Tally.ERP 9 Auditors’ Edition - rksolution.co.in

Tally.ERP 9

-

Auditors’ Edition

Your Questions... Answered !

The information contained in this document is current as of the date of publication and subject to change. Because Tally must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Tally, and Tally cannot guarantee the accuracy of any information presented after the date of publication. The information provided herein is general, not according to individual circumstances, and is not intended to substitute for informed professional advice. The latest and most relevant information is available ion the Tally.ERP 9 CD or visit www.tallysolutions.com This document is for informational purposes only. TALLY MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS DOCUMENT AND SHALL NOT BE LIABLE FOR LOSS OR DAMAGE OF WHATEVER NATURE, ARISING OUT OF, OR IN CONNECTION WITH THE USE OF OR INABILITY TO USE THE CONTENT OF THIS PUBLICATION, AND/OR ANY CONDUCT UNDERTAKEN BY PLACING RELIANCE ON THE CONTENTS OF THIS PUBLICATION. Complying with all applicable copyright and other intellectual property laws is the responsibility of the user. All rights including copyrights, rights of translation, etc., are vested exclusively with TALLY SOLUTIONS PRIVATE LIMITED. No part of this document may be reproduced, translated, revised, stored in, or introduced into a retrieval system, or transmitted in any form, by any means (electronic, mechanical, photocopying, recording, or otherwise), or for any purpose, without the express written permission of Tally Solutions Pvt. Ltd. Tally may have patents, patent applications, trademarks, copyrights, or other intellectual property rights covering subject matter in this document. Except as expressly provided in any written licence agreement from Tally, the furnishing of this document does not give you any licence to these patents, trademarks, copyrights, or other intellectual property. © 2009 Tally Solutions Pvt. Ltd. All rights reserved. Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP 9, Shoper, Shoper 9, Shoper POS, Shoper HO, Shoper 9 POS, Shoper 9 HO, TallyDeveloper, Tally Developer, Tally.Developer 9, Tally.NET, Tally Development Environment, Tally Extender, Tally Integrator, Tally Integrated Network, Tally Service Partner, TallyAcademy & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners. Version: Tally.ERP 9 - Auditors’ Edition - FAQ/3.0/Nov 2009

Tally.ERP 9 - Auditors’ Edition

FAQs

Business Advisory Program 1. Who can and how do we register for the BAP (Business Advisory Program)? .....................................................................1 2. How will I be benefited from the BAP (Business Advisory Program)? ..........................................................................1

Registration & Licensing 3. If I already have an earlier version of Tally and now want to buy a Tally.ERP 9 package, what do I do? And, if I have used my FRN (Firm Registration Number) or COP (Code of Practice) to download a temporary version of Tally.ERP 9 – Auditors’ Edition, can I still register for BAP to buy a new Tally.ERP 9 – Auditors’ Edition license? .....................................................1 4. If I want an additional copy of Tally.ERP 9 – Auditors’ Edition license, is it issue-able? If yes, how do I go about it? ............2 5. If I want an additional Tally.ERP 9 – Auditors’ Edition license for my laptop and not for another office, can I have one? .........2 6. If I do not have a Partner and still want another Tally.ERP 9 – Auditors’ Edition license for my laptop, what do I do? .............2

Additional Information 7. Will the new feature ‘query through SMS’ in Tally.ERP 9 be helpful for me? If yes, how? .......................................................3 8. What would I get if I recommend my clients to use licensed Tally.ERP 9? ......................................................................3 9. Can I pay in installments? ..................................................3 10. When will remote voucher-edit be available? .......................3 11. How can I get information regarding enhancements in new releases of Tally.ERP 9 - Auditors’ Edition? ..........................4 12. What do I need to do if my Tally.ERP 9 license goes into education mode? ....................................................................5 13. How will I update my existing Tally.ERP 9 with the new product releases? ......................................................................5 14. Is e-TDS supported in Tally.ERP 9? ....................................6 15. Does Tally.ERP 9 provide e-VAT filing facility? .....................6

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Features 16. What are the features available in Tally.ERP 9 – Auditors’ Edition as of now (Aug 2009)? ....................................................7 17. Which clauses under 44AB are covered in the audit tool of Tally.ERP 9 - Auditors’ Edition? ...........................................7 18. How will the Tax Audit tool help me with my practice? ..........7 19. Are there any extra functions of Form 3CD in Tally.ERP 9 – Auditors’ Edition (which MS excel doesn’t have)? ....................8 20. What are the features in Tally.ERP 9 – Auditors’ Edition planned for the near future? .....................................................8 21. Can I delete the comments made on the client’s data after the audit is completed? ........................................................8 22. Can I give a print command from my office and the client’s (sitting in another office) printer prints the document? .............9

Data 23.

