CompuBal. Video Helps. 1. Introduction Video. 2. Permanent Information Video. a. Direct feeding Video. b. Import form Accounting software Video

Transcription

1 CompuBal Video Helps 1. Introduction Video 2. Permanent Information Video 3. Input of the data a. Direct feeding Video b. Import form Accounting software Video c. Feeding through Trial balance Video 4. Transfer of data to Video 5. a. Computation b. Depreciation Chart c. Return Form Tax Audit Report & Online Activity (Form 3CA/3CB - Form 3CD) Video 6 Reports Video

2 Introduction: CompuBal software is an easy, simple and time saving tool to Prepare Audit Report & Financial Statements. Data in financial statements is required for various purposes: Preparation of Computation Preparation of Income Tax Return Preparation of returns for ROC Features The entire above are prepared from the same data. Each above statement consumes time to prepare the required statement according to the requirement of law. CompuBal provides the facility to prepare the various statements by single input of data. CompuBal provides: o Preparation of Computation from the data feeded for preparation of BS, P&L. o Transfer the balance sheet and P&L data to ITR forms. o Transfer the 3CD details in other Information o Prepare form 23AC, 23ACA of ROC. 1. Once the Balance Sheet, Trading A/c and Profit and Loss A/c are fed by the user; all the relevant figures will be automatically transferred to the Return Form and computation. 2. There is option to transfer the following. Option can be selected as per requirement a. Computation b. Profit & Loss a/c and Balance Sheet c. Other Information (3CD) d. Depreciation chart (Form 3CD) 3. Two options are providing for preparing final accounts. Feeding through Trail Balance or direct feeding in BS, P&L, If Trial Balance is fed, then the Balance sheet, Profit & Loss A/c will be automatically prepared and vice versa. In feeding through Trial Balance, complete information relating to capital a/c, fixed assets cannot be provided and hence further detail has to be given in Fixed assets, capital a/c. Recommended to feed through Balance Sheet, Profit and Loss A/c, Capital A/c, Fixed Assets because in doing so the format of the accounts or statements will appear as per the needs of the user and not the software. Further, complete information can be input while entering through this option. 4. Some template (Formats) of Balance sheet are given. Before feeding any balance sheet you can import the template balance sheet. This will eliminate feeding of the items in the profit and loss a/c and balance sheet.

3 5. There is a facility to import the template of balance sheet of an assessee to another assessee. If the balance sheet of the two assessee s are similar then you can import the balance sheet without the numeric values. This is given in the permanent information. 6. To transfer data appropriately in Return Form, give correct group headings for accurate transfer of data. 7. You can prepare Audit Report, Notes on accounts etc. as word file. 8. Form 3CD: Following facilities are incorporate a. Annexure I generated automatically from Profit and Loss a/c and balance sheet. b. Accounting Ratios are calculated automatically (except Raw Material consumption). c. For convenience suggested answers are given for routine type of questions. Press F5 and select the appropriate option or enter it manually. More suggested answers can be added through setup. 9. Trial balance, Trading a/c, Profit And Loss a/c, Capital A/c, Balance Sheet, Fixed assets Chart, Balance Sheet Abstract, Cash Flow statement, Deferred Tax Liability can be prepared. TOP

4 PERMANENT INFORMATION Before preparation of financial statement, we have to fill permanent information:- 1. Here we will select option as per our requirement for preparation of financial statement. 2. You can select the Template of financial statement Click on Import From Template Here we provide two options for importing template (i) import from template (ii) import from client. There is a facility to import the balance sheet of an assessee to another assessee. If the balance sheet of two assessee are similar then you can import the balance sheet without the numeric values. For this purpose, Click on import from client, Fill the code of other party in Import from client and then click on import. Here we provide three types of templates. Select type of template as per your requirement.

