Company creation advanced features in Tally
Data Folder is the folder (Directory) where Company Data entered are stored. At the time of installation of Tally.ERP 9, the default data folder name is specified.
- Default Data Folder : At the time of creation of Company, at Company creation screen, at Directory field, the default Data folder name is shown and the field is skipped where the Company data would be placed (the cursor comes to Name Field),
- Other Data Folder : To keep Company data in any other data folder, press <Shift Tab> or <Up Arrow> to move the cursor to Directory field and enter the name of the Data folder (e.g d:tallydata\).
After creation of Company, you cannot change the name of Data Folder in Company Profile.
The Term Company in Tally.ERP 9 means any Accounting Entity, for which a separate set of Accounting Records are maintained (referred as Tally Company). So, a Tally Company may be created for Personal Accounts, a business organization of any form (Proprietorship, Partnership, Company), an Association, Trust or any entity for which a separate set of accounts are maintained.
- Branches of same Legal Company : When separate set of Accounting Records of a Company (called Business Entity) are maintained for its various branches, warehouses, Sales / Purchase depots, collection centres etc, each of these separate Accounting entities will be called a Company (technically referred as Tally Company), even if they are legally same Company or Organisation. Separate Tally Companies will be created for each of such Accounting Entity.
- Financial Year of Same Company : A Company may create separate Tally Companies for each Financial Year
So, a legal Company may have several separate Tally Companies for each of its distinct Accounting Entities for which separate Accounting records are maintained in Tally.ERP 9. For each Tally Company, Tally creates a separate reserved space to store all Data for the respective Company (Called Tally Data Folder)
Separate Company Name : In such case, separate Companies are to be created in Tally.ERP 9. To identify the specific Company, add a suffix at the end of Company Name (you cannot create two companies with same name), at Company Name.
- ABC Company (HO)
- ABC Company (Patna) 16-17
and so on. However, you may use same Legal Name at Mailing Name of all the units of same legal Company
Mailing Name : At Mailing Name, the Company Name as entered at name is carried. Remove the extra identifier (if any), keeping only the legal name of the Company that should be printed in all external documents and reports
Company Info Alteration
After creation of Company, you may alter Company Info data at any time, as many times you need to.
Through Company Alteration, you may :
- Alter any data in Company Profile
- Fill up any data field left blank at the time of Company creation
At Gateway, Click F3:Comp Info button (or press Alt+F3 keys) to get Company Info Menu. Select Alter and select the Company to get Company Alteration Screen. Now Enter (at blank fields) / Alter the respective info as desired.
The additional Info at Company creation / Alteration are explained here.
Company Mailing Name
In Company creation / Alteration screen, you get the field Mailing Name just after the Name (referred as Company Legal Name here for distinction). Internally Tally recognizes the Company by its Name (Company Tally Name). In all Data entry, Display screens, Company Tally Name is shown.
But sometimes, there may be several Tally Companies of same Legal Company. For example, separate Tally Companies may be created for each Financial Year or for each Branch, Warehouse etc. In such case, the Company Legal Name (Mailing Name) remains same, while the Company Tally Name is different.
Company Tally Name entered at Name field, is carried at Mailing Name (Legal Name). You may change the carried Company name at Mailing Name field, when the Company Name is not the Legal Name (which you can print in external documents).
For example, INFO Consultants maintains separate set of accounts for HO & its Patna Branch in the head office. Then it will create 2 separate Companies, for HO & Patna Branch. It will create 2 Tally Companies and enter different name, to properly distinguish and identify the 2 sets of Tally Accounts, but Mailing Name (Legal Name) remain same
In Display, the Company Tally Name is shown, while in all printed / exported reported, the Company Legal Name (Mailing Name) is shown.
Mailing & Contact Details
Here you enter the Postal Address, contact details like e-mail address, Phone Numbers etc, as follows.
Address: Enter the postal address for the Company in multiple lines. The address lines will be printed accordingly. So, break the lines as you like to print them in Reports. If you like to print the e-mail address, phone number etc., then enter them also as part of Address (in Reports, Documents)
You may enter the following as part of address, or may enter them at the respective separate fields
- Country : At Country, select the Country from List. The default Base Currency particulars (at the bottom part of Company creation screen) is set according to the selected Country. Normally appears as default and you need not change it for India.