Do all my clients have to upgrade to Tally.ERP 9? I usually get data which is generated by earlier versions of Tally. ...........9

24.

Will my client’s data be available for the IT department as I’m able to access the same remotely? ...................................9

25. If my client is working on Tally 9 and doesn’t want to move to Tally.ERP 9, can I audit his data in Tally.ERP 9 – Auditors’ Edition? Can the audited data be converted to Tally 9 data by the client? ..........................................................................9 26. How can I convert (client) data from earlier versions of Tally (5.4/6.3/7.2/9) to Tally.ERP 9? ........................................9 27. After upgrading to Tally.ERP 9, can I continue to work on earlier versions of Tally simultaneously? .................................... 10 28. How can I export Tally.ERP 9 data to MS Excel? ................. 10 29. How can I lock my client’s data from further alterations while audit is in progress or it is completed? ............................ 11 30. Will I be able to reset my password for the Security Controls? .12

Tally.NET 31. How will I assign Tally.NET Auditor/User passwords to my Partners/staff/Articles? ....................................................... 13 32. How many Tally.NET Auditors/users can I create? .............. 13

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33. If my client is giving me the Tally.NET (remote) access, do I have to provide my Tally.NET password to the client? ........ 13 34. If I give the client my Tally.NET ID can he access my data? . 13 35. While doing remote access, if the power fails or internet is disconnected, what can be done? ....................................... 13 36. How will I know that my Client’s company is online? .......... 14 37. While I am accessing my client’s data remotely, will his system be prone to viruses? ..................................................... 15 38. My Client is on an earlier release of Tally.ERP 9 and I am on the latest release of Tally.ERP 9 (or vice versa), will I be able to access my client’s data remotely? ...................................... 16 39. Can multiple Article clerks access the same client’s data remotely? .............................................................................. 16 40. Can I access my own company data remotely? .................. 16 41. Can I access my client’s data even if I’m abroad? .............. 16 42. When I am accessing my client’s data from my office, do I need to be connected to internet all the time? .......................... 16 43. Can I perform Tax Audit & Statutory Compliance from my Client’s place? ................................................................. 16 44. If I am accessing my client’s data from the client’s place for Tax Audit & Statutory compliance should the Internet connection be on all the time? ............................................................ 17

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FAQs

Tally.ERP 9 - Auditors’ Edition FAQs Business Advisory Program Q1:Who can and how do we register for the BAP (Business Advisory Program)? Ans: All Practicing Chartered Accountants are eligible to register for BAP. To register, a practicing CA should provide his COP (Certificate of Practice) while filling the form. Visit www.tallysolutions.com/register.

Q2:How will I be benefited from the BAP (Business Advisory Program)? Ans: By registering to BAP, you get to use the audit tools in Tally.ERP 9 – Auditors’ Edition. These tools will help you save time and cost while practicing and add new services to your portfolio. Hence, increase your revenue.

Registration & Licensing Q3:If I already have an earlier version of Tally and now want to buy a Tally.ERP 9 package, what do I do? And, if I have used my FRN (Firm Registration Number) or COP (Code of Practice) to download a temporary version of Tally.ERP 9 – Auditors’ Edition, can I still register for BAP to buy a new Tally.ERP 9 – Auditors’ Edition license? Ans: There are 2 scenarios: 1. You already have an earlier version of Tally – In this case, you have to upgrade the same to Tally.ERP 9 - Auditors’ Edition (free upgrade is provided for Tally 6.3/7.2/8.1/9 users). 2. You already have earlier version of Tally and want a separate, new license of Tally.ERP 9 – In this case, if you want a new package, the earlier version will not be upgraded to Auditors’ Edition and you need to pay Rs. 8100/- and purchase Tally.ERP 9 - Auditors’ Edition. The new BAP registration form (www.tallysolutions.com/register) is designed in such a way that, if you had registered for a temporary license 1

FAQs


earlier, and now fill in your FRN/COP to register for a new package, your details will automatically be fed into the form.

