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Version: Getting Started with MCA Reports in Tally.ERP 9/Release 3.3/December 2011
Contents
Introduction
XBRL Data Structure ................................................................................................................................ 1 XBRL Format for Reporting in India ....................................................................................................... 2 Preparation & Filling of Financial Reports in XBRL Format .................................................................. 3
Steps for Filing Financial Statements in XBRL form in MCA21 System ............................................................. 3
Content
3.12
3.13 Leases ............................................................................................................................................ 56 3.14 Earnings per Share ........................................................................................................................ 57 3.15 3.16 Subsidiary Information ................................................................................................................ 58 Deferred Tax Assets and Liabilities ............................................................................................. 60
3.17 Investment in Associates .............................................................................................................. 61 3.18 Investment in Joint Venture .......................................................................................................... 62 3.19 Discontinuing Operations ............................................................................................................. 63 3.20 Intangible Assets ........................................................................................................................... 64 3.21 3.22 Impairment of Assets ................................................................................................................... 65 Provisions and Contingencies ...................................................................................................... 66
3.23 Cash Flow Statement and Balances .............................................................................................. 67 3.24 Foreign Bank Balances ................................................................................................................. 68 3.25 Due to MSME ............................................................................................................................... 68 3.26 Directors and Remuneration to Directors ..................................................................................... 71 3.27 Other Disclosures.......................................................................................................................... 72 3.28 Auditors Report ............................................................................................................................. 73 3.29 Auditors Information ................................................................................................................... 74 3.30 Directors Report ............................................................................................................................ 75 3.31 Signatories of Balance Sheet ........................................................................................................ 76
3.31.1 Details of Directors Signing Board Report ........................................................................................... 77 3.31.2 Details of Managers Signing Balance Sheet ......................................................................................... 78
3.32 Prior Period, Extraordinary And Exceptional Items ..................................................................... 79 3.33 Share Capital ................................................................................................................................. 80
3.33.1 Additional Information Relating to Share Capital ................................................................................ 81 3.33.2 Details of every class of Share Capital issued during period ............................................................... 82
3.35 Miscellaneous Information ........................................................................................................... 85 3.36 Additional Details for the Tangible Assets ................................................................................... 86 3.37 Additional Details for the Intangible Assets ................................................................................. 91 3.38 Details of Deferred Tax ................................................................................................................ 92 3.39 Specify Report .............................................................................................................................. 93 3.40 Update Status ................................................................................................................................ 93
Content
5.3 Cash Flow Statement .................................................................................................................... 110 5.4 Other Reports ................................................................................................................................ 111
5.4.1 5.4.2 5.4.3 5.4.4 Fixed Assets Details ............................................................................................................................... 111 Product and Services ............................................................................................................................. 112 Details of Goods .................................................................................................................................... 117 Raw Materials Details ........................................................................................................................... 121
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Introduction
XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. XBRL stands for eXtensible Business Reporting Language. It is one of a family of XML languages which is becoming a standard means of communicating information between businesses and on the internet. XBRL was developed to facilitate electronic exchange of Business reporting Data across various computer platforms. It supports the preparation, analysis and communication of business information. It also offers the benefits like:
Cost Saving Greater Efficiency Improved accuracy and Reliability Greater Transparency
XBRL is being developed by an international non-profit consortium of approximately 450 major companies, organisations and government agencies. It is a freely available, market driven, open, global standard language. It is already being put to practical use in countries like USA, UK, Australia, China, etc.
Introduction
All listed companies including their Indian subsidiaries (but excluding the overseas subsidiaries) Companies having a paid up capital of more than Rs. 5 crore or turnover of Rs.100 crore or above
In the first phase Banking, Insurance, Power, and Non-Banking Financial Companies (NBFC) are exempted from submitting financial report in XBRL Format. Now, Indian companies can use internationally accepted reporting format XBRL to save costs and streamline their processes for collecting and reporting financial information. Consumers of financial data, including investors, analysts, financial institutions and regulators, can receive, discover, compare and analyse data much more rapidly and efficiently if it is in XBRL format. It also assists to access non-financial information like supplier data, customer application forms, project data, employee information, regulatory submissions, and Management Information System on the company. To assist and manage XBRL Reporting, Ministry of Corporate Affairs has set up e-governance web portal Ministry of Corporate Affairs XBRL (http://www.mca.gov.in/XBRL/index.html).
Introduction
All listed companies including their Indian subsidiaries (but excluding the overseas subsidiaries) Companies having a paid up capital of more than Rs. 5 crore or turnover of Rs.100 crore or above
Assessees who are submitting their financial statements to the MCA as a part of their statutory compliance, need to (who have computerized systems in place) and can) generate their financial reports in XBRL and submit to MCA. (from their existing application/product/tool). Department has given the process to prepare financial reports in XBRL in the format as prescribed in a Taxonomy, and provided a tool to validate the reports and upload the reports to MCA21 system.
Create the XBRL instance document for Balance Sheet and Profit & Loss Account Review and verify the Instance Document
2. Download the XBRL Validation Tool form MCA Portal 3. Validate the XBRL instance document and to be certified by any of the members of ICAI, ICWAI and ICSI who are in whole time practice. 4. Perform pre-scrutiny of the validated instance document through the tool (to perform pre-scrutiny, enterprises should have a working internet connection) 5. Attach the Instance Document to the Form 23AC and 23ACA 6. Submit/Upload the Form 23AC and Form 23ACA on the MCA portal
XBRL
Validation Tool is provided by MCA to validate the XBRL instance document generated by IT vendors / IT departments from their respective products/ tools. 23AC - Form for e-filing Balance Sheet with the Registrar 23ACA - From for e-filing Profit & Loss Account with the registrar
Form Form
Introduction
Easy to enter Companys information (Financial & Non-financial), Audit and Director Report information with proper categorization of information. Company Chart of Accounts (COA) with suggested mappings to respective elements of MCA Taxonomy. Simple procedure/configuration for Grouping or Re-grouping of COA with Taxonomy Elements as per the user choice. Option to check (only) the Mandatory fields for proper validation as per Taxonomy Business Rules. Facility to fill previous year data, if Books of Accounts are maintained manually. Single report to check that all the required information to generate valid MCA Reports Checklist for Generation of Reports. Generate MCA Reports with a click of a button. Generate Balance Sheet, Profit & Loss A/c and Cash Flow Statements.
