Steps to Getting started with Tally.ERP 9 (English). Let us learn how to create company in Tally.ERP 9. Creating a company in Tally.ERP 9 is a simple, one-time activity.
A company in Tally.ERP 9 is a central repository where you can maintain all financial records of your business and from where you can extract the required financial reports and statements.
To create company go to Gateway of Tally Create Company
1. Directory: The path of the location of Tally.ERP 9 data is displayed here. By default, the path provided while installing Tally.ERP 9 will be displayed here. You can press Back space and specify the location in which you want the data to be stored.
2. Name: Provide a name for the company. In this example, we are creating company named ABC Trading Company.
3. The name provided for the company in the name field is automatically displayed here. However you can change it as per requirements. The mailing name is picked up for inclusion in any report that needs the company name.
4. Fill the company address
5. Select the country in which the company is located. This will allow users to choose the statutory capabilities available for that country. In this example, the country selected is UAE.
6. Fill the relevant numbers in the phone no. and mobile no. fields
7. Provide the Fax number
8. Provide the email and website details.
1. Financial year begins from: This refers to the twelve month accounting period of the company. Fill the financial year begins as 1-1-2017
2. Books beginning from: The date provided in the aforesaid field will be automatically displayed here. However, if you have started with maintaining your books if accounts with Tally.ERP 9 mid-year, the required date can be set accordingly.
1. Tally vault password (if any): Once you enter a password here, you will need it to open your company each time. The name of a company that is locked using Tally Vault will be hidden with the asterisk symbol. You need to provide the Tally Vault password to open and access the company.
2. Use Security control: Setting this option to Yes will allow you to define the rights for each user who will access your company.
This feature is explained in forthcoming videos. For now we shall set this option to No.
Base currency information
1. Base currency symbol will be filled as per country selected.
2. Formal name: The currency’s formal name will be filled here. In this example, it is UAE, dirhams.
3. Suffix symbol to amount? For some countries, which specify the symbol after the amount – this facility is provided.
4. Add space between amount and symbol: This facility is provided to users who require a space between the amount and the symbol.
5. Show amount in millions: If the company financial statements need to have their values expressed in terms of millions, set this option to Yes.
6. Number of decimal places: By default, the number of decimal places for the base currency is set to 2.However you can have upto 4 decimal places.
7. Word representing amount after decimal: The symbol of amount expressed in decimals will be set by default.
8. No. of decimal places for amount in words: You can specify the number of decimal places for printing the amount in words.
Press enter to accept the save the details of the company. You have successfully created company in Tally.ERP 9.
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