Creating and Maintaining a Company

Creating a company in Tally.ERP 9 is a simple, one-time activity. The company data created can be modified, exported, and other company data can be imported into your company at any given point of time.

On this page

Create a Company

Alter a Company

Delete a Company

Shut a Company

Create a Company

1. Go to Gateway of Tally > Alt+F3 > Create Company .

2. Directory : modify the data path, if required.

3. Enter the following details pertaining to your company:

Primary Mailing and Contact Details : The correspondence details of your company such as mailing name, address, state, and Pincode, telephone number, email ID, and so on can be entered here.

o Select the country for which you require the statutory features in the field Country .

o Base currency symbol is enabled in accordance with the country selected.

Books and Financial Year Details

o Financial year begins from: Tally.ERP 9 considers a financial year to be of twelve months. Any date can be entered here.

o Books beginning from: By default, the date provided in the Financial year begins from field is captured here. However, this can be changed if your book beginning date is different.

Security Control : Tally.ERP 9 provides various security options which can be enabled in this section:

o TallyVault password : An enhanced security system that allows encryption of your company data. Encryption involves converting normally accessible Tally information into unrecognizable information, which can only be reconverted by authorised persons.

o Use security control : Security control enables you to initiate a password-protected system to control access to your company data.

Note: The administrator password is case-sensitive, and if forgotten, it cannot be retrieved. Once Security Control is enabled in the Company Alteration screen, the fields against Password and Repeat password will display a single star.

o Use Tally Audit features : Tally Audit allows the administrator or an auditor profile user to track changes in accounting information.

o Disallow opening in educational mode : Set this option to Yes , if you do not want the company to be opened in the educational mode. In the educational mode, you can record transactions only on the first and last day of a month.

On accepting the company creation screen, if you have specified Tally Vault password, Tally.ERP 9 prompts you to enter the user name and password.

Base Currency Information : Base Currency Information varies based on the country selected. The various fields under this section include:

o Base currency symbol : The currency symbol of the respective country selected appears in this field.

o Formal name : The name of the currency specified.

o Suffix symbol to amount? : For countries which specify the symbol after the amount (value) – this option can be enabled. For example , Yen is specified after the amount (5000 Yen).

o Add space between amount and symbol? : Enable this option if you require space between amount and symbol.

o Show amount in millions? : This is useful for companies, which require reporting the financial statements in millions.

o Number of decimal places : This is set to 2, by default. However, it can be specified up to 4 places.

o Word representing amount after decimal : The name of the decimal portion of amount appears based on the country selected. For example , if India is selected as the country and Number of decimal places is entered, then paise appears by default.

o No. of decimal places for amount 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 field No. of decimal places for amount in words .

The Company Creation screen appears as shown:

4. Press Enter to create the company. The Gateway of Tally screen appears as shown below:

To maintain company data using Tally.Server 9

1. Click S: Server Data Loc .

Note: If the administrator has enabled security access, users need to provide authorised Tally.NET user ID and password to access the server list.

2. Select the required location from the List of Tally.Server Data Locations .

3. Press Enter to continue with company creation.

Click here to know about connectivity and compatibility in Tally.Server 9 environment.

Alter a Company

1. Go to Gateway of Tally > click F3 : Cmp Info . > Alter .

2. Press Enter .

3. Select the company from the List of Companies .

4. Press Enter to view the Company Alteration screen.

5. Make necessary changes in the required fields.

6. Press Enter to save.

Delete a Company

1. Select the company to be deleted.

2. Go to Gateway of Tally > F3 : Cmp Info .

3. Select Alter .

4. Press Enter .

5. Select the company to be deleted.

6. Press Alt+D to delete.

7. Click Yes .

8. Press Enter to delete the company.

Note: Deletion of a company is irreversible. The company will be permanently deleted from the system.

Shut a Company

1. Go to Gateway of Tally > F1: Shut Company .

2. Select company from the List of Primary Companies .

3. Press Enter to shut the company.