MCA Reporting is a default feature available in Tally.ERP 9. For generating MCA reports the subscription rates are as follows:
Till
From April 1, 2012 - Users have to subscribe for MCA Reports Service in addition to Tally.NET which will have the validity period as that of Tally.NET.
To subscribe MCA Reports Service, click on Ctrl+S: Shop button or press Ctrl+S keys to navigate to Shop screen to buy the MCA Reports Service.
For generating MCA Reports from Tally.ERP9, let us take the example of ABC Company.
Ensure the values for Mandatory Fields Map Tallly.ERP 9s Default Groups to MCA Taxonomy Elements. User has to tag the respective applicable Taxonomy child elements to the Group/Sub group. Generate the MCA Reports in prescribed MCA-XBRL format
The List of Accounts Configuration report displays the mapping details for each default Tally Group with the MCA - XBRL Head with Group Closing Balance. To view the List of Accounts Configuration report, Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > List of Accounts
The List of Accounts Configuration report displays the Default Tally Groups in Blue Colour. Users have to map the Tally.ERP 9 default groups/subgroups/ledgers from the above report by pressing Ctrl+Enter on the required Group/Subgroup/ledger or select (by pressing Spacebar key) required Group/ Subgroup/ ledger and click on C: Map Elements button to Configure MCA Taxonomy Element.
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From List of Accounts Configuration screen, company can also configure Cash Flow and P&L adjustments & appropriations. To configure the Cash Flow Statement select Cash Flow Statement option and press Ctrl+Enter. To disclose the details of Profit & Loss Adjustments & Appropriations select Profit and Loss Adjustments & Appropriation option and press Ctrl+Enter.
Click on F1: Detailed or press Alt+ F1 keys to view the detailed Chart of Accounts of the company along with Ledgers for tagging the Taxonomy elements. For easy identification, unmapped List of Accounts are displayed in Blue Colour. Select the Default Tally Ledger for MCA - Taxonomy element tagging.
Click on C: Map Elements or press Ctrl + Enter to select applicable child element to tag to the selected ledger or group. The elements of MCA -Taxonomy are shown in a tree structure and user can select the applicable element for the selected ledger.
The Taxonomy Elements are shown in its reporting structure by default. User can see this in the form of Alphabetical Order or Taxonomy Head as per the reporting structure of the taxonomy using the options provided in this screen.
Select the appropriate MCA - Taxonomy Element from the MCA - XBRL Taxonomy (e.g. Calls unpaid by directors). The newly mapped group will be displayed in Selected Element filed.
Tally.ERP 9 will allow to re-configure the default mapping only with the MCA XBRL Taxonomy displayed in Blue (child taxonomy element). It will not allow to map the MCA - XBRL Taxonomy displayed in Black (parent Taxonomy element).
The List of Accounts Configuration report with the mapped MCA Taxonomy Element appears as shown:
On mapping the List of Accounts with MCA Taxonomy, the mapped Ledger's colour gets changed to Black indicating that the ledger is mapped.
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If you map the Group with MCA Taxonomy, then all the ledgers created under it will mapped with the MCA Taxonomy selected for the Group.
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Net Profit as per Profit & Loss Account: Net Profit displayed in this field is captured from Profit & Loss A/c Net Profit as per MCA - Taxonomy Element: Net Profit is displayed based on the mapping of MCA - Taxonomy Elements.
The Net Profit displayed in both the fields should be same to confirm that the books of accounts and the details disclosed in Instance Document are correct. As different companies follow different methods to arrive Profit, difference in Net Profit may be found. Example: when a company has recorded all the adjustment/appropriation entries in books of accounts but are not mapped to generate XBRL Instance Document. In this case Net Profit as per Profit & Loss Account will be less than the Net Profit as per MCA Taxonomy Element. Hence, while disclosing the Profit and Loss Adjustments & Appropriations details, companies can follow any one of the methods given:
2.2.1 Profit and Loss Adjustments & Appropriations are already accounted in the Books of Accounts
If the company has already recorded all the Profit & loss adjustment transactions then, the adjusted values can be entered/specified for the appropriate Taxonomy elements manually. The values are entered manually will be considered only for Taxonomy elements and will not affect the books of accounts. Example: ABC Company has already accounted the transfer of Rs. 12,00,000 to General Reserves. Hence, the value of Reserves is being entered manually in P& L Adjustment & Apportions.
On disclosure of all the Profit and Loss Adjustments & Appropriations the Profit/Loss as per MCA Taxonomy Elements and Books of accounts transferred to Balance sheet will be displayed.
Profit/Loss as per MCA Taxonomy Elements = Net Profit as per MCA Taxonomy Elements - Taxonomy Element amount (addition/Subtraction) Profit/Loss as per Books of accounts transferred to Balance sheet = Net Profit as per Profit & Loss Account
The Profit/Loss displayed in both the fields should be same to confirm that the books of accounts and the details disclosed in Instance Document are correct. If there is any difference, the Difference amount will be displayed in Red.
2.2.2 Profit and Loss Adjustments & Appropriations are not accounted in the books of Accounts
If the company has not accounted the P& L Appropriations, to disclose the such information for taxonomy elements and Books accounts, Example: ABC Company wants to allocate Rs. 12,00,000 towards General Reserve. It has not accounted the allocation in Books of Accounts. Navigate to the appropriate taxonomy element and click on F7: Create Voucher button or press F7 key to navigate to Journal Voucher to record the adjustments/ appropriations.
