Starting a set of statements

There is no form to fill in before you begin. Choosing Financial Statements (NCE), (LLP), (Company — Division I), (Company — Ind AS, Division II), (NBFC — Ind AS, Division III) or (NPO) at New is starting.

From a client

The usual route:

Clients→pick one→Statements

The tab lists any sets of statements already prepared for that client, by financial year, with their status and type. New statements lists the types; each opens a workspace for a new year of that type.

From the Statements page

Statements lists sets across all your clients. New statements, at the foot of the Format guide beside the list (below it on a narrower screen), offers the six types; pick one, then the client, and the workspace opens. New at the top of every page offers the same six.

Same destination either way.

Why there is no new-statements form

A form would ask three things: which client, which type of statements, and which year. The first two are settled by where you started and what you clicked at New; the year you choose inside the workspace when you fetch, where you can also see which years Tally actually holds.

Asking twice would only create a way for the answers to disagree.

Non-Corporate Entities (NCE)

Tally's V1.2 template, for proprietorships, partnerships, trusts and the like.

Limited Liability Partnership (LLP)

The ICAI's illustrative format for LLPs.

Company (Schedule III Division I)

The statutory form for a company that does not follow Ind AS, under Schedule III to the Companies Act, 2013 as amended in 2021: share capital and reserves on the face, the ageing schedules, the ratios and the additional regulatory information.

Company (Schedule III Division II — Ind AS)

The statutory form for a company that follows Ind AS: assets first on the face, a Statement of Profit and Loss carrying other comprehensive income, a Statement of Changes in Equity and a Cash Flow Statement as documents of their own, 57 notes, and the disclosures Ind AS asks for beyond Schedule III — fair values, expected credit losses, leases, the defined benefit obligation, the tax reconciliation, related parties, segments.

NBFC (Schedule III Division III — Ind AS)

The statutory form for a non-banking financial company that follows Ind AS. It is laid out by liquidity rather than by current and non-current: every asset and liability is financial or non-financial, nothing is split into long-term and short-term, and the Balance Sheet runs assets, then liabilities, then equity. Four borrowing lines stand where the other formats print one — debt securities, other borrowings, deposits and subordinated liabilities. A Statement of Changes in Equity and a Cash Flow Statement print as documents of their own, 60 notes follow, and nine of them analyse a line across the Ind AS 109 measurement categories.

Not-for-Profit Organisation (ICAI)

The ICAI's Technical Guide on Accounting for Not-for-Profit Organisations, Revised 2023 — for a trust or society with no statutory format of its own. The Balance Sheet is Sources and Application of Funds in a single column, and in place of a Statement of Profit and Loss there is an Income and Expenditure Account with a column per fund class: unrestricted, restricted, and their total. Funds stand where capital and reserves stand under the other formats, and 24 notes follow. Not for a section 8 company, which files under Schedule III, and not for a trust whose own statute prescribes a format.

When the report is created

The first time the workspace saves. Until then nothing is stored and nothing is listed.

That means an exploratory look costs nothing — open a workspace, fetch a year to see what comes across, and walk away if it is not what you wanted.

The financial year list

The years offered are the ones this company's books actually hold, read from Tally — not a fixed window of recent years. A client whose books begin in 2021-22 can be reported on from 2021-22, and a year the books do not cover is not offered at all.

OptiVida lands on the newest year that has finished, which is almost always the one you want. The year still running is in the list if you need it.

Linking the client to its Tally company

A client fetches from one Tally company, and OptiVida checks it is that company before every fetch — exactly as Tax Audit and CMA do. The first time you open the Fetch screen for a client that is not linked yet, a card offers to link the client to the company open in Tally. Linking records the company's name and Tally's own id for it, so a second company that merely shares the name is never mistaken for it.

Until the client is linked the Fetch button stays off, and if a different company is open in Tally the screen says so and asks you to switch. The years list follows the link: once the client is linked, the picker lists the years that company's books hold.

Finding an existing set

A client's Statements tab

Everything for that client, by year.

The Statements page

Everything across all clients.

Both show the financial year and the status, so a set you left half-finished is easy to spot.