The Ledger Balance Variance report displays a detailed comparison between the Ledger Closing Balances between the Audit Year and Previous Year. The Ledger to Ledger comparison will help in checking the deviations between the years.
To view the Ledger Balance Variance report,
Go to Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Balances
Click on V: Balance Variance or press Alt+V
The above displays the Ledger wise Closing Balance values for Previous Year and Audit Year (Current Year) along with the Variance in Amount and Percentage. The above report also displays the Verification Status for the Ledgers which are already checked and verified by the Auditor.
Click on F4: Group or press F4 to view the above report only for the selected Group.
Click on F5: Grouped or press on F5 to view the Group wise Balance Variance report.
Click on Ctrl+F9: Master Config of Ctrl+F9 keys to identify the parties as MSME, identify Related Parties and apply Sampling methods for Auditing.
Click on F9: Verify or press F9 to mark any Ledger as Verified.
Click on Ctrl+F10: Remove Audit or press Ctrl+F10 after selecting the required Ledgers from the above report to change the Audit Status to Unaudited (Blank).
Click on W: Working Note or press Alt+W keys to specify the working note details at Company or Group or Ledger level. The details provided in working note will be captured in Audit Working Paper along with the details of User Name, Working Note Date & Time, Status, Note etc.
To view the Audit Working Paper during Auditing, click on Ctrl+W: Audit Wkg Paper or press Ctrl+W keys. The details displayed in Audit Working Paper will be relevant to report from where it is triggered.
For more details on Working Paper refer the topic Audit Working Paper
Click on F9: Inv Reports or press F9 key to navigate to the default Inventory Reports like Godown Summary, Movement Analysis, Stock Summary etc.
Click on F10: Acc Reports or press F10 key to navigate to the default Accounting Reports like Balance Sheet, Cash Flow, Trial Balance etc.
Click on F10: Audit Reports or press Alt+F10 keys to navigate to the other Audit Reports within Statutory Audit and 44AB Audit (Tax Audit).
Click on F12: Configure or press F12 to change the default display for the above report.
For more details on the F12 Configuration options, refer to Trial Balance report.
Additional options in the above report are explained below:
Show Verification Note: Set this option to Yes to display the verification note entered by the Auditor.
Show Ledgers with Variance: This is a filter option to display the Ledgers with Variance Greater than, Less than or Equal to the entered value. The details can be filtered based on the Percentage or Amount.
Sorting Method: Select the required Sorting Method from Default, Alphabetical (Decreasing), Alphabetical (Increasing), Variance % wise (Decreasing), Variance %wise (Increasing) Variance Amount-wise (Decreasing) and Variance Amount wise (Increasing) for the Ledgers.