In this article we will discuss about creating a company in Tally ERP.
This is the one of the basic steps without which you cant move further in Tally. Not to forget to mentioned that it is also very easy to learn but there are many technical points hidden which you have to take care of while creating a company in tally ERP.
Are you Ready to master this step?
Creating a Company in Tally
Before starting there are some important details that needs to be filled up correctly.
Let us discuss all of that:
Directory – It is a place where all your data are stored. It would be preferable to store it in hard drives or external drives except Local drive C. Because that drive is prone to attack of virus.
1. Primary Mailing Details
Name – It is the name of the company (brand) which you want create.
Address – It can be your business address or your home address.
Country – Your country.
State – Your state and place where your business is located.
Contact Details –
- Phone no. – No need of explaining this. Just fill it up
- Mobile no. – As name suggests your mobile number.
- Fax no. – One can enter their FACSimile number if you have one but now a days everybody uses email.
- Email – Your professional email address.
- Website – If you have a website, you can provide your website url as well. 🙂
2. Books and Financial Year Details
As you all know that
Financial year starts from 1st April to 31st March of the preceding year. Current financial year 2019-20 i.e. from 1st April, 2019 to 31st March, 2020.
Books Creation – The date from which your business has started functioning. i.e from that date onward you will be entering your business transactions.
Here is an example for better understanding, if you started your business on 1st November 2019, your books will be beginning on 1st November 2019 (01-11-2019) but your financial year beginning date will be 1st April, 2019 (01-04-2019).
3. Security Control
Unique Password – It Should be Strong and must include uppercase, Lower case, Special Character and numbers. For Example – Abcd123!@#Xyz
NOTE: Remember the password correctly and save it in a very wise place otherwise you will lose your data.
You can also use an Additional Security option in which you will get more security options. It will be required if more than 1 person is using the same tally account on different devices.
Name of Administrator
Tally Audit Features – (This Option is only for CA)
We have completed all the major company creation details.
Let’s look at some of the minor details. They are also know as Base Currency Information.
4. Base Currency Information
- Indian Currency Symbol – ₹ / INR
- Suffix Symbol to amount – Its basically keeping Rupee symbol before the actual amount in Tally.
Actually its not necessary but it good to practice this when you print the accounts. I personally Prefer this.
- Space between Amount and Currency symbol – You don’t have to do anything it will automatically add space between Currency and Symbol.
NOTE: It is our own preference whether to put a space or not.
- Amount in Millions / Crores – You can choose the amount weather to be shown in Millions or Crores.
Its your Call …
I usually prefer to go for Crores and lakhs instead of Billions.
- Number of decimal places
- Amount in words – This is amount in words for decimal places.
And by this we are done filling all the necessary details to create our own brand new Company in tally.
NOW, Just press Enter 2 times.
After filling these details correctly your company will be created.
Have you thought that creating A Company in Tally would be this Easy?
Comment below if you have doubt related to creating “a Company in Tally”