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https://help.tallysolutions.com/docs/te9rel51/Tax_International/United_Kingdom/creating_a_company.htm

Creating a Company and Enabling VAT in Tally.ERP 9

Creating a Company

To create a company,

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

  1. Enter the basic information, i.e., Name, Mailing Name and Address of the company, for e.g., National Traders and other relevant details.

  2. Select UK from the List of Countries in the Statutory compliance for field.

  1. Specify the E-mail details.

  2. The Currency Symbol for UK will be displayed as £ by default.

  3. In the Maintain field, select Accounts Only or Accounts with Inventory as per the company requirements.

  4. In the Financial Year from and Books beginning from fields, the first day of the current financial year for e.g., 1-4-2009 will be displayed by default, which can be changed as per requirement.

  5. Set the option Disallow opening in Educational mode to either Yes or No as per requirement.

  6. Enter the TallyVault Password if required.

  7. Set Use Security Control field to Yes if required.

  8. Retain the details of the other default fields and set Show Amount in Millions to Yes if required

  1. Press Y or Enter to accept and save.

 

Enabling VAT in F11: Features

Go to Gateway of Tally > F11: Features > F3: Statutory & Taxation

  1. Set Prepare & Follow British Style VAT Returns to Yes

  1. Press Enter to view the Company VAT Returns screen.

  • In the Group Name under which 'EEC Debtors' are classified select Sundry Debtors

  • In the Group Name under which 'EEC Creditors' are classified select Sundry Creditors

  1. Under Tax Information, enter the VAT Regn. No.

  2. Press Y or Enter to accept and save.

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