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Knowledge Map Tally.ERP 9

Knowledge Map of Tally.ERP 9

Preface i

Preface What is a Knowledge Map? A Knowledge Map is a representation of a concept using levels of information. Each level provides deeper understanding than the previous one. The emphasis is on gaining the maximum understanding in the shortest possible time. Why Knowledge Map for Tally.ERP 9? Tally.ERP 9 is one of the most widely used financial software that has extended capabilities and great potential to transform a business. Many areas of Tally, when implemented, actually translate to increased efficiency, reduced costs, and organised business operations. This Knowledge Map has been created to help readers gain an immediate understanding of the key areas of expertise; such an understanding can bring about positive impact on your business. This Knowledge Map on Tally.ERP 9 aims to

1. Get you closer to understanding the key areas in a short time. 2. Illustrate how these key areas can benefit a business. 3. Encourage the efficient use of the most appropriate solutions. 4. Have the most beneficial information handy, enhancing usability of Tally.ERP 9. 5. Helps users find critical information quickly. 6. Enhance decision-making and problem-solving by providing access to applicable information.

Benefits of using the Knowledge Map for Tally.ERP 9

• Grasp the necessary know-how quickly without having to refer to any secondary material. • Arrive at information faster! This is a non-continuous, easily understandable guide on how to

obtain a positive impact with Tally.ERP 9. • Information on any page is complete and relevant to the functionality of the key area; you

don’t have to refer to another page to understand it. • Immediate awareness of where you are in the Knowledge Map. All pages have been marked

for easy navigation.


Preface ii

Structure of the Knowledge Map for Tally.ERP 9 The Knowledge Map is layered as shown below, with each layer zooming in on each key area.

Homepage (Level 1)

The Homepage consists of the key areas. Clicking on any of these topics will take you to the page containing pictorial representation of the key functionalities of that key area.

Image Trigger (Level 2)

Level 2 provides a pictorial overview of the key areas. The purpose of pictorial representation is to act as triggers, to help you remember the basics of the topic under discussion. The images will lead you to Level 3 when clicked.

Functionality (Level 3)

Level 3 contains a brief explanation of the main functionality of AuditReady and Revised Schedule VI.

A brief introduction on the functionalities of Tax Audit, Statutory Audit and Revised Schedule VI in Tally.ERP 9 will be given here. Zoom in to Level 4 for more details by clicking on the name of the functionality.

Functional Details (Level 4)

Navigating to Level 4, will lead you to further information on the functionality of the key area i.e., the benefits and features of the functionality, and how to use it.

Scenario and FAQs

A typical business situation that can be simplified with Tally.ERP 9 is presented as a Scenario. The FAQs section, as the name suggests, contains a set of Frequently Asked Questions pertaining to each of the key areas discussed.


Table of Contents iii

Table of Contents

Preface ............................................................................................................. i AuditReady ...................................................................................................... 1

AuditReady Functionality ................................................................................ 2

Verification of Balances ............................................................................................... 5

Verification of Chart of Accounts ................................................................................... 5

Relative Size Factor (RSF) ........................................................................................... 6

Mapping of Chart of Accounts ....................................................................................... 7

Classification of Assets & Liabilities as Current and Non-Current ......................................... 7

Disclosure of any item of income or expenditure – maximum of Rs.100000 or 1% of revenue .. 8

Minimum requirement of disclosure on the face of the financial statements........................... 8

Clause 17h- Amounts inadmissible u/s 40A (3) ................................................................ 9

Clause 24(a)- Loans/Deposits Accepted (Sec 269SS) ........................................................ 9

Scenarios .......................................................................................................10

FAQs ..............................................................................................................16


AuditReady 1

AuditReady

The features under Audit & Compliance hitherto were provided only to the practicing Chartered Accountants for use in audits. Now these features are provided to the customer for keeping the audit data ‘clean’ before the arrival of the Auditor. The customer can do a pre-check of the data and assure that ‘all is well’ and ready to be audited.


AuditReady > Functionality 2

AuditReady Functionality

Statutory Audit The two important features under Statutory Audit to be focussed are:

• Audit & Analysis • Financial Statements

Under the feature, Audit & Analysis, there are many sub-features that can be used by the client. Some important sub-features are:

Verification of Chart of Accounts

This feature provides information on the exceptions found in the chart of accounts. Some of these are squared off ledgers, missing ledgers, used and unused ledgers, and ledgers not available in the current year, etc. The customer can use the exceptions to correct the accounting information and keep it ‘clean’ before the beginning of the audit.

