How to Create Company in Tally ERP9 | Chapter-3

You can open Tally.ERP9 software by double-clicking on Tally.ERP9 icon. The first step is how to create a company, and without creating a company you will not move further to create masters and record business transactions, etc.

You can easily create a company in Tally.ERP9 by using the below path.

How to Create Company in Tally ERP9

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

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

How to Create Company in Tally ERP9

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

How to Create Company in Tally ERP9

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

Address: Enter the company address

Country: Select the country

State: Enter State like Telangana or Karnataka

Pin Code: Enter pin code

Telephone: Enter telephone number

Mobile No: Enter a mobile number

Fax No: Enter Fax number

Email: Enter your company official communication mail id

Website: Enter your company website address

The financial year begins from: Enter financial year begins from like, 01.04.2017

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 the books’ beginning date is from 01.07.2017.

Security Control

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

Use security control: Yes

How to Create Company in Tally ERP9

You have to remember your username and password.

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

Disallow opening in Education mode: You cannot open your company in Tally if this feature is enabled in educational mode. Everyone knows about Tally, it is free for educational purposes, and in this, you can able to enter or post any entry on the first and the last date of every month.

Base Currency symbol: ₹ Currency symbol of the country

Formal Name: INR is the formal name of the currency

Is Symbol Suffixed to Amounts: If required you can enable this option, the purpose of this option is whether a currency symbol is required prior to an 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 the amount in reports like balance sheet and other reports in the Millions example, Rs.1000000 is equal to 1 Million.

The number of decimal placesGenerally will use 2 decimals for paisa purpose in India like Rs.58.65.

The word representing the amount after the decimal: It is by default set as paisa in Tally and does not require any changes.

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

How to Create Company in Tally ERP9

Observe the above screenshot containing on the left side the 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 the company.

Alter Company Info       

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

Click on alter

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

How to Create Company in Tally ERP9

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

Date

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

How to Create Company in Tally ERP9

Period

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

How to Create Company in Tally ERP9

End Chapter of How to Create Company in Tally ERP9 and Next Chapter is List of Ledgers and Groups.

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