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In Journal Voucher,
Debit - Profit & Loss A/c and enter the amount allocated in Amount field. Credit - Reserves & Surplus ledger. on selection of Ledger Tally displays the Adjustment Type screen to select the Taxonomy elements towards which the value to be mapped. In this screen select the appropriate taxonomy element e.g. Appropriations General Reserve
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All adjustments/appropriations have to be accounted using the ledger Profit & Loss A/c. If Profit & Loss A/c ledger is not used to account the adjustments, such transactions will be considered as normal adjustments and will not be displayed in Profit and Loss Adjustments & Appropriations screen.
From Journal Voucher, Tally.ERP 9 will not allow the user to navigate to any other vouchers. To navigate back to Profit and Loss Adjustment & Appropriations screen press Escape from Journal Voucher.
On accepting the voucher the allocated value will be displayed in Profit and Loss Adjustment & Appropriations screen as shown:
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On disclosure of all the Profit and Loss Adjustments & Appropriations the Profit/Loss as per MCA Taxonomy Elements and Books of accounts transferred to Balance sheet will be displayed.
Profit/Loss as per MCA Taxonomy Elements = Net Profit as per MCA Taxonomy Elements - Taxonomy Element amount (addition/Subtraction) Profit/Loss as per Books of accounts transferred to Balance sheet = Net Profit as per Profit & Loss Account - Taxonomy Element amount (addition/Subtraction).
The Profit/ Loss displayed in both the fields should be same to confirm that the books of accounts and the details disclosed in Instance Document are correct.
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From Profit & Loss Adjustments and Appropriations screen, users can view the Journal Vouchers recorded using F7: Create Vouchers button. To view Journal Vouchers recorded from Profit & Loss Adjustments and Appropriations, click on F8: Show Vouchers button or press F8 key. Journal Voucher lists only those Journal Voucher which are recorded from Profit & Loss Adjustments and Appropriations report.
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While reporting the cash flows of Operating, Investing and Financing activities, enterprise has to disclose the details
Foreign Currency Cash Flows Extraordinary Items Interest & Dividends Taxes on Income Investments in Subsidiaries, Associates and Joint Ventures Acquisitions and Disposals of Subsidiaries and Other Business Units Non-cash Transactions Components of Cash and Cash Equivalents Other Disclosures
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Tally.ERP 9, allows the user to prepare the Cash Flow Statements using Direct Method or Indirect Method. In Cash Flow Statements screen, Indirect Method will be displayed as the default method used for generation of Cash Flow Statement. If the company is following different Type of Cash Flow Statement, the same can be configured in General Configuration. When the Type of Cash Flow Statement is configured, the same will be captured in method used for generation of Cash Flow Statement field in Cash Flow Statements screen.
Tally.ERP 9 will not allow the user to change the Type of Cash Flow Statement in Cash Flow Statements screen. Cash Flow Statement Type can be configured only from General Configurations.
Adjustments of amortization, bad Debts recovered, depreciation, dividend received by the company & subsidiary, employee compensation, employee stock option plan, gain or loss of foreign exchange fluctuations, gain or loss on sale of fixed Assets, impairment loss, interest expense, income tax refund, liabilities written off, write-off debts, etc. Changes in advance of tax, advances received, amount receivable from related parties, current liabilities provisions, inventories, loan advances, current assets, liabilities, prepaid expenses, provisions, working capital etc. Expenses of Debt Issue and Refunded Direct Taxes. Dividend & Dividend distribution Tax paid on equity and preference shares. Effect of Foreign Exchange in cash and Cash equivalents. Extraordinary financing and investing activities Cash Flow Increase or Decrease because of Discontinued Operations. Interest Expenses paid on bank borrowings, inter-corporate deposits, long-term & Shortterm loans etc. Loans & Advances made to others, subsidiaries etc. Net Cash Flow of financing, investing and indirect operating activities. Net Changes in reserves, subsidy and discontinuing operations. Other Financing and Investing activities Non-operating and Non-cash adjustments made. Payments to acquire the business, buy back equity shares, investing in Bank Deposits, to develop Fixed Assets, etc. Proceeds of joint ventures, associates, disposal of fixed assets, Investments, Subsidiaries, dividend Investments, dividend mutual funds, bank deposits, issue of equity and Preference shares, sale of business etc. Purchase of associates, fixed assets, Equity and Preference Shares, Government securities, intangible fixed assets, investment properties, subsidiaries etc.
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Repayment of long & short-term borrowings from banks, related parties etc. Share issue Expenses and debt issue expenses.
The Cash Flow Statement with Previous Year Amount details appears as shown:
If the company has previous year data, then the data can be loaded using the option F3: Previous Cmp. The previous year closing balances will be displayed in Previous Year Amount column.
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In List of Transactions for Selected Ledger screen, select the appropriate transaction (use spacebar to select the transaction) and press enter.
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The transaction amount will be displayed against the Ledger. Press Ctrl+A or click on A: Accept button.
Amount of Rs. 25,00,000 will be auto-filled automatically for Purchase intangible fixed assets in the Amount column.
All the information for the Cash Flow Statement is mandatory and to be filled compulsorily. If value is not available, then Zero (0) needs to be specified.
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If MCA - Reports feature is not enabled for the Previous Year Data, while selecting the company Tally.ERP 9 displays the message - MCA Reports are not enabled, do you want to enable?
Figure 2.23 Massage Displayed for Confirmation to Enable MCA Report feature for Previous Year Company
To load Previous Year company select Yes. On enabling, company will get loaded and displayed in Previous Year Company field
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If the Multiple years data is in the same Company, then the Pervious Year Company field will be changed to Previous Year Period and based on the based on the Financial Year Beginning period the Previous Year Period will be displayed.
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From this screen user can drill down to respective screens to disclose the details.
