Podcast
Questions and Answers
What feature is included in Tally.ERP 9 software that is considered essential by industries?
What feature is included in Tally.ERP 9 software that is considered essential by industries?
What action can be performed using the 'Create Company' option in Tally Prime?
What action can be performed using the 'Create Company' option in Tally Prime?
What does the 'List of Companies' box in Tally Prime display?
What does the 'List of Companies' box in Tally Prime display?
When selecting a company in Tally, where will all the accounting entries get recorded?
When selecting a company in Tally, where will all the accounting entries get recorded?
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How many companies can be opened simultaneously in Tally software?
How many companies can be opened simultaneously in Tally software?
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'Create Company' option in Tally allows you to store information related to which aspect of the company?
'Create Company' option in Tally allows you to store information related to which aspect of the company?
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Which key should be pressed to access the 'Company' function?
Which key should be pressed to access the 'Company' function?
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What key combination is used to access the 'List of Companies' menu?
What key combination is used to access the 'List of Companies' menu?
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What is the purpose of selecting the 'Quit' option in the 'Company' menu?
What is the purpose of selecting the 'Quit' option in the 'Company' menu?
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Which option should be chosen to make changes in the basic information of a company?
Which option should be chosen to make changes in the basic information of a company?
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Which menu is accessed by pressing Alt + K at the 'Gateway of Tally' screen?
Which menu is accessed by pressing Alt + K at the 'Gateway of Tally' screen?
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What function do Groups serve in Accounts Masters?
What function do Groups serve in Accounts Masters?
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What is the shortcut key to go to the Company Menu in Tally?
What is the shortcut key to go to the Company Menu in Tally?
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In Tally, to create a new company, what key should be pressed after reaching the 'Create Company' option?
In Tally, to create a new company, what key should be pressed after reaching the 'Create Company' option?
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What should you press after filling in the details of the company to complete the creation process?
What should you press after filling in the details of the company to complete the creation process?
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Which of the following features should have 'Y' selected in the Company Features box for accounting purposes?
Which of the following features should have 'Y' selected in the Company Features box for accounting purposes?
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In the Chart of Accounts provided, which group does 'Furniture' belong to?
In the Chart of Accounts provided, which group does 'Furniture' belong to?
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What is the PIN code entered for the company's address in Tally?
What is the PIN code entered for the company's address in Tally?
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Study Notes
Tally.ERP 9 Software Features
- Tally.ERP 9 Software comes with the feature of GST (Goods & Services Tax)
Company Operations
- Create Company: option is used to create new books of accounts for a business
- Shut Company: option is used to close an open company
- Alter Company: option is used to make changes to the basic information of a company
- Select Company: option is used to select a company to work upon
Create Company
- Company Data Path: option stores the location of company files on the hard disk
- Change Company: function is used to make a company active, accessed through F3 function key
- Alt+F3 key combination is used to return to the "List of Companies" menu
Company Menu
- Shut Company: option is used to close an open company
- Alter Company: option is used to make changes to the basic information of a company
- Quit: option is used to exit the "Company Info." menu
Accounts Masters
- Groups are the parents for different Ledger Accounts
- To create a Group, go to the Company Menu and press enter on the "Create" option
Exercise
- To create a company, fill in the required information, including company name, address, country, state, pincode, mobile number, email, financial year, and Tally Vault password
- Select "Accept" to create the company
- In the Company Features box, select "Y" for the first two accounting features, "Maintain Accounts" and "Enable Bill-wise Entry", and "N" for all other features
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Description
Learn about the functions and key combinations in Tally Prime ERP related to changing the active company and accessing the list of companies. Explore the options available in the Company Menu.
