Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

BRANCH ACCOUNTING IN TALLY

deepak (CWA STUDENT AND SERVICE) (200 Points)

30 April 2010

Dear All,

my company have three branches and all the branches work sepratally, invoicing sepratally, and we use tally for accounting purpose, now in tally we opened three companies unit-I,II,III.

now i want to know that i can use only one company in tally regarding accounting of the all branches, if yes please tell me how.

thanks

Deepak Mishra

Reply
Follow
Share

22 Replies

MEETU KASHYAP (Job) (57 Points)
Replied 30 April 2010

Deepak,

Its advisable to maintain separate books of accounts in TALLY for all three branches. But if you want to maintain one company regarding accounting of all branches, then be sure that transactions are entered correctly in respective company/ branch and inter-branch accounts are re-conciled.

Upgrade to CAclubindia Pro. Subscribe Now!

Kalpesh (Accountts & Income Tax) (338 Points)
Replied 30 April 2010

AGREE WITH MEETU.. LATER AFTER FINAL ACCOUNT YOU CAN MERGE DATA OF 3 DIFFERENT BRANCH IN MAIN HOLDING COMPANY WITH IMPORT OPTION OF TALLY 9 ERP.

Mohan (Accounts Mgr) (209 Points)
Replied 01 May 2010

ya, it is advicable to open 3 separate cos and create a group company for these three. In the books of Unit 1, you shld create Unit 2 and Unit 3 ledgers under the group of Branches / Division and in Unit 2 company u shld create Unit I and Unit 3, in the same manner Unit 3 also. At any point of time in the consolidation company the Branches / Division head is always equal or Zero balance. Then you can know unit wise income and expenditure and liabilities and assets and inter-branch transactions easily. gud luck.

1 Like

(Guest)

Originally posted by : Mohan
	ya, it is advicable to open 3 separate cos and create a group company for these three. In the books of Unit 1, you shld create Unit 2 and Unit 3 ledgers under the group of Branches / Division and in Unit 2 company u shld create Unit I and Unit 3, in the same manner Unit 3 also. At any point of time in the consolidation company the Branches / Division head is always equal or Zero balance. Then you can know unit wise income and expenditure and liabilities and assets and inter-branch transactions easily. gud luck.

agree with mohan

Shrilakshmi Raj (CA) (81 Points)
Replied 10 June 2010

Yes it is advisable to open 3 separate companies for each branch.

If books are kept separately, Inter - branch reconciliation can be done easily.

Upgrade to CAclubindia Pro. Subscribe Now!

(Guest)

Originally posted by : Shrilakshmi Raj
	Yes it is advisable to open 3 separate companies for each branch. If books are kept separately, Inter - branch reconciliation can be done easily.

Amit S P (Executive) (64 Points)
Replied 14 January 2011

Agree with Mr Mohan. Ideal Option

Rajesh Gupta (accountant) (47 Points)
Replied 08 February 2012

PL. LET ME KNOW PROCEDURE TO CREATE GROUP COMPANY

Exshail (Software) (1576 Points)
Replied 09 February 2012

Dear All,

my company have three branches and all the branches work sepratally, invoicing sepratally, and we use tally for accounting purpose, now in tally we opened three companies unit-I,II,III.

now i want to know that i can use only one company in tally regarding accounting of the all branches, if yes please tell me how.

thanks

Deepak Mishra

------------------------------------------------------------------------------------------------------------------------------------------------

You have to create\customize all type of voucher series for your data entry for your 3 branch, but I think, you can't get seprate trial balance branchwise. BTW JFY now Busy (another Accounting software similier to Tally) introduced Branch Concept in theire latest version Busy 3.9 with user friendly customization. So Tally should also applied this concept in single Company.