About company creation

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🔹 What is Company Creation in Tally Prime?

Company Creation in Tally Prime means making a new company profile in the software where you can store and manage all your business accounting data.

Just like a file or folder on your phone or computer, a "Company" in Tally is a separate space where:

  • All your accounts (sales, purchases, ledgers),

  • Inventory (stock),

  • Tax details (GST, VAT),

  • and Financial reports are saved.


🔹 Why is Company Creation Important?

Without creating a company in Tally, you can’t start entering data like vouchers, stock, ledgers, etc. It’s the first step when using Tally.


🔹 Information Required to Create a Company:

When you create a company, you need to enter:

  1. Company Name

  2. Mailing Address

  3. State (for GST)

  4. Country

  5. Financial Year Beginning From

  6. Books Beginning From

  7. GST Details (optional)


🔹 Steps to Create a Company in Tally Prime:

  1. Open Tally Prime

  2. On the home screen, click on "Create Company"

  3. Fill in the required details (Name, address, phone, financial year, GST, etc.)

  4. Press Ctrl + A to save


🔹 Example:

If you are starting a business called "Reyansh Mobile Store", you will create a company in Tally with that name. Then all the accounting entries related to this business will be done under that company.

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