New Financial Year 2027-28 in TallyPrime

The useful decision is which company your team will work in on 1 April 2027, how it will handle late March adjustments and what evidence will show that the transition is complete. Choose that approach before changing data. This guide covers the existing-company route, a separate company with imported balances, and a verified data split, with checks for each.

Checked against current TallyHelp on 2 November 2026. TallyPrime 7.2, released on 12 October 2026, is the current release at this check. The split options below apply to TallyPrime 6.0 and later; older releases have different screens. Review the release upgrade and backup guide separately if you need to update. A financial-year change is not itself a software upgrade.

Plan your year-end support brief

Choose: change period, new company or split data

There is no universal file-size threshold that makes splitting mandatory. Consider actual performance, audit status and reporting needs. If substantial old-year edits remain, continuing in the same company avoids having to reconcile separate working copies. Agree the approach with your accountant and the people who post transactions.

Prepare before the change

1. Identify the working data. Record the company name, data path, release, users and integrations. Arrange a time when people will stop entering vouchers during any backup, import or split.
2. Make a recoverable backup. Follow the official backup and restore instructions. Keep an untouched copy outside the working data folder. Restore a copy into a separate, empty test location and confirm that the company opens.
3. Capture a comparison pack. Save dated Balance Sheet, Profit & Loss, ledger balances, receivables/payables and Stock Summary reports. Note the report period, filters and valuation settings so later comparisons use the same basis.
4. List pending work. Review purchase and sales bills, forex adjustments where applicable, bank reconciliation and GST return reconciliation. Your accountant should decide the accounting entries and filing treatment. Do not assume a period change completes compliance or that every year-end difference needs a journal.
5. Keep audit history accessible. Confirm the appropriate Edit Log setup and record-retention requirements with your accountant. Do not disable logging or delete the old company as a shortcut to a clean year.

Use the existing bank reconciliation workflow for bank checks. Filing dates, eligibility and statutory requirements can change before April 2027; recheck the relevant authority and your accountant's advice near the actual transition.

Route 1: continue in the same company

1. Open the correct company. At Gateway of Tally, press Alt+F2 (Period).
2. Enter From: 1-4-2027 and To: 31-3-2028, then accept the change after checking your backup.
3. Confirm CURRENT PERIOD and CURRENT DATE on the Gateway. Check the voucher date before the first April entry.
4. Review the numbering setup below, then verify the carried-forward ledger, bill and stock information.

Balances carry forward automatically. The company's original Financial year beginning from and Books beginning from dates remain unchanged; do not alter them to 1 April 2027 merely to change the reporting period. You can use Alt+F2 to view a previous year when reviewing historical reports.

Route 2: create a separate company with opening balances

This is a controlled transfer, not an automatic continuation of every detail. Test the process and agree the required masters, ledger balances, stock details and outstanding bill information before starting live work.

1. In the old company, use Alt+G (Go To) > Chart of Accounts > Ledgers and Alt+E (Export) > Current. Configure the export for the data and closing balances required. Tally's year-end guide describes Excel and XML routes.
2. Use Alt+K (Company) > Create to create the destination company. For a company starting on 1 April 2027, review the financial-year and books-beginning dates, business details and data path before saving.
3. In the destination company, use Alt+O (Import) > Masters. Select the matching file format and review how existing masters will be handled. Import the required masters and balances using the appropriate settings.
4. Complete the bill-wise opening details. Do not assume ledger totals prove that bill references transferred. For this opening-balance route, enable Bill-wise entry in F11 and Maintain balances bill-by-bill in the party ledger as required. In Alt+G (Go To) > Alter Master > Ledger, open the party ledger and press Enter on Opening Balance to review its Bill-wise Breakup. Check or complete the bill references, dates and outstanding amounts against the old company's bill list, then save. If the import already populated these allocations, verify them rather than entering them again. Do not also import the old transactions that created the same opening balances: choose one transfer path for each balance to avoid duplication. See TallyHelp's opening bill-detail checks.
5. Check the actual ledgers, stock and outstanding bills against the comparison pack. A successful import message is not proof that every required opening detail was transferred.

Keep the old company available for historical reports. If an audited closing figure changes later, record and reconcile the corresponding opening adjustment with your accountant; do not import the same balances repeatedly without checking how existing masters are treated.

Route 3: verify and split company data

Use this after the previous year's analysis and audit are complete and the data is ready. TallyPrime retains the original company and creates one or two child companies according to your selected option. Work on a restored test copy first and retain the pre-split backup.

1. Press Alt+Y (Data) > Split > Verify Data. Select the company and resolve the reported errors before continuing.
2. Press Alt+Y (Data) > Split > Split Data. Choose S (Split) if verification is already complete.
3. Confirm Split from: 1-4-2027. Under Split Company, choose From Split Date, Before Split Date or Into Two Companies to match the intended files.
4. Open each required child company and run the checks below. Record its name and path. Tell all users which company is the live posting destination and which is the archive.

If synchronisation is configured, review the carried-forward rules and company names with the person managing it. The official split-data guide explains the options and prerequisites. Do not delete the original while you are validating the result.

Restart voucher numbering deliberately

Review each relevant voucher type and each branch or numbering series. Use Alt+G (Go To) > Alter Master > Voucher Type, select the type, review Method of Voucher Numbering and enable the applicable additional numbering details. Set the restart Applicable From date to 1-4-2027, the starting number, periodicity, prefix and suffix as required.

If you use multiple numbering series, review each series rather than changing only the default Sales type. Check duplicate-number prevention and the printed invoice number. For example, INV/27-28/0001 can express a year-specific series; agree your actual format and applicable requirements with your accountant. The invoice-series guide covers the workflow; use your FY 2027-28 dates.

Test safely: review voucher entry and an invoice print preview on an isolated test copy. Do not generate a live IRN or e-Way Bill just to test the setup. Check the applicable portal validations before issuing a genuine transaction.

Prove the transition is ready

Use the same report basis for comparisons. An opening report on 1 April and a closing Trial Balance on 31 March need not have identical line items: income and expense balances and later adjustments can change the presentation. Investigate differences instead of forcing totals to match.

If a check fails, pause posting to the affected copy. Compare company paths, report periods, filters and later audit entries first. Keep the original and backup available. Before reverting after live entries have started, list every transaction entered after the change and agree how it will be reconciled; restoring a backup alone would omit that work.

Get help with a specific year-end task

Mark IT can help with TallyPrime setup and ongoing Tally support and AMC. Keep this brief ready for the callback or phone conversation:

• Your TallyPrime release, number of companies and users.
• Whether you will continue, create a new company or split, and whether the prior-year audit is complete.
• The issue: backup restore, numbering, opening balances, outstanding bills, stock or an integration.
• Your intended transition date and who will verify the accounting figures.

The callback form collects contact details; share this brief during the callback or by phone. Do not upload company data, passwords or customer records through the form. Accounting and statutory sign-off remain with your accountant.

Request a year-end setup callback or call 022 6199 2222.

Official sources and verification date

Last verified: 2 November 2026. Recheck these instructions on your installed release before the April 2027 transition.

• TallyHelp: move to the next financial year
• TallyHelp: verify and split company data
• TallyHelp: backup and restore
• TallyHelp: Release 7.2 notes