https://help.tallysolutions.com/docs/te9rel64/Auditor_Edition/India/Statutory_Audit/Verification_of_Balances.htm

Verification of Balances (India)

From this report, the Auditor can select the required Group to drill down into the Group level to view the Verification of Balances report.

To view the Verification of Balances report

1. Go to Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Balances .

The name of the Groups appears on the left side under Particulars. The Opening Balance, Closing Balance, and the Transaction details for each Group, appears on the right side of the report.

The right side of the screen displays the transactions details along with the Opening Balance and Closing Balance. The Closing Balance amount is highlighted in red when the Closing Balance for the respective Group is against the default Group behavior. For example, if the Current Liabilities Group shows Debit Balance instead if Credit Balance and so on.

Note: Previous Year Period : Not Applicable, displayed below the Audit Period, will be highlighted in red to indicate that the previous year's company has not been loaded.

From the above report, the Auditor can press Enter on the  required Group to drill down into the Group level Verification of Balances report as shown below:

Button options in the Verification of Balances report

F1 : Detailed

Click F1 : Detailed or press Alt+F1 to view the detailed view to view the details of the Subgroups and Ledgers.

Ctrl+F3: Compare Cmp

Click Ctrl+F3 : Compare Cmp or press Ctrl+F3 to load the Company that contains the data for the year prior to Audit period.

F4: Group

Click F4 : Group or press F4 to view the Verification of Balances report for the selected Group.

Select the required Group from the List of the Groups and press Enter .

F5: Led-wise

To view the Ledger wise report for Verification of Balances click on F5 : Led-wise or press F5 .

Ctrl+F9: Master Config

Click Ctrl+F9 : Master Config or press Ctrl+F9 to identify the parties as MSME , Related Party , Periodic Payments and Receipts and apply Sampling methods for Auditing.

X: Exceptions

Click X : Exceptions or press Alt+X to view the exceptional items only.

Note: The closing balances all the exceptional items are highlighted in red for the Auditor's attention.

V: Balance Variance

Click V : Balance Variance or press Alt+V to view the Ledger Balance Variance report.

Ctrl+V: Verf of Op.Bal

Click Ctrl+V : Verf of Op.Bal or press Ctrl+V to view Verification of Opening Balances report.

F9: Inv Reports

Click F9 : Inv Reports or press F9 to navigate to the default Inventory Reports like Godown Summary , Movement Analysis, Stock Summary and so on.

F10: Acc Reports

Click F10 : Acc Reports or press F10 to navigate to the default Accounting Reports like Balance Sheet , Cash Flow , Trial Balance and so on.

F10 : Audit Reports

Click F10 : Audit Reports or press Alt+F10 to navigate to the other Audit Reports within Statutory Audit .

F12: Configure

Click F12 : Configure or F12 to change the default display for the Verification of Balances report.

Sorting Method :  Select the required Sorting Method from Default, Alphabetical (Decreasing), Alphabetical (Increasing), Amount-wise (Decreasing) and Amount wise (Increasing) for the Group names.

For detailed explanation of each option in the above screen, see F12: Configuration in Trial Balance report.

Drill down to Ledger Vouchers report is provided from the above report by keep pressing Enter on the Group name or a Subgroup name and then Ledger name.