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CA Audit Tips and Tricks For Tally Users

Are you a Tally user looking to enhance your auditing skills? Our latest blog is packed with tips and tricks to help you navigate through common audit queries with ease. Discover how to identify mistakes in your data before handing it over to an auditor using features like trend analysis and exception reports. Learn about trend analysis, exception reports, and high/low analysis techniques to pinpoint discrepancies quickly and efficiently.

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CA Audit Tips and Tricks For Tally Users

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  1. CA Audit Tips And Tricks For Tally Users Tally users with advanced skills are valuable assets for businesses. This summarizes advanced Tally features related to CA auditing and offers solutions to common audit queries. - By Antraweb Technologies Pvt. Ltd.

  2. Internal Quick Audit 1 2 3 Trend Exception New TallyPrime Analysis Reports 3.0 Filters Use the 'Profit and Loss Report' to check for major amount changes on a monthly basis. Analyze negative stocks and ledgers and use High/Low Analysis to sort transactions. Explore the new fields introduced in TallyPrime 3.0 Filters to enhance your auditing process.

  3. Trend Analysis in Detail Monthly Comparison Visual Reports Check for any significant changes in profit and loss on a monthly basis to ensure accurate data entry. Visual representations help in identifying discrepancies and trends effectively.

  4. Exception Reports in Practice Wrong Values High/Low Analysis Analyze negative stocks and ledgers to identify erroneous entries. Use the Day book report to sort transactions based on amounts.

  5. New Fields in TallyPrime 3.0 Order No. Ledger Description Consignee State Easily track order numbers for efficient auditing procedures. Enhanced visibility with detailed ledger descriptions for improved auditing. Track consignee state information to streamline auditing processes.

  6. Auditor's Role in Data Verification Responsibility 1 Identify discrepancies and verify data accuracy. 2 Verification Thoroughly analyze records to ensure compliance and accuracy. 3 Efficiency Use advanced Tally features to streamline the auditing process.

  7. Key Tips for Efficient Auditing Utilize Trend Analysis Master Exception Reports Leverage New Filters Use visual depth and insights provided by the Profit and Loss Report. Take advantage of the new TallyPrime 3.0 Filters for an efficient auditing experience. Identify and rectify wrong values to maintain data integrity.

  8. Day Book Report 1 2 3 Step 1 Step 2 Step 3 Generate the Day Book Report to access all financial transactions. Apply the F12 Configuration to sort transactions based on amounts. Analyze the sorted transactions for auditing purposes.

  9. Advanced Audit Practices Data Verification Use advanced Tally features to ensure accurate data. Error Identification Efficiently identify discrepancies with detailed exception reports. Compliance Check Streamline the compliance checking process with the new Filters feature.

  10. Troubleshooting Tips for Tally GST This guide provides intricate steps for resolving common GST-related issues in Tally. By following these expert instructions, accountants and auditors can enhance their efficiency and accuracy in GST compliance.

  11. 1. Sales Invoice in GSTR1 Access GSTR1 and select Uncertain Transaction to identify and reconcile discrepancies in sales entries. 2. Purchase Invoices in GSTR2A Go to GSTR2A > Select Period > Uncertain Transaction to import the whole GSTR2A for reconciliation. 3. Expenses without GST Go to Group vouchers > Indirect expenses > Apply filters > Multi-filter > Field > Ledger name > Not containing > GST. To identify incorrect entries lacking GST and rectify them.

  12. 4. Transactions with Specific GST Number Access the 'Day Book Report' and apply the GST number filter to locate relevant transactions. 5. Sales to Unregistered Parties Go to Statistics report > Sales Voucher > Apply filter > Multi-filter > Party GSTIN > Containing > unregistered. To view the complete list of sales vouchers with unregistered parties. 6. Discount Given more than 10% Go to Statistics report > Sales register > Apply filter > Multi-filter - Discount % > Greater than > 10 > enter. Utilize this Statistics report to check for wrongly levied discounts exceeding a certain percentage.

  13. 7. Transactions Recorded on Sunday Navigate to the Day Book report > Period > CTRL F > Type Sunday. To locate transactions recorded on Sundays. 8. Within State Sales Access the Sales Register > Apply filter > Multi-filter > Party State > Containing > Example - Maharashtra. To view all the sales data done within a specific state. 9. Interstate Sales with CGST/SGST Go to Sales Register > Apply filter > Multi-filter > Party state > Not containing > Maharashtra and second filter will be Ledger name > Containing > CGST. To view sales entries outside the state with CGST and SGST.

  14. Want to Explore more about Audit Tips And Tricks For Tally Users. Click on the Link below for the Full Blog & Website Visit CA Audit Tips And Tricks For Tally User Best Tally Software Support Customization & Solutions Provider

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