5 3. There is option to transfer relevant data in the following. Option can be selected as per requirement Computation Balance Sheet and Profit & Loss a/c Other Information (3CD) Depreciation chart (Form 3CD) 4. For creation of accounts some feature provided in Account information. You can select the option of inner column, quantity column, previous year & schedule column by click the options. After filing the permanent information. We will prepare the financial statement. Here is three way to prepare financial statement in CompuBal (I)Tally import (II) Direct feeding in Trading A/c, Profit & loss A/c and Balance Sheet (III) Manual preparation of trial balance sheet TOP

6 DIRECT FEEDING IN TRADING A/C, PROFIT & LOSS A/C AND BALANCE SHEET 1. An item list has been provided that includes heads of the Return form and other common items. 2. For making any schedule, annexure or list double click or press F5 key in Amount column (current year). 3. If an item is fed is required as a heading, than after typing the item it will ask for group. Select **Item not transfer to return form from group list. It will be treated as heading. No figure can fed against this Heading. 4. If the existing item in the list is feed, then group name appears automatically for such items. But if the item is not in the list, then the user has to select the group. 5. When group selection window is open there is an option to save the item in Master. If an head is required to be fed in other files also, then the user may save that head in Master which otherwise is saved in User by default 6. If the selected group of an item is a head of the return form which require further subheads/bifurcations, then an annexure will be created automatically to further classify them according to the return form. 7. When an Annexure is created then only the Sub Group of that group will show in group list. 8. If you want to fed different group in one annexure select **Group Head(For Transferable Annexures) from group list. If you select Option to transfer automatically to return form you cannot feed any amount against it. But you can create a annexure for it or you can use the head as a Header. Insert 9. The user may anytime insert a row above or below the current row, delete any row by a right click on the required row. Delete/Modify Item 10. If an item is entered mistakenly, then either the row may be deleted(for this right click on the row to be deleted and select Delete this row ) and re-entered wherever required. 11. If spelling of any head is edit a message box will appear Do you want to rename ledger then press Ok else press cancel for create new ledger. It means if you want to correct the spelling press OK and if you want to create new head press cancel. Edit Group 12. The user may use the option Edit group to change the group of wrongly entered item. If group of an item in the annexure is Edit and the group belong to another annexure then it will be automatically transferred to the relevant Annexure or head. Example: In the Annexure for secured loans the item Ram &co. (Which belongs to Sundry creditors) is mistakenly entered then the user can edit the group name of this item and change it to sundry creditors.ram &co. will then be transferred automatically to sundry creditors. 13. If the annexure is prepare by pressing F5, than group cannot be changed. In such case, items have to be deleted in the annexure.

7 Merge Annexure 14. While preparing the Annexure there are 2 button Merge Annexure and Merge Annexure(Selected). By Merge Annexure all entries will merge in one upper level account. In other option Merge Annexure (Selected) selected entries can be merged (transfer) to one upper level. Other Features 15. Column Heading: Column headings can be changed. If you want to change Particulars to Receipts this can be done. Just click the heading to edit it. 16. Edit Group (single):-.the user may use the option Edit group to change the group. If group of an item in the annexure is Edit and the group belongs to another annexure then it will be automatically transferred to the relevant Annexure or head. Example: In the Annexure for secured loans the item Ram &co. (Which belongs to Sundry creditors) is mistakenly entered then the user can edit the group name of this item and change it to sundry creditors.ram &co. will then be transferred automatically to sundry creditors. 17. Sch.:- For making any schedule, annexure or list double click, press F5 key in Amount column. Put schedule no. in front of heading for which schedule is made. If you don t put schedule no., than it will treated as list/grouping. 18. Remarks: - For giving, any notes in financial statements. 19. Preview:-For seeing preview of trading account, profit and loss account and balance sheet. (A) Trading Account:- (B) Profit and loss Account

8 ( C) Balance Sheet: Show Group Name: : If we select in Permanent Information to transfer data for return form purpose, than this option may be ticked. A separate column will add containing Group name where the data will transfer to Return form in CompuTax. Grouping If user create new ledger, which is not from list, following screen will open.

