Generate Corporate and Non-Corporate Financial Statements with the TallyPrime Add-on

QUICK ANSWER

The TallyPrime Financial Statements Add-on exports accounting data from TallyPrime into a smart Microsoft Excel template. It supports Schedule III Division I statements for eligible corporate entities and ICAI-guided statements for non-corporate entities.

You must enable the Add-on against your TallyPrime serial number, update the licence, export data from the Balance Sheet, Profit & Loss A/c, or Trial Balance, and then review ledger mappings and disclosures in Excel. The generated statements must still be reviewed by a qualified accountant or auditor before statutory use.

What Is the TallyPrime Financial Statements Add-on?

The Financial Statements Add-on is an official TallyPrime facility for preparing structured financial statements from accounting data maintained in TallyPrime.

It supports:

The Add-on exports financial information from TallyPrime into an Excel-based template. The template pre-maps many Trial Balance ledgers, provides input sheets for disclosures and generates the Balance Sheet, Statement of Profit and Loss, and related notes.

The Add-on reduces repetitive data entry, but it does not replace accounting review, statutory interpretation, audit procedures or management approval.

Official page link : https://tallysolutions.com/financial-statements-tally-prime/

Important Scope Limitation

The official documentation specifically identifies corporate support for Schedule III, Division I.

Do not assume that the same template supports:

• Schedule III Division II for companies following Indian Accounting Standards;
• Schedule III Division III for NBFCs following Indian Accounting Standards;
• industry-specific regulatory formats;
• consolidated financial statements; or
• every disclosure required by a particular entity.

Confirm the applicable reporting framework with the organisation’s chartered accountant, auditor or compliance team before relying on the generated statements.

Prerequisites

According to the current TallyHelp documentation, the following requirements apply:

• TallyPrime Release 7.1 or later.
• Microsoft Excel installed on Windows Server 2016 or a later supported Windows version.
• A valid TallyPrime licence.
• Access to the licence administrator’s registered email account for OTP verification.
• Full user rights to view the Balance Sheet, Profit & Loss A/c, or Trial Balance.
• The company’s country set to India.
• Current-year and previous-year periods that are on or after the company’s Books Beginning From date.
• Accurate and complete accounting data for the reporting periods.

The older workflow for TallyPrime 6.0 and 6.2 is documented separately by Tally Solutions. Use the instructions matching your installed release.

Recommended Preparation

Before starting:

1. Back up the TallyPrime company data.
2. Confirm that all relevant vouchers and year-end adjustments have been recorded.
3. Review unusual, negative and zero balances.
4. Reconcile banks, receivables, payables, inventory and statutory ledgers.
5. Confirm whether the previous year is stored in the same company or in a separate or split company.
6. Decide whether receivables and payables should be exported party-wise or bill-wise.
7. Protect the exported workbook because it may contain confidential financial and personal information.

Step 1: Enable the Add-on

The Financial Statements Add-on must be linked to the organisation’s TallyPrime serial number.

1. Open the official Tally Financial Statements Add-on webpage.
2. Enter the Tally serial number.
3. Select Enable Add-on.
4. Enter the OTP sent to the licence administrator’s registered email address.
5. Submit the request.
6. Confirm that the success message and confirmation email are received.

Only an authorised licence administrator should perform this process. Never share the administrator’s password or OTP with an unverified person.

Step 2: Update the TallyPrime Licence

After enabling the Add-on:

1. In TallyPrime, press F1 (Help).
2. Select Settings > License > Manage License.
3. Press F5 (Update).
4. Enter the authorised Tally.NET ID and password.
5. After the update, press F1 (Help) > Tally Plug-Ins.
6. Confirm that the Financial Statements Add-on appears in the list.

TallyPrime should automatically download the Excel templates as a ZIP file under:

<TallyPrime installation folder>\Appresources\Plugins

Do not download similarly named templates or TDL files from unverified third-party websites.

Step 3: Export Financial Data from TallyPrime

The Financial Statements export is available from:

• Balance Sheet;
• Profit & Loss A/c; and
• Trial Balance.

To export the data:

1. Open one of the supported reports.
2. Press Alt+E (Export).
3. Select Financial Statements.
4. Choose the applicable statement:
   • Schedule III for Division I, or
   • Financial Statements for NCE.
5. Press C to configure the export.
6. Review the reporting periods and other export settings.
7. Select a secure folder and enter the output filename.
8. Press E (Export).

Important Export Settings

Bill-wise export is unavailable when Enable Bill-wise entry is disabled in the company’s F11 features.

