During account keeping, a financial year is a very critical feature. The books are managed keeping in mind the year we are in. In India, the financial year starts from 1st April of a year and ends on 31st March of next year. E.g. FY 2019-2020 refers to start date of 01.04.2019 and end of 31.03.2020.
Hence, in Tally software, we need to change the financial year where the working has to take place. The process to make the change is very easy. Kindly follow the basics steps to make the due changes.
Step 1. Open Tally
Step 2. Open the Company , for which the financial year changes need to be made.
Step 3. On Gateway of Tally, Select the “F2 Period” encircled in red in the screenshot.
Step 4. The new pop up will open, which gives the option to edit the dates. Kindly enter the new dates. Save the changes.
Step 5. The new dates are reflecting in the system. In top left corner, under current period, the FY 2019-20 is reflecting.
Step 6. The financial year has been changed, To check, kindly open any accounting voucher. The numbering has been reset to 1. All the vouchers will start from 1 now. Hence, the financial year change has been successful .