- State: Select State from the list (e.g. West Bengal). This is Important when you maintain Statutory System like VAT with Tally. Otherwise you may select Not Applicable and enter State as part of the Address.
- Pin Code: Enter the PIN Code of the specified Address. Alternatively, you may enter the PIN Code as part of Address.
- Telephone Number: Enter Telephone Number. Alternatively, you may enter the Telephone Number as part of Address.
- Mobile Number : Enter the Mobile Number of the Company or any other key person, as applicable, for reference. Tally uses the Mobile Number entered at this field, to make communication through SMS. Alternatively, you may enter the Mobile Number as part of Address.
- Fax No : You may enter Fax Number, if any.
- E-mail Address: Enter E-mail Address for the company. Tally uses the e-mail address entered at this field, to make e-mail communication. Alternatively, you may enter the e-mail address as part of Address
- Website ; Enter the Company Website name, if any
In Reports, you may optionally print selected part of address data, through the Report Configuration options / Report Title Button.
All Contact Details in Address : Alternatively, you may enter all these data in Address field and leave all other fields blank.
When you enter all the above components of address, in Address field, all the above elements would always be printed as part of the Address in all reports and documents. If you enter them in separate fields, you have to opt separately for each element to be printed in the document / report. So, make your plan accordingly.
Books Beginning Date
Books Beginning Date is the Date from which you start Accounting Work in the Tally Company created.
By default, the Date as entered at Financial Year From is carried at Books Beginning From (as most of the time, accounting work starts from the beginning of Financial Year). However, if you start Tally Accounts from middle of a Financial Year, enter the Date from which you start Tally Accounts.
For example, your Financial Year is 1.4.2014 to 31.3.2015, but you start Accounts in Tally from 1.8.2014, then at Books Beginning from, enter 1.8.2014. The books will however close on 31.3 2015 (one year from the date of Financial Year from).
Books Beginning Date helps you to prevent entry of voucher prior Book Beginning date, by mistake. For example, if you set Financial Year From as 1.4.2016 (because your Accounting Year starts from 1.4.2016) and Books Beginning From as 1.8.2016 (because you start accounting in Tally, from 1.8.2016), then Tally does not allow to enter Voucher between Financial Year From (e.g.1.4.2016) and Books Beginning From (e.g. 31.7.2016)
Base Currency : Base Currency is the currency in which normally accounts are maintained for the Company. All other currencies are called Foreign Currency for that Company. Only ONE Base currency can be specified for a Company.
At the bottom part of the Company creation / Alteration screen, enter the particulars of Base Currency
Tally proposes the standard values for Base Currency as per Country selected at Country field. So, the default info for Indian Rupee is auto set. You normally do not need to change anything for Indian Rupee.
Base Currency Info : Following options are available for setting / formatting / presentation of Currency figures in Reports. At Company creation / alteration screen, set as follows :
Base Currency Symbol : At Base Currency Symbol, the new Indian Currency Symbol is shown as default.
Currency Name : At Formal Name , Indian Rupees (Indian Currency Name) is displayed by default. You may change (e.g INR), for better understanding & brevity. The currency name entered here is printed at Amount in Words.
Decimal Precision : At Number of Decimal Places, enter the decimal places to be used to represent the Base Currency Amount (default value 2) for Indian Rupees (to represent upto Paise).
Currency Symbol place: At Is Symbol Suffixed to Amounts,
- Set Yes to show the Amount with Symbol suffixed to (after) Amount.
- Set No (default) to show the Amount with Symbol prefixed to (before) Amount
Accordingly the currency name in words (like Indian Rupees) also get Prefixed / Suffixed
Decimal Currency Name : Having set No at Is Symbol Suffixed to Amount, you may further set the Name of Decimal part of Currency as follows:
- Decimal Part with Name : At Word used to print Decimal Portion, enter the name of the decimal part of the currency (e.g Paise). This is printed at Amount in Words, in Invoice/ Receipt etc.
Amount Format : For better readability, figures are normally delimited by comma (e.g 32,734.59). Tally provides 2 types of Formatting, to represent figures of One Lac (100000) & above. To set the Amount Format, at the option Show Numbers in Millions,
- Lacs Formatting : Set No (default) to express in Lacs (e.g 12,34,56,789, 1,23,456 etc). In India, traditionally Lacs format is widely used to represent figures in Rs One Lac & above.
