Company ?
✅ What is a Company in Tally Prime?
In Tally Prime, a Company means your business data folder where all accounting work like ledger, voucher entries, GST, reports, etc. is stored.
Example: If you have a business named "Tiwari Cement Works", you will create one company in Tally named "Tiwari Cement Works".
Every company is separate, with its own:
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Accounts
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Vouchers
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Reports
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Settings
📌 Uses of a Company in Tally Prime
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To record financial transactions (sales, purchase, payments, receipts)
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Maintain stock/inventory
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Prepare GST returns
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View reports like Balance Sheet, Profit & Loss
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Do accounting for one or more businesses
🏢 How to Create a Company in Tally Prime (Step-by-Step)
▶ Step 1: Open Tally Prime
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Launch Tally Prime software
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On the startup screen, choose: "Create Company"
▶ Step 2: Fill Company Details
| Field | What to Fill |
|---|---|
| Company Name | Your business name (e.g., “Tiwari Cement Works”) |
| Mailing Name & Address | Company’s postal address |
| Country & State | Select India and your state (for GST) |
| Pin Code, Phone, Email | Optional but useful |
| Financial Year begins from | Usually 1-April-20XX |
| Books beginning from | Usually same as above |
| Currency Symbol | ₹ for INR (default) |
| Maintain | Accounts Only or Accounts with Inventory |
| Enable GST | Yes/No (based on your business) |
| Set Password (optional) | For data security |
▶ Step 3: Save Company
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Press
Ctrl + Ato save -
Your company is now created 🎉
🔐 Company Security Options (Optional)
While creating or after creating a company, you can set:
| Security Option | Purpose |
|---|---|
| Tally Vault Password | Encrypt company data (secure & private) |
| User Security Control | Give limited access to users (like only view, not edit) |
| User Roles | Admin, Data Entry, Auditor etc. |
🔄 How to Open, Shut or Alter a Company
| Task | How to Do It |
|---|---|
| Open Company | Alt + F3 → Select Company |
| Shut Company | Alt + F1 (on Company screen) |
| Alter Company | Alt + K → Company Info → Alter |
| Backup Company | Alt + Y → Data → Backup |
| Restore Company | Alt + Y → Data → Restore |
📁 Where is the Company Data Stored?
Tally stores company data in folders like this:
C:\TallyPrime\Data\10001You can take backup, restore, or move these folders.
📝 Example: Create Company for a Cement Business
| Field | Value |
|---|---|
| Company Name | Tiwari Cement Works |
| Mailing Name | Tiwari Cement Works |
| Address | 122 MG Road, Bhopal |
| State | Madhya Pradesh |
| Country | India |
| Financial Year | 01-04-2024 |
| Books from | 01-04-2024 |
| Maintain | Accounts with Inventory |
| Enable GST | Yes |
| GSTIN | 23ABCDE1234F1Z3 |
💡 Important Notes
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You can create multiple companies in Tally.
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You can work on more than one company at the same time.
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You can also export/import company data.
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You can enable features like Inventory, GST, TDS, etc. during or after company creation.
🧠 Summary Table
| Topic | Description |
|---|---|
| What is Company | Business data folder |
| Why create it | To record & manage accounts |
| Steps to Create | Startup → Create → Fill Details → Ctrl + A |
| Shortcuts | Alt + F3 (Open/Select Company) |
| Data Folder | C:\TallyPrime\Data\ |
| Security | Tally Vault & User Roles available |
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