How to create Company in Tally

Dear Friends, you know very well that Tally is accounting cum inventory software which provide different accounts, inventory features which different taxation part. You can also prepare payslips, attendance sheet and many more in the payroll report. Tally is widely used in different countries due to its user friendly features. You know very well that inventory or stock is an important part of our business without any information of inventory you not able to calculate how much profit or loss you have on particular stock item. After reading this article any novice users easily create company in Tally.

So, today we talk about How to create any stock item in Tally software to maintain stock. Stock Item is goods that are used either for manufacture or trading purpose in your business. It is the main part of inventory and it has information like stock item name, qty, rate and amount of your inventory.

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Dear Friends, today we talk about the easiest way from which you can create any company in Tally. To create a new company in tally accounting software you have to take following steps given below:

How to create company in Tally:

Step 1: Select ‘Create Company’ option from Company Info window and you will be taken to the next screen ‘Company Creation’. Now fill the following details in the given fields:

Name: Type the name of the company. The maximum 51 characters long.

Mailing Name: This will used to print name in all statements of accounts that are used to give parties outside of company.

Address: Address of the company

Statutory compliance: India for Indian companies

State: Respective state where your company operates

PIN code: Type given Postal code

Telephone: Type company phone number

E-Mail: Email ID if available

Currency Symbol: Rs. For Indians

Maintain: In Tally 9 there are two options:
1. Account Only                 2. Accounts with Inventory

Financial Year From: Enter beginning date of the financial year for which you wish to keep accounts. Books are closed exactly 12 months after this date.

Books Beginning from: The date from which you actually wish to maintain your accounts in Tally. By default this is the date you specify for the Financial year Beginning. You may however give a different date to maintain books only from that date. This must be a date further to the Beginning of the financial year. In such case, you give the opening balances for accounts as at the new date and start your entries from that date.

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For example you start maintaining accounts on tally from 01-09-2009 give that date for Books Beginning from and give the closing Balance on that date for ledger opening balances.

Use Security Control: If want to protect data with security control give Yes and you will be required to enter Name of Administrator and password (15 characters max.)

Base Currency Symbol: Rs. For India

Formal Name: Indian Rupees for India

Number of Decimal Places: 2 for India

Is Symbol SUFFIXED to amounts? : If you give yes the currency symbol will be placed after the amount For example 100 Rs. instead of Rs. 100

Symbol for Decimal Portion: Type “paisa” for India

Show amounts in Millions: Amount is shown in millions. For example 1,000,000

Put a SPACE between Amount and Symbol: Give Yes if you want a space between amount and currency symbol.

Decimal Places for Printing Amounts in Words: Tally 9 will convert the numerical values automatically to words for printing in Invoices. Give the decimals required if you want paisa to be printed in words.

Step 2: After filling all necessary information press enter key or you can also press Ctrl+A for quick save all filled information in company creation window.

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I hope you like this create company in tally guide from which you will be able to easily create company in tally without any extra efforts. If feel any problem in this guide then please use comment box. Thanks to all.

2 response on “How to create Company in Tally

  1. kuldeep singh

    Dear Sir,

    suppose I start a business for security company and I want to maintain account in tally.
    How can I find opening balance in the beginning?
    I would like to know that I sell our company working to different places such as in Ludhiana, Coimbatore etc.
    First how can I maintain the account in tally.

    Reply
  2. Shujauddin Khan

    Dear Sir,

    suppose I start a business for manufacturing marking chalk and I want to maintain account in tally.
    How can I find opening balance in the beginning?
    I would like to know that I sell our product to different parties such as in Ludhiana, Coimbatore etc.
    First how can I maintain the account in tally.

    Reply

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