How to Create a Group of Companies in Tally ( Part 45) Video Lecture | Tally ERP 9: Complete Training - Software Development

Ans. To create a group of companies in Tally, you can follow these steps: 1. Open Tally and go to the Gateway of Tally. 2. Select "Company Info" and then click on "Create Company." 3. Enter the necessary details like the company name, address, and financial year. 4. Under the "Company Creation" screen, select "Yes" for the option "Create a group of companies." 5. Enter the group name and select the parent company from the list. 6. Finally, click on "Accept" to create the group of companies in Tally.

Ans. Yes, you can add new companies to an existing group in Tally. To do this, follow these steps: 1. Open Tally and go to the Gateway of Tally. 2. Select "Company Info" and then click on "Create Company." 3. Enter the necessary details for the new company. 4. Under the "Company Creation" screen, select "Yes" for the option "Create a group of companies." 5. Choose the existing group to which you want to add the new company. 6. Finally, click on "Accept" to add the new company to the existing group in Tally.

Ans. Creating a group of companies in Tally offers several benefits, including: 1. Consolidated financial reports: You can generate consolidated financial reports for all the companies within the group, giving you a comprehensive overview of the group's financial performance. 2. Centralized management: With a group of companies, you can centrally manage common features like ledgers, groups, and cost centers, reducing redundancy and ensuring consistency across the group. 3. Intercompany transactions: Tally allows for seamless intercompany transactions within the group, making it easier to track and reconcile transactions between different companies. 4. Efficient data management: By creating a group of companies, you can efficiently manage and organize data for multiple companies within a single software, eliminating the need for separate software for each company. 5. Simplified compliance: Tally provides features to streamline compliance-related tasks like GST filing and tax calculations, making it easier to ensure compliance for all companies within the group.

Ans. Yes, you can create a hierarchy of groups within a group in Tally. This allows for a more structured organization of companies within the group. To create a hierarchy of groups, follow these steps: 1. Open Tally and go to the Gateway of Tally. 2. Select "Company Info" and then click on "Create Company." 3. Enter the necessary details for the new company. 4. Under the "Company Creation" screen, select "Yes" for the option "Create a group of companies." 5. Choose the existing group under which you want to create a sub-group. 6. Enter the sub-group name and select the parent group from the list. 7. Finally, click on "Accept" to create a hierarchy of groups within a group in Tally.

Ans. To view consolidated financial reports for a group of companies in Tally, you can follow these steps: 1. Open Tally and go to the Gateway of Tally. 2. Select "Display" and then click on "Account Books." 3. Choose the desired financial report, such as "Profit & Loss Account" or "Balance Sheet." 4. In the report screen, press "Alt + F1" to enable the detailed mode. 5. Press "F2" or click on "Period" to select the desired financial period for the report. 6. Press "F12" or click on "Configure" to open the configuration settings. 7. Under the "Configuration" screen, enable the option "Include group companies." 8. Finally, click on "Accept" to view the consolidated financial report for the group of companies in Tally.