9 In the above, here we provide three options for Groups and ledgers. Default groups and ledgers: - This option includes software in build (pre-defined) ledgers and it cannot be edit. User defined groups and ledgers: - By selecting this option Groups created by use will show. New ledger can be saved in User / Master. If it is saved as Master it can be used in other assesse file also. Any ledger saved in master, group of that ledger cannot be changed. All groups and ledgers: - Now select the group belonging to the ledger like- wages belongs to salaries and wages (Direct). TOP

10 TALLY IMPORT Tally import procedure:- (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) Click on tally import Go on tally Select company name Then display Open trial balance Press f5(this is must for correct transfer of trial balance) Press Alt+ E to Export Open list of accounts Press Alt + E to Export Open balance sheet, click on capital account Press F12 for following configuration(select the following configuration) (xi) (xii) Press Alt +E to Export Now browse the master.xml, trial.xml, capital.xml file in following screen (xiii) Click on start

11 (xiv) This screen shows the ledger accounts, where the balance is negative. Means Sundry creditors have debit balance. You can change the group, for these ledger, otherwise these ledger will show as negative balance. (xv) This screen shows the ledger account where groups for tax purpose cannot automatically allotted. If you want to transfer data in tax then select appropriate group and click on Next button otherwise press Skip button. (xvi) (xvii) After the above process final accounts in compubal will be prepared. TOP

12 Entry through Trial balance 1. Click on trial balance. 2. In Trial balance Following screen will be open. Steps:- Account Name: - user can select account name from list or can create new ledger. If user select ledger from list than return purpose group will automatically fill. If user create new ledger, which is not from list, it will ask for Return Purpose Group. After pressing enter key following screen will be come. In above screen for selection of group- Head are divided in trading account, profit & loss account, and balance sheet. First select the group belonging to the ledger like- Sale belongs to Trading- Sales Head All group of above are sub divided in sub groups Now select Group from sub group. For create this ledger for all parties select Master option else User than press Ok. Repeat Group:- If you are feeding ledger items, having same Return Form group, select this option. Then till this option is selected, every ledger you feed, Return form group will automatically allotted. TOP

13 TRANSFER OF DATA TO COMPUTATION After preparation of final account you can transfer the data in CompuTax for preparation of computation and ITR returns. For this purpose you have to tick apply for return form option in permanent information. Here four options are available related to transfer, you can tick as per your requirement. These options can be tick before or after feeding of final accounts.. It is strongly recommended that tick these options before feeding of final accounts. Process( Steps) for transferring data in CompuTax. 1. Firstly click on software links CompuTax. 2. After this a massage will be shown asking you transfer to tax, then click on ok. 3. If there is any ledger item for which group for return purpose is not selected, then following message will appear

14 4. After pressing ok on above, a new window will come for selecting group for return form. Select group and then exit. 5. After the above process a new massage will be shown on screen which will be show total of balance sheet and profit & loss as per combubal and computax. If here is any difference it means ledger item is not defined group for return purpose. If here is no difference than click on ok. 6. Now following window will be open. It shows the items and their amount transferring for computation. Here you can adjust the amount to be transfer in computation. After this click on exit. 7. Now transferring process will be complete. You can see computation display and file ITR return. TOP

15 PREPARATION OF AUDIT REPORTS 1. Click on audit report. 2. Here many types of reports available such as Audit Report, Notice, Director Report, CARO, Accounting Policies and notes on accounts, Appointment Letter, Representation, etc. 3. Here some templates are provided for every report. You can use these templates or can create new template for any report. Steps for creation of new template are as follow. Click on new option. Here default format for such report will open, you can change such format as per your requirement. Insert: -here in left hand side insert option is available. For inserting data given in list like Name, Pan, CA Firm Name select data and click on insert. Give template name and click on save and exit.

16 4. Default templates can t be modify or delete. 5. Create: - for creation of any report, following process will be follow Firstly, select such report, and then click on create option Selected Report will open, Modify as per your requirement, give letter name and click on save & exit. Now such report will show on documents list. Now you can take print and preview. 6. Import from P.Y:- Reports can be import from PY, but if you import, reports from PY, than current year reports will be delete. 7. CARO with suggested answers: - here an option is CARO with suggested answers available. For every question of CARO report, suggested answers are provided in software. You can select answer as per your requirement. TOP

17 How to upload Tax Audit Report (3CD) From Assessment year , it is made compulsory to file Tax Audit report online. In return form there is input for furnishing date of the audit report. Hence it is compulsory to file the Tax Audit report first and then only return can be upload. Steps for filing Tax Audit Report 1. Registration of Chartered Accountant on Income tax website as CA (A separate login is required to be created on the as CA) 2. Generation of XML file : XML of 3CD 3. Add name of CA in assessee account on income tax website (Add CA) 4. Upload XML file by CA login (XML file of Tax audit report will be first submitted by CA). If client do not Add the name of the CA in their account CA cannot upload the Tax audit report of that assessee. 5. Authentication of the XML file by Assessee (After uploading the xml file it will be approved by the assessee, then the process of filing will be complete) 6. Some FAQ All above facilities has been given in Online activity button on balance sheet main page

