Delete A Company,Creating A Group Company And Shut A Company

Delete A Company: To delete a company, you have to load the company first.

1. Select F3: Cmp Info. (Alt+F3) from the Gateway of tally to proceed to the company information manu.

2. Select Alter and press Enter.

3. Select the company to be deleted. The Company Alternation screen is displayed.

4. Use Alt+D to delete. Tally will promp for a confirmation for deleting the company,

5. Press enter to delete the company.

Note: Deletion of a company is irreversible. The company is permanently deleted from the system.

Group Company: The books of account of different companies belonging to the same management or owners are required to be consolidated to present the financial position of the group of companies as a whole. This is mandatory in many developed countries and currently shareholders would rather know the performance of the group as a whole and not the performance of individual constituent companies.

Tally makes consolidation of accounts a simple task. You can consolidate the accounts of any number of companies as well as keep them separate. You also have the option of bringing the companies into the group and separating them at will. The first step is to create a Group Company, which is simply a name and identity given to the merged accounts of constituent companies of the group. A group company may also include other group companies. 

Note: Do not confuse the word Group to refer to a member of the group! It simply contains the consolidated accounts of member companies.

Assume that yours is a global, trans-national organization headquartered in the UK having subsidiary companies in countries around the world. The group has different lines of business. Let's say the business are Thread, Fashion Retail, Home Fabrics and Accessories. You would prefer to present your group accounts in groups according to their line of business, which in turn are grouped accounts of the individual companies around the world.

Creating A Group Company: A group can be created only for companies that have already been loaded. The first step is to load the company whose accounts are to be grouped. The companies can be loaded automatically if specified in the Tally.INI file. Alternatively, select the companies using F1: Select Cmp button, as shown:

Press <Alt>+F3 or click the button (F3: Create Cmp) and select Create Group Company.

Enter the name of the Group Company( which is mandatory) , Address and tax detail and select the members of the group company from List Of Company.

Say, you have selected the two members as shown. Select End of List to complete the selection process.

The Group Company Thread will be created an loaded. It also becomes the active company. Notice that the constituent companies are given below the group company and are slightly indented to distinguish the Group Company.

You can now display and print Group accounts through the Thread Company.

Shut A Company: Shut a Company is to unload it . It does not mean that you have deleted it. Simply select it again to load and word on it again.

You can Shut a Company in two ways - either using the button F1: Shut Cmp (ALt+F1) or pressing Enter on Shut Company menu option on the Company Info. Menu.

The screen appears as shown below:

Select the Company to be shut from the List of Primary Companies.