Tally.ERP 9's flexible period-less accounting permits entry of data for any number of years. This in itself has tremendous benefits. However, presence of old data in cases where they are volumi- nous, causes greater overhead on the system. Splitting financial years enables you to retain most benefits while overcoming this overhead.
On splitting the data, two things happen:
‡ New companies are created for the respective split periods.
‡ The full data is retained in the original company.