step by step company creation in tally

I have posted earlier screenshots showing how to create a company,however the screen shots were uploaded on rapid share  server.At that time, downloading files from Rapid Share was free service which now becomes  a paid service hence only a premium rapid share can download it.

The aim of this blog is to provide free services as far as it is possible hence I am re posting the same here with some updating and the screen shots are directly available within the article itself.

If you are beginner in tally, then first of all, you need to download latest version of tally.erp 9 educational copy which is available at Download Section of this site.

After downloading the software, start your tally and you will find the following screen. Note that if there isn’t any company created yet, then the Select option will be disabled automatically and you will be prompted to create a company or login as remote user.

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Now hit Create company button and you will find below screen

just start typing details of the company for which you wanted to prepare books of accounts in tally

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Type legal name of company and its mailing address. Remember you can put address at any time latter by selecting Alter company menu.however it is advisable to fill up as much details as available. There is no limitation in number of lines for address.

If you are creating a private. ltd company, then you need to type the registered office address here and not the factory or manufacturing unit address.

Note : You may alter name and address at any time latter on you wish so.

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After address, select your county. if your business is geographically located in India, then select India. Now suppose you are living in India and you wanted to write books of account of a company which is situated in Dubai, then select the country as Dubai.

After selecting country, select the state which is applicable to your business for vat purpose.

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If your office is situated 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.

The point to keep in mind is that first determine which state vat act is applicable to your company and accordingly you have to select that State otherwise, you will not be able to comply with Vat and CST act applicable to your state and also you will not be able to generate any true vat reports

Now you have to select method of accounts i.e. Accounts only or Accounts with inventory

The first option is for professional type of services, business such as doctors, lawyers, advocate etc  who do not need to keep records of inventory. if you are into trading or manufacturing activities, then you must select Accounts with Inventory.

If you select accounts only then you will not be able to keep record of inventory.

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Further, you have to select period of accounting year.

Accounting year is a period for which books of accounts are being managed.

Before you go further, you must be familiar with calendar year and financial year.

Calendar year is the year starting from 1st January of any year and ends on 31st December of the same year.

so you can assume that 2009 is a calendar year.

Financial year is a year which starts on 1st April of a calendar year and ends on 31st March of the subsequent calendar year.

here is 2009-10 is  a financial year.

In India normally Accounting year is the financial year starting from 1st April of a calendar year and ending on 31st March of next calendar year. As per Income Tax, every assesses must keep books of account as per Financial Year.

The maximum period of accounting may be for 18 months, however that is used only by Pvt and Ltd company only 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 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 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

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Now, accept the screen by pressing Ctrl +A

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the you will see this screen creating company and importing statutory master

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and its all done, you can now start work on your newly created company. In case you face any trouble, please do not hesitate to contact me at Gtalk mkr2005 or on yahoo at oz0021

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Related posts:

  1. Tally 9 :How to start writing books of Accounts
  2. Basic Groups in Tally
  3. How to create a Company in tally.erp 9?
  4. Reconcilation in tally
  5. Data split in tally|Think for due date while posting entries in tally
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