How to Change Financial Year in TallyPrime (FY 2026-27)
A complete step-by-step guide to changing the financial year or current period in TallyPrime, starting FY 2026-27, carrying forward balances and understanding when you may need to split company data.
To change the financial year in TallyPrime, open your company from Gateway of Tally and press Alt + F2. In the Change Period screen, enter the required From and To dates.
For FY 2026-27, enter 01-04-2026 as the From date and 31-03-2027 as the To date. Your existing balances continue into the new period.
What is the Financial Year in TallyPrime?
A financial year is the accounting period for which a business maintains and reports its books of accounts. In India, the financial year normally begins on 1 April and ends on 31 March of the following year.
Therefore, FY 2026-27 covers the period from 1 April 2026 to 31 March 2027.
When you want to start recording transactions for the new financial year in the same TallyPrime company, the simplest method is normally to change the Current Period.
How to Change Financial Year in TallyPrime
Follow these steps if you want to start working in FY 2026-27 while continuing with your existing TallyPrime company data.
Take a complete backup of your Tally company data before making year-end changes.
Take a Backup of Your Tally Data
Create a fresh backup of the company before proceeding. This gives you a recovery point in case you need to refer back to the original data.
Open the Required Company
Start TallyPrime and open the company in which you want to begin recording transactions for the new financial year.
Press Alt + F2 from Gateway of Tally
From Gateway of Tally, press Alt + F2. The Change Period window will open.
Enter the New Financial Year Dates
For FY 2026-27, enter: From: 01-04-2026 and To: 31-03-2027.
Accept the Period
Confirm the dates. The Current Period displayed in TallyPrime will now reflect the new financial year and you can start recording transactions for that period.
Watch: How to Change Financial Year in TallyPrime
Follow this video tutorial to learn how to change the current accounting period in TallyPrime using the Alt + F2 shortcut.
Financial Year vs Current Period in TallyPrime
These two terms are often used interchangeably, but they serve different purposes in TallyPrime.
Change Current Period
This is normally what you need when moving from one financial year to another while continuing with the same company.
- Use Alt + F2
- Select a new From and To date
- Continue in the same company
- Previous balances remain available
Company Financial Year Settings
Company-level settings define how the company and books were originally configured. They should not be changed merely because you want to start entering transactions for a new year.
- Part of company configuration
- Different from viewing a new period
- Alter only when there is a genuine accounting requirement
If your goal is simply to start entering vouchers for the new financial year, use Alt + F2 → Change Period rather than unnecessarily altering company configuration.
Do I Need to Create a New Company Every Financial Year?
No, not necessarily. TallyPrime allows you to continue working in the same company across financial years simply by changing the Current Period.
Depending on your business and data-management requirements, you generally have three broad options when beginning a new financial year:
What Happens to Previous Year's Balances?
When you change the Current Period and continue using the same TallyPrime company, balances from the earlier year continue to be available for the new period.
Your existing masters, ledgers and company configuration remain available when you continue with the same company.
Before beginning regular work for the new year, however, businesses should review year-end adjustments, outstanding receivables and payables, stock values, taxes and voucher numbering as applicable.
Should You Split Tally Data Every Financial Year?
Splitting company data is not required merely to start a new financial year. You can continue using the same company.
However, splitting may be considered when your company contains a large volume of transactions, when you prefer separate data sets for different years, or when operational and data-management requirements make smaller company data useful.
Finalise important accounts, take a backup, verify company data and resolve any errors before proceeding with a data split.
We have prepared a separate detailed guide specifically for this process.
How to Change Financial Year in Tally.ERP 9
If you are still referring to an older Tally.ERP 9 installation, the basic concept is similar.
Take a Data Backup
Make a complete backup of the company before proceeding.
Open the Company
Open the company for which you want to change the working period.
Select F2: Period
From Gateway of Tally, select F2: Period and enter the required From and To dates.
Accept the New Period
Save the dates and verify that the required Current Period is displayed in Tally.
TallyPrime is the newer generation of the Tally product. Menu names, screens and functionality can differ from older Tally.ERP 9 versions.
Financial Year in TallyPrime – FAQs
How do I change the financial year in TallyPrime?
Open the company, go to Gateway of Tally and press Alt + F2. Enter the required From and To dates in the Change Period screen and accept the period.
What is the shortcut key for changing the financial year in TallyPrime?
The commonly used shortcut is Alt + F2, which opens the Change Period screen for the company.
How do I start FY 2026-27 in TallyPrime?
Press Alt + F2 and set the period from 01-04-2026 to 31-03-2027. You can then start recording transactions for FY 2026-27.
Do I need to create a new Tally company for every financial year?
No. You can continue using the same TallyPrime company across multiple financial years by changing the Current Period. Creating or splitting a company is optional and depends on your accounting and data-management requirements.
Will my opening balances carry forward to the new financial year?
When you continue using the same company and change the Current Period, balances from the previous period remain available in the company for the new financial year.
Should I split company data every year?
It is not compulsory. Splitting can be useful where company data has become large or where separate financial-year data sets are preferred. Take a backup and verify data before performing a split.
Should I take a backup before changing the financial year?
Yes. Maintaining a current backup before year-end or major data-management activity is strongly recommended.
What is the difference between F2 and Alt + F2 in TallyPrime?
F2 is commonly used to change a date or period depending on the screen you are working on, whereas Alt + F2 is used to change the period of the company from Gateway of Tally.
Related TallyPrime Guides
These guides can help you manage your Tally data safely when moving into a new financial year.
Need Help With Your Tally Data?
Anita International helps businesses with TallyPrime, data management, customization, and Tally on Cloud solutions.
Anita International · 5 Star Tally Certified Partner
This guide is intended for general product education. Features and menu options may vary depending on your TallyPrime release and configuration.