Verification of Stock Items

These are exceptions related to stock items and inventory. The exceptions are differences in opening stock, stocks with negative closing balances, stock items not available in the current year, etc. The customer can correct the stock data and keep it ready for audit.

Verification of Balances

The feature, Verification of Balances is an important feature to ascertain if corrected closing balances are carried forward to the current year. This helps the customer to ensure that the opening balances are correctly recorded in the books of accounts of the current year. Under Verification of Balances, there is the sub- feature Alt + V: Balance Variance. This report helps the customer to generate the variance information in amount and percentage terms. For example, the customer can assess the increase /decrease in ledger balances (e.g. operating expenses) and find the associated reasons. The customer can take corrective actions to improve the business operations through cost reductions /increase in incomes (example of electricity and freight expenses). There are other sub-features like, Alt + X: Exceptions and Ctrl + O: Opp Behavior which will be useful to the customer. The customer can generate the balance mismatches by clicking Alt + X: Exceptions button. Similarly, the report on ledgers displaying changes in their accounting behaviour can be generated by clicking the Ctrl + O: Opp Behavior button.

Relative Size Factor (RSF)

This feature assists the customer to find data entry errors, recording of amounts to wrong ledgers, etc. This is a forensic audit tool. The report computes the ratio of the first highest to the 2nd highest amount debited to an account. If the ratio is unusual then the customer can examine in detail to find reasons for the deviation. This is a CAAT and is very useful in detecting errors for correction.




Revised Schedule VI The revised Schedule VI reports being a requirement under the Companies Act applies to all registered companies to comply.

There are user-friendly features in Tally.ERP 9 that assist the customer in easy initial/draft mapping of ledgers /groups with the respective Rev Sch VI Head(s). Further, the Customer can use various other features in the product to refine the mapping before the arrival of the Auditor.

• For a customer who enables and uses the stat modules the draft/initial mapping in the P&L A/c is automatic. There are transactions that fall out of the stat modules and these are grouped under Ungrouped Head for the customer to map.

• If the customer does not enable any stat module, the entire ledgers/groups are grouped under Ungrouped Head. This has to further grouped to the respective heads.

• The customer can select any Head and drill down to the detailed level. Each Head is numbered with a Note number for cross reference. Explanatory details can be added to the Note for use.

• Within a Head, the ledgers/groups can be moved to the appropriate Rev Sch VI Head by using commands like Move and To. The customer can restore the mapping by clicking Undo.

• There are other sub-features like Classification Type where the customer can do the operations of:

• Bifurcate • Dr/Cr Closing Balance • Dr/Cr Pending Amount • Dr/Cr Transactions Total • Entire Balance

• Another requirement in P&L is the display of income or expenditure details which are maximum of 1% of the operating revenue or Rs.1, 00,000. The customer need not spend time on generating this report as it is generated by clicking Ctrl + C: Classify Helper button in the P&L A/c.

• The customer based on the needs of the Accounting Standards can insert new heads for better disclosure and transparency. New Heads can be inserted by clicking Alt+I: Insert Head. Similarly, the customer can rename an existing head based on the type of business carried out.

• The important Rev Sch VI requirement of Balance Sheet is the classification of Assets and Liabilities as current and non-current in nature. The customer by experience can classify the ledgers/groups as current and non-current, especially the Trade Receivables and Trade Payables accounts.



Tax Audit Comply better with the provisions of Tax Audit

The Tax Audit or Sec 44AB audit is performed every year by the Auditor to verify the customer’s compliance with the requirements under the cited section of Income Tax Act. The Tally.ERP 9 AE offers exciting features to ensure that compliance is met before the arrival of the auditor. Some important features that deserve a mention are:

Clause 17h - Amounts inadmissible u/s 40A(3)

The first feature, clause 17h assists the client to detect those payment transactions which were made by cash for amounts aggregating and exceeding Rs.20000/- on a day. This will alert the customer not to make cash payments exceeding Rs.20000/-. In this manner, the client stays compliant with the provisions of the Income Tax law.

Clause 24(a) - Loans/Deposits Accepted (Sec 269SS) Clause 24(b) - Loans/Deposits Repaid (Sec 269T)

The Sec 269 SS and Sec 269T prohibit the receipt and payment of loans above Rs.20000/- by cash. The law mentions such receipts and payments have to be received/paid through crossed DD/cheque. The above mentioned features provide information on the non-compliance, if any, with the mentioned sections. The customer will now take steps to avoid such incidents in future.

