Non-Corporate Financial Statements Excel – FY 2025-26 (Partnership Firms, LLPs & Proprietorships)
The new ICAI format, as a working file: paste the trial balance, tag each ledger once, pick the entity type – and the Balance Sheet with Owners’ Fund, the Statement of Profit and Loss with partners’ interest and remuneration as appropriations, the partner-wise capital accounts note, block-wise Income-tax depreciation and every other note build themselves.
Download the free workbook (Excel)The same engine as a login-based cloud app: import the Tally trial balance, every ledger auto-maps to the non-corporate heads, the capital accounts and depreciation modules fill the notes, checks pass, and the set prints with partner signature blocks – then rolls into next year in one click. Up to 5 entities free.
Open the free Balance Sheet AppThe ICAI non-corporate format is now mandatory – in phases
ICAI issued Guidance Notes on Financial Statements of Non-Corporate Entities and of LLPs (2023), prescribing a uniform vertical format – Owners’ Fund on the Balance Sheet, a Statement of Profit and Loss with partners’ remuneration shown as an appropriation, and a partner-wise capital account reconciliation. The ICAI Council has made the format mandatory in a phased manner: entities with turnover above ₹5 crore from FY 2025-26, and all non-corporate entities from FY 2026-27. This workbook follows that format out of the box. For the full applicability rules, level-wise disclosure tiers and what changes in practice, read our guide: New ICAI format for non-corporate financial statements – who must follow it and from when.
One workbook, three entity types
Pick Partnership firm, LLP or Proprietorship on the Setup sheet and every label adapts – the capital line, the appropriation rows, LLPIN vs registration number, signature titles, even the accounting-policies wording. Partners entered once on Setup flow into the capital accounts sheet and the signature blocks.
The prescribed grid – opening, capital introduced, remuneration, interest, withdrawals, share of profit and closing per partner. Profit allocates automatically in the profit-sharing ratio, and the closing total must tie to capital per the books.
Book profit, the maximum allowable remuneration on the current limits (Finance (No. 2) Act 2024 – ₹3,00,000 or 90% on the first ₹6,00,000 of book profit, 60% on the balance) and any excess – computed alongside, never printed in the financials.
Block-wise depreciation at Income-tax rates with the 180-day half-rate rule built in, common blocks pre-loaded, an SLM option – and the PPE note builds from it.
Ledger-wise note line items pull automatically per map code – the first five ledgers named, the rest grouped – so the notes always total back to the books.
Only the cover and the map guide are protected. Every statement, note and formula is open – insert rows, rename lines, delete what does not apply. The engine stays visible, never a black box.
Trial balance ties, Balance Sheet balances, capital reconciles, profit equals the amount credited to capital – a Checks sheet must read ALL PASS.
What is inside
Fifteen sheets: Cover, Setup (entity type, dates, rounding, partners, signatories), Trial Balance with the mapping dropdown, Map Guide, Calc, the Capital accounts sheet, block-wise Depreciation, Balance Sheet, Statement of Profit and Loss, Notes to the Balance Sheet, Notes to the Profit and Loss, editable accounting Policies that adapt to the entity type, an optional Cash Flow, and the Checks sheet.
Excel or the cloud app?
This workbook is fully self-contained and free. The Balance Sheet App adds what Excel cannot: one-click Tally import with automatic ledger mapping, finalisation adjustments as balanced journal entries, year-on-year rollover with locked comparatives, multi-entity dashboards and print-grade PDF output. Companies get the Schedule III format there too – and the Schedule III Excel template remains available for corporate sets.
Frequently asked questions
Who should use this workbook?
Partnership firms, LLPs and sole proprietorships preparing financial statements in the ICAI non-corporate format – and the CA firms who prepare and audit them.
Is the format really mandatory?
Yes, in phases: non-corporate entities with turnover above ₹5 crore for FY 2025-26, and all non-corporate entities from FY 2026-27, per the ICAI Council decision on the Guidance Notes.
Is it really free?
Yes – fully functional, no watermark. Subscribers receive refreshed files by email when the workbook is updated.
Are the formulas locked?
No – deliberately. Only the cover and map guide are protected; every formula is visible and editable. Yellow cells with blue text are the inputs.
Does it handle interest on capital and partner remuneration?
Yes – map the P&L debits to the PINT and PREM codes and they present as appropriations below profit; the capital accounts sheet carries the credits partner-wise, with the section 40(b) allowable-remuneration helper alongside.