Working Note and Audit Working Paper
In the F5: Audit Features screen, the option - Enable Audit Working Paper is provided. On setting this field to Yes, the working note can be entered and audit note can be copied to the working paper during or after audit. Just by click of a button Audit Working Papers can be generated along with these working / audit notes.
Working Note: During audit the facility is provided to enter the working note at the Company, Masters and Vouchers level. Based on reports the relevant working notes will be displayed. The note entered can be viewed in the current year and configured to be stored for display in the next year as reference. In the Audit & Analysis dashboard of Statutory Audit, the working note can be entered using the tools:
Verification of Chart of Accounts
Verification of Stock Items
Verification of Balances
Analytical Procedures
Pending Documents
Periodic Payments and Receipts
Repeated Transactions
Relative Size Factor
Other Analysis
Verification of Voucher, Related Party Transactions, Forex Transactions, MSME Transactions, Salary / Wages Payments
Here working notes get captured in to the Audit Working Paper.
Audit Working Paper: The facility is provided to generate Audit Working Papers from Audit Documentation menu and Audit & Analysis dashboard of Statutory Audit. The Audit Working Paper is divided into three sections:
Company Note: It displays the working note and the name of the person who entered it.
Masters Note: It displays the working/audit note entered for Account Group, Stock Group, Stock Items and Ledgers with the group name, scope, audit status, working note, date-time and the name of person who entered it.
Voucher Note: It displays working / audit note entered for Vouchers with voucher date, ledgers selected, voucher number, scope of audit, audit status, working note, date-time and the name of person who entered it.
The F12: Configuration of Audit Working Paper provides the facility to filter the report based on:
Working note level (company or masters or vouchers)
Sorting methods to show working / audit notes in the increasing or decreasing order of ledger, group, stock group and stock item names, transaction amount, date-time, users and scope of audit
Note type-wise filtering facility with Audit / Verify, Future Reference and working note.
1. General Enhancements
On performing Try/Buy/Download operation from Market Place, the messages - Restarting Tally and License Updated Successfully are not displayed. This is done to minimise the number of messages for a better user-experience.
On posting a query about the Add-Ons a message will be displayed requesting the confirmation from user to set the selected Add-on partner as the Preferred partner. Only after obtaining the confirmation, the link will be established. Also an alert message will be displayed if the Add-on partner is not a Service Partner as the former will not be set as the Preferred partner.
2. Functional Enhancements
The facility is provided to print the cheque with the date format - DDMMYYYY for a better user experience. The same can be configured from Cheque Printing Configuration screen by selecting applicable Style of Date format.
An option - Remove Bank Date on Altering Reconciled Voucher is provided to configure the bank date on altering the reconciled voucher. This option is available in Banking Configuration of F12: Configuration. On enabling this option the Bank Date will get removed if the bank ledger or amount is altered
In Excise Payment voucher, the payment type - Arrears is provided to make payments towards arrears and adjust it against the required bills in the Excise Duty Allocation screen.
The facility is provided to generate Tariff wise Daily Stock Register for items having same Reporting Unit of Measure.
In the default Balance Sheet report the S: Schedule VI button (Alt+S) is provided to generate Balance Sheet as per the Schedule VI format of the Companies Act.
In the default Profit & Loss Account report the S: Schedule VI button (Alt+S) is provided to generate Profit & Loss Account as per the Schedule VI format of the Companies Act
As per Notification, the new Point of Taxation Rule (from 1-4-2011) will not be applicable on specified services viz., Chartered Accountant, Cost Accountant, Company Secretary, Architect, Interior Decorator, Legal and Scientific and Technical consultancy services if the service provider is Individuals, Proprietary Firms and Partnership Firms. The functionality is enhanced to meet the requirements of Point of Taxation Rule.
3. Auditors’ Edition
In the Not Used ledger status report displayed from Verification of Chart of Accounts, the facility is provided to select multiple ledgers and delete them. This will be helpful in reducing the count of ledgers unused for more than two years.
In Verification of Stock Items, the exception report - Not Available in Current Year is provided to list out all the stock items which are not available in Current year but available in Previous Year.
The column - Excess Paid is provided in Statutory Payments report to display the amount paid in excess of actual liability.
