How tally group of companies data can come to 1 company (Consolidate Reports).
1. Creating a Group Company in TallyPrime:
TallyPrime has a built-in "Group Company" feature specifically designed for this purpose.1 This allows you to view consolidated financial reports (like Balance Sheet, Profit & Loss, Trial Balance, etc.) for multiple member companies as if they were a single entity, without actually merging the underlying transactional data.2
How it works:
No Data Merging: The individual company data remains separate. The group company only pulls and consolidates the reports for viewing. This means you can still drill down into individual company data from the group company reports.
Real-time Consolidation: When you access reports from the group company, Tally dynamically consolidates the data from the member companies.
Prerequisites:
All member companies should ideally have a uniform Chart of Accounts (i.e., the same names for masters/ledgers) for accurate consolidation.3
They should also have the same base currency symbol and formal name.4
Benefits:
Provides a holistic view of the group's financial health.5
Allows easy comparison of performance across member companies.
No impact on the individual transactions of the member companies.
Useful for monitoring overall business performance.6
Steps to create a Group Company:
Load Member Companies: Load all the individual companies you want to include in the group in TallyPrime.7
Create Group Company: Go to Gateway of Tally > Alt+K (Company) > Create.8 In the Company Creation screen, press Alt+R (Group Company).
Enter Details: Provide a name for your group company, address, and other relevant details.
Add Member Companies: In the "Member companies" field, select the individual companies you loaded earlier from the "List of Companies."9
Save: Accept the screen (Ctrl+A).
Once created, you can select the group company from the Gateway of Tally and view consolidated reports.
Always back up your data before performing any consolidation operations in Tally!