1. Professional Invoice Print Templates

TallyPrime 7.1 gives you access to ready-to-use predefined invoice templates with personalisation options including logos, watermarks, header and footer images, custom fonts and colours, and terms and conditions. You can save your preferred template and set it as the default for each voucher type. Every invoice that goes out looks consistent and on-brand, with no extra design work.

2. Simplified UAE VAT 201 Filing

This is the most significant addition for UAE businesses and was not available in 7.0.

TallyPrime 7.1 lets you download VAT 201 Return details directly from the EmaraTax Portal into TallyPrime, verify that the return periodicity matches between your company and the portal, and use the downloaded Return Summary to review differences with your books. A new VAT 201 Reconciliation Report lets you compare your books with the downloaded return and drill down into transactions before filing. Section 6 differences relating to goods imported into the UAE are now highlighted in red for quick identification. The Return Transaction Book is also updated to group saved VAT returns period-wise, with a new Download Status column so you can track which returns have been downloaded from the portal.

For any UAE business filing VAT regularly, this alone makes the upgrade worthwhile.

3. Smarter Supplier Reconciliation with IMS Books View

TallyPrime 7.1 lets you fetch supplier details such as trade name, legal name, and address directly from the portal using GSTIN or UIN, even when the party ledger is not yet created in your books. A new Books View in the IMS Inward Supplies report shows voucher statistics so you can quickly identify vouchers that are reconciled, mismatched, available only in books, or require action.

For UAE businesses managing input VAT recovery, this reduces manual reconciliation significantly. Read more on staying VAT-compliant with Tally in our guide on VAT Compliance in UAE.

4. ICICI Bank Added to Connected Banking

TallyPrime 7.1 adds the ability to send online payments from ICICI bank accounts using Connected Banking directly within TallyPrime. This joins the existing support for Axis Bank, SBI, and Kotak Mahindra Bank. UAE businesses with accounts linked to these banks can now initiate payments, view live balances, and reconcile transactions without switching between systems.

5. Faster Bank Reconciliation

A new Potential Matches Summary view lets you see the count of book or bank transactions in different sections and reconcile them within each section. You can also add bill-wise details while creating multiple vouchers from bank statements. For businesses managing several accounts, month-end closing becomes noticeably quicker. Cleaner bank data also makes your MIS reports significantly more reliable.

6. Auto Wrap Text

Long text in masters, transactions, and reports is now displayed with full clarity using Auto Wrap Text, without any compression or truncation. A small change, but one that reduces reading errors in printed documents and on-screen reports.

7. Flexible Discounts and Cleaner Voucher Numbering

You can now apply discounts as a percentage, as a fixed amount, or both in the same transaction. Deleted voucher numbers can also be accessed and reused in any voucher. Both changes make day-to-day data entry cleaner and more flexible.

8. Edit Log for Audit Trail and Corporate Tax Compliance

The Edit Log can be enabled based on your business needs, or set to permanently active for full audit trail coverage. Every change to a voucher is recorded by user and timestamp. With UAE Corporate Tax now in effect, a clean and traceable financial record is not just good practice, it is increasingly a requirement. See our guide on How to Download and Install TallyPrime Edit Log for setup help.