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Moving to the Next Financial Year (India) – Change Current Period

You can quickly start new books of accounts with existing company masters for new financial year by following simple steps. You can just change the period and you are ready to start new financial year book keeping. When your books of account is pending to be finalised or audited, which might happen later on impacting modification of balances or c/f balances that can be easily updated with this process.

Change Current Period

To move your data to the new financial year, change the current period to:

  • Continue the voucher entry in the same company data.
  • Carry forward all ledger balances without creating a new company.
  • Compare the reports from different financial years.

To change the current period

  • Go to Gateway of Tally > Press Alt+F2 (F2: Period) and enter the dates.













    The Current Period appears as shown below:


When the Current Period is changed, the balances from the previous financial year are carried forward. You will retain the Financial year beginning from and Books beginning from dates in the Company Alteration screen.

Note: In some countries the financial period starts from 1st Jan and ends on 31st Dec. You can enter 1-Jan with respective year in the From field and 31-Dec in the To field while changing current period in such countries.

We recommend starting fresh series of voucher numbering for your New Financial Year by setting Restart Voucher Numbering for all applicable voucher types used in your business, from 1st April, to implement a unique set of numbering for your books and manage your outstanding.

To record the transactions from 1st April of the new financial year, you can restart the voucher numbering with unique voucher numbers for all your voucher types.

Restart Voucher Numbering

You can restart the numbering of your vouchers by entering the date from which you want to restart the voucher numbers.

  1. Gateway of Tally > Create/Alter > Voucher Type.
    Alternatively, Alt+G (Go To) > Create Master/Alter Master > Voucher Type.
  2. If you select the Method of Voucher Numbering as Automatic (Manual Override), a voucher number is generated automatically however you can also manually override the auto-numbering when required.
  3. Set the option Prevent duplicates to Yes, to ensure unique voucher numbers.


  4. Set the option Use advanced configuration to Yes, to open the Voucher Type Creation (Secondary) screen.


  5. In the Starting Number field enter 1, if you want a fresh batch of voucher numbers.
  6. Enter the Restart Numbering as required.
  7. Enter the Prefix Details and Suffix Details as required.

    Now you can easily record your transactions with a new series of voucher numbers.


    The sales voucher appears as shown below:

 

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