Generation of Form 3CD, Form 3CA and Form 3CB

The customer can generate the Form 3CD before the commencement of the Tax Audit. The feature assists in generating annexures, reports and additional info to the requisite clauses. The audit reports under Forms 3CA and 3CB can also be generated to be annexed to the Form 3CD as required under the Tax Audit.



AuditReady > Funtionality > Funtionality Details 5

Statutory Audit

Verification of Balances

BENEFITS • Detects mismatches between the previous year’s closing balances and the

current year’s opening balance to ascertain reasons and plan the scope of audit

FEATURES • Balances mismatches, variances in balances and instances of opposite behaviour

of ledgers/groups are generated by this feature

HOW TO 1. Gateway of Tally > Audit & Compliance > Statutory Audit > Audit &

Analysis > Verification of Balances


BENEFITS • Detects exceptions in chart of accounts to determine the areas for audit (scope)

FEATURES • Various exceptions on chart of accounts are generated by this feature


Analysis > Verification of Chart of Accounts



Relative Size Factor (RSF)

BENEFITS • Detects erroneous/fraudulent transactions • Assists in cleaning the data before audit

FEATURES • The CAAT features’ objective is to detect the data which have deviated from the

norms. The focus is to detect control lapses and to protect Customer’s assets.


Analysis > Relative Size Factor (RSF)



Revised Schedule VI

BENEFITS • Easier mapping of chart of accounts • Saves time

HOW TO Enable stat modules and account transactions- F11: Features

1. Alt + F9: Master Config (for one time mapping) - Gateway of Tally > Audit & Compliance > Statutory Audit > Financial Statements > Profit and Loss/Balance Sheet

2. Ctrl + Enter: Classify (for single ledger mapping) Gateway of Tally > Audit & Compliance > Statutory Audit > Financial Statements > Profit and Loss/Balance Sheet

3. Alt + C: Multi Classify: (for more than one ledger/group) – Available in ledger level

FEATURES • Automatic/Manual Mapping • Use of classification types to do mapping

Mapping of Chart of Accounts

BENEFITS • Quick generation of information relating to current and non-current in the

Balance Sheet • Saves time

FEATURES • Automatic generation of report

HOW TO 1. Gateway of Tally > Audit & Compliance > Statutory Audit > Financial

Statements > Balance Sheet > Ctrl + C: Classify Helper

Classification of Assets & Liabilities as Current and Non-Current



BENEFITS • Quick generation of information of 1% of revenue or Rs.100000 (greater of the

two) • Saves time


Statements > Profit and Loss > Sale of Products/Other Incomes/Expenses > Ctrl + C: Classify Helper

FEATURES • Automatic generation of report

Disclosure of any item of income or expenditure – maximum of Rs.100000 or 1% of revenue

BENEFITS • Easier presentation of additional information/substitution of existing information • Saves time

FEATURES • Rename Head/Insert a new Head


Statements > Profit and Loss / Balance Sheet > Sale of Products/Other Incomes/Expenses > Alt + F1: Detailed > Insert Head/Rename Head

Minimum requirement of disclosure on the face of the financial statements



Tax Audit

Clause 24(a)- Loans/Deposits Accepted (Sec 269SS) Clause 24(b)- Loans/Deposits Repaid (Sec 269T)

BENEFITS • Provides details of loans and deposits over Rs.20000 accepted by cash • Provides details of loans and deposits over Rs.20000 repaid by cash

FEATURES • The feature [Clause 24(a)] allows the configuration of the ledgers to be

considered for accepting loans and deposits and the transactions of relating to such accounts are displayed for audit.

• The feature [Clause 24(b)] allows the configuration of the ledgers to be considered for repayment of loans and deposits and the transactions of relating to such accounts are displayed for audit.