- Millions Formatting : Set Yes to express in Million format (e.g 123,456,789). Millions format is widely used Western Countries and by Foreign / Multinational Companies.
Even if you set Yes at Show Numbers in Millions, at General Configuration, (GoT>F12:Configure>General), you still have to set Yes at Show Amount in Millions at base Currency section at Company creation / Alteration screen, to get the Amount figures in Million Format (otherwise Amount figures would be shown in Lacs format, normally used in India).
Space between Amount & Symbol : You may optionally specify a space between Amount & Symbol (for better readability). At the field, Add Space between Amount & Symbol :
- Set Yes to show the amount with a space Amount & Symbol, for better readability
- Set No to show the Amount & Symbol concatenated (no space in between), to conserve space & provide better security
Decimal Places in Amount in Words : At Decimal Places for Printing Amount in Words, specify the number of decimal places (not more than the number specified in Number of Decimal places field in Company creation or currency master screen) for printing the amount in words. (e.g in Invoice and Cheque etc ).
Changing of Base Currency Symbol
You may set the New Indian Currency Symbol for Companies created earlier with older version, having Rs as Currency Symbol.
- On conversion of Company from Old Version : When you load your existing company in the latest version of Tally.ERP 9 Series A, for the first time, at the select company screen after loading, a message (Do you want to convert the Base Currency Symbol ?) will be prompted to convert the Old Base Currency Symbol (Rs) to the New Currency Symbol . Type Y to convert to new currency symbol, Type N to retain the old currency symbol (Rs).
- For existing Company : To specify the new Indian Currency Symbol, Click F3:Cmp Info >Alter. At the Base currency symbol field, press Ctrl + 4 to type the new currency symbol and save the settings.
Company Pre load on Start Up
We have explained how to load (select) a Company. To automatically load (select) regular companies you work with, you may Pre Load specific company on loading Tally.
Company Auto Loading set up
If you have set Pasword for autoloaded companies, you have to provide the Password for the respective Company, otherwise you cannot proceed.
At Gateway, click F12:Configure to get Configuration Menu. At Configuration Menu, select Data Configuration to get Data Configuration screen. At Data Configuration screen , set as follows:
Load Companies on Start Up : Set Yes if you like to load (get selected) any company automatically when you load Tally.ERP9.
- Pre-Load Companies on Start Up : Having set Yes at the option Load Companies on Start Up, you may select the Company to be pre loaded, from the list of Companies on Disk (all Companies created). So, when Tally.ERP 9 is loaded, the Company get loaded (you find them as selected Company at Gateway)
Selection of Company for Auto Loading
If you pre load a Company, you can proceed to work only when the company is pre loaded. If there is any problem in loading the company, you may not be able to proceed to work with Tally for any Company, as Tally may get stuck there.
Company Multiple Addresses
When a Company maintains centralised accounts in its Head Office, including its branches in the same Tally Company, then the Company will like to print address for respective Branch in the Vouchers, Invoices, Reports etc.
Sometimes, the Customer / Supplier may have multiple offices, godowns, etc but you may maintain only one ledger account for the Party but print respective address in Invoice, Receipts etc.
Often legal provisions require to print the Registered / HO Office in the Invoice / Receipts
The Multi Address feature in Tally.ERP 9 allows you to maintain multiple mailing details for the Tally Company and Party / Branch Ledger Accounts created in the Company.
Activating Multiple Address
To activate Multi Address in Tally.ERP 9, select GoT> F11: Features>Accounting Features to get Accounting Features screen. At Accounting Features screen, under the Other Features section, set Yes at Maintain Multiple Mailing Details for Company & Ledgers to activate the Multiple Address options.
Company Features option for Multiple Address
Having set Yes at Maintain Multiple Mailing Details for Company & Ledgers, you may further set Yes at Set/Alter Company Mailing Details to get Company Address Type entry screen to enter Company Branch names
At Company Address Type entry screen, type the Name of the Branch/Location (e.g Kolkata Office). To enter more Branch/Location names, press <Down Arrow> key and add more name
Company Branch Names Entry screen
To enter the address of the branch (Address Type), at Address Type screen, click on the respective Branch Name (Address Type) to get Mailing Details entry screen.
