You can split the company data based on the financial years, the following are the prerequisites for splitting company data.
Prerequisites for splitting company data
Before splitting the data in Tally, you must ensure following.
You have to take backup of the data before split
You have to record all adjustment entries before split
Example, Wisdom Media is using the same company from 1-4-2015 to till date to record the daily transactions, in this case for finalization of final accounts you have to split the company data for current year i.e. 1st April 2015 to 31st March 2016.
Path: Go to Gateway of Tally F3 (Alt+F3) Com info
The above screen shot indicates Wisdom Media Company has been created on 01.04.2015. Go through the above said path and click on split company data (Ref below screen shot).
From the above screen shot select for which company data you want to split from the list
Split from: Enter date (this date will become the financial year beginning for the new company)
Once the data has been split, then the two companies will be created and opened, without any changes in the original data.
After the data split, all companies act as separate companies, and you can able to record all types of entries and alter any data in these companies.
The above screen shot indicates Wisdom Media Company data is splitting from 1st April 2015 to 31st March 2016 one Company and from 1st April 2016 to till date another company.
Click on Yes to accept and split the data.
Check the split companies
Go to Gateway of Tally Select Company (F1)
Here you can able to see split companies in the below screen shot