The Company Info.(Information) menu appears as shown below::

 

The menu options in the Company Info. are as follows

Select Company

Allows you to Select or load a company.

Shut Company

Allows you to shut a company.

Create Company

Allows you to create a Company.

Alter

Allows you to alter a company.

Change TallyVault

Allows you to secure the data by providing a TallyVault password.

Backup

Allows you to take a backup of the company data.

The Gateway of Tally menu of an Accounts-with-Inventory company appears as shown below:

 

The Gateway of Tally screen is separated into four sections - Title Area, Main Area (Ctrl+M), Calculator Area (Ctrl+N) and the Button Bar.

Main Area

The left-hand side of the Main Area gives information of

1. Current Period – The currently loaded or selected company's accounting period.

2. Current Date – The date of the last Voucher Entry of the selected company (this is NOT the calendar date).

The Gateway of Tally menu of an Accounts Only company appears as shown below:

 

The Gateway of Tally screen is separated into four sections – Title Area, Main Area (Ctrl+M), Calculator Area (Ctrl+N) and the Button Bar.

Main Area

The left side of the Main Area gives information on:

1. Current Period – which is the currently loaded company's accounting period.

2. Current Date – This is the date of the last Voucher Entry for the selected company.

Gateway of Tally is the screen that appears on selecting a company. The Gateway of Tally menu differs based on the type of company selected. An Accounts Only Company has a different Gateway of Tally menu from that of an Accounts-with-Inventory Company

Press Enter on Select Company or use the button F1: Select Cmp. Tally displays this screen

 

Tally displays

1. Company Name (All the companies created are displayed)

2. System-generated code for each company displayed

3. The Financial Year information relating to the number of years data present in the compan

In order to load a company using the Select Company option, disable the default loading of a company in Tally.INI file. Set Default Companies to No OR place a semi-colon before Load = 0001 (company number - placing a semicolon means that the words following it in that line would not be executed. Each line is a separate command).

On double-clicking the Tally icon, the screen appears as:

When creating a company, Tally creates a sub-directory under its \DATA directory for the company. The directory is allotted a number in serial order starting with 0001 (example – 0001, 0002…0009...0020, etc these are system generated codes for the company).

In order to automatically load a company, Tally has to be configured appropriately by setting the TALLY.INI file (available in the Tally directory).

Ensure that Default Companies is set to Yes and specify the company number which has to be loaded automatically, for example, Load = 0001

A newly created company loads automatically. However, for subsequent working, you must load or select the company you want to work with from the List of Companies. (Select and Load are synonymous). A company can be loaded in two ways:

1. Automatically by Tally.

2. Using the Select Company option

Creating a Company involves providing basic information about the company whose books of accounts are to be maintained in Tally.

Go to Gateway of Tally > (Alt+F3) Company Info. > Create Company

 

Above is displayed an International Company Creation Screen. Note that the State and PIN Code fields are not available.

The screen for India/SAARC would be:

 

A detailed explanation on each field is given:

Directory

The options available are Country Details, Style of Names, Style of Dates, Configuration of Numbers and Other Options.

Go to Gateway of Tally > F12:Configure > General

 

The Configuration settings of Country Details, Style of Names, Style of Dates and Configuration of Numbers are self-explanatory. The prime differences are in the use of terms like VAT in Europe and Sales Tax in Asia and America that have to be configured before creating a company. Refer the section Operations Configuration for details on the other fields.