Tally - Company Creation
Tally - Company Creation
Company Creation is very easy task in Tally.
Here I will try to explain all the points given in above image.
Name & Mailing Name: The name entered here will get displayed when we Select Company. In above given image we have given Name - Manik Chand & Mailing Name as Manik Chand & Sons. When we will select company only Manik Chand will get displayed.
But when we will Print Bill than Manik Chand & Sons will appear as given in image below.
Address, Country, State, Pincode: Here we provide Address, Country, State, Pincode details of the company which we are creating. All appears at the time of printing. These are not necessary to be entered except for State & Country when you are simply using Tally to learn.
Phone No,, Mobile No., Fax No., E-mail & Website: These are also entered accordingly, but are not required while learning.
Financial Year begins from: A financial year is a period of 1 year, which in India starts from 1st of April and ends on 31st March of coming year. Here if we are feeding data for Financial year 2020-2021 than we will enter date 1-4-2020. But if we are entering data of 2019-2020, than date would be 1-4-2019.
Here one should also know the Assessment Year. Assessment Year is the coming year of the financial year. If Financial Year is 2019-2020, than assessment year will be 2020-2021.
Books Beginning from: It is not necessary that we start our business on exactly 1st of April the day when Financial year begins. Here we have to enter the date on which our business has started in this financial year. If business was already running than the date will be same as Financial Year beginning from.
Use Security Control: This is used to give password to protect your company from others. This will not let you open company unless the password set is entered.
A warning appears when you set password.
So if you are using Tally for simply learning don't enter a password.
Use Tally Audit Features? If you press Yes than only it will allow Tally Audit Features.
Disallow opening in Educational Mode? If press yes you won't be able to open your company in Educational Mode. So for learners if they are entering password here no should be given. It's better to not use Security Control while learning.
Base Currency Symbol: It is set according that in which currency you deal. If you are in India you will give symbol of Indian Currency. But if you are in India and you sell international products your symbol could be set to dollars, pounds, etc.
Formal Name: Here name of the currency symbol is to be given.
Suffix symbol to amount: Here we give no as we want symbol to appear before the amount. In case of Yes amount will appear as 500.00 Rs.
Add space between amount and symbol: It allows to put space between currency symbol and amount.
Show amount in millions: When no amount will appear as 1,25,000.00 in case of yes amount will appear as 125,000.00
Number of decimal places: It is normally set to 2
Word representing amount after decimal: It is set to paise or whatever we want to write.
No. of decimal places for amount in word: It is also set to 2
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