HOW TO 1. Gateway of Tally > Audit & Compliance > Tax Audit > 44AB Audit >

Loans / Deposits Accepted & Loans/Deposits Repaid

Clause 17h- Amounts inadmissible u/s 40A (3)

BENEFITS • Instant generation of aggregate of cash payments made above Rs.20000 ( with

lowest and Highest amounts) accounted in a ledger • Facility to enter details for the clause in Form 3CD directly • Ensures Customer avoids such type of inadmissible cash payments in future

FEATURES • Generates the cash payments exceeding Rs.20000 report for audit

HOW TO 1. Gateway of Tally > Audit & Compliance > Tax Audit > 44AB Audit >

Amounts debited to P&L a/c > Amounts inadmissible u/s 40A(3)


AuditReady > Scenario 10

Scenarios

Statutory Audit Scenarios

XYZ wants to perform the stat audit pre-checks before the arrival of the Auditor for audit to keep the data ready for audit. The plan of pre-checks is as follows:

• Verification of Chart of Accounts o Find the details of those accounts (ledgers) which are squared off

• Verification of Stock Items o Find if any stock items with negative closing balances

• Verification of Balances o Verify if the closing audited balances have brought forward correctly

• Relative Size Factor (RSF) o Study changes in ledger accounts

• Sample those payment vouchers whose amounts exceeds Rs.20000

Steps to load the current/previous years’ company data and to access the Audit & Analysis feature:

• Loads the current year’s data • Gateway of Tally > Audit & Compliance > Audit & Analysis • Loads the previous year’s data- Ctrl + F3: Compare Cmp


The steps to access this feature are:

• Accounts squared off during the year: CA Auditor now proceeds to find those ledger accounts that escape appearing in the final accounts. Squared off ledgers have nil opening and closing balances but the debit and credit amounts are equal. He executes these steps:

• Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Chart of Accounts > Accounts squared-off during the year

A list of squared–off ledgers is displayed for the Company to verify. The company verifies and enters the required details.

Verification of Stock Items

• Stock items with negative closing balances: The Company wants to find those stock items with negative closing balances and executes these steps:

• Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Stock Items > Negative Stock

A list of those stock items which have negative closing balances is displayed. Now any stock item can be selected and its transactions (Stock Vouchers) can be reviewed to know the reasons for the negative balances. The verification of the stock item can be performed by clicking Alt + F9: Verify button after review of its transactions



Scenarios

Verification of Balances To ascertain the carry forward of correct opening balances, the Verification of Balances feature under Audit & Analysis menu has to be used. The steps to execute are:

• Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Balances

To extract the report of differences between the current year’s opening balances and the previous year’s closing balances, the following action is executed.

• Click Alt + X: Exceptions

Now the Company has to find the reasons for the difference and take corrective actions.

Analytical Procedures

The Company wants to find the variance changes in the expenses when the current year data is compared with the previous year. The steps to access Analytical Procedures are:

• Gateway of Tally > Audit & Compliance > Audit & Analysis > Analytical Procedures > Comparison between Sales Accounts and Indirect Expenses

The comparison analysis shows the variance changes in amount and percentage terms.

For example, the Company finds one head of expense; Business Promotion Expenses recorded a change above 200% in relation to the change in Sales values for the two years (Current and Previous).

Verification of Vouchers

The Company wants to sample 20 vouchers payment vouchers whose amounts exceed Rs.20000. The Company executes the following steps:

• Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Vouchers > Payment > Alt + S: Sampling Config > Amount Range

The minimum and maximum amounts are entered in the sampling screen as shown:

• Minimum Amount: 20000 • Maximum Amount: (blank)

A list of the vouchers which carry amounts more than Rs.20000 is displayed for audit. The Company after conducting the pre-checks records the outcomes to discuss with the Auditor.



Scenarios

Revised Schedule VI Scenarios

XYZ is a registered company under the Companies Act, 1956. The Company has to prepare the final accounts reports of Balance Sheet and Statement of Profit and Loss A/c as per the Schedule VI requirement and keep it ready before the audit. It starts with the draft mapping and performs all other activities necessary for the preparation of the reports. Here are some important scenarios relating to the preparation of the Rev Sch VI for Balance Sheet and Profit and Loss A/c respectively.

1. It wants to generate the initial/draft mapping of Profit & Loss A/c and Balance Sheet respectively.

Solution: The Company by executing the following steps is able to generate instantly the first draft of Revised Schedule VI Financial Statements.

• Load the client’s current year data • Gateway of Tally -> Audit & Compliance -> Financial Statement -> Profit &

Loss • Gateway of Tally -> Audit & Compliance -> Financial Statement ->

Balance Sheet

2. The Company as per the requirements of the Revised Schedule VI, has to classify the Assets and Liabilities in the Balance Sheet statement as Current and Non-Current respectively. Some examples of such accounts are, Trade Receivable / Payables, Borrowings, Term Loans etc.

