In TallyPrime, a Company refers to the primary workspace or account file for a business or organization. All the accounting data, like vouchers, ledgers, inventory, GST, payroll, and reports, are recorded within a company.
Each business or organization is treated as a separate company in Tally. You can create and manage multiple companies within the same Tally software.
Prerequisites Before Creating a Company
Make sure you have the following details ready:
- Company Name
- Address
- State and Country
- Financial Year Start Date
- Books Beginning From Date
How to Create a New Company in TallyPrime
Step 1- Launch TallyPrime from your desktop or start menu and Click on “Create”
Step 2- Click on “Change Company”
Step 3- Create Company
Step 4- after click you will see like something as shown in image below
Fill in the Basic Company Details
A screen titled Company Creation will appear. Here, you’ll need to fill in the required details:
- Company Name
- Address:
- Contact Details:
- State:
- Country:
- PIN Code:
- Books Beginning From:
- Currency Details:
After filling company information – here you need to fill you company info
After entering all the required details, Save the Company, Press Ctrl + A or click “Accept” to save the company.
Featured Screen
Here you can setup as you need to record details – Press CTRL + A for Accept.
🎉 Done! You have successfully created a new company in Tally.
TallyPrime will confirm the creation of your new company, and you’ll be redirected to the Gateway of Tally with your newly created company loaded.
Creating a company is the first step in working with TallyPrime. Once the company is created, you can begin recording transactions, making ledgers, generating invoices, and managing inventory.
By following these steps, you can create a new company in TallyPrime and start managing your business finances efficiently.
Assignment 1: Create a Company
Task: Create a new company in Tally with the following details:
- Name: SmartTech Traders
- Address: 101, Main Street, Delhi
- State: Delhi
- Financial Year: 01-04-2024
- Books Begin From: 01-04-2024
Assignment 2: Create a Company
Task: Create a new company in Tally with the following details:
- Name: GreenLeaf Solutions
- Address: 205, Eco Tower, Mumbai
- State: Maharashtra
- Financial Year: 01-04-2024
- Books Begin From: 01-04-2024