Introduction
As per MCA Notification, for all Companies registered with MCA, it is compulsory to maintain “Audit Trail” in their accounting software w.e.f. 1-Apr-2023.
However, before migrating to the Audit trail feature, one needs to know a few things which are very importa nt.
Course Objective
- Preparedness before migrating to Tally Prime Edit Log
- Changes in your Data Structure after migration to Audit Trail
- Need and consequences of these Changes in Data structure
- Things you need to follow to avoi d negative consequences of “Audit Trail”
Course Content
Understanding Audit Trails
- Concept of an audit trail
- Importance of audit trails in accounting and financial management
- Types of audit trails
Setting up Tally for Audit Trails
- Configuring Tally for audit trail functionality
- Enabling audit features
- User acces s and security controls
Exploring the New Audit Trail Features
- Detailed transaction tracking
- Real-time monitoring of changes
- Data integrity and error detection
- Advanced filtering and search capabilities
Transaction-Level Audit Trails
- Transaction audit trail overview
- Identifying and tracking changes in transactions
- Analyzing transaction modifications
- Reporting transaction-level audit trails
Ledger-Level Audit Trails
- Tracking changes in ledger accounts
- Analyzing ledger modifications
- Reporting ledger-level audit trails
Inventory-Level Audit Trails
- Inventory audit trail overview
- Monitoring changes in stock items and inventory levels
- Analyzing inventory modifications
- Reporting inventory-level audit trails
Compliance and Regulatory Requirements
- Understanding the role of audit trails in compliance
- Compliance with tax laws (e.g., GST, VAT, etc.)
- Meeting regulatory requirements for financial reporting
- Implementing best practices for audit trail management
Customizing Audit Trail Reports
- Generating customized audit trail reports
- Exporting audit trail data
- Integrating Tally audit trail data with other systems