18 Generation of XML file 1. Form 3CD has to be prepared from CompuBal. There is no separate/special requirement to prepare 3CD for XML purpose. 3CD prepared for reporting to client will be used for generation of XML of 3CD. The inputs are design/changed taking care of requirements of e-form 3CD. 2. In some points, where it considered necessary, additional input/ annexure is provided and marked in color. This input will not go in the xml file. However you can print in the report of form 3CD. These are only optional fields. If an auditor wants to fill them for their reporting purpose, then only he is required to fill these optional fields. 3. Where a point is not applicable for a status, the input of that point is read only. Step 1. Open CompuBal and select applicable form:

19 Preparation of 3CA/3CB 1. Software will auto fill e.g. I/We, Me/us on the basis of constitution of CA firm selected in Auditor information. 2. Certain captions like audited period, profit & Loss a/c are auto generated and shown in color. 3. Auditor information is picked from Auditor s Master.

20 Preparation of 3CD Input of the form 3CD is divided by point number. At top of the screen links are provided to open that point. Example:- If we click on point 7-8 following screen will be open 1. Since assessee is Company hence point 7(a) will be read only and in point 7(2) will be by default No. 2. The input box colored with will not go with the e-form 3CD. These are only for reporting purpose and will print in paper report. These are only optional fields. If an auditor wants to fill them for their reporting purpose, then only he is required to fill. Now click on next page by using link given on the above of each screen

21 Whenever you exit from this page by clicking Exit button, software will validate the input. If there is any deficiency in the inputs, it will show the deficiency. You can remove the deficiency immidiately or later. The general mistake is that if two or more inputs are required in a line and we left some column to fill, then it will not validate the data.

22 Registration of Chartered Accountant 1. CompuBal provide facility to register the CA on website. 2. Every auditor who signs the audit report is required to register himself on e-filing website (incometaxindiaefiling.gov.in). In case of Partnership firm of chartered accountants, if more than one partner signs the Audit reports, each partner signing report is required to register separately on website. 3. An Auditor can upload the Tax audit report only when an assessee add his name in his account in e-filing a/c 4. An Auditor is required to create only one account to file all the audit report for all assessee. The only condition is that, assessee have added his name(ca name) as CA in his (assessee) account. 5. On online activity screen there is a button on top of screen Registration CA button. Auditor selected in the permanent information will be displayed here. If they are registered with software their user id is displayed. If they are not registered with software, a link has been provided to register them. There may 2 conditions. a. Auditor name is not registered b. Auditor name is registered otherwise than CompuBal 6. In both cases following screen will open on click of Registered CA. If CA is already registered than you are require to fill only first block. But it is recommended to fill full inputs, because other input are required for reporting purpose in 3CD. 7. If you want to register any CA, you can register him by clicking on Register CA button. On click of this button, Complete list of CA will appear. Here you can Add/ Modify the CA and registered them.

23

24 Add name of CA A chartered accountant can file Tax audit report only if assessee added his name in his account on his income tax e-filing web site. This facility has been provided in CompuBal Online activity. You are required to specify Auditors membership number, Form to be filed. Click on ADD CA Button. A new window will open.

25 Generate & Upload XML 1. If you want to generate the XML file, select applicable form from combo and then click on Generate xml button. 2. For uploading two options have been provided. I) Upload and ii) Upload and Approve. On upload button audit form will be uploaded only. On click on upload and approve button both function(upload and approve) will be completed on single click. 3. After successful uploading, it will be displayed at the bottom of the page. If it is not approved then a link is provided to approve it.

26 FAQ 1. Point 32 Ratios: Input of the ratios are alphanumeric. The length of the input is 30 characters. You can input ratios anyway like a % b / = 20.33% 2. Point 14 Depreciation schedule: At present if you input the depreciation here it will export to computax. TOP