What it produces

A complete set of financial statements in the format you choose at New: Tally's NCE template V1.2 for a non-corporate entity, matched sheet for sheet and the ICAI's guidance note form for form; the ICAI's illustrative format for Limited Liability Partnerships; Schedule III Division I for a company that does not follow Ind AS, as amended in 2021, with the ageing schedules, the ratios and the additional regulatory information; Schedule III Division II for a company that follows Ind AS, which adds a Statement of Changes in Equity and a Cash Flow Statement to the four documents, other comprehensive income to the Statement of Profit and Loss, and twelve notes of disclosures Ind AS asks for beyond Schedule III; Schedule III Division III for a non-banking financial company following Ind AS, laid out by liquidity rather than by current and non-current; or the ICAI's Technical Guide format for a not-for-profit organisation, whose Balance Sheet is Sources and Application of Funds and whose Income and Expenditure Account carries a column per fund class.

What you get

Balance Sheet

The ICAI's prescribed form, every line printed whether or not there is a figure against it.

Statement of Profit and Loss

The prescribed ladder, I through XVII. A not-for-profit organisation gets an Income and Expenditure Account in its place, I through IX, with a column per fund class.

The notes

Each a prescribed table, in the format's own order and numbering — 28 under V1.2, 25 under the LLP format, 31 under Division I, 57 under Division II, 60 under Division III and 24 under the NPO format.

A Checks sheet

OptiVida's own addition — what does not tie, before you sign.

Three outputs, one model

The workspace on screen, the Excel workbook and the PDF are all rendered from a single model. There is no second implementation of a total anywhere in the product.

That is worth knowing because of what it rules out: the file cannot disagree with the screen you approved. A figure you checked in the workspace is the figure in the workbook, arrived at the same way.

Amounts are exact to the paisa

Whatever Tally reports is what every surface shows: the statements, the notes, the supporting sheets, the PDF and the workspace on screen, all to two decimals.

Nothing is rounded to whole rupees on the way. That matters for a figure like closing stock of 13,17,737.20 — the paisa are part of the amount, and a report that dropped them could not be reconciled against the books it was drawn from.

The one exception is the round-off setting you choose on Basic Info, which is a deliberate presentation choice and is off by default.

Who it is for

Any entity you prepare statutory accounts for. Proprietorships, partnerships, trusts and associations take the V1.2 format, governed by the ICAI's guidance note for non-corporate entities; LLPs take the ICAI's illustrative LLP format; a company takes the Division of Schedule III that applies to it — Division I where it does not follow Ind AS, Division II where it does, and Division III where it is a non-banking financial company following Ind AS; and a trust or society with no statutory format of its own takes the ICAI's Technical Guide format for not-for-profit organisations.

Choosing the Division is a judgement about the entity, not a presentation preference, and the format decides the whole vocabulary you classify into. Pick it at New; the Basic Info sheet then shows it, read-only.

Where the figures come from

The year's trial balance, read from Tally. Each ledger is placed in the statement hierarchy — that placement is the work — and everything below it is arithmetic.

What only you can supply

A trial balance says what a balance is. It cannot say how an asset moved during the year, how much of a loan is due beyond twelve months, or what a partner's share of the result should be.

Those cells are marked for you. Everything else is computed.