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Balance Sheet Cash Flow Company Information Profit and Loss Account
The mandatory informations will be automatically captured from the Books of Accounts maintained. Enterprises can configure the values/details of Mandatory Information as per the requirement to generate valid instance document. To configure Mandatory Information, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > List of Accounts
Click on M: Mandatory Info. or press Alt+ M to view Select Item screen In Select Item screen, select the Report (e.g. Balance Sheet) from the List of Report Names
The mandatory taxonomy elements for balance sheet appears on the left side and current and previous year amount for each mandatory taxonomy head appears on the right side of the report along with the Current and Previous period details. In Mandatory Information for Balance Sheet screen,
Values for the Taxonomy heads under Source of Funds and Application of Funds will be automatically captured based on the List of Accounts configuration done. For the taxonomy heads displayed under
Share
Capital Details values will be captured automatically from Disclosure of Share Capital of Deposits, values will be captured automatically from Additional Information Relating to Balance Sheet Items if details are disclosed in the respective Additional Details screen.
Details
To fill the mandatory info, select the Taxonomy head and click on F: FillMandatoryInfo button or press Alt+F keys to view the applicable disclosure screen. In the Disclosure screen enter the details and save.
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In Disclosure of Share Capital screen enter the applicable details as shown and accept the screen.
All the taxonomy elements displayed in the Disclosure screen are mandatory. If the fields are empty, Tally.ERP 9 will not allow to continue to define other details and save the Disclosure.
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After filling the mandatory Share Capital Details, the Mandatory Information for Balance Sheet screen appears as shown:
If any of the Mandatory Information is not applicable or doesn't have value, then it is must to fill with Zero to generate valid MCA Reports. To fill Zero, press Alt+Z or Click on Z: Set Zero button. On performing the operation, Zeros will be filled to the mandatory informations without Value.
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To fill the mandatory Company Information, click on F: Fill MandatoryInfo button or press Alt+F keys to view General Information screen. In General Information screen enter the details and save.
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On broad sense, Additional Details contains operational and general information with respect to Financial and Non-financial dealing, along with Auditor and Director Reports details. To Provide the Additional Details, Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > Additional Details
Applicable Report: Gives the information about the report to which the additional informations are applicable. By default few of the additional details are identified with the report and for the un-identified additional details specify the applicable report. Status: Displays the information disclosure completion status for each Additional Details as entered using the F9: Status button.
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Name of Company: The Mailing Name entered in the Company Creation screen is captured in Name of Company field. Corporate Identity Number: Enter the Corporate Identity Number issued by the Ministry of Corporate Affairs.
Corporate Identity Number is a 21- digit number assigned to every company incorporated on or after November 1, 2000. The Corporate Identity Number allotted to a company indicates listing status, economic activity (industry), state, year of incorporation, ownership and sequential number assigned by Registrar Of Companies (Registration Number).
1st
Digit Listing Status (if Listed starts with L and if Unlisted starts with U) 5 Digits Economic Activity (Industry Code) 2 Digits State (KA- Karnataka) 4 Digits Year of Incorporation (2001)
3 Digits Ownership (PLC for Public Limited Company & PTC for Private Limited Company) 6 Digits Sequential Number assigned by ROC (Registration Number 090635).
Last
Tally.ERP 9 checks the Number of digits entered in this field. If the number entered in less than 21 digits it displays the error - CIN should be Equal to 21character and will not allow the user to proceed till the number entered is corrected to 21digits.
If this field is empty, Tally.ERP 9 will not allow to proceed to define other details such as Type of Industry, Reporting method and save the General Information.
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Permanent Account Number (PAN) of the Entity: The PAN/Income -Tax number entered in F3: Statutory & Taxation features screen will be captured here. Address of registered office of Company: The Address entered in Company Creation screen will be captured here. Website: Enter the Company's Website address in this field. Type of Industry: In this filed, select the appropriate Industry Type.
The Type of Industry List displays the industry Types Bank, Commercial & Industrial, Insurance, NBFC and Power for selection.
Under Disclosure of Document Information, enter the details of Date of Board meeting when final accounts were approved, Reporting period Starting & Ending Date. Nature of report - Standalone/Consolidated: Depending on reporting method followed by the company select Standalone or Consolidated in this field.
The Mandatory Information to be disclosed will vary depending on the Nature of Report (Standalone/Consolidated) followed. For example, company is following consolidated system of reporting. Then it has to disclose the details of subsidiaries, associates etc.
Contents of Report: In this field mention the brief content of the Report. Description of Presentation Currency: In this field, company can select the appropriate Currency in which the financial statements are presented from the List of Currencies. Level of Rounding used in financial statements: Company can select the applicable level of rounding Actual, Billions, Crores, Lakhs, Millions and Thousands from Rounding of Currency list.
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Type of Balance Sheet: Company can select Sources and Application of Funds [Vertical Format] or Total Assets and Liabilities [Horizontal Format] as applicable. Type of Profit and Loss Statement: Select Alternative or Main as the applicable P& L Type. Type of Cash Flow Statement: For Cash Flow Statement, select the Direct Method or Indirect Method as followed by the companies. SRN (Service Request Number): Every request submitted on MCA portal is identified by a unique number known as the Service Request Number (SRN). It is a nine character alphanumeric string starting with an alphabet (A-Z) which is printed on the top left hand side of a Receipt or Challan. SRN will be used for all future correspondence with MCA. SRN of Form 66: In this field mention the Service Request Number obtained during submission of Form 66.
The Fields indicated with * are mandatory fields to generate valid XBRL Instance Document.
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If the Company was operating in the Previous Year, then it is mandatory to provide Previous Year's Inventory details.
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Accounting Convention Basis of Accounting Fixed Assets Depreciation Revaluation of Assets Investments Inventories Revenue Recognition Investment Income
Borrowing Cost Proposed Dividend Retirement Benefits Lease Rentals (Lease Income) Research and Development Costs Taxes on income Foreign currency translation Claims Segment Reporting Financial and Management Information Systems Intangible assets
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In Accounting Policies and Basis of Presentation, you can enter the details of policies adopted in the preparation and presentation of financial statements of your company. 1. Company can disclose the both Accounting Policies and Basis of Presentation details, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
To
Copy and Paste or Type the information click on T: Write Text button or press Alt+T keys
On
selecting Write Text option by clicking on T: Write Text button or pressing Alt+T to display information in plain text in report Tally.ERP 9 will prompt you for confirmation.
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selecting Yes, the HTML display gets changed to Text Block where you can enter the information.
