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ICAI Guidance Note · 2024-25

Generate Financial Statements for Non-Corporate Entities in seconds.

Pull Trial Balance from Tally. Generate Balance Sheet, Statement of Profit & Loss, all 26 notes, and Significant Accounting Policies — in the exact ICAI format. For partnerships, sole proprietors, HUFs, AOPs, BOIs, societies and trusts.

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One TB → full FS package

Sharma Trading Co

Partnership · FY 2024-25

Trial Balance
58 rows
Classification
MSME
Profit (Curr)
₹ 13,97,000
Profit (Prev)
—
Output
xlsx · pdf
Build FS package
Output preview · Balance Sheet
I.  OWNERS' FUNDS AND LIABILITIES
   (1) Owners' Fund
       (a) Capital Account            5,000,000
           Current Account                    —
       (b) Reserves and surplus       3,550,000
   (2) Non-current liabilities
       (a) Long-term borrowings       2,500,000
   (3) Current liabilities
       (a) Short-term borrowings      1,800,000
       (b) Trade payables             1,450,000
       (c) Other current liabilities    345,000
       (d) Short-term provisions        400,000
       --------------------------------------
   TOTAL                            15,045,000

II. ASSETS
   (1) Non-current assets             9,250,000
   (2) Current assets                 5,795,000
       --------------------------------------
   TOTAL                            15,045,000
26
Notes auto-generated · BS + P&L
<90 s
From Trial Balance to PDF
9 types
NCE structures supported
What's inside

Everything Schedule III gave to companies — now for the rest of India.

Over 95% of Indian businesses are non-corporate. Until 2024 there was no standardised format. The ICAI Guidance Note fixed that. NCE Suite implements it, end to end.

Tally connector

Pull Trial Balance straight from Tally Prime / ERP9 over HTTP-XML. Works on the CA's machine or the client's.

Smart ledger mapping

Default rule pack maps 80% of typical Tally ledgers to GN line items. Per-entity overrides for the rest.

All 26 notes, generated

Owners' capital, reserves, borrowings, MSMED, PPE reconciliation, investments, receivables aging — every schedule.

Accounting policies

AS-1 through AS-29 paragraphs auto-drafted. MSME-aware exemption disclosure included.

MSME / Large logic

Council Aug-2024 thresholds applied automatically — turnover ≤ ₹250 cr, borrowings ≤ ₹50 cr, AS 18/AS 28 sub-test.

Excel + PDF output

Excel mirrors ICAI Appendix B sheet-for-sheet. PDF is print-ready A4 for the audit file.

Workflow

Five steps. End to end.

Designed around how Indian CAs actually work — TB out of Tally, review with the client, file with the audit.

  1. 01

    Connect Tally

    Install the Windows agent. Point it at any open Tally company.

  2. 02

    Pull Trial Balance

    One command pulls every ledger with closing balances over HTTP-XML.

  3. 03

    Review mapping

    Defaults catch most ledgers. Confirm or override the rest in the browser.

  4. 04

    Generate package

    Click Build. BS, P&L, Notes 3a-26, Significant Accounting Policies, audit trail.

  5. 05

    Download & file

    Excel for editing, PDF for the audit file. Sheet structure matches Appendix B.

Tally Connector

Your TB. Three commands.

A small Windows agent talks XML to Tally Prime / ERP9. Pulls every ledger with closing balances and pushes them to your NCE Suite tenant.

  • Works against any open Tally company
  • Date range scoped to the financial year
  • Sends ledger name, parent group, opening, closing, debit/credit
  • Pushes over HTTPS using your firm's API key
CA's terminal
$ nce-agent ping# Tally responded HTTP 200$ nce-agent push \ --company "Sharma Trading Co" \ --pan AAAFS1234B \ --fy-start 2024-04-01 --fy-end 2025-03-31 \ --api https://app.nce.in \ --api-key nce_…↳ fetched 58 ledger rows ↳ snapshot accepted: balanced · upload
Compliance

Accounting Standards baked in.

Significant Accounting Policies are auto-drafted per AS, with MSME exemptions applied per the August 2024 ICAI announcement.

  • AS 1 — Disclosure of Accounting Policies
  • AS 2 — Valuation of Inventories
  • AS 4 — Events Occurring After Balance Sheet Date
  • AS 9 — Revenue Recognition
  • AS 10 — Property, Plant and Equipment
  • AS 11 — Foreign Exchange Rates
  • AS 13 — Investments
  • AS 15 — Employee Benefits
  • AS 16 — Borrowing Costs
  • AS 22 — Taxes on Income
  • AS 26 — Intangible Assets
  • AS 29 — Provisions, Contingent Liabilities
"

We were spending six hours per partnership client on financial statements every year. With NCE Suite the same package builds in under two minutes — every note, every policy, in the new ICAI format. It's the first tool that actually understands the Guidance Note.

R
CA Ramesh Joshi
Partner, Joshi & Associates · Pune
By the numbers
  • 6 hrs → 90 s
    Per FS package, per client
  • 100%
    ICAI Guidance Note alignment
  • 9
    Non-Corporate structures supported
Per CA firm, not per client?
Correct. Practice plan = unlimited clients, unlimited FYs.
Tally version supported?
Tally Prime and Tally ERP9, via the official HTTP-XML interface.
Where does the data live?
On your tenant. Encrypted at rest. On-prem option for Firm plan.
See full pricing

Stop typing the same Balance Sheet, again.

Onboard your first client in under five minutes.

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NCE Suite

Built for Indian CAs. Generates Financial Statements for Non-Corporate Entities in the exact ICAI Guidance Note format.

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  • Tally connector
  • Pricing
Compliance
  • ICAI Guidance Note
  • MSME thresholds (2024)
  • AS 1 — AS 29
  • MSMED disclosure
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© 2026 NCE Suite. Made in India.v0.1 · ICAI GN 2024-25