Income tax || How to Importing Trial Balance directly from Tally

Importing Trial Balance directly from Tally:

User can eliminate repetitive work by importing the trial balance from Tally directly and preparing financial reports like the balance sheet, profit and loss, trading account, etc.

To import the trial balance from Tally, please follow the steps provided below:

NOTE: Before proceeding with the process, the important details to keep in mind w.r.to Tally are

1. Tally should be open.
   
2. Company should be open.
   
3. The period for which the data is to be imported should be selected properly. 

Step 1: 

Open the Income Tax software - Go to Transactions → Balance sheet → Trial Balance option given in the menu bar:            

Step 2:

Now, Click On Import Trial Balance:

Step 3:

Select Tally Direct option in "Import Selection" menu:            

Step 4: 

Now company name will appear in company name menu which is open in Tally. 

Once clicked on Next Button, the period selected in tally would appear. Click on OK and NEXT:            

Step 5: 

The below window appears when the data gets imported from Tally to the Software. Click on Next:         

Step 6:

In case there are any groups that are not tallied, it is required to tally them before completing the import process. Now, click on the Finish button. This will import the data for the selected period from Tally directly to the trial balance:            

Step 7:

 You can check the data imported from Tally Directly in the software under Trial Balance head following:

Transaction → Balance Sheet → Trial Balance:

Step 8:

Import the Trial Balance in General Balance sheet/P&L  Click on Import From Trial Balance:

Transaction >> General Information/Balance sheet/P&L:

Hope this helps.

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