The procedure to split data based on financial years is as follows:
Go to Gateway of Tally > F3: Cmp Info
Select Split Company Data.
The Split Company Data menu appears
Select the option Select Company
Select the required company whose data has to be split from the List of Companies. Click here to know how to access Tally.Server 9 data.
Enter the required date from which you wish to split in the Split From field.
Tally.ERP will create two separate companies suffixing each company with the date from which it has been split.
Accept to split the company data.
Tally recommends the Split from date to be based on the existing data. It is recommended that the Split from date is set as the beginning of the current financial year, even though Tally permits any date.
It is advisable to take a backup of the original data on to another media before splitting the company.
Remove the company which contained three years data as you may accidentally use it for entering the current data.
The split occurs in a set of two periods. Hence, start to split the company with the latest period. E.g., The data is stored in the same company for a period of three years commencing rather than storing data in three separate companies. Initially the user has to split the company for two periods between 01/01/2003 and 31/12/2005 and the other part is split for the remaining period.
Two new companies will be created between the periods 01/01/2003 and 31/12/2004, and 01/01/2005 and 31/12/2005, i.e., the historical data of one or more financial years will be preserved as one company and your current financial year as the other. There is normally no reason to split the prior years again into separate companies. Incase you wish to split the data for an earlier period, then repeat the above mentioned steps.
The user can display or print financial reports such as Trial Balance, Balance Sheet, Profit & Loss, Stock Summary etc., for each of the companies for the relevant periods and compare them for accuracy.
The user needs to alter the names of the two freshly created companies according to the requirement.
Click here to know about connectivity and compatibility in Tally.Server 9 environment