Create a company in Tally Prime

To create a company in Tally Prime, follow these steps:

Start Tally Prime and select the “Create a Company” option from the splash screen.

Enter the required details, such as the company name, currency, and financial year.

Choose the type of company you want to create. You can choose between a “Trading,” “Manufacturing,” or “Service” company.

Select the appropriate taxation method.

Enter the company address and other contact details.

Set up the company’s bank accounts and other ledger accounts.

Enter the opening balances for the ledger accounts.

Review the company information and click “Finish” to create the company.

It’s a good idea to thoroughly plan out your company’s structure before creating it in Tally Prime. This will help ensure that the company is set up correctly and efficiently.

Tally Prime has six main sections:

1. Gateway of Tally: This is the main screen where you can access all the features and functions of Tally Prime. It includes options for creating and managing companies, making transactions, and generating reports.
2. Accounting Vouchers: This section allows you to create and record financial transactions, such as invoices, receipts, and payments.
3. Inventory Vouchers: This section is used to manage your inventory and record transactions related to the buying and selling of goods.
4. Display: This section allows you to view and print reports and statements, such as balance sheets and profit and loss statements.
5. Configuration: This section is used to customize Tally Prime to suit your business needs. You can set up ledgers, create inventory masters, and configure tax rates, among other things.
6. Tools: This section includes a variety of tools and utilities, such as data import and export options, data backup and restore, and security settings.

These are the main sections of Tally Prime, but there are many other features and functions available within these sections.