Company creation in Tally is the first step to start working with Tally.erp 9.So, today we will go through company Creation in Tally.ERP 9
company creation in Tally | How to go ahead
Once the software is downloaded, start the Tally.erp 9, and the below screen will appear. It will prompt to create a company, if there is no company created or loaded and so, the Select option is disabled automatically. Now just read the full articles here for company creation in Tally.
Now hit Create company button and you will find below screen
company creation in Tally | First step to do?
Type the legal name of the company and its mailing address.
Note : You may alter name and address at any time latter on you wish so.
After the address, select your county.Then select Stat
If your office location is in Mumbai from where you have to prepare books of account,and your business unit is in Delhi,then you have to select your state as Delhi and not Maharashtra.
Now you have to select method of accounts i.e. Accounts only or Accounts with inventory
If you select accounts only then you will not be able to keep the record of inventory.
Further, you have to select period of the accounting year.
Accounting year is a period for which books of accounts are being managed.
The Calendar year is the year starting from 1st January of any year and ends on 31st December of the same year.
The Financial year is a year which starts on 1st April of a calendar year and ends on 31st March of the subsequent calendar year.
A company has to comply with the provisions of the companies act in case of newly formed company.
So any case the financial year from should be the 1st April of the calendar year for which you want to start books of the account regardless to the fact when the business was started.
The second selection is starting date of books of account. This is the date of starting your books of account. but be careful while selecting this date.
If you were maintaining your books of account on manual and from 1st April 2009, you have decided to write books in tally then your financial year as well, as books beginning will start from 1st April 2009.
for running the business you can not choose any other date then the 1st April of the calendar year.
so, books begin date must be 1st April of the financial year for all business except those which start during the middle of a financial year.
Let’s say your business starts on 1st July 2009, then the Financial year will be 1st April 2009 and books begin from will be 1st July 2009
company creation in Tally | The Final set up
Now, accept the screen by pressing Ctrl +A, to complete company creation in Tally
company creation in Tally is now about to complete!
Your first Company creation in Tally is completed.Congratulation. Now you are ready for voucher and journal entry in Tally