Vouchers maintenance

Quick Summary
This discussion clarifies the mandatory nature of voucher maintenance for business transactions. While electronic record-keeping is permitted under the Companies Act, physical vouchers are crucial for audit purposes, especially for internal expenses where invoices aren't issued. For sole proprietorships and partnerships, maintaining vouchers is highly recommended as they authenticate all transactions. Even when using accounting software, a printed and signed voucher is often necessary for cash payments and for future audit trails, with specific rules for payments over £5,000.

Excel is never been a good suggestion for accounting pupose.
For small businesses who choose for 44AD/44ADA , voucher maintenance is not required.

Just invoices data is sufficient and which can be maintained in electronic form
If you see ITR4, information like , Sundry creditors, sundry debtors, inventory, and Cash and equivalent are mandatory . (In Shedule Business and profession E15, E19,E20,E22) .
Outstandings can be traced from ledger in excel i
Not possible for calculating every ledger and details through excel
For 44ADA cases excel is sufficient
Not at all
Ok,but what about Cash and equivalent ( Cash transactions) are also mandatory in ITR4 . You have to maintain Vouchers.
Bank Balance can be obtained from Bank Statement and which is available in electronic mode and pdf can be downloaded.

Cash Book in excel is available
When nothing can be maintained in Excel then how cash book will be available in Excel. I suggest you to make accounting in Tally 7.2
For ITR-4 Tally is not required
Depends on no. of transactions.
Number of transactions are irrelevant when 44AD/44ADA is applicable
But accounting depends on number of transactions.
44AD/ 44ADA doesn't require accounts.Will number of transactions has relevance?

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