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TALLY TUTORIAL

The concept of consolidation in Tally is simple, yet powerful. You can consolidate the accounts of any number of companies at any time, as well as keep them separate. You may virtually play around with bringing companies into the group and separating them at will. To do this a group company has to be created.

Group Company

Accounts of different companies belonging to the same management are normally required to be consolidated to present the financial position of the group of companies as a whole. A group company is an identity given to the merged accounts of constituent companies of the group.

Create a Group Company

A Group Company can be created only for companies that have already been loaded. Hence, we must first load two or more companies whose accounts are to be grouped.

Tally Walk-through to create a group company

1. Load JC Computer Supplies if not already loaded.
2. Using F1: Select Cmp button, select My Company.  Selected companies will be displayed in the left part of the Gateway of Tally screen.
3. Press [Alt + F3] and select 'Create Group Company'.
4. Enter the name Group Company (it could be any other name), address and tax details as shown below.
5. Select both the companies listed in the pop-up list.
6. Select 'end of list' to finish selection.

Note:   You are not permitted to go to the voucher level in the group company and hence, are not allowed to create or alter vouchers.

Your group company creation screen should be similar to the one below.

Alter a Group Company

The normal Alter method of a company is followed in the case of a Group Company.  You can select and deselect members through the After mode.  However, any change will come to effect only on shutting the Group Company and then reloading it.

Once the Group Company is created and loaded, it also becomes the active company.  Notice the constituent companies are given below the group company and are slightly indented to distinguish the group company.