SHORT TALLY ERP 9.0 COMPANY CREATION OPTION EXPLAIN

• To Create a new company.

                                                        -Create Company.

• To Close the company.

                                                        -Shut Company.

• To Open the company.

                                                       -Select Company.

• To Change any information in the company creation.

                                                                                               -Alter Company. 

• To Delete the company.

                                                      -Alter Company.

                                                      -Delete Company.

• To Change the current period of the company.

                                                                                                -Gate way of Tally.

                                                                                                -Alt+F2.

• To Obtain gate way of Tally from company information.

                                                                                                              -Alt+F3.

• If we want to divide the company which is of 12 Months or 1 Year into 6

            Months or Half Year then select "Split Company Data".

                                                                                                   

                                                                                                    Split

                            

                                                                                                     Yes.

• If we want to give the security code or password then we have to say 

            'yes' for "Use security control Option" in a company creation and 

             

              give user name and password. 

• If want to hide the name of the company then give word.

• Shifting Balance Sheet from this year to next year.

                   After completing this year Details Press Alt+F2 and Change date. 

 

• Ex: Last year 1-4-2011 to 31-03-2012 After entering  

                                         transaction.       

Now Press Alt+F2.

 

 Gate way of Tally

↓

 Display

↓

Accounts Books

↓

Ledger.

       Last year Balances will be shifted to the year.  Last year Balances will 

take as opening Balances for this year.

Tally ERP 9.0 Screen

       Tally Screen Divided into Four Parts :
                                             
                      1.      Product Info. 

                      2.      Button Bar.

                      3.     Calculator.
                      4.   Work Area.

1. Product Info:

           
     This is the top part of the screen.  In this part user can see the information  
     about software.   That is Name, Vision software, Company Name, System date 
     & Time etc.      


2. Button Bar:

    Buttons appearing in the buttons bar provide quick access to the different
     options.  This is at the right hand side of the screen.  In this different function
     Keys are presented in different names. 

3.Calculator:                       

     The bottom part of the Tally Screen is Calculator part in this part the user
     can do all types of arithmetic Calculator user can use "Ctrl + N" to switch in
     to application area Press "Ctrl + M". 

4. Work Area:

    The middle part of the screen is work area of Tally.  This part further can
     divided in to 2 sections.  The right hand side contains different menus which 
     we can use in Tally.

                                           Eg:

              Accounts Info, Company Info, Inventory Info, 
        Balance Sheet, Profit & Loss Accounts.

                                              
       The left hand side of the work area of Tally displays information about
     Company's  i.e.  Current  period, Current  date, Name of  the Company and
     last date of Voucher entry in opened  Company.

Accounting Terms

1.      Capital Account.
2.      Drawing Account.
3.      Secured Loans.
4.      Unsecured Loans.
5.      Provisions.
6.      Duties & Taxes.
7.      Sundry Creditors.
8.      Sundry Debtors.
9.      Bank Account.
10.  Loans and Advances.
11.  Current Liabilities.
12.  Deposits.
13.  Current Assets.
14.  Fixed Assets.

1. Capital Account:

                  The amount invest by the owner to start the business is called Capital 
            Account.

Ex:

                                                                           1.  Praveen Started business by cash

                                                Rs. 10,000/-.

                           Ledger Account:

     Name: Praveen Capital A/c.

Under: Capital A/c.         

       2.  Drawing Account:

                 The amount withdraw by the owner from business for his personal use is
             called drawing account.

                                                          

                          Ledger Account:

Name: Drawing A/c.

                                                   Under: Capital A/c.   
      3. Secured Loans:

                The Loans which we have taken for our business use from the banks 
            through secured is called Secured Loans.

                         Ledger Account:

                Name: Andhra Bank Loan A/c.

                                                   Under: Secured Loan A/c.    

     4. Un-Secured Loans:

               The loans which we are taken without security is called Un-Secured Loans.

Ex:

                                                                  1.  Taken loan from Krishna 

                                                   Rs. 50,000/-.

                                               

                           Ledger Account:

     Name: Krishna Loan A/c.

                                                  Under: Un-Secured Loans A/c.  

     5. Provisions:

                The owners life insurance policy and yearly Income Tax etc. are created
          as Provisions group. 

Ex:

                                                            1.  LIC Paid Rs. 10,000/-.

                                               

                          Ledger Account:

 Name: LIC A/c.

                                                        Under: Provisions A/c. 


     6. Duties & Taxes:

                 All the taxes A/c. are created under this account.

Ex:

                                                                 1.  General Sales tax paid 

                                                                 Rs. 12,000/-.

                                              

                         Ledger Account:

                      Name: General Sales Tax A/c.

                                                      Under: Duties & Taxes A/c. 

     7. Sundry Creditors:

                Sundry Creditors is the person to whom the business gives the money. 

Ex:

                                                                           1.  Purchased goods from Swathi 

                                                                          on credit Rs. 20,00,000/-.

                        Ledger Account:

     Name: Swathi A/c.

                                                       Under: Sundry Creditor A/c.

