HomeCompany

How to create company in tally ERP9

Like Tweet Pin it Share Share Email
To start accounting with tally   the first and foremost thing you should know is , how to create company in tally ERP9 .For users operating multiple business can create several companies in Tally erp 9 software at single cost. Nowadays Tally erp 9 has outgrown from the concept just an accounting software. it helps you for better statutory compliance by updating statutory files available at tally solution website.You can operate tally remotely using tally.net features, process payroll and many more features are updating regularly by tally solutions.

Quick Guide to create company

  1. Open Tally Software by double clicking on the Tally.ERP 9 icon.
  2. If you are opening Tally ERP 9,First time after installation, you will be landed to a menu called company info menu. ( If you are in Gateway of Tally Press Alt+F3 to get that menu).
  3. Select Create Company option in the menu and press enter key.
  4. The screen displayed in-front of you is company creation screen.
  5. Type the name of the company ,address,Financial year  begins and all other details asked by the creation screen.
  6. Press Enter Key, Finally the program will ask you the confirmation to Save ,Yes or No.
  7. To save and create company do Press Enter Key, Press Y Key or click on Yes.The program will create a company and you will be entered into it.

How to create company in Tally ERP9? an elaborate tutorial

Lets start from the very beginning.

StepI
Double click on tally icon from your desktop.
Tally ERP9 Icon
If you are using Tally first time after installation,will have a screen like below.Inside company info menu on the right side of the screen like below.
Company info Screen
Step II
You are in company info menu.Now,How to create company in Tally erp9?. To do that Select Create company from the menu and Hit Enter Key.
Create Company Menu
Company Creation screen will be displayed.
Company Creation Screen Un filled

In this company creation screen, you should enter all the details of the company. Let us explain each section seperatly.
Directory:-  Directory means the data storage location , This is the place where tally store all data you entered in tally ERP9. By default the data storage will be inside the installation folder.You can change it at your desired location by typing it manually. For example D:/Tally data
Here are a couple of hand-picked articles to help you to learn more about data management in Tally ERP9.
Name: Type the name of the company in this field , for Example. ABC LTD
Address: This is the place where we can enter the address of the company.
Country :  Select the country from the list in which your business exist.
State : Select the state in which you  want to comply statute.
Pincode: Pincode of the location where your company office exists.
Telephone: Enter telephone number
Mobile No: Enter mobile number
Fax No : Fax No if exists.
Email: Enter your official communication mail id
Website: Enter website address if exists.

Book and financial Year Details.

Financial year from: Type financial year in which you want create a company. suppose you may be starting company on September 01 2016, You should enter the financial year from as 01.04.2016 .
Book beginning from: Most of the company have a book beginning date same as financial year starting date.But may differ for companies
  • Which are starting in the middle of  the financial year.
  • Companies which are migrating from Manual Accounting to Tally ERP9 some where in the middle of the financial year.

Security Control In Tally ERP9 at company creation screen.

Tally vault password: This is for  security purpose, By enabling this,Tally ERP9 Convert tally data in to encrypted format. Encryption means convert data from recognised format to unrecognised format.
For example : Your password is  –  tally123@  system will encrypt this password something like @54gh$%hf4&*$$$#. The benefit is that, It is very difficult to read the data even if our data is stolen.
By entering Tally Vault password you can prevent unauthorized access of company data.Tally Vault password and password strenght indicator
Now in Latest Tally ERP9,There is a password strength indicator, which will help you to  set a strong password. Red colour indicate a weaker password where as peach orange colour : fair, Yellow is good and Green colour indicates a strong password.
Keep the password in writing in a safe place to prevent future password lost . You will have to enter this password each time you open company.
Be careful , forgetting your password , you will not be able to use tally data.
Use Security control: By enabling  this you will get a complete control over your data, You can assign users for specific purposes, for example
  • You can assign data entry operators who can access only voucher entry screens.
  • You can assign billing clerks who can access only Sales invoice voucher
  • You can assign Financial managers who can access financial data’s and reports as the administrator control his access.

In this section you will be asked administrator name and password. Tally will give you a warning message’Forgetting your password will render your data inaccessible!!’,before moving onto next option see below image.

To know more about security control features in Tally ERP9, read this article.

Use security control with password warning

Use Tally Audit Features: By enabling this option, the administrator will have the privilege of  an auditor, He can track the changes made by users.

Disallow opening in Educational Mode: You cannot open the company if the program is in educational mode.as we all know Tally is freely available for educational purposes,in which you can enter transactions only in first and last date of every month.

Base currency information in Company creation screen.

This is the currency information Screen,Almost all field are auto filled and can make changes if required.The following fields are available in this section.

Base Currency Symbol:  This the currency symbol of the country you have selected.No need to change it if you are using the same currency for accounting.

Formal Name: This is the formal name of the currency you are using.

Is symbol Suffixed to amounts: asking whether currency symbol is required prior to amount like $45

Add space between Amount and symbol: This is like $ 45, a space in between currency symbol and amount.

Show Amount in millions:  if you set this option Yes ,Tally will display  amount in millions ,That is in Balance sheet or other report, Amount for example 10000000 will be shown as  10. one million is equals 1000000.

Number of decimal place: Usually 2 decimal places are using, for using Paisa in Indian currency we use 2 decimal place like   Rs 99.99 ,Ninety nine rupees ninety nine Paisa.

Word used to print decimal portion of amount:  This is used in printing , in Indian currency decimal portion is said to be Paisa. Set it as per your formal name of decimal value  in your currency. .For USD it is cents.Hundred cents make one dollar.

Decimal place for printing amount in words: If you set this option 1 in Indian currency, When printing 75 Paisa. prints seventy Paisa. if you set 2 then it will print second fraction like seventy five Paisa.

Company creation screen filled all the data

 

Step3
Accept the screen. If you have entered all details,tally vault password will be asked.Enter Tally Vault Password here.

tally vault password screen

You will be asked user name password you have entered in security control. enter that as well.

User name and password on creating company

Tally ERP9 will create a company and direct you to the Menu Gateway of Tally Where you can create masters and enter transactions.
Know more about masters and voucher entry here.
Gateway of Tally

On the left side you can see the current period, current date ,Name of the company ,Name of last Entry etc. Just under Name of the company you can see the name of newly created company in boldface. This means that listed company is loaded.
On the right hand side of the screen, there is menus where you can create company masters and enter transactions.
We have created a video tutorials on How to create company in Tally ERP9. Check it out.

Comments (6)

Leave a Reply

Your email address will not be published. Required fields are marked *

shares
error: Content is protected !!