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On
Copy and Paste or Typing the information in the Text Block, the disclosure screen is displayed as shown:
attaching the Word file by specifying the word file path the disclosure screen is displayed as shown:
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In Word Doc File Path field, mention the path, word file name with the file extension.
OR 2. Disclose Basis of Presentation and Accounting Polices separately by setting the option Provide complete details in a text block (given above the respective taxonomy elements) to Yes. OR 3. If the Company is not interested in disclosing Accounting Policies and Basis of Presentation details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Accounting Policies and Basis of Presentation screen appears as shown:
Figure 3.13 Completed Accounting Policies and Basis of Presentation Disclosure Screen
If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text.
OR 2. If the Company is not interested in disclosing Changes in Accounting Policies and Estimates details in text block, then the information can be entered in appropriate taxonomy elements. The completed Changes in Accounting Policies and Estimates screen appears as shown:
Figure 3.14 Completed Changes in Accounting Policies and Estimates Disclosure Screen
If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Figure 3.15 Events occurring after Balance Sheet Date Disclosure Screen
1. Company can disclose Events after Balance Sheet Date details, by setting the field Provide complete details in a text block to Yes.
Users can disclose the details in Text block (Type/ Copy & Paste) or attach the Word file by specifying the word file path.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text.
OR 2. If the Company is not interested in disclosing Events after Balance Sheet Date Details in text block, then the information can be entered in appropriate taxonomy elements.
If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the Company is not interested in disclosing Foreign Exchange Transactions details in text block, then the information can be entered in appropriate taxonomy elements. The completed Foreign Exchange Transactions screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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1. Company can disclose Government Grants and Subsidies details, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
OR 2. If the Company is not interested in disclosing Government Grants and Subsidies details in the text block, then the information can be entered in appropriate taxonomy elements.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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3.9 Amalgamation
Accounting standard (AS) 14, deals with accounting for amalgamations and the treatment of resultant goodwill and reserves. As per this Accounting Standard, companies have to disclose the details of amalgamations if any, during the reporting period. In Amalgamation screen, enter the details such as Name, Country of Incorporation, CIN Number of amalgamating Co., effective date of amalgamation, method of accounting, accounting Treatment given to Reserves, number of shares issued in scheme of amalgamation etc. In this screen, you can disclose amalgamation details of more than one Amalgamating company. Once you enter the First amalgamating company name the provision to enter Second amalgamating company details will be displayed.
1. Company can disclose Amalgamation details, by setting the field Provide complete details in a text block to Yes.
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the Company is not interested in disclosing Amalgamation details in the text block, then the information can be entered in appropriate taxonomy elements.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the Company is not interested in disclosing Employee Benefits details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Employee Benefits screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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1. Company can disclose Segment Information details, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
OR 2. If the Company is not interested in disclosing Segment Information details in the text block, then the information can be entered in appropriate taxonomy elements.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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The Fields indicated with * are mandatory fields to generate valid Instance Document.
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All fields in this screen are mandatory, need to be filled compulsorily to generate valid Instance Documents.
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
OR 2. If the company is not interested in disclosing Related Parties details in the text block, then the information can be entered in appropriate taxonomy elements.
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Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
To configure the ledgers as Related Parties, in Ledger Creation/Alteration screen press F12 key or click on F12: Configure and set the option Use Other Information for Ledger Accounts to Yes. In Ledger Creation/Alteration screen, under Other Information section set the option Is Related Party to Yes.
In Related Party Details specify the Nature of Relationship, Country of Residence, Identification No. and Issuing Authority details.
2. In Related Party Transactions screen, the fields marked with * are mandatory fields and needs to filled compulsorily to generate valid instance document.
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3.13 Leases
Accounting Standard (AS) 19 prescribes the appropriate accounting policies and disclosures in relation to finance and operating leases for lessees and lessors. As per this Accounting Standards reporting entity has to disclose the details of leases if any during the reporting period. In Leases information, enter the details of Financial Leases and Operation Leases for Lessor and Lessee as applicable. 1. Company can disclose Leases details, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Leases details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Leases screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Earning Per Share details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Earnings per Share screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Subsidiary Information details in the text block, then the information can be entered in appropriate taxonomy elements. To fill the details under Details of Subsidiaries, set the option Whether the company has subsidiary companies to Yes. If this option is No, the cursor will not move to any of the field in this screen.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Guarantee by Company If the reporting company has given the guarantee for the loans borrowed by the Subsidiary, in Subsidiary Information, enable the option Guarantee given for loans borrowed by subsidiary to Yes to view Guarantee by Company screen. In Guarantee by Company information, details of guarantee given by the Company for the loans borrowed by subsidiary. Here, the informations likes the name of subsidiaries (who have borrowed the loan), Name of Guaranteed Party, CIN of Guaranteed Party and the Amount Guaranteed on Loan Borrowed by subsidiary can be disclosed.
Guarantee by Subsidiary If the subsidiary of a company has given the guarantee for the loans borrowed by the Company, in Subsidiary Information, enable the option Guarantee by subsidiary for loans borrowed by company to Yes to view Guarantee by Subsidiary screen. In Guarantee by Subsidiary information, details of guarantee given by the Subsidiary for the loans borrowed by company. Here, the informations likes the name of company (who have borrowed the loan), Name of Guaranteed Party, CIN of Guaranteed Party and the Amount Guaranteed on Loan Borrowed by company will be captured.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Deferred Tax Assets and Liabilities details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Deferred Tax Assets and Liabilities screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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In this screen, you can disclose the investment details of more than one associate company. Once you enter the First associate company name the provision to enter second associate company details will be displayed. 1. Company can disclose Investment in Associates details, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR 2. If the company is not interested in disclosing Investment in Associates details in the text block, then the information can be entered in appropriate taxonomy elements.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block then, it is mandatory to enter details in taxonomy elements indicated with *.
