Creating a New Company in Tally Prime

Tally Prime allows users to create multiple companies to manage their business records independently. Creating a new company is the first step when starting with Tally Prime. This guide provides a step-by-step process, along with a real example, to help you create a new company in Tally Prime.

Step 1: Open Tally Prime

Launch Tally Prime from your computer by double-clicking its icon. The Gateway of Tally will appear on the screen.

Example: Ravi, a small business owner, opens Tally Prime to set up a new company for his retail business.

Step 2: Access the Company Creation Menu

From the Gateway of Tally, select the "Create Company" option. Alternatively, press the shortcut key "Alt + F3" to access the Company menu and then choose "Create."

Example: Ravi clicks on "Create Company" to begin the setup process.

Step 3: Enter Company Details

Fill in the required details about the new company. These fields include:

  • Company Name: Enter the name of your business.
  • Address: Provide the company’s address.
  • Country and State: Select the appropriate options from the dropdown lists.
  • Financial Year: Specify the start date of the financial year.
  • Books Beginning From: Mention the date when accounting begins.
  • GST Details: Enter the GSTIN if your business is GST-registered.

Example: Ravi fills out the following details for his retail business:

  • Company Name: Ravi's Retail Store
  • Address: 123 Market Street, Delhi
  • Country: India
  • State: Delhi
  • Financial Year: 1st April 2024
  • Books Beginning From: 1st April 2024
  • GSTIN: 07ABCDE1234FZ1

Step 4: Save the Company Details

After entering all the details, press "Enter" to save the information. Tally Prime will create the new company and display its name on the Gateway of Tally.

Example: Ravi presses "Enter" after completing the form, and "Ravi's Retail Store" is successfully created in Tally Prime.

Step 5: Configure the Company

After creating the company, you can configure its features based on your business requirements. Access the "F11: Features" menu to enable options such as GST, payroll, and cost centers.

Example: Ravi enables GST and inventory management features for his retail store to streamline operations.

Step 6: Begin Using the Company

Once the company is created and configured, you can start recording transactions, managing inventory, and generating reports.

Example: Ravi begins recording sales transactions and updating stock levels for Ravi's Retail Store.

Conclusion

Creating a new company in Tally Prime is a simple process that sets the foundation for managing your business operations. By following these steps, you can set up a company tailored to your specific requirements and begin using Tally Prime effectively.




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