Solution: The following are the steps to classify Assets and Liabilities as Current and Non-Current.

a. Gateway of Tally -> Audit & Compliance -> Financial Statement -> Balance Sheet -> Ctrl+ C: Classify Helper

Tally by default displays the statement of Current and Non-Current for Trade Receivables (Sundry Debtors) and Trade Payables (Sundry Creditors) based on ‘Due Dates’ provided the ‘Bill-wise’ option is enabled and used.

b. Alternatively, the Company can utilize the ‘Set Parameter’ (Alt+ S) button to generate the Current and Non-Current information based on user defined percentage values or the operating cycle values.



Scenarios

3. To simplify the disclosure requirements, it is necessary that any item of Income or Expenditure which is a maximum of Rs. 1 Lakh or 1% of Revenue from Operations shall be disclosed separately on the Statement of Profit and Loss A/c. The Company follows executes these steps:

a. Gateway of Tally -> Audit & Compliance -> Financial Statement -> Profit and Loss A/c -> Identify the appropriate Income / Expenditure head and drill-down to the next level -> Ctrl + C: Classify Helper

Tally by default displays the list of ledgers falling under this criterion b. Select appropriate Ledger by pressing the Spacebar and click Alt + S: Show

Separate button

4. To ensure the data is properly presented, the Revised Schedule VI requires a proper mapping of ledgers/groups to the Heads. The ledger/group values can be mapped based on the following criteria: • Bifurcate Balance- Bifurcation of the closing balance to the respective Rev Sch VI

head(s) • Entire Balance – Map the entire closing balance of ledger/group to the appropriate

Rev Sch VI head • Dr/Cr Closing Balance- Map the ledger/Group based on the Debit/Credit closing

balances to the appropriate Rev Sch VI head • Dr/Cr Transaction Total- Map the total of the Transactions of the Ledger/Group

Debit or Credit to the appropriate Rev Sch VI head • Dr/Cr Pending Balance-Map the pending Dr and Cr amounts of a ledger to the

respective Rev Sch VI head



Scenarios

Tax Audit Scenarios

XYZ is an assessee who has income from business and earns gross receipts exceeding Rs.60 lakhs during the previous year. It wants to keep the data ‘clean’ before the arrival of the Auditor. It performs some pre-checks of some clauses:

1. The Company wants to check compliance with Sec 40A (3) to find if there are any inadmissible amounts- clause 17h.

Solution:

The Company can check inadmissible amounts by executing these steps:

• Load the current year’s data for audit • Gateway of Tally > Audit & Compliance > Tax Audit > 44AB Audit • 17-Amounts debited to P&L a/c > 17(h)- Amounts inadmissible u/s 40A(3) • Select ledger(s) by pressing Spacebar • Click Enter to drill down to Cash Payments screen • Select Payment voucher for audit by pressing Spacebar • Click Enter/Alt+ F9 to perform the audit • Select and enter details in Audit Details window • Accept the details

2. The Company wants to know if there are loans accepted from others aggregating and

exceeding Rs.20000/. It wants to pre-check this requirement under Cl 24(a) – Loans/Deposits accepted (Sec 269SS)?

Solution:

The steps required to perform a pre-check of the above clause are mentioned below:

• Gateway of Tally > Audit & Compliance > Tax Audit > 44AB Audit > Loans/Deposits Accepted

• Select any ledger and press Enter to drill down to Ledger Vouchers screen • Select Receipt voucher for audit by pressing Spacebar • Click Enter/Alt+ F9 to perform the audit • Select and enter details in Audit Details window • Accept the details



Scenarios

3. Similar to the pre-check of Clause 24a the Company also performed the pre-check of clause 24b.

The steps required to perform a pre-check of the above clause 24b are mentioned below: • Gateway of Tally > Audit & Compliance > Tax Audit > 44AB Audit >

Loans/Deposits Repaid • Select any ledger and press Enter to drill down to Ledger Vouchers screen • Select Payment voucher for audit by pressing Spacebar • Click Enter/Alt+ F9 to perform the audit • Select and enter details in Audit Details window • Accept the details


AuditReady > FAQs 16

FAQs

Statutory Audit

1. What are the features that require configuration? How do I configure the data before audit?

You can configure the data under the four heads of: • MSME (Micro, Small & Medium Enterprises) • Periodic Payments and Receipts • Related Party • Sampling Methods

Configuration of the above transactions is easy task in the AE. Click Gateway of Tally > Audit & Compliance > Ctrl + F9 > select the feature for configuration. For example, if you select and click MSME, the MSME Configuration screen is displayed. Select the ledger(s) by pressing the Spacebar and click F5: Update button and exit. The selected ledgers are displayed under the feature, MSME Transactions for audit.