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1. Company can disclose Investment in Joint Ventures details, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Investment in Joint Ventures details in the text block, then the information can be entered in appropriate taxonomy elements.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block then, it is mandatory to enter details in taxonomy elements indicated with *.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Discontinuing Operations details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Discontinuing Operations screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
OR 2. If the company is not interested in disclosing Intangible Assets details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Intangible Assets screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Impairment of Assets details in the text block, then the information can be entered in appropriate taxonomy elements.
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. Disclose Contingent Liabilities and Provisions separately by setting the option Provide complete details in a text block (given above the respective taxonomy elements) to Yes. OR 3. If the company is not interested in disclosing Contingent Liabilities and Provisions details in the text block, then the information can be entered in appropriate taxonomy elements. The Provisions and Contingencies screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
OR 2. If the company is not interested in disclosing Cash Flow Statement and Balances details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Cash Flow Statement and Balances screen appears as shown:
Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block, then it is mandatory to enter details for all the taxonomy elements.
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All fields are mandatory, needs to be filled compulsorily to generate valid Instance Documents.
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path.
OR 2. If the company is not interested in disclosing Amount Due to MSME details in the text block, then the information can be entered in appropriate taxonomy elements.
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Click on T: Write Text button or press Alt+T keys to get the Text Block to Write Text. If information is not disclosed in the text block then, it is mandatory to enter details for all the taxonomy elements except CIN.
In case of company is disclosing Amount Due to MSME details in taxonomy elements, in Name of the Company field, Tally.ERP 9 will display Sundry Creditors ledgers/Ledgers which are marked with for Enterprise Type.
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To mark the ledgers as Enterprise Type, in Ledger Creation/Alteration screen press F12 key or click on F12: Configure and set the option Use Other Information for Ledger Accounts to Yes. In Ledger Creation/Alteration screen, under Other Information section select the appropriate enterprise type in Enterprise Type field.
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1. Company can disclose Directors and Remuneration to Directors details, by setting the field Provide complete details in a text block to Yes.
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Directors and Remuneration to Directors details in the text block, then the information can be entered in appropriate taxonomy elements.
1. If information is not disclosed in the text block then, fields marked with * are mandatory fields and needs to filled compulsorily to generate valid instance document. 2. Director Identification Number (DIN) is a 8 digit number allotted to the director of the Company. Tally.ERP 9 checks the Number of digits entered in this field. If the number entered in less than 8 digits it displays the warning - Director Identification Number should be equal to 8 character and will not allow the user to proceed till the number entered is corrected to 8 digits
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Under Investments specify the details of market Value, ownership, restriction on realisibility and remittance of Income. Under Acquisition/Disposal of Current Investments enter the Type of Investment, Number of units purchased, Face value, Purchase price, Number of units sold and the selling price of units.
1. Company can provide Other Disclosures, by setting the field Provide complete details in a text block to Yes
Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing other details in the text block, then the information can be entered in appropriate taxonomy elements.
If information is not disclosed in the text block then, it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Auditors Report details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Auditors Report screen appears as shown:
If information is not disclosed in the text block then, it is mandatory to enter details for all the taxonomy elements.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Directors Report details in the text block, then the information can be entered in appropriate taxonomy elements. The completed Directors Report screen appears as shown:
If information is not disclosed in the text block then, it is mandatory to enter details for all the taxonomy elements.
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Under Details of Company Secretary specify Name, Permanent Account Number (PAN) and Date of signing of Balance sheet. Under Details of Directors Signing Balance Sheet section, enter the First Name, Middle Name, Last Name, Designation, Director Identification Number along with the Date of Signing Balance Sheet by Director.
In this screen all the contents are mandatory, except the Middle and Last Name of the Directors signing Balance Sheet.
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In this screen all the contents are mandatory, except the Middle and Last Name of the Directors signing Balance Sheet.
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In this screen all the contents are mandatory, except the Middle and Last Name of the Managers signing Balance Sheet.
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Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word file by specifying the word file path. OR
2. If the company is not interested in disclosing Prior Period, Extraordinary and Exceptional Items details in the text block, then the information can be entered in appropriate taxonomy elements.
Figure 3.47 Prior Period, Extraordinary And Exceptional Items Disclosure Screen
i. If information is not disclosed in the text block then, it is mandatory to enter details for all the taxonomy elements. ii. If the Company was operating in the Previous Year, then it is mandatory to provide Previous Year's Prior Period, Extraordinary and Exceptional Items details.
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i. All the Details in this screen are mandatory and needs to be filled compulsorily to generate valid Instance Document. ii. If the Company was operating in the Previous Year, then it is mandatory to provide Previous Year's Share Capital details.
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All the Details in this screen are mandatory and needs to be filled compulsorily to generate valid Instance Document.
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Figure 3.49 Details of every class of Share Capital issued during period Screen
i. The fields indicated with * are mandatory and needs to be filled compulsorily to generate valid Instance Document. ii. Nature of Share field is a text filed, where users can define the Nature of Shares issued during the period.
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Additional information regarding Loans and Funds Under this disclosure provide the details of bonds, debentures redeemed but can be reissued, terms & Repayment schedule of bonds & debentures, defaults in repayment of interest & long term loan, nature of security of long term secured debt, terms & repayment for other long term borrowings raised, etc.
Details of Deposits Under this disclosure provide the details of deposits accepted/renewed during period, deposits matured and claimed but not paid during year, Interest on Interest accrued and due but not paid Share application money received/given, Dividend per equity, etc.
Details of Debentures Under this disclosure provide the details of debentures which company has power to issue.
The taxonomy elements indicated with * are mandatory and needs to be filled compulsorily to generate valid Instance Document.
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In this screen all the contents are mandatory, except Earliest Date of Redemption.
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Value of Addition (Purchase, Lease etc) Value of Deduction (Sale/Disposal) Value of Other Adjustments (Revaluation) Value of Deduction in Depreciation Value of Depreciation. Value of Accumulated Impairment Value of Reversal of impairment Value of Impairment of the Tangible assets
Tangible Assets include Land (Free/lease hold and land improvements), Building (Residential/ Office/ Factory/Plant & machinery), Equipment (Office/ Factory/ Computer/Furniture), Vehicles (Ships/Air crafts/Helicopter/Motor Vehicles) Lease Hold Properties and Intangible Assets like Goodwill, know-how, computer software etc.
