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Accounting Software package: Tally — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountAccounting Software package: Tally6 Marks
Question
Explain the process of Company Creation.
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Answer



Fill the necessary fields with the information taken from internal and external documents of the Company:
  • Company Name: Enter the Name of the Company in this field.
  • Company's Mailing Address: Mailing Address of the Company which is printed in all external documents.
  • IT Number: Enter the Income Tax number allotted by Income Tax Deptt.
  • Accounting Module: If user wants to maintain Financial Accounts only select Accounts only and if he wants to maintain accounts with inventory select other option.
  • Financial Year: Specify financial year of the Company and enter beginning date of the financial year.
Other Details: If the user wants to specify other information he can fill in these fields. For example, he can specify the currency symbol that will be used to maintain the books of accounts. The symbol already appears for India and SAARC Companies and the field is left blank for other nations currency.
Saving the Profile: Finally when all Company details are filled save the Company Profile by accepting Yes.

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