CA Audit Tips and Tricks For Tally Users

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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.
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Internal Quick Audit
Trend Analysis Use the 'Profit and Loss Report'
to check for major amount changes on a monthly
basis.
Exception Reports Analyze negative stocks and
ledgers and use High/Low Analysis to sort
transactions.
New TallyPrime 3.0 Filters Explore the new fields
introduced in TallyPrime 3.0 Filters to enhance
your auditing process.
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Trend Analysis in Detail
Monthly Comparison Check for any significant
changes in profit and loss on a monthly basis to
ensure accurate data entry.
Visual Reports Visual representations help in
identifying discrepancies and trends effectively.
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Exception Reports in Practice
Wrong Values Analyze negative stocks and ledgers
to identify erroneous entries.
High/Low Analysis Use the Day book report to sort
transactions based on amounts.
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New Fields in TallyPrime 3.0
Order No. Easily track order numbers for
efficient auditing procedures.
Ledger Description Enhanced visibility with
detailed ledger descriptions for improved
auditing.
Consignee State Track consignee state information
to streamline auditing processes.
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Auditor's Role in Data Verification
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Responsibility Identify discrepancies and verify
data accuracy.
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Verification Thoroughly analyze records to ensure
compliance and accuracy.
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Efficiency Use advanced Tally features to
streamline the auditing process.
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Key Tips for Efficient Auditing
Utilize Trend Analysis Use visual depth and
insights provided by the Profit and Loss Report.
Master Exception Reports Identify and rectify
wrong values to maintain data integrity.
Leverage New Filters Take advantage of the new
TallyPrime 3.0 Filters for an efficient auditing
experience.
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Day Book Report
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Step 1 Generate the Day Book Report to access
all financial transactions.
Step 2 Apply the F12 Configuration to sort
transactions based on amounts.
Step 3 Analyze the sorted transactions for
auditing purposes.
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Advanced Audit Practices
Data Verification
Use advanced Tally features to ensure accurate
data.
Efficiently identify discrepancies with detailed
exception reports.
Error Identification
Streamline the compliance checking process with
the new Filters feature.
Compliance Check
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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.
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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 gt Select Period gt Uncertain
Transaction to import the whole GSTR2A for
reconciliation.
3. Expenses without GST
Go to Group vouchers gt Indirect expenses gt Apply
filters gt Multi-filter gt Field gt Ledger name gt
Not containing gt GST. To identify incorrect
entries lacking GST and rectify them.
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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 gt Sales Voucher gt Apply
filter gt Multi-filter gt Party GSTIN gt Containing
gt unregistered. To view the complete list of
sales vouchers with unregistered parties.
6. Discount Given more than 10
Go to Statistics report gt Sales register gt Apply
filter gt Multi-filter - Discount gt Greater than
gt 10 gt enter. Utilize this Statistics report to
check for wrongly levied discounts exceeding a
certain percentage.
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7. Transactions Recorded on Sunday
Navigate to the Day Book report gt Period gt CTRL F
gt Type Sunday. To locate transactions recorded on
Sundays.
8. Within State Sales
Access the Sales Register gt Apply filter gt
Multi-filter gt Party State gt Containing gt Example
- Maharashtra. To view all the sales data done
within a specific state.
9. Interstate Sales with CGST/SGST
Go to Sales Register gt Apply filter gt
Multi-filter gt Party state gt Not containing gt
Maharashtra and second filter will be Ledger
name gt Containing gt CGST. To view sales entries
outside the state with CGST and SGST.
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