How to Split Financial Years?
1. At the Gateway of Tally.ERP, Select [ALT]+F3: Cmp Info (Create Cmp in earlier releases).
2. Select Split Company Data.
3. Select the Company whose data is to be split.
4. Tally.ERP recommends the split-off date based on the data existing. It is recommended that the Split Point is set as the beginning of the latest financial year though Tally.ERP permits any date as the split point.
5. Splits occur in sets of two periods. Hence, start with the latest. For example assuming that one years data – from 1-4-2012 to 31-03-2012 for a company and you want them split into two separate ‘companies’ each with a financial year. First, select the beginning of the latest financial year (this is what Tally.ERP would prompt you to do).
6. On confirming the activity, two new companies will be created – one with data from 1-4-2012 to 30-9-2012 , i.e., six month, and the other for 1-10-2012 to 31-03-2012.