Q4:If I want an additional copy of Tally.ERP 9 – Auditors’ Edition license, is it issue-able? If yes, how do I go about it? Ans: Additional copy of Tally.ERP 9 - Auditors’ Edition will be issued to firms with more than one branch having an additional partner with Valid COP (Certificate of Practice). You need to send the required information in the Additional License Request Form available at www.tallysolutions.com. (Home › Products › Tally.ERP 9 - Auditors' Edition › Additional copies)

Q5:If I want an additional Tally.ERP 9 – Auditors’ Edition license for my laptop and not for another office, can I have one? Ans: Yes, you can have an additional license with your Partner’s COP

Q6:If I do not have a Partner and still want another Tally.ERP 9 – Auditors’ Edition license for my laptop, what do I do? Ans: If you want to just view the data remotely: As the remote Audit capability (wherein you can access your Audit & Compliance from anywhere through internet) is possible even in an Education version of Tally.ERP and hence an additional License is not required for your laptop. If you want to audit (edit) the client data available on your laptop: With licensed Tally.ERP 9 Silver on your laptop, you can obtain your Auditors’ License remotely and perform the Audit & Compliance services as if you are sitting at your office itself. Internet connection is needed in this scenario. Note: Tally.ERP 9 – Auditors’ Edition comes in a Multi-user version only i.e. Gold version.

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Additional Information Q7:Will the new feature ‘query through SMS’ in Tally.ERP 9 be helpful for me? If yes, how? Ans: It will certainly be helpful. You can get your company information by sending an SMS while you have no access to a computer. This will help you keep a tab on your company’s financial status.

Q8:What would I get if I recommend my clients to use licensed Tally.ERP 9? Ans: By referring your clients to use Tally.ERP 9, there are 2 benefits: 1. You will be able to audit your client’s data without having to visit the client every time. 2. The client’s business not only will get the Tally advantage, he will also be able to get continuous compliance services at an affordable price without you having to visit him every time.

Q9:Can I pay in installments? Ans: No. This facility is not available.

Q10: When will remote voucher-edit be available? Ans: By the last quarter of 2009.

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Q11: How can I get information regarding enhancements in new releases of Tally.ERP 9 - Auditors’ Edition? Ans: You can visit our website www.tallysolutions.com and review the ‘Website Updates’ section on the homepage.

Figure 1. Website update section

You can also download the latest Release Notes available at the ‘Download Centre’ on our website which will provide a comprehensive list of enhancements and issues that have been resolved.

Figure 2. Release Notes link on the website

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Q12: What do I need to do if my Tally.ERP 9 license goes into education mode? Ans: Execute the following steps to resolve the issue: Tally.ERP 9 – Auditors’ Edition Check the following on your license server machine: 1. System Date and Time of the License Server machine 2. License file availability 3. Re-start License Server If all the 3 above are correct, re-activate your license from the product interface.

Client Machines. Check the following on the client machines: 1. Check/Configure License path (Tally.ini settings) 2. Check for valid IP Configuration 3. Ping the Server and check for the connectivity 4. Check whether Tally License Server is running using the Tally Admin tool 5. Firewall might be blocking the License 6. Check the Proxy settings Alternately, you can contact the BAP helpdesk at 1800-425-8227 or email at [email protected]

Q13: How will I update my existing Tally.ERP 9 with the new product releases? Ans: All that you need to do is download the latest setup files (Installer) available at the ‘Download Centre’ of our website and install it in the same folder where Tally.ERP 9 is currently installed on your computer. For Statutory changes (e.g. change in Service Tax rate), you need to overwrite the Stat.900 file available in the default Tally.ERP 9 folder by downloading the latest Stat.900 from the Download Centre on our website; www.tallysolutions.com.

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Figure 3. Dowload Center on Tally website

Q14: Is e-TDS supported in Tally.ERP 9? Ans: Tally.ERP 9 supports filing of e-TDS returns.

Q15: Does Tally.ERP 9 provide e-VAT filing facility? Ans: Yes, Tally.ERP 9 supports e-VAT filing for the following states: Gujarat Karnataka Kerala Maharashtra Punjab Rajasthan Tamil Nadu Uttar Pradesh West Bengal

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Features Q16:What are the features available in Tally.ERP 9 – Auditors’ Edition as of now (Aug 2009)? Ans: Tally.ERP 9 – Auditors’ Edition consists of the following features: Audit tool for Tax Audit under section 44AB of IT act. Form 3CD with Annexure I & II Statutory and Compliance services tool to provide regular compliance services

Q17:Which clauses under 44AB are covered in the audit tool of Tally.ERP 9 - Auditors’ Edition? Ans: The Audit tool of Tally.ERP 9 – Auditors’ Edition covers Clauses: TABLE 1.

S.No

Clause Name

3CD Clause No.

Cash payments u/s 4o (3)

Clause 17 (h)

2.

Loans / Deposits Accepted

Clause 24(a)

3.

Loans / Deposits Repaid

Clause 24(b)

4.

Payroll

Clause 16

5.

Tax Deducted at Source

Clause 27

6.

