How to Create a Group Company in TallyPrime: 3 Easy Steps

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Here’s a detailed guide on creating a group company in TallyPrime:

Table of Contents

1. Prerequisites for Creating a Group Company:

Ensure all member companies (sister concerns or branches) you want to include in the group have already been created in TallyPrime.
Verify that the member companies have:
- Same Base Currency Symbol: This ensures consistent financial reporting across the group. You can check this in the Company Creation/Alteration screen for each member company.
- Uniform Books/Charts of Accounts: Corresponding ledgers (accounts) should have the same names across all member companies for accurate consolidation of accounts and Management Information System (MIS) reports.

Press Alt + F3 (Select Company) to open the “Select Company” screen.
Load the individual member companies you want to include in the group company. You can select multiple companies using the Shift or Ctrl key while clicking.

Press Alt + K (Company) to access the “Company” menu.
Select Create.
In the “Company Creation” screen, press Alt + R (Group Company) to switch to the Group Company creation mode.

In the “Company Creation” screen, fill in the following details for the group company:
- Name: Enter the desired name for your group company.
- Mailing Name: Specify the mailing address for the group company (optional).
You can leave other fields like Address and Opening Balance blank for now.

In the “Member Companies” field, a list of loaded companies will be displayed.
Select the checkboxes next to all the member companies you want to include in the group.

Press Ctrl + A or click the “Accept” button to save and create the group company.

You can access and manage the group company like any other company in TallyPrime. It will not contain any initial transactions on its own.
To consolidate financial data and generate group reports, you’ll need to utilize TallyPrime’s consolidation features.

View the combined financial performance of all member companies under one umbrella, providing a holistic view of the group’s financial health.

Generate reports that analyze the group’s overall performance across various aspects, aiding strategic decision-making.

Manage and monitor the financial activities of all member companies from a single platform.