Answer to Question #221473 in Management for SUSAN

Question

1. Please Create a Company in Tally Using Following Mentioned Details:-

 

Company Name: - Osaka Corporation.

Primary Mailing Details.

 Mailing Name: - Osaka Corporation.

Address: - Eastern Express Highway, Thane (West), Mumbai.

Country: - India

State: - Maharashtra.

Pin Code: - 400 601.

Contact Details.

Phone No.: - 022-221133

Mobile No.: - 88000 00022 

Fax No.: - 

E-mail: - [e-mail]

Website:- 

Books & Financial Year Details

Financial Year Begins from: - 1-4-2021 Books Beginning from: - 1-4-2021

Security Control.

Use Security Control: - No 

 

Base Currency Information.

Base Currency symbol: - Rs.

Formal Name: - INR

Suffix Symbol to Amount: - No

Add Space between Amt & Symbol: - Yes

Show Amount in Millions: - No.

Number of Decimal Places: - 2

Word Representing amount after Decimal: - Paise

Number of Decimal Places for Amt in Words: - 2 

Answer 1

In Accounting firstly, we do Journal then Ledger Posting then trial balance, then profit and loss account and balance sheet and all these we have to prepare manually but in tally software, we need to enter the journal entry or opening balance remaining things like ledger posting, trial balance, P&L, and Balance sheet will prepare automatically.

To create a new Ledger, firstly go to gateway of tally < Account Info < Ledgers < Create and then create the ledger whatever ledger you want to create.

3. Final date can be easily determined by opening directly any specific ledger by entering D+A+L on the gateway of tally and then open whatever ledger you want to open, or you can also open it via group (if created).

D+A+L is a shortcut that means

D = Display

A = Account Books

L = Ledger

Now by using the ledger data, he can understand how much balance is there in that specific ledger or how much payment he needs to pay, or he will receive or how much expense occurred yet, and many more things.