Accounting Software with Audit Trial

Co Act 2013 380 views 11 replies

Vignesh P

Company Secretary

109 Points Joined June 2016

Dear All,

As you all would be knowing, MCA had notified Companies (Accounts) Amendment Rules whereby it was said that every company using accounting software shall use only software which has a feature of recording audit trial for each transaction. There was also a mandate that the audit trial should not be capable of being disabled.

Requesting any one of the esteemed members to clarify if "Tally ERP -9" would have the feature which would meet this compliance requirement.

Thanks in advance

Best Regards,

CS Vignesh P

Replies (11)

sabyasachi mukherjee

28001 Points Joined May 2017

SAP IS THE BEST SUITED SOFTWARE FOR LARGE TO MEDIUM SIZE ORGANIZATION.

CA Surya Sekar

CFO

1347 Points Joined March 2020

CBAS is the best software which maintains audit trail & it provides customised versions also.But it's not popular & no used widely

Eswar Reddy S

CFO- at NHTF

58280 Points Joined August 2012

Tally Erp is used by many accounting professionals , small and midsized enterprises . Option is already there.

But MCA notification is applicable to companies only & not to non corporate assessees

sabyasachi mukherjee

28001 Points Joined May 2017

Tally erp is ok, but there are certain software like oracle financials, navasion , citrix these I hv used they are unparalleled.

Eswar Reddy S

CFO- at NHTF

58280 Points Joined August 2012

Tally is widely used even by professionals but other softwares are industry specific and for large organisations

Vignesh P

Company Secretary

109 Points Joined June 2016

Hi all... thank you for your valuable inputs and time. The essence of the question was if Tally ERP 9 version would meet the compliance requirement.

Request you to kindly share your views on this.

Eswar Reddy S

CFO- at NHTF

58280 Points Joined August 2012

It's already there .You need to contact the technical support team

Vignesh P

Company Secretary

109 Points Joined June 2016

Thank you sir. Just to clarify - To my understanding such setting in Tally is capable of being "Disabled" whereas the rule specifically mentions that the feature should not be capable of being disabled. Will it still suffice Sir?

Chirag

Professional

1979 Points Joined December 2017

No , intent of law is ,"Log Details / Audit Trail" should be embedded feature in software ,if in tally Audit feature is enabled & can't be disabled ,then it's in compliance else not ..