If an exported year falls before the company’s Books Beginning From date, the corresponding data can be blank.

Step 4: Complete the Basic Information

Open the exported workbook and review the Basic Information worksheet.

Fields highlighted in yellow require manual entry or selection. Depending on the selected template, these may include:

• rounding scale;
• property, plant and equipment and intangible-asset options;
• signatory details;
• share-capital information for corporate entities; and
• owner or partner names and profit-sharing details for non-corporate entities.

Use the workbook’s Index for navigation and read its ReadMe worksheet before changing the template.

Do not enable content or macros in an unexpected workbook. Verify that the file came from the official Add-on location before allowing active content.

Step 5: Review and Complete Ledger Mapping

The workbook imports current-year and previous-year information into worksheets covering:

• Trial Balance;
• Stock Summary;
• Sundry Debtors; and
• Sundry Creditors.

The mapping process uses three classification levels:

Most ledgers are automatically mapped according to their parent groups. Automatic mapping is only a starting point and must be reviewed.

1. Open the current-year Trial Balance worksheet.
2. Review every C1, C2 and C3 classification.
3. Assign appropriate classifications to unmapped ledgers.
4. Investigate any ledger whose accounting purpose does not match its parent group.
5. Open the previous-year Trial Balance worksheet.
6. Select Update Mapping from TB CY.
7. Review the copied mappings and correct any prior-year differences.
8. Complete the mapping in all required worksheets.

The template reports mapping as complete when no unmapped status remains, but this does not prove that every classification is correct.

Step 6: Classify Current and Non-Current Balances

Certain assets, liabilities and borrowings must be divided between current and non-current amounts.

By default, the template may place the closing balance in the current column. Enter the applicable non-current amount where required.

Perform this review separately for:

• the current year; and
• the previous year.

Classification depends on the applicable accounting framework and facts such as operating cycles, repayment terms and contractual rights. It should be approved by the responsible finance professional.

Step 7: Handle Provisional Adjustments Carefully

The template provides provisional-adjustment columns for items not yet entered in TallyPrime, such as audit adjustments or expenses identified during finalisation.

When using these columns:

1. Enter both debit and credit effects.
2. Confirm that total debits equal total credits.
3. Document the reason and approving person.
4. Record final adjustments in TallyPrime after approval.
5. Remove the corresponding provisional entries from the workbook.
6. Re-export or refresh the data as necessary.

Leaving final adjustments only in Excel creates a difference between the statutory statements and the accounting records.

Step 8: Update Input Sheets and Generate Notes

After completing the mapping:

1. Select Update Input Sheets.
2. Review each individual input sheet.
3. Enter the required information in yellow-highlighted cells.
4. Use Populate Data from TB when mapped Trial Balance values must be refreshed.
5. Add explanations through User Notes, where required.
6. Save the notes.
7. From the Index, select Generate All Notes.
8. Review the generated Balance Sheet, Statement of Profit and Loss, and notes.
9. Use Refresh if updated values are not displayed.

Warning About Manual Entries

According to TallyHelp, Update Input Sheets clears manually entered information in yellow-highlighted cells. Complete and verify the mapping before entering extensive disclosures, or preserve an approved backup copy of the workbook.

Step 9: Validate the Financial Statements

Before exporting the final statements, verify:

• assets equal liabilities and equity;
• opening or comparative figures agree with the previous approved statements;
• current-year figures reconcile with TallyPrime;
• profit or loss agrees with the final Trial Balance;
• receivables and payables agree with their supporting schedules;
• current and non-current classifications are correct;
• cash-flow information, if applicable, is accurate;
• all material ledgers are mapped;
• provisional adjustments are authorised and reconciled;
• signatory and entity details are correct;
• note references and totals agree with the primary statements; and
• all applicable disclosures have been included.

Keep a reviewed copy of the mapping and workbook as part of the financial-statement preparation record.

Step 10: Export or Print the Statements

The template provides options to:

• export the statements to PDF;
• print the statements; or
• export them to another Microsoft Excel file.

The final Excel export does not contain the formulas or linked worksheets used in the working template. Retain the original working workbook securely if an audit trail or later revision may be required.

What to Expect After Completion

After the process is completed successfully, you should have structured financial statements populated from TallyPrime data, including comparative figures when available.

Manual work is still required for:

• validating ledger classifications;
• entering entity-specific disclosures;
• splitting current and non-current balances;
• documenting accounting judgements;
• reviewing provisional adjustments; and
• obtaining management, accountant or auditor approval.

The output should be treated as a draft until the responsible finance professional confirms that it is complete and compliant.

