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Lesson 6 of 48 – Company Features
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⚙️ Company Features in Tally Prime

Company Features allow you to enable or disable different business modules according to your company's requirements. Instead of loading unnecessary options, Tally Prime lets you activate only the features you need.

Lesson Objective: Learn every important Company Feature available in Tally Prime and understand when to use each one.
1. What are Company Features?

Company Features are settings that control the functionality of your company in Tally Prime.

  • Enable GST
  • Enable Inventory
  • Enable Payroll
  • Enable Banking
  • Enable Cost Centres
  • Enable Multi Currency
  • Enable Interest Calculation
Company Features help customize Tally Prime according to your business needs.
2. How to Open Company Features?

There are two simple ways to open Company Features.

  1. Open your company.
  2. Press F11.
  3. Or go to Company → Features.
Shortcut Key: F11
3. Main Categories of Company Features
Feature Purpose
Accounting Accounting Options
Inventory Stock Management
Statutory & Taxation GST, TDS, TCS
Payroll Employee Salary
Banking Cheque & Bank Management
4. Accounting Features

Accounting Features control accounting-related options.

  • Bill-wise Details
  • Cost Centres
  • Interest Calculation
  • Budgets
  • Scenario Management
  • Multi Currency
Enable only the options required by your business.
5. Inventory Features

Inventory Features are used by businesses dealing with goods and stock.

Feature Use
Stock Groups Organize Products
Stock Categories Classification
Godowns Warehouse Management
Batch Numbers Batch Tracking
Expiry Dates Medicine & Food Industry
Inventory Features should be enabled only if your business maintains stock.
6. Statutory & Taxation Features

Statutory Features help businesses comply with government taxation laws. These features should be enabled only if they are applicable to your business.

Feature Purpose
GST Goods and Services Tax
TDS Tax Deducted at Source
TCS Tax Collected at Source
GST Returns Generate GST Reports
Example: If your business is GST registered, enable the GST feature before creating GST ledgers and vouchers.
7. Payroll Features

Payroll Features are useful for companies that have employees and need to calculate salaries automatically.

  • Create Employees
  • Create Pay Heads
  • Salary Structure
  • Attendance Tracking
  • Payroll Voucher
  • Payroll Reports
Example: A school with 40 teachers can calculate monthly salaries easily using Payroll Features.
8. Banking Features

Banking Features simplify bank-related accounting work.

Feature Benefit
Cheque Printing Print Cheques
Bank Reconciliation Match Bank Statement
E-Payments Online Payments
Payment Advice Generate Advice Notes
Deposit Slip Print Deposit Slips
These features are especially useful for businesses with frequent bank transactions.
9. Multi-Currency & Interest Calculation
Multi-Currency

Enable this feature if your business deals with customers or suppliers from other countries.

Interest Calculation

Automatically calculates interest on outstanding amounts based on predefined rules.

Feature Used For
Multi-Currency International Business
Interest Calculation Late Payment Interest
Enable these features only if your business requires them.
10. Enabling & Disabling Company Features

Company Features can be turned ON or OFF whenever required.

Steps
  1. Open the Company.
  2. Press F11.
  3. Select the required category.
  4. Enable or Disable the feature.
  5. Press Ctrl + A to save.
Tip: Enable only those features that your business actually uses. This keeps Tally Prime simple and improves performance.
Example: A grocery shop may enable Inventory and GST, while a coaching institute may only need Accounting and Banking features.
11. Practical Example of Company Features

Let's understand Company Features with a real business example.

Business Features to Enable
Medical Store Accounting, Inventory, GST, Banking
Computer Institute Accounting, Banking, Payroll
Garment Shop Accounting, Inventory, GST
Manufacturing Company Accounting, Inventory, Cost Centres, GST, Payroll
Soopro Pathshala Accounting, Banking, Payroll
Choose Company Features according to the type of business. Enabling unnecessary features can make the software more complex.
12. Common Mistakes While Configuring Company Features
Mistake Correct Practice
Enabling GST without GST Registration Enable GST only if applicable.
Keeping Inventory OFF for a trading business Enable Inventory before creating stock items.
Ignoring Payroll settings Enable Payroll if employees are managed in Tally.
Enabling unnecessary features Activate only the required modules.
Not reviewing F11 settings Check Company Features before starting accounting.
Incorrect feature settings may require additional configuration later.
13. Best Practices
  • Configure Company Features immediately after creating the company.
  • Enable GST only for GST-registered businesses.
  • Enable Inventory only if stock is maintained.
  • Take a backup before changing important settings.
  • Review F11 settings periodically.
  • Use strong security settings for company data.
  • Train users before enabling advanced features.
Proper Company Feature configuration makes accounting easier and improves reporting accuracy.
14. Practical Exercise & Interview Questions
Practical Exercise
  1. Create a sample company.
  2. Open Company Features (F11).
  3. Enable Inventory.
  4. Enable GST.
  5. Enable Payroll.
  6. Save the settings.
  7. Identify which features are useful for your business.
Interview Questions
  1. What are Company Features in Tally Prime?
  2. Which shortcut key opens Company Features?
  3. When should Inventory Features be enabled?
  4. What is the use of Payroll Features?
  5. Why is GST enabled in Company Features?
  6. What is Multi-Currency?
  7. Can Company Features be changed later?
15. Lesson Summary
  • Learned what Company Features are.
  • Opened Company Features using F11.
  • Configured Accounting Features.
  • Configured Inventory Features.
  • Configured GST & Taxation Features.
  • Configured Banking & Payroll Features.
  • Learned Multi-Currency and Interest Calculation.
  • Understood common mistakes and best practices.
Congratulations! You can now configure Company Features according to different business requirements in Tally Prime.

🧠 Quick Quiz

Which shortcut key is used to open Company Features in Tally Prime?



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