Summary of Post
Quick Guide to create company
- Open Tally Software by double clicking on the Tally.ERP 9 icon.
- 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).
- Select Create Company option in the menu and press enter key.
- The screen displayed in-front of you is company creation screen.
- Type the name of the company, address,Financial year begins and all other details asked by the creation screen.
- Press Enter Key, Finally the program will ask you the confirmation to Save, Yes or No.
- 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.
In this company creation screen, you should enter all the details of the company. Let us explain each section seperatly.
Book and financial Year Details.
- 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.
- 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 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.
- How to create ledger in tally?
- How to create group in tally?
- How to create stock item in tally?
- How to create stock group in tally ERP9?
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.