Business information may change over time. Tally Prime allows you to modify company details such as company name, address, GST information, financial year, contact details, and security settings without creating a new company.
Lesson Objective:
Learn how to alter company information safely and correctly.
1. What is Company Alteration?
Company Alteration means modifying the existing information of a company after it has already been created.
Examples:
Changing Company Name
Updating Address
Changing Mobile Number
Updating Email Address
Changing GST Details
2. Why Do We Alter Company Information?
Situation
Example
Business Shifted
New Office Address
Contact Changed
New Mobile Number
Email Updated
New Official Email
GST Updated
GST Registration Modified
Business Name Changed
ABC Traders → ABC Enterprises
3. Steps to Alter a Company
Open Tally Prime.
Press Alt + K.
Select Alter Company.
Select the required company.
Edit the required information.
Press Ctrl + A to save.
Shortcut:
Alt + K → Alter Company
4. Information That Can Be Changed
Field
Can be Changed?
Company Name
✔ Yes
Address
✔ Yes
Mobile Number
✔ Yes
Email
✔ Yes
GST Details
✔ Yes
Currency
✔ Yes
Security Settings
✔ Yes
5. Example of Company Alteration
Before
After
ABC Traders
ABC Enterprises
Old Mobile
New Mobile
Old Address
New Address
Old Email
info@abc.com
Always verify the updated information before saving the company.
6. Changing Financial Year & Books Beginning
Sometimes a business may need to change the Books Beginning Date or verify the Financial Year after company creation.
Field
Description
Financial Year Begins
Starting date of the accounting year.
Books Beginning From
Date from which accounting entries begin.
If accounting entries already exist, changing these dates may affect reports. Always consult your accountant before making changes.
7. Updating GST Information
If your business receives a new GST registration or any GST information changes, you can update it through Company Alteration.
Field
Example
Enable GST
Yes
GST Registration Type
Regular
GSTIN
22AAAAA0000A1Z5
State
Bihar
Always verify the GSTIN before saving. An incorrect GST number may create tax reporting issues.
8. Updating Security Settings
You can modify security options to improve data protection.
Change Administrator Password.
Add New Users.
Assign User Roles.
Limit Access to Reports.
Control Voucher Entry Permissions.
Use different passwords for different users instead of sharing one administrator password.
9. Best Practices Before Altering Company
Take a complete company backup.
Verify company information before editing.
Update GST details carefully.
Check Financial Year settings.
Save changes only after verification.
Inform other users before making major changes.
Creating a backup before altering company information is considered one of the best accounting practices.
10. Save & Verify Changes
After making the required changes, verify every detail carefully before saving.
Review all modified fields.
Press Ctrl + A.
Accept the changes.
Reopen the company.
Check reports and invoices.
Shortcut:
Press Ctrl + A to save the updated company information.
Always verify that reports, GST details and company information are displaying correctly after alteration.
11. Common Mistakes During Company Alteration
Changing company information without proper verification can create accounting and GST problems.
Mistake
Correct Practice
Wrong Company Name
Verify legal business name before saving.
Incorrect GSTIN
Cross-check GST number carefully.
Wrong Financial Year
Confirm accounting period.
Incorrect State
Select the correct GST State.
No Backup
Always take a backup first.
Weak Password
Use a strong administrator password.
A small mistake during company alteration can affect invoices, GST returns and financial reports.
12. Importance of Company Backup
Before making important changes, always create a backup of your company.
Protects company data.
Helps recover deleted information.
Useful before GST updates.
Safe before changing Financial Year.
Required before major company modifications.
Professional accountants always create a backup before altering company information.
13. Practical Example
Example:
Suppose Soopro Pathshala has shifted to a new office.
Old Information
New Information
Satyendra Nagar Road No.1
MG Road, Aurangabad
7070175088
New Mobile Number
Old Email
info@soopropathshala.com
Instead of creating a new company, simply alter the existing company information.
This keeps all previous accounting records, vouchers and reports safe.
14. Practical Exercise & Interview Questions
Practical Exercise
Create a sample company.
Change its address.
Update the mobile number.
Modify the email address.
Save the changes using Ctrl + A.
Verify the updated company information.
Interview Questions
What is Company Alteration?
Why is Company Alteration required?
Which shortcut opens Company menu?
Which shortcut saves company information?
Why should we take a backup before alteration?
Can GST information be changed later?
Can company address be modified?
15. Lesson Summary
Learned the purpose of Company Alteration.
Modified company information safely.
Updated GST and security details.
Learned best practices.
Understood common mistakes.
Learned the importance of backups.
Completed a practical exercise.
Congratulations!
You can now confidently modify company information in Tally Prime whenever business details change.
🧠 Quick Quiz
What should you do before making major changes to company information?