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Company can disclose the Additional Details for the Tangible Assets by manually entering the Value or by selecting the applicable ledgers to auto-fill the values. Let use take a scenario where ABC Company has to disclose the details of Lease hold land & Office Building purchased and depreciation on Office Building during the Period. In this case to auto-fill the value,
In Additions column tab down to Lease hold Land field and click on S: Show Ledger button or press Alt+S keys to view the List of Ledgers. List of Ledgers screen displays the ledgers grouped under Fixed Assets. From List of Ledgers screen select the ledger Lease Hold Land to view the List of Transactions for selected Ledger screen.
In List of Transactions for Selected Ledger screen, select the appropriate transaction (use spacebar to select the transaction) and press enter.
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For accurate auto-fill, while selecting the transactions please check the Voucher Type to determine the operations carried out. e.g. Purchase Voucher indicates additions during the period.
The transaction amount will be displayed against the Ledger. Press Ctrl+A or click on A: Accept button.
Amount of Rs. 50,00,000 will be auto-filled automatically for Lease Hold Land in the addition column.
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Figure 3.58 Additional Details Screen with Addition of Office Building Value
To disclose the Depreciation on Office Building move the cursor to Depreciation on field and click on S: Show Ledger button or press Alt+S keys to view the List of Ledgers. Select the appropriate ledger and the Transaction.
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The Total Tangible Assets Value will be automatically arrived by adding the value of different class of assets. These values are to be provided compulsorily and Zero(0) to be used in case of no values are available.
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Value of Addition to Intangible Assets Value of Deductions in Intangible Assets Value of Other Adjustments like re-valuation of Intangible Assets Value of Amortisation during the reporting period Deduction in Amortisation and Impairment of the Intangible Assets
All the Details in this screen are mandatory and needs to be filled compulsorily to generate Valid Instance Document.
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All the Details in this screen are mandatory and needs to be filled compulsorily to generate Valid Instance Document.
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Select the Additional Detail - Segment Reporting and press F9 key to view Configuration Details screen In Configuration Detail screen select the applicable Report Type
Press Enter to Save.The Report specified will displayed in the Additional Details screen.
Select the Additional Details by using Spacebar. Click on F9: Status or press Alt+F9 keys to mark the Configuration Details as - Complete/ Incomplete/Not Applicable.
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Output Balance Sheet File Name: Tally.ERP 9 by default displays the Out File Name as BS.XML. If required users can specify the Output file name. Output Profit and Loss File Name: Tally.ERP 9 by default displays the Out File Name as PL.XML. If required users can specify the Output file name.
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The exported files will be placed in the Tally.ERP 9 Directory with the file name as specified above.
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On opening the file XBRL Validation Tool displays the following message
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XBRL Validation Toll with opened XBRL Document (generated from Tally.ERP) is displayed as shown:
Select on File option and click on Validate button to validate the file.
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On validating the file, XBRL validation tool checks the information captured in the file and gives the Output as Valid (If there are no errors) or will displays the errors found in the document.
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For Pre-scrutiny a working Internet Connection shall be required. If there is no connectivity Tool will display the following Message
Click on File option and select Export to PDF Then Tool will prompt the user to browse for the path where the PDF to be created & Saved. On Browsing the path, define the File Name and click on Save
Figure 4.9 Selecting the Path & Defining File Name to Create PDF
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on successful creation of PDF, XBRL Validation Tool will display the message as shown:
The PDF file created will be placed in the specified path as shown below:
Similarly, you have to Validate, Pre-scrutinise and Create PDF for Profit & Loss Account.
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4.2.4 Attach instance document to the Form 23AC-XBRL and Form 23ACAXBRL
There shall be a separate set of Form 23AC-XBRL and Form 23ACA-XBRL available on the MCA portal for filing in XBRL form. First fill up the Form 23AC-XBRL and Form 23ACA-XBRL. Thereafter, attach the validated and pre-scrutinised instance document for Balance sheet to Form 23AC-XBRL. Similarly, the instance document for Profit and Loss account is to be attached to Form 23ACAXBRL.
4.2.5 Submitting the Form 23AC-XBRL and Form 23ACAXBRL on the MCA portal
After the forms are filled, you are required to perform pre-scrutiny of the form, sign the form and then upload the same as per the normal eForm filing process. It shall be validated that the attached instance documents are validated and pre-scrutinised from the XBRL validation tool.
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Enterprises can view Financial Reports i.e., Balance Sheet and Profit & Loss Account based on the chart of accounts tagged according to the MCA - XBRL taxonomy elements. Users can also view Cash Flow Statement and Other Reports - Fixed Asset Details, Product and Services, Details of Goods and Raw Material Details. To view financial reports as per MCA - XBRL Taxonomy, go to Gateway of Tally > Display > Statutory Reports > MCA Reports > Reports
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MCA Reports
A company can prepare its balance sheet in either of the Two formats. In Tally.ERP 9, Balance Sheet as per MCA - XBRL Taxonomy provides the representation of company's financial position at any point in time based on the mapping done. Enterprises can maintain Balance Sheet using either:
Source and Application of Funds [Vertical Format] Total Assets and Liabilities [Horizontal Format]
The information of Balance Sheet Type followed has to be disclosed under General Information. Based on the Balance Sheet Type selected, the details of Balance Sheet will be captured in the Instance Document. To view Balance Sheet, Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > Balance Sheet
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MCA Reports
Press Shift+Enter from Non Mapped Ledgers to view the list of Non Mapped Ledgers
From Balance Sheet as per XBRL Taxonomy screen, users can tag Ledgers with MCA Taxonomy elements. To tag ledgers with taxonomy elements select the Non mapped ledgers.
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MCA Reports
Click on C: Map Elements button or press Ctrl + Enter to select applicable child element to tag to the selected ledger or group. The elements of MCA -Taxonomy are shown in a tree structure and user can select the applicable element for the selected ledger or group.