     8. Sundry Debtors:


                Sundry Debtors is the person who gives money to the business.

Ex:

                                                                           1.  Sold goods to Naveen on credit 

                                                 Rs. 50,000/-.

                      Ledger Account:

     Name: Naveen A/c.

                                                      Under: Sundry Debitor A/c.

     
      9. Current Liabilities:



                All the outstanding expenses i.e. to paid and bills payable are treated in
             this account. 

Ex:

                                                                  1.  Outstanding salaries paid 

                                                Rs. 10,000/-.

                     Ledger Account:

         Name: Outstanding Salary A/c.

                                               Under: Capital A/c. 


    10. Bank Account:                   
                  When we deposit the cash into Bank we create the name of the A/c. 
             Under this group.

Ex:

                                                                           1.  Cash deposited into Andhra Bank

                                                Rs. 20,000/-.

                    Ledger Account:

  Name: Andhra Bank A/c.

                                                Under: Bank A/c.

    11. Loans & Advances Account:
                   
                  When we give the loans and any advances to other persons from the
            business we create under this group.

Ex:

                                                      1.  Given loan to Sandeep

                                                Rs. 50,000/-.

                   Ledger Account:

     Name: Sandeep Loan A/c.

                                                 Under: Loan & Advances A/c.

    12. Deposit:
                   
                  When we deposit the cash into Bank or firm as fixed deposit we create
             under this group.

Ex:

                                                                           1.  Cash deposited into Saraswathi

                                                                    bank as fixed deposit

                                                      Rs. 1,00,000/-.

                   Ledger Account:

     Name: Saraswathi Bank A/c.

                                                Under: Deposit A/c.

    13. Current Assets:
                   
                  All the prepaid i.e. already paid and any bills received etc., are treated
             under this Assets.

Ex:

                                                           1.  Prepaid Insurance Paid

                                                Rs. 2,000/-.

                   Ledger Account:

     Name: Prepaid Insurance A/c.

                                              Under: Current Assets A/c.

    14. Fixed Assets :
                   
                  Assets are the items which we purchase are sale the item for our 
            business use only those items are treated as assets.

Ex:

                                                    1.  Purchase furniture 

                                                Rs. 15,000/-.

                   Ledger Account:

                                             Name: Furniture A/c.

                                             Under: Fixed Assets A/c.

Tally Company Creation

To create a company select "Create"  "Option From"  "Company info menu"  that brings company  creation screen or for  creating a company user can use a short cut method from "Gate way of Tally" hold down the "Alt" button and Press "F3" Function key.  A screen will be displayed there we have to select "Create Company" option or simply Press "C" button.  A company creation screen will appear. 

 

1.  Name:

                

                Enter Name for the company here.  The Name we enter here would 

       appear in the list of companies this is compulsory column to be filled.  

2. Mailing Name:

                

               By default the name entered in the name of  is carried as in most cases 

      the Mailing Name would be the same as company name.

3.  Address:

                

                Enter the Address of Company for correspondence.

4.  E - Mail Address:

               This is new filed in Tally 6.3, 7.2, 9.0, 10.2 enter.

5.  Income Tax No.:

                

                Here This is optional entry for the Company.  It is Compulsory to enter 

      Income Tax No. (Pan)

6.  Local Sales Tax No.:

               Enter "APGST" no. of the Company.

7.  Enter States Sales Tax No.:

                

              Enter Central Sales Tax No. of the Company.

8.  Currency Symbol:

              Enter the Currency Symbol in which  books of accounts for the company 

       is to be maintained in Country.

9.  Maintain:

              Tally provides 3 types of accounts to be maintained in 5.4, but 7.2 in Tally

        Maintain 2 only. 

10. Financial Year From:

              Enter beginning date of the financial year our company follows "APril to

        March" as the financial year. 

01 - 04 - 2011

To

31 - 03 - 2012.

 11. Books Begging From:

              Enter the date from which Yours Books actually started generally financial 

          year from and books beginning from would be same.

12. Tally Password:

             This feature  has been added in Tally version 6.3 password is protection to

         the company information.

13. Use Tally Audit Features:

             Select "Yes" in this field to maintain audit reports of other wise select "No".

14. Base Currency Symbol:

             The Currency Symbol entered in the top Section is displayed here for in-

         formation which is tarted has a base currency by Tally.

15. Formal Name:

             Enter the complete name for the Currency Symbol.

Eg:

                                                                    Rs.  →   Ruppes

16. No. of Decimal Places:

           

             Enter the name of decimal places for the currency.

17. Amounts in Millions:

             To get large amount formatted in millions respond "Yes" respond "No" will

         formal in lakhs.

18. Is Symbol Suffixed to Amounts:

             In many currency's first symbol appears than amount.

19. Put A Space between Amount & Symbol:

            Select "Yes" in this field to give a space between currency symbol and amount.

            Alter completion of entering information Press "Enter" then conformation 

       message box will be displayed i.e.

Yes/No

            Press "Yes" button to save the company information.