The next undeniable step to take after downloading and installing Tally ERP9 is company creation. The company is where you store all your business’s financial records in Tally ERP 9, so it’s the first thing you need to work on in the program.
In this tutorial, I want to show you how to launch your copy of Tally.ERP 9. Then you’ll learn how to create a company in Tally ERP 9. You’ll also learn about how to select or load a company, and modify basic company information. Finally, you’ll learn how to delete company in Tally ERP 9.
Table of Contents
On starting Tally ERP 9
There are several ways to open Tally ERP 9 software. The common option is to Double-click the desktop shortcut that has been created during installation. Or right-click on the icon and click Open to launch.
To learn the other options on how to open Tally ERP 9, read this guide on the Introduction to Tally.
The first time you open Tally.ERP 9, the screen provides some general information concerning creating a new company.
Below picture is what you’ll see when you first start Tally.
Tally called this screen the Gateway of Tally and it has two sections.
The left section provides brief information about the currently loaded companies if any. Below is how it looks like:
The right section provides a menu called Company Info. that gives you the options to perform functions like Select Company, Login as a Remote user, Create Company, Backup and Restore.
The Company Info. Menu Items
Below screenshot is the menu in action:
Select Company: is used to select an existing company on which you want to work.
Login as Remote User: is used to access company files remotely over the internet. This option is for advanced users.
Create Company: is used to create a new company.
Backup: is used to make a backup of your company. You can backup your data either on the local hard disk or any external device.
Restore: is also used to reimport a company data which has been backed up.
Quit: is used to close the entire Programme.
The fashion in which Tally.ERP 9 is designed gives you the power to work faster using the keyboard alone.
See the screenshot below:
Just take a look at the Company Info. menu above and you’ll see that there are bold letters in each menu item. Clicking or navigating to that item will even change that bold letter color from black to red.
These letters are all shortcut letters that can be used in place of using the mouse. To select an option, just press the bolded letter in that option and tally will be more than glad to open it.
Even though in this menu all the shortcut letters begin the word, this is not always the case. Sometimes you’ll see them in between words or at the beginning of the second word. Just take note!
Company creation in Tally ERP 9
In the company information menu, select Create Company. Either double-click on that option or use the shortcut letter which is C to select the Create Company option.
When you select the create company option, Tally will launch a setup where you’ll provide some important bits of General information about your company or business.
The following screen is what will take over your screen for the company creation.
Company Creation Details
This company creation page is asking for company details. At this point take your time and provide all the details as follows:
|Directory||This is the folder location of your company data. This means that it is a place where all your new company files will be stored. By default, Tally ERP 9 uses this path as directory: C:\Users\Public\Tally.ERP9\Data. However, you can change the path to your preference. It is better if you maintain the default path though.|
|Name||Type the name of your company or business in this area.
Example: Software Accountant Company Ltd.
Primary Mailing Details
|Mailing Name||Here, the company name will automatically serve as your mailing name. If you have a different mailing name as your company name, you can go ahead and change that.|
|Address||Here comes your address. This can be either your business address or your home address.
Example: P.O. Box 111
Type the first address line and press the enter key. Tally will move to the next line giving you the chance to enter a second address line. After completing the address, press Enter to accept and move on to the next.
|Country||Indicate the country of your business.
Example: United States of America
As you begin to type your country, tally suggests a list of countries that looks like what you are typing. You can use this list to select your desired country. If it happens that the country you are typing isn’t in the country list, tally displays an error message saying it’s a spelling Error! When that happens, use the Backspace key to delete what you’ve typed, and then retype a valid country name.
|Phone no.||Type your landline number in this area. You can decide to leave it blank.
|Mobile no.||Type your mobile phone number in this area.
|Fax no.||Here goes your fax number if any.
|Enter your email address in this area.
You can also use your Gmail or Yahoo mail address.
|Website||If your company maintain a website, this is the time to provide it.
|Books and Financial Year Details|
|Financial Year begins from||This is where you’ll indicate the financial year of your company or business. The date area is very important and therefore needs to be entered with care. You may want to begin your financial year on either the first day of a new month or the first day of the year.
|Books beginning from||This is the date you’ll start writing your books or the date you’ll start using the software to record transactions. Normally, this should be the same date as the beginning of the financial year.
NOTE: If you are using the educational version of Tally ERP 9, you won’t be able to change the day’s part of the date. You can only use the first and second day of the month to record your transactions. This shouldn’t be a problem so far as you are learning.
|Tally Vault Password (if any)||This is a security code without which no one can be able to see or open your company. I’ll advise you to leave this blank. Giving a Tally Vault password means no one can ever see your company in the list of companies let alone opening it. Not even yourself. And you don’t want to protect yourself from your own company. Do you?|
|Use security Control
||The default option is No. But you can change it to yes if you wish to secure your company so that only you can have access to it.
