Tally Prime is a modern accounting and business management software widely used by small and medium-sized enterprises in India. One of its key features is the ability to manage financial data across different accounting periods without creating new company files each time. This flexibility helps users easily switch between previous years, the current year, and the upcoming financial period. In this article, we will explain how to change the current period in Tally Prime, why it is important, and what precautions to take before making the change.
Understanding the Current Period in Tally Prime
In Tally Prime, the Current Period refers to the financial year or date range for which you are currently entering or viewing transactions. For example, if your company follows the standard Indian financial year (1st April to 31st March), your current period may be 1-April-2025 to 31-March-2026.
However, businesses often need to change the current period when:
- The new financial year begins.
- You need to view or modify old financial data.
- You are migrating to a new period but want to use the same company data file.
- You are auditing or verifying transactions of a previous year.
Tally Prime allows you to change the current period anytime — without creating a new company or losing any data.
Step-by-Step: How to Change the Current Period in Tally Prime
Follow these simple steps:
- Open Tally Prime
- Launch Tally Prime from your desktop or start menu.
- Select the company whose period you want to change.
- Access the Gateway of Tally
- Once the company loads, you’ll see the Gateway of Tally screen showing important details like the current period, current date, and company name at the top.
- Use Shortcut Key
- Press Alt + F2 on your keyboard.
- A small window will appear asking for the From and To dates.
- Enter the New Period
- For example, if your new financial year starts on 1-April-2025 and ends on 31-March-2026, enter:
- From: 01-04-2025
- To: 31-03-2026
- Press Enter to save the new dates.
- Verify the Change
- Once updated, Tally Prime will display the new current period at the top of the screen.
- You can now record, view, or modify transactions within this new date range.
Important Notes Before Changing the Period
- No data loss: Changing the period does not delete any past data. You can always switch back to the previous financial year using the same method.
- Check opening balances: Ensure that your ledgers and inventory balances are carried forward correctly at the start of a new period.
- Backup before change: It’s a good habit to create a data backup before modifying any key settings.
- Avoid mid-year period overlap: If your accounting year doesn’t match the financial year, define clear start and end dates to avoid confusion in reports.
Why the Current Period Feature Matters
Changing the current period is useful for:
- Auditors and Accountants: To review or adjust old entries without restoring backups.
- Business Owners: To switch between multiple years and analyze trends using reports like Profit & Loss, Balance Sheet, or GST Summary.
- Account Executives: To prepare invoices or ledgers for the upcoming financial year without creating new company data.
This flexibility makes Tally Prime one of the most efficient tools for long-term accounting continuity.
Bonus Tip: Shortcut for Changing Current Date
If you only want to change the current working date (for a single voucher or day), press F2 instead of Alt + F2.
This lets you record a transaction for any particular date within the current period, without changing the overall financial range.
Conclusion
The Change Current Period feature in Tally Prime is simple yet powerful. It allows users to manage multiple financial years efficiently, view historical data, and prepare future entries—all without creating new companies or files. By pressing Alt + F2, entering your desired date range, and confirming, you can instantly update your working period. For best results, always verify balances and maintain a backup before switching to a new period.
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