Question : Write the steps to create a new
company in Tally and also explain the all reliable fields in company creation
window.
Information about tally.erp 9
Answer: Every business has no. of financial
transactions, as a human being we could not remember all of them. To overcome
this problem we used to record all business transactions in books. As
technology is developing we are using computers in every area.
Tally is an application package which is used to record and analyze all
business transactions in computer. To work with this package we need Windows
operating System in our computer.
To record transactions in Tally, first we need to create Companies for whose
transactions to be entered. Suppose as a consultant if want to maintain number
of companies data, we need to create separate companies.
To create a company we have to follow the steps giving hereunder:
1.
By Double clicking the Tally Icon on
desktop, it opens the Tally screen.
2.
The gateway of Tally Screen divides
into four areas
Ø
Title area : Shows version No. Date,
Time etc.,
Ø
The main area : List of selected
Companies etc.,
Ø
Calculator Area : To done
mathematical calculations
Ø
Button bar : Displays Commands to be
used
3.
The names of the companies already
created will displays on the main area’s left part. In the right part of the
main area there is a menu called Company Info.
4.
Click on Create Company. It will
display a dialog box.
5.
We have to fill the required fields
6.
After entering all the information
it will display ‘Accept Yes or No?’ dialog box.
7.
Click on Yes Button to save all the
information and it will creates the company
The Following are the various details required to create a
company.
1.
Directory:
Company’s data will be saved in a directory, for this it is required to give
the path of the Data directory. Path is the location of the directory. By
default Tally creates its data directory at C:\Tally\data. We can the change
the default path by pressing backspace key and enter a new path. Internally
Tally Names its directories like 001, 002.
2.
Name:
Here we have to give the name of the company for whose books are to be opened.
For Eg. XYZ Company Ltd.,
3.
Mailing
Name and Address: Here we can enter the mailing
address of the company. It can be entered in multiple lines also.
4.
E-mail
Address: This is optional, if we want we can enter it.
5.
Local
Sales Tax Number: Here we have to enter the Sales tax number allotted to the
company by the state Govt.( if available)
6.
Inter
state Tax Number: Type the number if available which was allotted by Central
Govt..
7.
Income
tax Number: Type the number allotted by the Central Govt to the company
if it available.
8.
Currencey
Symbol: Type the base currency symbol like Rs. $ etc. In India it will
be Rs.
9.
Maintain:
We can maintain two types of Accounts
o Accounts Only: To maintain Accounts Transactions only
o Accounts-cum-Inventory:
To maintain the Inventory transaction as well as Accounts transactions.
10.
Financial
Year from: Type the Financial Year of the country for Eg: 2005-06
11.
Books
beginning from: Tally assumes that this period
will be the same as Financial Year , if we want we can change it. Suppose
company books begins from July 2006, then the date will be 01-07-2006.
12.
Tally
Valut Password: To avoid unauthorized persons to operate/enter and view our
company transactions we can maintain data in encrypted form(Unrecognizable
form). By typing the password authorized persons only can view and record/enter
the information. As administrator we have give the Password for it.
13.
Use
Security Control: We can define and maintain security control layers by
classifying the Supervisor rights and normal user rights. Type Yes to maintain
Security control , other wise Type No.
14.Basic Currency Info: In
this area we have to enter currency formal name, Decimal Points etc., information