In the Other Analysis tool introduced under Data Analysis, the following exception reports are provided:
1) Inter Bank Transactions: This report displays all the transactions between the banks (Inter Bank) with Names of both the banks, Voucher Type, Voucher Number, Debit and Credit amount, Instrument Date, Branch name, Bank Date, Number of Days Delayed, Received from Bank, Transaction Type, Instrument Number. Also the facility is provided to audit the same.
2) Cash Withdrawals / Deposits to Bank: This report shows all the transactions recorded by selecting cash and bank ledger (Withdrawals / Deposits). The transactions listed displays details pertaining to Voucher Date, Voucher Type, Voucher Number, Ledger Amount, Instrument Date (Instrument Date entered in Bank Allocations screen on selecting bank ledger), Bank Date (entered while reconciling using F5: Reconcile button), Number of Days delayed, Audit Status and Audit Note.
3) Fixed Asset Analysis: This report is moved from Data Analysis screen to Other Analysis.
4) Transactions on Holidays: In this report,
The transactions recorded on Sundays will be listed. Using the C: Holiday Configuration button (Alt+C), the Holiday Calendar can be configured to select two days for weekly off as per business specific requirements.
The transactions can be sorted and filtered by selecting only the required days using F12: Range button (Alt+F12).
5) Highest and Lowest Value Transactions: This report captures transactions with top five highest and lowest values. This report captures details of Highest value, lowest value, difference in range and percentage of difference and gives the flexibility to increase or decrease the number of transactions listed.
6) Pending Advances: This report displays the advances which are given as advance and not adjusted against payments.
7) Stale Cheques/Instruments: This report display all the reconciled and un-reconciled cheques whose clearing days exceed the validity period (validity period defaulted to 6 months) with details pertaining to Voucher Type, Voucher number, Transaction value, Instrument Date, Age by days, Audit Status and Audit Note. In the F12: Configuration, the vouchers can be filtered by validity period in days or months.
In the Audit Journal voucher, Prior Period Items is provided as an option for Appropriation in the Used for field. The value entered using this option in audit journal gets reflected in Prior Period Items section of Profit & Loss Account.
Under Verification of Vouchers, the drill down report of Audit column displays only the Audited vouchers irrespective of the cursor position. The toggle button - F7: Show All/Show Audited (Alt+F7) is provided to show either all vouchers or only the audited vouchers.
Under Verification of Stock Items, the facility is provided to verify the stock items and mark the verification status as On Hold or Verified by entering the verification note.
Facility of saving single or multiple vouchers for audit using Alt+F9: Audit button just by keying enter is provided.
In all the Master Configuration reports the F4: Group button is provided to select the required group. On using Esc key from any of these reports, the Statutory Audit Configuration screen gets displayed for selecting the required Master Configuration. In all these reports, the buttons - F9: Inv Reports, F10: Acc Reports and F10: Audit Reports will be displayed in the vertical button bar for selecting the required reports.
Under Verification of Balances the Verification of Opening Balance report is provided to list all the ledgers with difference in balance. In this report, the verification note can be entered for the ledger master.
In F12: Configuration screen of Repeated Transactions report, the option - Show Repeated Transactions Ignoring is provided to sort the transactions by:
Date (Same Party or Value): The entries duplicate with same party and value gets listed.
Party (Same Date and Value): The entries duplicate with same date and value gets listed.
Value (Same Party and Date): The entries duplicated with same party and date gets listed.
Based on the parameter selected, the transactions will be sorted and displayed.
In Relative Size Factor (RSF) report, three new columns Highest Value, Average Count and Voucher Count are provided.
In the Ledger Voucher and Stock Voucher reports, the buttons - S: Set Manual Sampling and D: Delete Manual Sampling are provided. These buttons get displayed on selecting the vouchers to either mark it as manually sampled or delete the manual sampling.
The Verification of Vouchers is enhanced by defaulting the Party-wise (group/ledger-wise) verification of vouchers to Voucher Type-wise. It provides the Vouching facility to the Auditor by displaying all the transactions. The Auditor has the flexibility to audit all the transactions or apply the required sampling method and audit only the sampled transactions to form an opinion.
In the Pending Documents report, the facility is provided to sort the payables and receivables in increasing or decreasing order of Amount, Voucher Total and Party.
