This document provides instructions for setting up a new company in Tally accounting software. It describes creating a company, setting up accounts, items, paying heads, and income sessions. It also outlines how to enter goods, cash, and journal transactions and generate key reports like the daybook, ledger, trial balance, trading account, profit and loss statement, and balance sheet. The goal is to set up the basic elements needed to manage accounting for a new business entity within the Tally software.

1. Company
Create a company after you open
tally.
This is your first used Company.

2. Master
• Create Accounts as per your desire.
• Create goods and items as per your desire
with proper units o measure.
• Create paying heads as peer you desire.
• Create income session via payroll as per your
desire, (Room rent in hotel is a payroll type
income for Hotel Payroll – A pinch note even
the tally develoer should mind about).

3. Entry
• Goods (F8, F9)
• Cash (F4, F5, F6)
• Journal (F7)

4. Report
• Display > Daybook.
• Display > Account book > Ledger.
• Display > Trial Balance > F5.
• Final Accounts.
– Trading Account
– P and L Account
– Balance Sheet