Creating and Maintaining a Company

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

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

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

●      Financial year begins 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 begins 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 your company data. Encryption involves converting normally accessible Tally information into unrecognizable information, which can only be reconverted by authorised persons.

Use  Security Control

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

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. In educational mode, you can record transactions only one 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 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: 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.

●      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).

●      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.

●      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.

●      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.