Managing your company accounts becomes more structured when your company financial data is organised year-wise.
If you want to easily mantain historical and current transaction’s financial year records, TallyPrime splitting company data feature is very essential.
As your business data grows over time it eventually becomes difficult to handle all transactions within a single view.
As Tally software experts, we recommend you to split your company data only after finalising your books. This will help you keep records organised and simplify accounting and reporting.
If you’re wondering how to split data in TallyPrime this complete guide will help you understand everything.
What does splitting data mean in TallyPrime?
Data splitting means dividing your company accounts into separate records based on a selected split date. This is usually performed to organize financial data across different periods.
For example, your company may have accounting data from 2021 to 2026. Splitting will help you separate this data into more manageable parts for easier handling and reporting.
After splitting your data the records are basically divided based on the chosen split option in TallyPrime. Thee are three options: before the split date, after the split date, or into two companies.
This may result in separate company data for different periods. It will help you manage historical and current transactions more clearly.
Keep in mind after splitting data all accounting information remains intact and properly organised.
Why do businesses split company data in TallyPrime?
You can continue using the same company data in TallyPrime for multiple financial years. But with time number of transactions increases and the data becomes very difficult to manage. This can lead to slow loading and delay while generating reports. You can also get issues with backup and errors during auditing.
This is the only reason why accountants split company data at the end of every financial year to maintain separate records for each year. You can also use professional tally support services like Gseven.
Benefits of splitting data in TallyPrime
Large data files slow down your accounting software, splitting data reduces file size and improves speed. Reports open faster and even voucher entry becomes smoother. It becomes easier for you to manage accounts year by year. Instead of searching through five years of transactions you can just work only with current financial year data. Very large company data files are more vulnerable to corruption and even technical issues. Splitting data helps you reduce risk and improve stability.
You need to know that smaller files are easier and faster to backup. This also helps you use cloud storage or remote accounting systems. Auditors usually review accounts. A separate financial year data mix auditing and compliance is completely easy.
When should you split company data?
You can split company data at the end of the financial year or before starting a new financial year. Usually you split data after finalizing accounts for the previous financial year.
Note: Data should ideally be split only after finalizing books and completing statutory reconciliations.
Things to consider before splitting data
One of the most important steps is to take a full backup. You must always create a backup before splitting data if something goes wrong your original data remains safe.
Always run Verify Data before split and resolve errors if found. This helps identify errors or corruption in the database. To verify company data you can open the gateway of Tally, select the company and use the verifications available in TallyPrime.
Gseven Tally experts also recommend completing pending purchase/sales entries.
GST/TDS Compliance is also very importnat. Reconcile your GST returns and complete statutory filings before the split. Don’t miss adjusting forex gains/losses if applicable.
Before you finalize the data you can complete all the voucher entries and finalize balance sheets. It’s vital for you to reconcile bank accounts and verify stock records.
How to split data in TallyPrime: Step-by-step guide
Step 1: Open TallyPrime
You can launch TallyPrime on your system and select the company whose data you want to split.
Step 2: Open the Split Data Option
From the Gateway of Tally, press Alt + Y (Data) and select Split > Split Data.
Step 3: Verify Company Data
Before proceeding, TallyPrime may prompt you to verify your company data. It is recommended to complete the verification process and resolve any errors before splitting the data.
Step 4: Enter the Split Date
In the Split Company Data screen, enter or confirm the split date based on your business requirement. This is commonly done after completing a financial year.
Step 5: Select the Split Option
Choose the appropriate option for splitting data:
- From Split Date – Creates a new company with data from the split date onwards
- Before Split Date – Creates a new company with data before the split date
- Into Two Companies – Creates two separate companies based on the selected split date
Step 6: Confirm and Start Splitting
Review the details carefully and select Yes to continue. During processing it is important to avoid closing your Tally software.
Step 7: Check the Split Companies
After the process is completed the newly created companies will appear in the company selection screen. Open the companies and verify balances, ledgers, and reports to ensure your data has been split correctly.
What happens after splitting data?
After splitting data in TallyPrime, a completely new company data is created which depends on your selected split option and split date. The option you chosen your data may be divided into records before the split date, after the split date, or into two separate companies.
You should know the original company data remains unchanged after the split process. The companies which are now newly created will contain all the relevant transactions and opening balances. As well as financial records according to your selected split configuration.
Note: After splitting, it is recommended to open the newly created companies and verify balances, ledgers, and reports. Finally ensure the your data has been split correctly after the process.
Does splitting data delete information?
No, TallyPrime does not delete our existing accounting records. It just creates separate company data based on the selected split configuration. Your historical data remains safe and accessible.
How long does data splitting take?
It all depends on your company size, number of vouchers and system performance.
Conclusion
So understanding how to split company data in TallyPrime is important for every business using accounting software regularly. Splitting data helps you improve your software speed and also organize financial records. This process itself is quite simple when done carefully. Just remember some important steps like taking backup and verifying the company data.
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FAQs
Can I split data more than once?
You can split company data in TallyPrime more than once if needed.
Will GST data remain available after splitting?
GST data stays available in the split company records.
Can I reverse a split operation?
No, once the data is split, you cannot reverse it.
What happens if errors exist during splitting?
If there are errors, you’ll need to fix them before the split can complete.
Should I split data before or after audit completion?
It’s better to split after finishing the audit and finalising accounts.
What is the shortcut for splitting data in TallyPrime?
You can access the Split Data option from the Gateway of Tally using Alt + Y (Data) > Split > Split Data.
Does splitting data remove all transactions?
No old transactions remain stored in separate companies for reference.
Why should you verify company data before splitting?
Verification helps identify errors or corruption before the process starts ensuring safe data splitting.
Can I split data in the middle of a financial year?
Technically yes but it is usually recommended to split data at the end of the financial year for better accounting management.
Is backup necessary before splitting data?
Just taking backup is extremely important before splitting company data to prevent accidental loss.