Tax Collected at Source

Clause 21

7.

Service Tax

Clause 21

8.

Value Added Tax

Clause 21

9.

Employee’s Contribution

Clause 21

10.

Payments to Specified Persons u/s 40A2(b)

Clause 18

11.

Fringe Benefits Tax

Annexure II

1.

Q18: How will the Tax Audit tool help me with my practice? Ans: Benefits of Tax Audit and Statutory Compliance tools: Increases the audit efficiency

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Extracts the financial and quantitative information required for Audit. Encourages you to offer their services to more clients Lowers the cost to deliver services Above all the capability of working remotely reduces the time enormously.

Q19: Are there any extra functions of Form 3CD in Tally.ERP 9 – Auditors’ Edition (which MS excel doesn’t have)? Ans: The advantages of Form 3CD in Tally.ERP 9 – Auditors’ Edition are: The filled Form 3CD will get saved along with the company data for each company and hence available for reference next year. There is no need to save Form 3CD separately in an Excel sheet or any other format. The entire Form 3CD can be copied from one company to different companies and hence time can be saved by eliminating data entry. Customized texts (auto text) which are commonly used are automatically generated while filling the Form 3CD to reduce the time to enter information.

Q20: What are the features in Tally.ERP 9 – Auditors’ Edition planned for the near future? Ans: The following features/ enhancements are planned in the near future: Audit tool for Statutory Audit as per Companies act 1956. TDS compliance in the Statutory Compliance tool

Q21:Can I delete the comments made on the client’s data after the audit is completed? Ans: Yes.

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FAQs

Q22:Can I give a print command from my office and the client’s (sitting in another office) printer prints the document? Ans: No.

Data Q23:Do all my clients have to upgrade to Tally.ERP 9? I usually get data which is generated by earlier versions of Tally. Ans: To use the Audit and Compliance features at your office or remotely, the Clients should upgrade to Tally.ERP 9.

Q24:Will my client’s data be available for the IT department as I’m able to access the same remotely? Ans: NO. The data can be accessed only by providing the required username and password. Without the required username which is authorized by the Client, no one can even find whether the Company is connected or not.

Q25: If my client is working on Tally 9 and doesn’t want to move to Tally.ERP 9, can I audit his data in Tally.ERP 9 – Auditors’ Edition? Can the audited data be converted to Tally 9 data by the client? Ans: You can convert your client’s data to Tally.ERP 9 data and audit but the audited data cannot be converted back to Tally 9.

Q26:How can I convert (client) data from earlier versions of Tally (5.4/6.3/7.2/9) to Tally.ERP 9? Ans: Data conversion process for each Version is explained below: Tally 5.4 – you have to rewrite the Tally 5.4 data in Tally 7.2. Now that the data is converted to Tally 7.2, follow the next step to convert this to Tally.ERP 9 Tally 6.3/ 7.2 – you have to use the Migration tool available in the Tally.ERP 9 installation folder to convert the data to Tally.ERP 9 data.

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Tally 9 – you have to rewrite the Tally 9 data in Tally.ERP 9.

Figure 4. Tally.ERP 9 Migration Tool

Q27: After upgrading to Tally.ERP 9, can I continue to work on earlier versions of Tally simultaneously? Ans: You can simultaneously use Tally.ERP 9 with the earlier versions of Tally (Tally 7.2 and Tally 9) for 45 days from the date Tally.ERP 9 is activated.

Q28: How can I export Tally.ERP 9 data to MS Excel? Ans: All the Reports in Tally.ERP 9 can be exported to Excel by clicking on the Alt+E: Export button from the respective reports. To Export the Balance Sheet to MS Excel, follow the steps given: Go to Gateway of Tally > Balance Sheet > Press Alt+E or Click on E: Export Enter the required details in the Exporting Balance Sheet screen.

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The Exported Balance Sheet appears as shown:

Figure 5. Exported Balance Sheet

The Exported Balance Sheet will be available in the default Tally.ERP 9 folder.

Q29: How can I lock my client’s data from further alterations while audit is in progress or it is completed? Ans: You can suggest the Client to Disallow the alteration of back dated Vouchers by modifying the Security Types for all the Users who have the access to this company data while audit is in progress or is completed. To change the Security level, Go to Gateway of Tally > Alt+F3: Company Info > Security Control > Types of Security

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Modify the required Security level as shown:

Figure 6. Setting Security Control for Voucher Alteration

Once the Client changes the Security Levels for all users as shown above, they won’t be able to modify any transactions prior to that date.

