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.
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.
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.
Fill in the required details about the new company. These fields include:
Example: Ravi fills out the following details for his retail business:
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.
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.
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.
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.