After typing yes, tally expands with more entries. Indicate your name and password you’ll use to get access to your company. Tally require you to enter the chosen password for the second time to ensure accuracy. When the password is entered, tally pops up a warning message that says that Forgetting your password will render your data inaccessible. Press any key to continue.
|Use Tally Audit features||This option is only available when the Security Control is set to yes. Set this option to No because it is meant for auditors.|
|Disallow opening in Educational Mode||Set this option to NO.|
|Base Currency Information|
|Base currency symbol||This the currency symbol of your selected country.
|Formal name||This indicates the name of the selected currency.
Tally is programmed in a way that it automatically inserts the currency details for any country you select when you were entering the company details. To experiment this, go back and change the country to a different country. Tally will automatically update the currency details in accordance with the selected country.
|Suffix symbol to amount||Setting this symbol to Yes will add the currency symbol to the amount figure. It is better to show just amount without the currency symbol while working in Tally. Don’t worry, the symbol will show when accounts or reports are printed.|
|Show amount in millions||Set this option to Yes if your selected country isn’t India. India uses Crores and not millions.For instance, 30,000,000 (thirty million) is written as 3,00,00,000 with commas at the thousand.|
|Add space between amount and symbol||Setting this area to Yes will add a small gap between your amount figures and your currency symbol. This option is useful when the suffix symbol to amount option is set to Yes. And it is completely optional.|
|Number of decimal places||This specifies the number of decimal places you want to use for your amount figures.|
|Word representing amount after decimal||Cent is used in the USA and Paise is used in India. Tally will specify this option for you automatically provided you selected a country in the company details.|
|Number of decimal places for amount in words||Specify the number of decimal places you wish for amount in words.|
Below picture is how your company creation page should look like after making all the necessary entries.
Confirm your Company creation details
Press enter to accept all the details about your company, its security and currency information.
A small rectangular box pops up at the bottom right corner of the screen asking for a confirmation whether you accept the details provided.
Once again, peruse the entire information thoroughly and make sure that every information you provided is satisfactory.
When that is done, and you are satisfied with everything, press Y or click on Yes to accept.
If you decided to secure your company with a username and password, as soon as you accept or make the confirmation, Tally prompts you the username and password of that company. Provide them to load the company you just created.
How to alter a company in tally
Maybe you’ve changed your mind on some particular option and wish you were still in the company creation process. Or maybe you made a wrong input when you were creating your company.
Tally ERP 9 gives you the option to be able to make changes to your company after it has been created. But always know that both creating and altering a company in Tally ERP 9 needs much thought and care.
To Alter your company, you need to first of all open it. Your company is probably open by now. But just to be sure, you can check whether your company is open or not.
In the Gateway of Tally, look under the list of companies at the left side of the screen. If your company is listed there, then your company is opened. See screenshot:
What if your company is not listed here?
Don’t you worry!
Just navigate to the button bar located at the right side of your screen and click on Select Company. Alternatively, press the F1 key on your keyboard. The list of companies appears. Double click on your company to open it.
See screenshot below:
Company Alteration Steps
Now follow below steps to make changes to your company.
- In the button Panel at the right side of your screen, select Company Info. to display the Company Info. menu. Alternatively, press Alt+F3 on your keyboard for the same effect.
- In the Company Info. menu, you should see Alter. Double click on it or use the shortcut key by just pressing the letter A on your keyboard.
- A dialog box appears requesting you to select the company you wish to Alter. Select that company and press enter.
- The company should open in an edit mode. Use the mouse to click the particular section you wish to edit.
- After editing, press Ctrl+A to save your changes.
- Then navigate back to the Gateway of Tally by pressing the Esc (Escape) key on your keyboard.
Below screenshot demonstrate how I Altered my company by changing the company Name from Software Accountant Company Ltd. to Software Company Ltd.
How to delete company in Tally ERP 9
Before you read further, let me let you know that deleting a company in Tally is irreversible once you go through with it, unless of course, you have a backup (which you should). The company will be deleted permanently from the system. So if you are deleting a company, think twice.
What is the reason you are deleting?
If it is because of a mistake you made during the company creation, you don’t need to delete the company. You can dive into the Alteration window and make the necessary changes as illustrated in the previous section.
Company Deletion Steps
As for deleting a company, it is very simple since you already know how to make company alteration. So to delete a company:
- From the Gateway of Tally window, press Alt+F3 to display the company information menu.
- Press the letter A to select Alter. Alternatively, just double-click Alter.
- A list of companies appears, select the company to be deleted and press enter.
- Whilst in the Alter mode, press Alt+D to delete the company. Tally will prompt for a confirmation. Press enter to confirm the deletion.
- Once Again, Tally will like you to confirm for the second time. Press Enter again.
The company will then be deleted permanently from your system.
And this brings us to the end of Creating, Altering and Deleting a company in Tally ERP 9.