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Consolidation of Accounts @ Tally.ERP9 ...

Consolidation of Group Accounts is often a mandatory requirement. Accounts of different companies belonging to the same management or owners are required to be consolidated to present the financial position of the group companies as a whole. Tally.ERP makes the consolidation of accounts an easy task in which accounts of any number of companies can be consolidated or kept separate.

To achieve this, you will have to first create a group company which contains the accounts of member companies. In other words, it is the parent company under which the individual companies are stored.

1. Create a Group Company

A Group Company can be created by only for companies that have already been loaded or opened.

To activate the Group Company feature, a minimum of two companies have to be loaded or opened. Since you have been working with a single company ( www.swayam-education.com), the Create Group Company feature will not be activated.

Create another company . for example, name Balasore Telecom Services. Ensure that both www.swayam-education.com and Balasore Telecom Services are loaded. Use ALT + F3 to view the Company info menu and you will see that the Create Group Company feature is activated.

Select Create Group Company and press Enter to display the Group Company Creation screen. Enter the details as shown :

Create a Group Company in Tally.ERP9

Tally.ERP displays all the loaded companies in the List of Companies . Select both the companies in this list and accept to create the Group Company.

Note :

• Transaction cannot be entered in a Group Company.

• The Group Company will give the summary (report) level consolidation and not transaction (voucher) level consolidation , i.e. no merging of vouchers is possible.

• The member companies of a Group Company should have the same formal name and base currency symbol.

• A Group company can be a member of another Group Company.

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Get..Tally.ERP9 Book + GST Assignment @ `. 550 !

15 Chapters in Tally.ERP9 Book + 21 Chapters in GST Practical Assignment on GST in Tally.ERP9 & All features are described with Practical Problems with Solutions.

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