2. My accounting data is large. I want to audit a sample of it. Is it possible?

Yes, In the Tally.ERP AE version, we have provided methods for you to draw the sample from a large population. The data sampled can be vouched and audited. Path:

1. Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Vouchers > Alt + S: Sampling Config

2. Gateway of Tally > Audit & Compliance > Audit & Analysis > Ctrl + F9: Master Config > Sampling Methods > Ctrl + R:Random Sampling

Sampling methods available are: • All vouchers (100% audit) • Amount Range • Benford Analysis • Even Numbered Vouchers • Odd Numbered Vouchers • Specific Period • Specific Vouchers • Random Sampling



FAQs

3. We wish to audit the interbank transactions between our bank accounts. We would like to know if the delays in banking of cheques/DDs between various banks can be found out by your audit tool.

We have a feature, Inter Bank Transactions under the heading, Other Analysis. This feature will provide you details of:

• Accounting date • Instrument date • Bank date ( date of credit as provided by the receiving bank statement) • Delays in terms of days

Now you can verify further the reasons for the delay in crediting the amount. We also provide the option (F5: Reconcile) to reconcile the entries in your bank book with the bank pass statement.

Path: Gateway of Tally > Audit & Compliance > Audit & Analysis > Other Analysis > Inter Bank Transactions



FAQs

Revised Schedule VI

1. How do I map the ledgers/groups in the Balance Sheet and Profit and Loss A/c statements?

You can map the ledgers/groups based on the following scenarios:

Profit & Loss A/c: If you enable the statutory modules and accounting transactions using them, then the first level/draft mapping is automatic.

Other ledgers/groups that can’t be identified are grouped under Ungrouped for further mapping.

Balance Sheet: By default the ledgers/groups are mapped to the heads based on the Tally groups at the first level. Those unidentified ledgers/groups are grouped under Ungrouped for further mapping.

2. I want to classify the trade receivables (sundry debtors) and trade payables (sundry creditors) as current and non-current. Is it possible?

Yes, we have provided an option to classify the trade receivables and payables as current and non-current. There is a button Ctrl + C: Classify Helper for this type of classification.

Path: Gateway of Tally > Audit & Compliance > Statutory Audit > Financial Statements > Balance Sheet > Ctrl + C: Classify Helper

Also you can classify the data based on:

• Percentage basis • Due Date

3. The Rev Sch VI calls for disclosure of items (expense or incomes) which are

maximum of 1% of the revenues of Rs.100000 separately in the Statement of Profit and Loss A/c. How is this possible in the product?

Select the Income head and press Enter. You will find a button, Ctrl +C: Classify Helper. Click this button to generate a report for the requirement. Select those transactions by pressing Spacebar and click Alt+ S: Show Separate to display them under the respective heads.



FAQs

Tax Audit

1. What are the benefits in Form 3CD?

The feature Form 3CD offers you the following benefits: 1. You can mark the clauses as either applicable or not applicable for entry of details

(F5: Update). Only the applicable clauses will be opened to enter details. 2. Copy the format to the previous year or copy to another company for simplifying

the entry of details. 3. Get an access to the 44AB Audit (Alt + X: 44AB Audit) feature to view those

ledger vouchers related to a clause while entering details. 4. View the details of clause reference by clicking Alt + C: View Clause Ref button. 5. If the same details are to be entered for different sub-clauses in a clause, click

Ctrl + C: Copy to All. 6. Use common texts to enter details in a clause by clicking Alt + T: Select Text. 7. Print, export or email the filled in form for further disposal.

2. As a Customer, I want to know how to generate the list of cash payments aggregating to and exceeding Rs.20000 on any day. Can you explain?

Execute the following steps:

Path: Gateway of Tally > Audit & Compliance > Tax Audit > 44AB Audit > Amounts debited to P&L a/c > Amounts inadmissible u/s Sec 40A (3)

A list of ledgers with details of cash payments and lowest and highest voucher values are displayed. Select any ledger and perform the verification. You can click Alt + F: Form 3CD to enter the details for the sub-clause 17(h).

3. I want to configure specified persons for audit under clause 21. How do I do the configuration?

• Select Payments to Specified Persons and click Enter • Click Ctrl + F9: Master button • Select the appropriate accounting Group • Select ledger(s) by pressing Spacebar • Click F5:Update to include the ledger(s) under the clause

Now you can verify the transactions under the selected ledger(s).

Date post:	26-Jul-2018
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