Here’s a step-by-step guide to creating a new company in Tally Prime:
๐ Step 1: Open Tally Prime
Launch Tally Prime on your system.
On the Welcome Screen, you will see options like Create a New Company, Open an Existing Company, etc.
๐ข Step 2: Select "Create a New Company"
From the welcome screen, click on Create Company.
The Create Company screen will appear.
๐ง๐ป Step 3: Enter Company Details
Fill in the required fields:
Name of the Company: Enter the legal name of your company.
Address: Enter your company’s address. This will appear on reports and invoices.
Country: Select your country from the dropdown.
State: Select your state (for GST and other purposes).
Pin Code: Enter the postal code of your business location.
Phone Number: Enter the contact number.
Email ID: Optionally, you can provide the company’s email.
๐ Step 4: Set Financial Year
Financial Year Beginning From: Enter the starting date of your financial year (usually 1st April for India).
Books Beginning From: Enter the starting date for your accounting books.
๐ธ Step 5: Enable GST (If Applicable)
Enable GST: If your business is GST registered, enable this option.
Fill in your GSTIN and GST Type (e.g., Regular, Composition).
For GST settings, you can also choose the GST accounting method based on your business needs.
๐ผ Step 6: Set Base Currency
Currency Symbol: Select the currency symbol (for INR, it’s ₹).
Number of Decimal Places: For INR, it’s usually 2 decimals.
Thousands Separator: Choose a separator (comma or space).
๐ Step 7: Security & Backup Settings
Backup Location: Set the folder for backups if needed.
Password: If you want to secure your company’s data, set a password for access.
๐ Step 8: Configure Your Settings
Maintain Accounts Only: Choose this if you want to manage only accounting features.
Maintain Accounts and Inventory: Enable this option if you want to manage both accounting and inventory (ideal for trading businesses).
Enable Bill-wise Details: Enable this for businesses that deal with payments and receipts on a bill-by-bill basis (e.g., with vendors or customers).
๐ ️ Step 9: Save and Finish
After filling in all the information, click Save.
The new company will be created, and you’ll be directed to the company’s dashboard, where you can start managing transactions, reports, inventory, etc.