At, Mailing Details entry screen, enter the Mailing Name, Address, PIN Code, etc. in the respective fields, in the same way as you enter Company Address etc.
Multiple Company Address Entry (Primary)
Multiple Company Address Entry (Sales)
The State & Country do not appear at Multiple Address. To provide State & Country also in Address, you have enter them as part of Address
Address Printing in Reports
Having entered mailing address for Branches, you may print the respective addresses in Invoices, Reports etc.
Company Address Printing at Report Title
In the respective Report Printing screen (Click P:Print button at the respective Reports Display to get Reports Printing screen), click T: Titling (or press Alt + T) at right side button bar, to get Report Title screen.
Address printed at Report Title (Primary)
Address printed at Report Title (Sales Office)
At Report Title screen, at Company Address to print (this field will appear only when you activate Multiple Address feature ), the list of all offices as entered will appear . Now select the Office Name (select Primary to print the main Company address).
In the Report / Invoice/ Voucher etc , the address as entered for the selected Office Name would be printed. e-mail & website address cannot be printed in Report Heading (as there is no option to include that in Title printing screen). To include e-mail & website address in Report Heading, you have include these as part of Address.
Group Company is a virtual Company consisting of several constituent member companies, created to provide consolidated reports of member companies. So, you cannot enter data for Group Company. You can get reports of the Group Company showing the total figures of the constituent companies
Group Company is useful when several companies are owned by common owners. Since the owners manage several companies, they would be interested to see the information of all the companies managed by them together, to get the complete picture of the performance & state of affairs of all the member companies together
You may create a Group Company specifying the Member Companies. So, Member Companies must be selected first. You may then open a Group Company and get any report showing the consolidated figures of member companies
You may get the report of Group Companies at Reserved Group Level only. Only Accounts figures are reported in Group Company Reports (even though the constituent companies may contain Inventory data)
When you select any option for Master / Voucher creation / display / alteration etc, the first constituent company gets selected. All actions are then performed for the first constituent company.
For Example, if you have selected a Group Company G (having constituent Company A and B), then when you see a report for G (like Balance Sheet), it shows the combined report (of A & B for the current period).
But when you select any data entry option (e.g Account Ledger Creation or Voucher Entry), the first Constituent single Company A only gets internally selected and all operations are performed in Company A (as if you have selected Company A), though G (the Group Company) is the currently active Company.
In reports, you get the consolidated figures of Group / Ledger Accounts common to the Group & Member Companies. But when you drill down to individual voucher lists (Ledger Voucher), only the vouchers relating to the first member company (which gets selected internally), are shown (vouchers of other companies are not shown)
Creation of Group Company
If you have created multiple Tally Companies, you may create Group Companies with specified constituent Tally Companies. For example, having created 3 Companies, Company A, Company B & Company C, you may create a Group Company G with 2 Constituent Companies Company A & Company B.
To create a Group Company, you must first select the constituent Companies. Now click F3:Cmp Info button to get Company Info Menu
Company Info Menu
At Company Info Menu . select Create Group Company (it appears only when you select more than one company) to get Group Company creation screen
Creation of Group Company
At Group Company creation screen, enter the following :
- Directory : Here enter the location of Data where you like to place the data of the Group Company. The Data Directory Name as specified in the active Company, is shown by default at Group Company creation (which you may change, if you like to).
- Group Company Name : Enter the distinct Group Company Name (it must be different from all the companies created)
- Address : Enter various address details as explained for Company creation.
- Members : Select the Constituent (Member) Companies for the Group Companies. You may select several Member Companies for a Group Company.
The Group Company is then created.
Selection List of Company
A new Company Code is allotted to a Group Company also, like any other constituent single Company. The Company Code is shown in the selection list of Company .
List of selected Company (including Group Company)
Since no data is entered in the Group Company, there is no Financial Accounting period for Group Company (so no date is shown against Group Company) in selection list, or in the list of selected Companies in Gateway.
The created Group Company is shown in the list of selected Companies at the left part of Gateway of Tally. The Group Company Name is shown in Bold (even if it is not the currently Active Company) and the Constituent companies are shown under it (little indented to indicate them as Group Company).
Like any Company, you may select / alter or shut a Group Company. In the selection list of Companies (for shutting a Company), the Group Company name is shown with Asterisk. However, in selection list for selection of Companies, the Group Company is identified as Group Company
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