Question

What is the maximum and minimum financial period maintained for a company in tally

Answer 1

➡Usually financial year of a company consists of 12 months. However, in some cases it may not be so. In case of newly incorporated company, financial statements have to be prepared from the date of incorporation of the company till the year-end date of the financial year which may not be of 12 months.

Answer 2

Answer:

Split Company Data

When you split the data, the original data is retained, and two new companies with unique names and dates are created. You can rename the split company as required, and save the original data in another location.

Before splitting the data:

• Ensure the analysis or audits of the books of the previous financial year are complete.

• Adjust all the unadjusted forex gains/loss displayed on the balance sheet for multi-currency transactions.
• Check the profit and loss account or inventory statements for pending purchase and sales bills, and adjust them to the respective accounts.