Q30:Will I be able to reset my password for the Security Controls? Ans: If you want to change your Security Controls password: The administrator will be able to change your Security Controls password. While changing it, you will have to provide your old password. If you do not want to have Security Controls any more: The administrator can disable the Security Controls whenever it is not required. While doing this you will have to provide the old password. If you have forgotten your password and want to reset it: If you have forgotten your old password, you will not be able to reset it. Therefore, the initial password given while configuring your company should not be forgotten at any cost. If you do, the data will be inaccessible.

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Tally.NET Q31: How will I assign Tally.NET Auditor/User passwords to my Partners/staff/Articles? Ans:Once you add your Partner/Staff/Articles as Tally.NET Auditor/User, the passwords will be emailed to their respective Email IDs. Note: To create Tally.NET Auditor/User, go to Control Centre > My Tally.NET Accounts > User Management

Q32:How many Tally.NET Auditors/users can I create? Ans: For each Tally.ERP 9 - Auditors’ Edition License, you can create 10 Tally.NET Auditors/Users. Note: Same Tally.NET Auditor ID can be used by more than one article clerk at the same time with the provided username and password.

Q33:If my client is giving me the Tally.NET (remote) access, do I have to provide my Tally.NET password to the client? Ans: There is no need for you to provide your Tally.NET password to your client to enable him to allow you remote access to his data.

Q34:If I give the client my Tally.NET ID can he access my data? Ans: The Client cannot access your data only by using your Tally.NET ID. He would also require your Tally.NET password to access your data.

Q35:While doing remote access, if the power fails or internet is disconnected, what can be done? Ans: In both the scenarios, you would need to re-login as a Remote User to continue accessing the Company data remotely. If the power fails or the Internet is disconnected at the Client’s end then, the client will need to reconnect the Company to Tally.NET before you can access the same.

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Q36:How will I know that my Client’s company is online? Ans: When you Log in as a Remote User to Audit your Client’s data, the list of companies that are Online and Offline are displayed.

Figure 7. Company Login Screen

Press Enter on Login as Remote User

Figure 8. Remote Login Screen

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Enter the Tally.NET Auditor username and password

Figure 9. List of Remote Companies

The Companies which are available for remote Audit are listed under Online Companies. Note: The companies which have given access to you for Remote Auditing but are not connected, are listed under Offline Companies.

Q37:While I am accessing my client’s data remotely, will his system be prone to viruses? Ans: There are two aspects of this question - one, will any virus or other malware get transmitted from my system to my clients system and vice versa? Two, will my machine be prone to such issues from the Internet? In the first case, the answer is no. Only encrypted data is transferred between the systems, and this transfer is managed via our secure Tally.NET servers. So, no, there is no risk in this case. In the second case, the usual risks of the Internet will apply. Here too, since no port is open and listening for commands, the risk is zero. We recommend that standard precautions are followed while using the Internet.

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Q38:My Client is on an earlier release of Tally.ERP 9 and I am on the latest release of Tally.ERP 9 (or vice versa), will I be able to access my client’s data remotely? Ans: It is recommended that both you and your client should be using the latest release of Tally.ERP 9 for flawless remote access. Note: If you are trying to remotely access your Client’s data having a different Release of Tally.ERP 9, you may not be able to connect.

Q39:Can multiple Article clerks access the same client’s data remotely? Ans: Yes, multiple article clerks can access the same client’s data remotely.

Q40:Can I access my own company data remotely? Ans: Yes, you can access your Company data remotely.

Q41:Can I access my client’s data even if I’m abroad? Ans: Yes, you can access your Client’s data remotely from anywhere in the world (whether from India or Abroad).

Q42:When I am accessing my client’s data from my office, do I need to be connected to internet all the time? Ans: While accessing the Client data locally from your office you don’t have to be connected to the Internet.

Q43:Can I perform Tax Audit & Statutory Compliance from my Client’s place? Ans: Yes, you can perform Tax Audit & Statutory Compliance from your Client’s place. The Client should have authorized you (given permission) as a Tally.NET Auditor for his Company. In this scenario, Tally.NET is used to authenticate (verify) your username and password, and give you the access to your Tally.ERP 9 - Auditors’ Edition License, through the Client’s Tally.ERP 9. You can then open the client’s Company and perform Audit as if you were auditing from your office. To do this, an Internet Connection is required during the authentication process.

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Q44:If I am accessing my client’s data from the client’s place for Tax Audit & Statutory compliance should the Internet connection be on all the time? Ans: While accessing the Client’s data at Client’s place, Internet is required only for Authentication (verifying your Tally.NET username and password). Once the Authentication is completed, you can disconnect from the Internet.

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Tally.ERP 9 Auditors’ Edition - rksolution.co.in

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