TALLY- Company Creation

(This is an example problem and solution steps of the problem- the duplication of this Question & Answer can create similar record book content leading to recognition by the lecturer)

CONTENT

->PROBLEM

->INTRODUCTION

->OBJECTIVE

->PROCEDURE

->OUTPUT

PROBLEM:

Create new company named ECO- Travels Pvt Ltd from the following details.

1. It is an Indian Pvt Ltd Co, its mailing address is:

Flat No 31 A

New Complex Building,

Near Stadium, Attingal,

Tvpm- 695101

Kerala

E-Mail:- eco_travels@gmail.com

2. The financial year of the company is from 1-04-08 to 31-03-09 but the company stars business on 01-06-08

3. The company mentioned both Accounts with inventory but accounts and inventory are not integrated.

4. Local Sales tax registration no: issued by concerned authorities is KGST-1840-OH/1/8/07 and actual sales no: as CST-430-LE-2-09-07.

5. The income tax permanent a/c no: (PAN) is 1789/PAN/14.

6. The base currency is Rupees and Paisa and no foreign currency is issued.

7. The mgt decided to explain the amount in millions separated by commas as per traditional Indian practice.

8. A space is required after the currency symbol.

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Introduction:

Tally was the firs accounting package in the world to introduce the 'no code concept' for accounts. Its simplicity makes it used widely around the world. Tally is a classic sofrtware, it is simple, flexible and contains complete business solution that combines the accounting functions with the speed and accuracy of the latest computer technologies.

Tally provides you tremendous power to simplify the entire accounting practices.

Ojective:

Create a new company with the details given and display the company creation/ alteration screen with the contend.

Procedure:

Step1: Start Tally

START----->PROGRAMS------->TALLY ies7.2

Step2: Select Company Info menu

It is the default menu it can be viewed automatically.

Step3: Country Specific configuration

GATEWAY OF TALLY---> F12 configure---> GENERAL

Make changes as

Use accounting terminology of : India/Asia

Style of short date: dd-nn-yy

Show monthly report with graphs: Yes

Step4: Create Company

Use arrow keys to select 'Create Company', Press enter key- company creation screen gets displayed.

Step5: Fill the fields in the screen.

Directory: -----------

Name: Eco travels pvt Ltd

Address: Flat No:31 A

New Complex building

Near Stadium, Attingal,

Tvpm- 695101.

E-mail Address: eco_travels@gmail.com

Local Slaes tax no: KGST-1840-Dt 1/8/07

Inter State sales Tax no: CST-430-Dt 2/09/07

Income tax no: 1789/PAN/14 (PAN- Permanent Acccount No:)

Maintain: Accounts with inventory

(Mgt has decided not to link between Accounts and inventory so that below sequence is followed-

Gateway Of Tally--->F11 Features--->Intergrate Accounts & Inventory = NO (default)

Financial year From: 01-04-2008

Book Begining From: 01-06-2008

Base currency symbol: Rs

Formal Name: Rupees and Paise

Is symbol SUFFIXED to Amounts?: No

Show amounts in Millons?: Yes

Put a space between Amount and symbols?: Yes

Step6: After filling all the fields press Enter Key a confirmation box appears, press enter to create the company.

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Output:

Gateway of tally--> Company Info--> Alter (Select Eco- Travels Pvt Ltd)