How to Split Financial years?

In order to split financial year Press Alt + F3 at Gateway of Tally. It will open the company info. menu.

Select the option Split Company Data.


Then select the company whose data is to be split.

Tally recommends the users to use a split-off-date based on the existing financial year range data of the company.Tally allows any date as the split point but it is recommended that the split point is set as the beginning of the latest financial year.

In Tally split occurs in a set of two periods. For example there are three years data in the period 01/04/2007 to 31/03/2010, for a company in Tally and you want to split them into three separate companies. Then while splitting select the beginning of the latest financial year as Tally would prompt you to do so.

After the dates are confirmed, two new companies will be created and opened on the Split Company Data Screen. First company will have the data for the period 01/04/2007 to 31/03/2009 and the second company will have the data for the period 01/04/2009 to 31/03/2010.

Activities to be done before Splitting the financial year

The following activities are to be done before splitting the financial year in Tally:

• Ensure that all the unadjusted gains or losses have been fully adjusted by journal entries.
• There should not be any pending Purchase bills or Sales bills. If found any then you may account them to the "Bills Pending" Account or respective party accounts.
• It is not compulsory but it is better to keep a back up of the data which already exists.
  

What is Split Financial Year?

Tally is a flexible software which has limitless accounting period(not in case of educational version). It allows the entry of data for any number of years which is a tremendous benefit for the user. In cases where there is huge volume of data in the past, it causes greater overhead on the system. The Split Financial year enables you to retain most benefits and solve this overhead problem. When you split the data of a company then the following things happen:

• For the respective split periods new companies are created.
• Full data is retained in the original company.
  

Multi Columnar Reports

In order to assess the performance of various units of an industry, an organisation often compares its financial data with other units. Tally generates such comparitive reports. You can view reports with columns representing different companies alongside each other but only of those companies which are active.
To add new columns to a report you are viewing Press Alt + C and select the new company from the list of active companies. Then give the data range for the report. Now a new column is added to your report. You can add any number of companies.

There is a Auto Column(press Alt + N) button too which enables you to bring up the same report for different companies in columns, with a Total Column which shows total of all companies.

Exporting and Importing of Inventory, accounts and voucher data from one company to another

This features helps in exporting and importing company masters that is accounts and inventory, and vouchers to another company.

Exporting Data - Select Display from Gateway of Tally. Then in order to export vouchers select Day Book or List of Accounts. After that click on the Export button on the horizontal bar. You can also press Alt + E in place of it and then specify the format of the file, file name and the type of masters to be exported.

Importing Data - Select Import of Data from Gateway of Tally and then select Masters in order to import all the masters or Voucher in order to import vouchers

Copying masters from one company to another

It is commonly seen that certain accounts are similar to all companies. It is mostly seen in case of branches or subsidiaries of a single parent company, since, the structure of accounts is basically same. Tally 9 enables you to copy the accounts or inventory created in one company to another very easily.
In order to copy single account choose single option but if you want to copy multiple accounts then choose multiple option.
You can copy an account in the following way:

1. Select both the companies, the source company that is the company where you have created the accounts and the destination company that is the company where you wish to copy the accounts.
2. Select Accounts info or Inventory info(which ever you want to copy) from the Gateway of Tally of the source company.
3. Select the relevant option at the Accounts Info or Inventory Info, menu.
4. Open the record in alteration mode by pressing 'A' for single accounts or 'T' for multiple accounts. Then select the accounts or group of accounts you want to copy.
5. Press F3 at the alteration screen to change the company. From the given list select the destination company.
6. Make alteration to the accounts if required in the destination company and accept the account by pressing ENTER or Ctrl + A. After the account is copied, it will take you back to the source company. Now accounts exists in destination company also.