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Add-On to Generate
Financial Statements for
Non-Corporates as per ICAI Guidance

Powered by TallyPrime’s simplicity and a smart Excel template

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* Compatible from TallyPrime 6.0 and MS-Excel 2016 onwards

TallyPrime’s add-on to generate financial statements for non-corporates using excel-based template

ICAI has introduced new guidance for financial statements of non-corporate entities (NCE), covering the period beginning on or after April 1, 2024. To help businesses, CAs, and tax practitioners comply with new guidance effortlessly, TallyPrime introduces an Excel-based add-on solution—designed to simplify the process and save time.

Powered by XML export, this Excel-based add-on generates financials in the prescribed format—quickly and accurately. All the closing balances from TallyPrime are exported, auto-mapping up to 60-70% of the Trial Balance ledgers to the appropriate accounting classifications provided in the Guidance Note. Just complete the balance mapping and disclosures, and your financial statements are ready.

How to generate financial statement for
non-corporates in TallyPrime?

1
Enable Add-On
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2
Export data for financial statements of NCE's in XML format
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3
Import XML into Excel template & generate financials in the prescribed format
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01. How to enable add-on for generating financial statements for non-corporates?

1

Enter your serial number

2

Click on Check Eligibility

3

Enter the OTP received to your administrator e-mail Id

4

The add-on will be added automatically to your TallyPrime license

5

The MS-Excel template(zip file) will auto-download and save inside the TallyPrime folder

02. How to export XML from TallyPrime?

1

Press Alt+E (Exports) from Balance Sheet or P&L A/c or Trial Balance

2

Select 'Financial Statements for NCE' under Reports

3

Press ‘C’ or click ‘Configurations’ to change the file name, folder path, period etc. (Optional)

4

Press ‘E’ or click ‘Export’

5

The ‘XML’ file with all closing balances will be saved in the folder

03. How to import XML into Excel template to generate financials statements?

Import XML file
  • 1Open Excel template from your TallyPrime folder
  • 2On Basic info sheet, click 'Select XML to Import’
  • 3Browse and select the XML file exported from TallyPrime
  • 4Once the import is complete, a success message is displayed
  • 5Select the rounding off method, trade receivables and trade payables source and enter the signatory details manually
Mapping of imported data
  • 1Once the XML is imported, the closing balance of the current year and previous year is auto captured in the financial statements
  • 260-70 % of ledgers will be mapped automatically to the accounting classifications provided in the guidance note
  • 3The ledgers and other fields needing your attention (e.g., unmapped classification, values, etc.) are highlighted in yellow
Validate and print your financial statements
  • 1Complete the additional mapping as required
  • 2Include the necessary notes and disclosures
  • 3Review and print your financial statements

Disable financial statement for non-corporates add-on

  • 1Enter the TallyPrime Serial Number
  • 2Click Disable Add-on
  • 3Verify with OTP
  • 4Add-on will be disabled automatically

FAQ

OTP will be sent to the administrators e-mail id registered with TallyPrime serial number. In the case of a multi-site license, OTP will be sent to the site administrators e-mail id.

No, a valid TSS is not required to use the add-on. However, you will need to be on TallyPrime Release 6.0 and above to use the Add-on. Also, you will need MS-excel 2007 and above versions to use the MS-excel template.

You can click here to enable the add-on for your serial number.

Yes, you can disable the add-on. Click here to disable the add-on.

You need to upgrade to the latest release of TallyPrime to use the add-on.