Troubleshooting

The Financial Statements option does not appear

Check that:

• the Add-on was enabled against the correct serial number;
• OTP verification completed successfully;
• the TallyPrime licence was updated;
• the Add-on appears under F1 > Tally Plug-Ins;
• TallyPrime 7.1 or later is installed; and
• the current user has permission to access the supported reports.

The Excel template was not downloaded

Update the licence again and check:

<TallyPrime installation folder>\Appresources\Plugins

Also verify folder permissions, available disk space and endpoint-security alerts. Do not disable antivirus protection merely to obtain the template; investigate whether a file was blocked and verify its source.

Current-year or previous-year data is blank

Confirm that:

• the selected period is on or after Books Beginning From;
• the relevant company contains data for that period;
• the correct previous-year company is loaded;
• Previous Year data is in a separate Company is configured correctly; and
• the correct year-end dates were selected.

Bill-wise export is unavailable

Open the company features and verify that Enable Bill-wise entry is enabled in F11. Changing this setting can affect accounting workflows, so consult the accounts administrator before enabling it in a live company.

Ledgers remain unmapped

Open the applicable current-year or previous-year Trial Balance sheet and assign valid C2 and, where necessary, C3 classifications. Also review whether the ledger belongs under the correct parent group in TallyPrime.

Values do not update after mapping

Use Populate Data from TB, regenerate the relevant notes and select Refresh. Confirm that all required worksheets have been mapped.

Manual information disappeared

Running Update Input Sheets can clear manually entered values in yellow-highlighted cells. Restore the information from a controlled backup or re-enter it after completing the mapping.

Excel displays a security or protected-view warning

Confirm that the workbook originated from the official TallyPrime Add-on folder. Store it in a trusted organisational location and follow the organisation’s Microsoft Office security policy. Do not broadly lower Excel security settings.

Security and Administration Guidance

Financial-statement workbooks can contain commercially sensitive data. IT administrators should:

• restrict folder access to authorised finance users;
• use supported versions of TallyPrime, Windows and Microsoft Excel;
• maintain encrypted and tested backups;
• avoid sending workbooks through unsecured personal email accounts;
• apply appropriate data-loss-prevention controls;
• preserve final and working versions separately;
• verify third-party TDLs or customisations before use; and
• maintain an audit trail of mapping and manual adjustments.

FAQ

Frequently Asked Questions

Is the Financial Statements Add-on built into TallyPrime?

It is an official TallyPrime Add-on that must first be enabled against the TallyPrime serial number. The licence must then be updated before the financial-statement export becomes available.

Which corporate financial-statement format is supported?

The official documentation identifies Schedule III Division I for corporate entities. Confirm separately whether another division or specialised regulatory format applies to the company.

Can the Add-on prepare statements for partnerships and proprietorships?

It provides a Financial Statements for NCE template for non-corporate entities. Users must still review the entity type, accounting requirements and applicable ICAI guidance.

Does the Add-on eliminate manual financial-statement work?

No. It pre-populates data and maps many ledgers, but users must validate mappings, enter disclosures, classify balances and review the completed statements.

Can previous-year data come from a separate TallyPrime company?

Yes. During export, set Previous Year data is in a separate Company to Yes and select the loaded company containing the comparative data.

Why must auto-mapped ledgers still be reviewed?

Mapping is based largely on parent groups. A ledger can belong to a broad group while requiring a different statutory presentation or note classification.

Can adjustments be entered directly in the Excel template?

Provisional adjustments can be entered, provided debits and credits match. Once approved, final entries should be recorded in TallyPrime and removed from the provisional columns.

Can the completed statements be exported to PDF?

Yes. The template can print the statements or export them to PDF or Excel. The final Excel output does not retain the working template’s formulas and linked sheets.

Does the generated output guarantee statutory compliance?

No. Compliance depends on correct accounting records, classifications, disclosures and professional judgement. A qualified accountant or auditor should review the statements before statutory filing or approval.

FINAL RECOMMENDATION / CONCLUSION

Use the official TallyPrime Financial Statements Add-on when the entity falls within its documented corporate or non-corporate reporting scope. Enable it through the authorised licence account, export reconciled accounting data, review every mapping and disclosure, and retain a secure copy of both the working template and final output.

Do not treat automatic mapping or successful generation as proof of compliance. Final statements should be reconciled to TallyPrime and approved by the organisation’s authorised finance professional or statutory auditor.

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SOURCES

• TallyHelp: Prepare Financial Statements for Corporate and Non-Corporate Entities
• Tally Solutions: Financial Statements Plugin in TallyPrime