I have set up a samba server

Can I use this server for running an accounting package (tally client server)

depends on what you mean by 'running' the accounting package
if you mean place the program on the share and run it from there on your windows machine then it should be possible, but if you mean run it on the linux machine as a backend, and connect it to from your windows box then wine would be your answer

I'm assuming you are talking about running your accounting software on a Windows machine but with the actual software located on your Linux samba share.

I would say that there is a very good chance that you could. If you have the option of choosing what directory you want to install the software in then choose your Samba share and everything should work assuming Samba is configured correctly.

If that doesn't work, you might be able to install it on your Windows machine then copy or move all the files from the directory it installs itself into (probably under Program Files) to the Samba share. Generally speaking, Windows programs put a lot of information into the Windows registry when you install them. If any registry values point to specific locations for your software or data files then this won't work (unless you change the registry values to point to the correct location within your share).

Another possible option is to change the ProgramFilesDir registry value within the Windows registry to point to your Samba Share. Anything you install that uses the default installation directory will be installed on your share. Don't try this if you are not really comfortable with working with the registry. I would not recommend this approach, because Windows may experience difficulties when you update it or it updates itself. Microsoft doesn't bother to have its software check this value (it would probably take a single line of code to get this value and make Windows drastically more flexible, but thats Windows for you) and assumes that everything is in the default location.

If you are talking about keeping your actual accounting data on your Samba share rather than the software itself then you would presumably have to tell your accounting software where you want it to keep your data and this should work just fine as long as your Samba share is set up correctly.