On applying Benford Sampling to Vouchers and viewing the Voucher Register from Verification of Vouchers report, the B: Benford Details button (Alt+B) gets displayed. The Benford Details report is introduced to provide the sampling details or summary on using this button. The Benford Details screen shows details pertaining to the count of sampled and total vouchers, frequency of occurrence with the percentage of actual and expected, percentage of difference and information on positive and negative variance.
In the Ledger Balance Variance report of Verification of Balances, the option - Show ledgers with variance is enhanced by providing filters for Amount or Percentage with Equal To, Greater Than and Less Than range in the F12: Configuration. This can be applied to filter the variance based on amount or percentages by selecting the required range.
In the Verification of Chart of Accounts, the Verification status - Accounts Squared-off During the Year is introduced. The ledger accounts which are used in transactions but do not have any opening or closing balance gets listed with this status.
In Verification of Vouchers report, the count of inventory vouchers audited or marked with required audit status gets added to the existing count and the same will be reflected in the drill down reports generated for the respective audit status.
The Audit Status - Unknown is renamed to On Hold.
In the Audit Journal, option to filter for specific audit journal or all and export those transactions along with any new master created in XML format so that the same can be imported by the client is provided.
The Auditing and Assurance Standard Checklist is provided under Audit Documentation to mark the applicability of auditing and assurance standards, compliance and remarks.
The Accounting Standards Checklist is provided under Audit Documentation to mark the accounting standards, compliance and remarks.
Under Verification of Vouchers the facility is provided to select Manually Sampled Vouchers and display all them in Voucher Register. On selecting these voucher(s) the button - F10: Remove Audit (Ctrl+F10) gets activated. Using this button all the manually sampled can be restored to default status.
In the F12: Configuration screen of Verification of Chart of Accounts, Verification of Stock Item, Balance Variance and Verification of Opening Balance report of Verification of Balances, the option - Show Vouchers of Audit Status is provided to filter the transactions by the Audit Status - On Hold, Verified and Altered. Based on the filter selected the transactions will get listed.
In the drill down report of Sampled column viewed from Verification of Vouchers report, the Voucher Register gets displayed based on the Sampling Method with percentage of sampling over total vouchers and percentage of audited voucher over total vouchers.
In the Audit Program report, the column Approved By is provided to enter the approver’s details.
The menu option Statutory Audit Info, Tax Audit Info and Compliance Info of Statement of Accounts, are brought under single menu called Audit and Compliance Info.
The alignment of text in changed in F5: Audit Features screen for a better user experience.
In the Schedule Number Configuration screen, Notes to Accounts is provided under Schedule VI Header to enter the schedule number. The number entered here gets printed at the bottom of Schedule VI Balance Sheet and Profit & Loss Account.
In the Print Report screen of Schedule VI Balance Sheet, the field - Note to Statement is provided with the text - The schedules referred to above and notes to accounts form an integral part of the Balance Sheet. This note gets printed in the Schedule VI Balance Sheet on setting the option - Print Notes to Schedule to Yes. It can be altered on enabling the option - Print Balance Sheet along with Signature.
1. General Issues
More time was being consumed to load a company from the list of companies in a network path.
This issue has been resolved.
During logical data migration the Entered by name of all migrated vouchers was getting changed to Admin User when Tally Audit was enabled.
This issue has been resolved.
The export of data to the network path was failing but on specifying the folder in the network path the data was getting exported.
This issue has been resolved.
While importing the data with blank bill references to a company having bill reference details in ledger master in XML format, if the option - Combine Opening Balances was selected, the existing reference details were being deleted.
This issue has been resolved.
The application was crashing if the Add-on Help File was opened while updating license.
This issue has been resolved.
The Product Help was displaying only one add-on when there were two add-ons.
This issue has been resolved.
In the Delivery Note displayed in alteration mode from Statistics report of Statement of Accounts menu, if the A: Accept button was used to save the entry, the error message - Memory Access Violation was being displayed.
This issue has been resolved.
2. Functional Issues
The key combination Alt+R used to recall the last narration saved for the first ledger was not working properly.
This issue has been resolved.
In Day Book, the option to sort entries in increasing or decreasing order of voucher numbers was not being displayed in the list of Sorting Methods in F12: Configuration.
This issue has been resolved.
In the Bank Reconciliation screen displayed for a particular period if the option - Show Reconciled Transactions also was set to Yes in F12: Configuration, the vouchers of that particular period along with entries of other months were being displayed.
