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Set TallyVault for Your Company

Setting a TallyVault for your company’s data is a critical security measure to safeguard sensitive information. TallyVault serves as a gatekeeper, allowing authorized personnel to access and manage the data. It should be a strong, unique password that’s not easily guessable. Regularly altering the password, as needed, enhances security. Changing the TallyVault password periodically helps mitigate the risk of unauthorized access and data breaches, ensuring that only you can control and access sensitive company information.

It acts as a protective barrier, controlling access to critical systems and sensitive data. This enhances security, preventing unauthorized users from tampering with or stealing valuable information. Also, it helps maintain the integrity and confidentiality of your company’s digital assets, ensuring that only you can make changes, updates, and decisions that impact the organization. This proactive measure is a fundamental component of a robust cybersecurity strategy, helping safeguard your company’s operations and reputation in an increasingly digital and interconnected world.

TallyVault represents an advanced security system designed to encrypt your company data. Depending on the specific privacy needs of your business environment, if you wish to ensure the confidentiality of your company within TallyPrime, TallyVault is the solution. By setting a TallyVault password, your company and all transaction details, including the company name, will be securely encrypted. Subsequently, each time you access your company, you will be required to enter this password to access the company name and other associated details.

Set TallyVault While Creating Your Company

If you wish to hide the company name from being displayed in TallyPrime when selecting a company, you have the option to set a TallyVault password for your company. This process involves encrypting your company data, thereby safeguarding its privacy. 

Access to the company will only be granted to those who are aware of this password. If the password is lost, it cannot be recovered. 

1. Create a Company in TallyPrime.
2. Set the TallyVault password under Security.

   If you do not see the Security option, press F12 (Configure) > set the following options (Use TallyVault Password to encrypt Company Data and Use User Access Control) to Yes.

   1. Set TallyVault Password to encrypt Company Data: Yes.
   2. TallyVault Password: Enter a password to encrypt your data.
   3. Confirm TallyVault Password: Reenter the same password to confirm.

      Forgetting this password will result in permanently losing access to your company data.

      
3. Provide other necessary details and accept the screen. As always, you can press Ctrl+A to save.

Now, your company data is successfully safeguarded by TallyVault password.

Set TallyVault After Creating Your Company

If you had already created a company without setting a TallyVault password, there’s no need to worry. You have the flexibility to set a TallyVault password at any time in the future. Before you start to set the TallyVault password, ensure that you have closed all the open reports, vouchers, and masters.

1. Press Alt+K (Company) > TallyVault.
2. Set your TallyVault password.
   1. TallyVault Password: Enter a password to encrypt your data.
   2. Confirm TallyVault Password: Reenter the same password to confirm.

      Forgetting this password will result in permanently losing access to your company data.

      
      
      
3. Accept the screen. As always, you can press Ctrl+A to save.
4. Reconfirm by pressing Y on the message screen.
   Since you are setting the password for the first time for your company, your will be prompted to reconfirm.
   

   If you have some open reports, vouchers, masters, you will get the below prompt.

5. Press Y on the next confirmation screen, if you want to create a copy of the original company without the password.
   Pressing No will not create a copy of the original company.
6. Provide the TallyVault Password to open the encrypted company.

After creating a company with a TallyVault password, the next time you access the list of companies, the company name will be displayed with a series of asterisks, while the company number remains visible.

Alter TallyVault for Your Company

If you had already created a company with a TallyVault password, you have the flexibility to modify the password at any time as per your requirements. Before you start to set the TallyVault password, ensure that you have closed all the open reports, vouchers, and masters.

1. Press Alt+K (Company) > TallyVault.
2. Set your new TallyVault password.
   1. Old Password: Enter the existing password.
   2. Password: Enter a new password. This password should be different from your old password.
   3. Confirm TallyVault Password: Reenter the same new password to confirm.

      Forgetting this password will result in permanently losing access to your company data.

3. Accept the screen.
   
   As always, you can press Ctrl+A to save.
4. Reconfirm by pressing Y on the message screen.
   Since you are altering your existing TallyVault password for your company, your will be prompted to reconfirm.
   

   If you have some open reports, vouchers, masters, you will get the below prompt.

5. Press Y on the next confirmation screen, if you want to create a copy of the company without the password.
   Pressing No will not create a copy of the original company.
   
6. Provide the TallyVault Password to open the encrypted company.

You have altered the TallyVault password for your company successfully. Next time you need to select this company from the list of companies, you will find the company name with a set of asterisks along with the company number.

TallyVault Exceptions

Scenario:

If, during the process of setting the TallyVault password, you choose No in response to the following message:

• If Antivirus software is installed on your system, it may interrupt the process due to scheduled or real-time scan.
• If there is a power failure, the process will be interrupted.

Solution:

In either of the scenarios, there will be no data loss. However, your company data might reside either in the existing Company folder or in a Temp company folder.

• If data resides in the existing Company folder, you can continue to access the data by providing the TallyVault password.
• If data resides in the Temp folder, you can simply rename the Temp folder to an existing company number and open the company.

Now, you are able to set and alter your TallyVault for your company to ensure the confidentiality of your company within TallyPrime.