The right half of Gateway of Tally area displays the company Info. menu (See figure below ). This menu has the following three options:
We will discuss all these options in detail in this chapter.
When you start Tally for the first time, there is no existing company hence the option "Select Company" is inactive (it appears gray) and the option "Create Company" is selected by default.
Creating a New Company
In order to create a new company, active the Gateway of Tally area and from the Company Info. menu, select the option "Create Company" by pressing the "C" key or by double-clicking at the "Create Company" option.
- Select Company
- Create Company
- Quit
We will discuss all these options in detail in this chapter.
When you start Tally for the first time, there is no existing company hence the option "Select Company" is inactive (it appears gray) and the option "Create Company" is selected by default.
Creating a New Company
In order to create a new company, active the Gateway of Tally area and from the Company Info. menu, select the option "Create Company" by pressing the "C" key or by double-clicking at the "Create Company" option.
This will bring up the Company Creation Screen (See Figure.), where you will fill up the basic information about the company you wish to create.
The items you will have to fill up are explained below:
Name
Type here the name of the company, you wish to create. The name of your company can exceed the space provided. Tally accommodates longer names by compressing the characters horizontally so that the name is fully visible and you needn't scroll sideways.
Note: You can't move further down the screen without specifying the name of the company.
Mailing Name
Type here the mailing name of the company. By default this name is same as the name of the company but if you wish you can specify a different name here.
Address
Type here the address of your company. You can enter any number of lines for the address. This choice is optional in Tally. If you don't wish to fill any address, simply press the "Enter" key and move to the next items.
Name
Type here the name of the company, you wish to create. The name of your company can exceed the space provided. Tally accommodates longer names by compressing the characters horizontally so that the name is fully visible and you needn't scroll sideways.
Note: You can't move further down the screen without specifying the name of the company.
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| Figure 1.3 Company Creation Screen |
Mailing Name
Type here the mailing name of the company. By default this name is same as the name of the company but if you wish you can specify a different name here.
Address
Type here the address of your company. You can enter any number of lines for the address. This choice is optional in Tally. If you don't wish to fill any address, simply press the "Enter" key and move to the next items.
Note:The above specified mailing name and address information is picked up for inclusion in any report which needs the company name and address on the top, for example, balance sheets, statements of accounts etc. Let us say you have a company named NBC Company which has its branches in Dhangadhi, Attariya, MahendraNagar. Since the parent company is the same at all three places, you can specify the same name for all the three branches, however, their mailing names should contain the branch name for a clear-cut distinction among the documents of three branches.