This issue has been resolved.
In the Duty Details screen of journal voucher recorded for adjusting CENVAT credit, the bills already adjusted were being displayed along with unadjusted bills if the CENVAT Helper button was not used.
This issue has been resolved.
On selecting party ledger in excise debit note for recording purchase returns, the Company’s Range, Division and Commissionerate details were being displayed in the Party Details screen.
This issue has been resolved.
In the Daily Stock Register generated for multiple stock items, the closing balance of a particular month was not being displayed as the opening balance of the subsequent month.
This issue has been resolved.
The reference details of job work order were not being displayed after rewrite of data.
This issue has been resolved.
The net salary of employees was being calculated incorrectly on defining more than one HRA pay head in a company.
This issue has been resolved.
In a sales invoice recorded to adjust the advance received, the Service Tax Realisation screen was not being displayed if the method of adjustment was not selected as advance in the Service Tax Details screen of receipt voucher.
This issue has been resolved.
On navigating to PAN Not Available report from Exception Reports, the error message - Memory Access Violation was being displayed.
This issue has been resolved.
In a journal entry, when TDS expenses were accounted by adjusting the advance payments, only the net payable amount was being displayed in place of total expense amount.
This issue has been resolved.
3. Auditors’ Edition
On loading a company consisting of two years data, the explode values of previous year were not being displayed in the Financial Statements.
This issue has been resolved.
The audit period of Audit Programme was not changing as per the Company Data period.
This issue has been resolved.
The F5: Item-wise button was being displayed in all the drill down status reports of Verification of Stock Items.
This issue has been resolved.
In the Micro, Small & Medium Enterprises and Related Party Configuration reports, the A: Accept button (Ctrl+A) was being displayed.
This issue has been resolved.
In Schedule VI Balance Sheet, the drill down report of the exception - Cash Account is having -Ve Balance was displaying the Verification of Balances report and not the Daily Break-up of Ledger with negative cash balance.
This issue has been resolved.
In Verification of Chart of Accounts, if the ledger status was set to Revenue Ledgers Having Opening Balances in F12: Configuration to display the revenue ledgers, the previous year values were not being displayed.
This issue has been resolved.
In Micro, Small & Medium Enterprises Configuration, the overdue days’ count of few transactions was not being displayed. Also there was a mismatch in the overdue days count displayed between the locally and remotely accessed data.
This issue has been resolved.
In the Ledger Balance Variance report of Verification of Balances, the option - Show ledgers with variance set to filter Less Than range in the F12: Configuration was not working properly.
This issue has been resolved.
In Verification of Chart of Accounts and Verification of Stock Items, if the ledger status was set to Not Used in Current Year in F12: Configuration the Voucher Date was not being displayed.
This issue has been resolved.
In Verification of Chart of Accounts, the filter - Not Available in Current Year was not being listed in Show Ledgers having Status field of F12: Configuration.
This issue has been resolved.
In the Repeated Transactions report, the option - Show Amount set to filter Amount with Less Than range in the F12: Configuration was not working properly. Also after exit from the report using Esc key to remove the filter, the original details were not being displayed.
This issue has been resolved.
The count of manually sampled vouchers was not being displayed in Sampled column of Verification of Vouchers.
This issue has been resolved.
The Audit Status and Audit Note entered while auditing the transactions in Ledger Vouchers was not being displayed after audit.
This issue has been resolved.
In Periodic Ledger Monthly Summary of Periodic Payments and Receipts report, the value of Total Amount and Total Vouchers count under Variance column was being displaying incorrectly.
This issue has been resolved.
While performing audit of transactions for the second time in the Ledger Vouchers report of Periodic Payments and Receipts and Repeated Transactions, the cursor was getting stuck in Audit Details screen.
This issue has been resolved.
In Verification of Chart of Accounts, Verification of Balances, Verification of Stock Items and Periodic Payment reports, the current year date of last entry was being considered as the audit period for reporting the previous year details.
This issue has been resolved and the last date of entry of previous year audit period is considered for reporting the current year details.
The audit period of Audit Programme was not changing as per Audit & Analysis audit period.
This issue has been resolved.
In Form No. 3CB, the text of third paragraph (point 3b) was positioned incorrectly.
This issue has been resolved.