Creating and Maintaining a Company

• The correspondence details of your company such as mailing name, address, country, state, and PIN code, telephone number, email ID, and so on can be entered here.

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

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

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

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

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

TallyVault Password

• An enhanced security system, which allows encryption of the company data. Encryption involves converting normally accessible Tally information into unrecognizable information, which can only be reconverted by authorised persons.

• Enter the password and repeat the same in the Repeat field. This results in the creation of an encrypted company whose information is not accessible to users other than the password holder.

Use  Security Control

Security control enables you to initiate a password-protected system to control access to Tally.ERP 9 data. On enabling this option the following fields appear:

Name of Administrator, Password, Repeat

Use Tally Audit Features

Tally Audit allows the administrator or an auditor profile user to track changes in accounting information. For more information refer Tally Audit Feature.

Disallow opening in educational mode

Set this option to Yes, if you do not want the company to be opened in educational mode. If the application is in education mode, you can record transactions only one the first and last days of a month.

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

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

• Base Currency Symbol: the currency symbol of the respective country selected appears in this field.

• Formal Name: is the name of the currency specified.

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

• Is symbol suffixed to amounts: 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).

• Show amount in millions: this is useful for companies, which require reporting the financial statements in millions.

• Add space between amount and symbol: enable this option if you require space between amount and symbol.

• Decimal places for printing 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 Number of decimal places field

• Word used to print decimal portion of amount: 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.