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to download tally software free*?
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Click on download
Step: 3
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Step: 4 After
the download Software install in your PC
(*Education version for learning tally accounting)
Video:
How to Create Company in tally?
For GST Detail information Visit:
GST in Tally Theory
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Video:
How to Create Company in tally?
Creating
a Company involves providing basic
information about the company whose books of accounts are to be maintained in
Tally.
Go to Gateway of Tally > (Alt+F3)
Company Info. > Create Company
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The data path where you want the
company to be created is specified in the Directory field.
This field is skipped by default when you create the company
in the data path given in the Tally.INI
file. If you want to change it, use the backspace key and modify it to the path
required.
This is referred to as the TallyAnywhere concept – which is
the ability to create/load companies in separate directories. The Directory field is displayed while selecting
Select, Create, Backup, Restore and Rewrite options for a company. By default, the
cursor will skip the field, presuming that you wish to use the default data
directory for your work. You may press Backspace to give a new path and work from
there.
For example, the default Tally data directory could be C:\TALLY\DATA. You may now wish to create a new
company on C:\TALLY\PERSONAL, and some
other companies on C:\TALLY\BRANCHES. The
next time, the default directory displays C:\TALLY\DATA, and if you wish to work on the
data of your branches, press Backspace and enter C:\TALLY\BRANCHES for the directory name. This
displays the companies whose data is stored in that location in the List of Companies. You can even give the path
of a network server or any other storage device.
Enter the name of the company whose books are being opened.
If you are a professional accountant and are maintaining the books of your
clients, give the Client Company's name.
In addition to the Company Name, Tally provides the facility
to enter the Mailing Name field. It
displays the Company Name by default. You may change it as required, if the
mailing name is different from the Company Name. The mailing name and address
details are picked up for inclusion in any report that needs the company name
and address as heading. For example:Balance Sheets, Statement of Accounts, and
so on.
Select the Country from the List of Countries. The Statutory Features and Base Currency Symbol are enabled in accordance
with the country selected. For example, if the accounts belong to a company in
India, the base currency would be Indian Rupees. The Base Currency will appear
with respect to the Country selected.
Selecting India from the List of Countries brings up a State, Pin
Code and Telephone No. field.
You can select the appropriate state from the predefined
list.
Specify the PIN Code
(Postal Index Number) of the specified address.
Enter the Telephone
number.
Enter the E-mail
address that will be used to e-mail documents, reports and data from
Tally.
Currency symbol is the symbol of the base currency, that is,
the currency that will be used to maintain the books of account.
The symbol Rs. appears
by default for India/SAARC Companies and
the field is left blank for International
Companies.
Tally displays a drop down for the Type of Company with two options Accounts only and Accounts with Inventory
Select Accounts only
if you do not have any inventory transactions (suitable for professionals and
corporate offices).
However, at a later date (if required) you can choose to
alter the information as Accounts-with-Inventory. Select Accounts-with-Inventory, to maintain both
financial accounts and inventory.
In most countries, the books of accounts of a company are
maintained for a stipulated period like, 12 months, 15 months, and so on. This stipulated period
is referred to as the Financial Year.
The stipulated period of the financial year is 12 months in
most countries. Tally automatically considers 12 months from the date you give
here as the Financial Year.
For example, if you enter April 1, 2005 as the date, the
Financial Year will be from April to March ending with March 31, 2006. If you
enter October 1, 2005 as the Financial Year
From then the financial year will be from October 2005 to September 2006
ending with 30th of September every year.
Tally allows you to maintain data for multiple years by
changing the period (Alt+F2) at the Gateway of Tally. In addition, you can also
specify the date of actual establishment of the company (date of incorporation)
Tally presumes that you wish to maintain books from the
beginning of the financial year. Hence, Tally displays the date given in Financial Year From field automatically.
The date for Books beginning
from can be changed, in case of companies, which are incorporated in the
middle of the year. If your company is new, you can opt to start the books of
accounts from the date of actual establishment of the company (date of
incorporation) but close books according to the Financial Year as specified by
you. Tally provides the required flexibility in such a case by allowing you to
give the date when the books of accounts actually began. Tally will open books
from this date and close as on the last day of the Financial Year.
For example, if your company is established on August 19,
2005, the opening balances for all the accounts can be given as on August 19,
2005 even though the Financial Year given is April 1, 2005 (April to March
financial year). The company's books will begin on August 19, 2005 and close on
March 31, 2006, which ensures smooth transition to the next year.
This concept can be applied even when you are migrating to
Tally from any other system or from a manual accounting system on any day during
the Financial Year. Close books in that other system on the previous day and
start books on Tally from this day. You are allowed to give opening balances of
all Ledger accounts including Revenue accounts.
TallyVault is an enhanced security system, which allows for
encryption of the company data. Encryption involves converting normally
accessible Tally information into unrecognisable information, which can only be
reconverted by authorised persons.
Give a password here and repeat the same in the Repeat field. This basically results in the
creation of an encrypted company whose information is not accessible to users
other than the password holder.
Set this to Yes, if
you want to initiate a password-protected system to control access to Tally
data. Else, set this to No.
Base Currency Symbol
The currency symbol given earlier in the Company Creation screen is displayed here
automatically.
Tally uses this currency symbol in reports, wherever
necessary.
Formal Name
Formal Name is the full name
of the currency specified.
The Formal Name for the base currency is set to Indian Rupees for Indian Companies.
Number of decimal places
The number of decimal places for the base currency is set to
2 by default. However, you have the
option of specifying up to 4 decimal
places. Indian currency has 2 decimal
places whereas certain other countries require 3 decimal places and so
on.
Show Amounts in Millions
This is useful for companies, which require reporting the
financial statements in millions. This is possible only if Allow Multi-Currency is enabled in F11: Features.
Is Symbol Suffixed to Amounts
For countries, which specify the symbol after the amount
(value) – this facility is provided. For example, Yen is specified after the
amount (5000 Yen) unlike in India where the symbol is specified before the
amount (Rs.5000)
Put a space between Amounts and Symbol
This facility is provided to users who require a space
between the amount and the symbol. However, putting a space between the amount
and symbol could give an opportunity for misuse incase of cheque printing.
Hence, the flexibility to turn this option on and off as required is
provided.
Symbol for Decimal Portion
Enter the symbol for decimal portion.
Decimal Places for Printing Amounts in Words
You can specify the number
of decimal places for printing the amount in words. This number should be equal
to or lesser than the number specified in Number
of Decimal places field in company creation or currency master screen
which will appear in Invoice and Cheque printing screen.
For example, if the
currency is expressed upto 3 decimal places, the numeric to be printed in words
can be restricted to 2 decimal places
GST in Tally Theory
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