A set of account books represents a ‘company’ in Tally.ERP 9. Therefore, if you decide to maintain your personal accounts you would create a ‘company’. Many businesses do have more than one legal entity – and so will require multi-company support. Since each company is a distinct data base, building technical support for this is not difficult.
However, with multiple companies, several needs often arise beyond the mere facility to record transactions that need to be addressed,.
Principally, you would like to look at consolidated reports since these are often more meaningful to you than statutory reports of each company individually. You can therefore ‘group’ companies and have the reporting ability as if this were a ‘company’. You could also ‘group’ these on demand or as required. So Partner A, could group companies in which he is a partner (say Companies P, Q & R) and Partner B could have a group with Companies Q, R & Y.
With multiple companies, you would probably need to compare them to see relative figures. In Tally.ERP 9, while seeing a report for Company P, you could pull up another column alongside that shows figures from Company Q (and any more companies). You can now continue to drill down the report and continue to see these comparisons.
Quiet often with multiple companies, the need arises to create the same ledgers & post transactions to more than one company. This can be accomplished with the click of a few keys – you save immense time by not having to re-enter data and avoid data entry errors.
In special circumstances, where there are needs like a Purchase Order entry becoming a Sales Order in another company, our Service Partners will be able to work with you, understand specific requirements and build a solution around the Data Synchronisation capability.
Security: With multiple companies, possibly including personal accounts, you may need to control who gets access to which companies, and to do what. You can set up users, grant or deny access – and these are defined for each company.
Remote Access: You choose to specify which company is accessible remotely. You choose which remote users have access; you decide what access a remote user gets.
Central User Management: Users come and go. You might also have a password policy requiring users to change passwords every few weeks. You can take advantage of the ease of central user and password management that Tally.NET identities carry – and even remotely manage these while not in office.