in your computer. By default it is already filled you have to do nothing in Directory options.

Name: - In this you have to type the name of you business or company. It is compulsory to fill this option because without company name you cannot create a company in Tally.

Primary mailing details,

In mailing name you have to type again the company name

Address in this you have to fill the whole address of the company.

Country, in country you have to select the company in which your company in operating

State, in this filed you have to select the state in which you company is located and also which is comply with the statutory law

Pin code, Type the pin code where your company exact location is

Contact details

Phone number, Enter the contact number of the company which you want to display on the invoice

 Mobile number, Enter the contact number of the managing person, so that any queries related to the invoice or delivery of the product can be complained and find out it solution.

Fax number, Enter the fax number which contains a confirmation statement, ledger etc. which can be sent and received. It is not compulsory if you have then you can filled it or leave it blank.

E-mails, type the company emails to which communication can be made and the product details can be sent

Website, if your company has a website then you can type the web address or leave it blank. It is also not compulsory.

Also read:- Alternation and deletion of a company in Tally

Books and financial year details

Financial year being form, in this you need to write the financial year of the company in which you want to create that company. For example if you are creating a company in tally on 26.10.20 then your financial year will be 1.04.2020

Books beginning from, in this also you need to write the financial year of the company in which you want to create that company. For example if you are creating a company in tally on 26.10.20 then your financial year will be 1.04.2020

Security control

Tally Vault password, This is given for security purposes. By enabling this field, it will convert your data to an encrypted format. Where Encrypting means converting the data from a recognized format to a non-recognized format.  You can prevent unauthorized access to company data by entering a tally vault password. In Tally ERP.9 there is automatic system which indicate you whether your password is strong or weak.  It shows Red for weak password, orange for average password and green for strong password.

Repeat password, again enter the password

Warning: - If you forget you password then you all data will be lost and it cannot be recovered

Use security control, enabling this feature will give you full control of the data; you can assign multiple users who can perform the particular work like sale and purchase, creating Billing and many more.

Basic currency information

Base currency symbol, this is filled automatically according to your country selection. No need to make any changes is this field. Example, for India it will be

Formal Name, in this you have to type the formal or short name of the currency like for India it will be INR

Suffix symbol to amount?, just select NO in this filed

Add space between amount and symbol?, If you want to add a space between your amount and currency symbol then you can select YES. For example if you want your amount look like this 10,000 or select NO for this ₹10,000

Show amount in millions?, If you want that your amount should show in millions then you can select YES otherwise NO

Number of Decimal Places, Just keep it 2 because almost in every country 2 number of decimal is used

Word representing amount after decimal, In India the currency decimal is called paisa, so you have to type paisa in that field. For any other country you can search in it on Google

Number of decimal places for amount in words, in this field also you have to type 2 because it represent the decimal currency.

To save the details and creating a company in Tally

 Once you filled all the details, it’s time to verify all the details if every details are correct then press enter and again enter to save all the details.

If you have create password then it will ask you to enter the user details and password, once you filled that now you can press the enter and save the details.

If you are a beginner and don’t know what is tally, why it is used for then you can read this article for the full knowledge of tally and also you want to the practical know of tally then you can subscribe our YouTubechannel for practical learning.