The Taxonomy Elements are shown in its reporting structure by default. User can see this in the form of Alphabetical Order or Group-wise as per the reporting structure of the taxonomy using the options provided in this screen.
On mapping, ledger will not be displayed under Non mapped Ledgers section.
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MCA Reports
Expenses Classified by Function Example: Cost of Sales, Distribution Cost, administrative Expenses, etc. Expenses Classified by Type/Nature Example: Raw materials and consumables cost, staff costs, depreciation, etc.
A company can prepare its Profit & Loss in either of the Two formats. The format adopted for reporting the financial reports is called as the Main format (Type) of Profit & Loss A/c and the other format is called as the Alternate. The Profit & Loss Type has to be disclosed under General information. Based on the Profit & Loss Type selected, the details of Profit & loss statement will be captured in the Instance Document. In Tally.ERP 9, Profit and Loss A/c as per MCA - XBRL Taxonomy provides the representation of company's profitability for a given period based on the mapping done. To view Profit & Loss Account, Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > Profit & Loss A/c
Figure 3.7 Profit & Loss Account as per mapped MCA Taxonomy
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MCA Reports
Press Shift+Enter from Non Mapped Ledgers to view the list of Non Mapped Ledgers
Figure 3.9 Display of Non Mapped Ledgers in Profit & Loss Account
From Profit & Loss Statement as per XBRL Taxonomy screen, users can tag Ledgers with MCA Taxonomy elements. To tag ledgers with taxonomy elements select the Non mapped ledgers.
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MCA Reports
Click on C: Map Elements or press Ctrl + Enter to select applicable child element to tag to the selected ledger or group. The elements of MCA -Taxonomy are shown in a tree structure and user can select the applicable element for the selected ledger or group.
The Taxonomy Elements are shown in its reporting structure by default. User can see this in the form of Alphabetical Order or Group-wise as per the reporting structure of the taxonomy using the options provided in this screen.
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MCA Reports
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MCA Reports
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MCA Reports
This report is a Display report. From this screen users cannot update the details. Opening Balances are captured from the Ledger Opening Balance if mentioned while creating the ledger OR if the data contains 2 or more years data the previous year closing balance will be considered as Opening Balance. Additions, Deductions, Other Adjustments, Deductions in Depreciation, Depreciation, Reversal of Impairment and Impairment will be captured form Additional Details of Tangible Assets and Intangible Assets.
Stock Item details are captured based on the Tariff Classification (HSN Code) of the product and the Unit of Measurement defined in the product.
If Two or More Stock Items having different Unit of Measurement (Nos & KGs) are identified with the same HSN Code (20568897), Tally.ERP 9 will display the Tariff Classification twice based on Unit of Measurement.
During the Financial Year, if the company has sold any principal products for which Tariff Classification (HSN Code) is not defined; such stock items will be listed under the head Stock Items without Tariff Classification.
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MCA Reports
To view Product and Services report Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > Other Reports > Product and Services
Select the required Stock Item(s) for which the Tariff Classification to be tagged.
If all the items fall under same Tariff Classification then, i. You can also select multiple items one by one using the Spacebar key or clicking on Space: Select button on each of the stock item OR ii. Can select all items at once by using Ctrl+Space keys or Space: Select All button
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MCA Reports
Click on F5: Update or press F5 key to link the Tariff Classification or press Ctrl + Enter from the Stock Item(s) selected.
i. F5: Update button will be enabled only on the selection of stock item to allocate Tariff Classification. ii. To update Tariff Classification to multiple items it is must to use F5: Update option. Ctrl+Enter keys will only allow updating the Tariff Classification for a Single Stock Item.
In the Stock Item Tariff/ VAT Commodity screen, Tally.ERP 9 will display the available Tariff classifications.
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MCA Reports
1. If the stock item(s) selected belongs to the existing Tariff classification, then you can select the appropriate Tariff Classification. (Key board)
2. If the stock items selected does not belong to any of the existing Tariff Classifications, then user can create the Tariff Classification by pressing Alt+C key in VAT Commodity screen.
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MCA Reports
The Product & Service screen with Tariff Classification (HSN Code) will be displayed as shown:
Similarly, all the stock Items without Tariff Classifications have to be tagged with appropriate Tariff Classification.
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MCA Reports
Class of Goods (Group): In this field the Stock Item's Group Name will be displayed Nature of Goods: This field displays the Nature of the Item selected in the Stock Item master
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MCA Reports
In Stock Item master a new field Nature of the Item has been introduced. This field will be displayed only when MCA Reports feature is enabled.
Nature of Goods column will not display any details, if the Nature of the Item is not specified for the stock item.
Value of Goods Sold: This column will display the value of goods sold during the reporting period Quantity of Goods Sold: This column displays the Quantity of goods sold during the reporting period. Value of Goods Purchased or Produced: This column displays the value of goods purchased or Produced during the reporting period
For the Items with Nature of the Item - Produced, it will display value of goods Produced For the Items with Nature of the Item - Traded, it will display value of goods Purchased.
Quantity of Goods Purchased or Produced: Displays the Quantity of Goods Purchased or Produced Value of Closing Stock: This column displays the value of Closing Stock Quantity of Closing Stock: This column displays the Quantity of Closing Stock Value of Opening Stock: This column displays the value of Opening Stock specified in the Stock items
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MCA Reports
Quantity of Opening Stock: This column displays the Quantity of Opening Stock specified in the Stock items Unit of Measurement of Goods: Unit of Measurement selected in the stock item will be displayed in this field.
If Stock Items with different Nature of the Item are grouped under a single Stock Group, then the Stock Group will be repeated based on the nature of the Item. Example: Under Stock Group - Computer, 3 Stock Items are grouped * IBM with nature of Item as Traded * Keyboard with nature of the Item as Raw Material * CompPro with nature of the item as Produced In this case Stock Group - Computers will be displayed 3 times Similarly if the stock items with different Unit of Measurement are grouped under single stock group the Stock Group will be repeated based on the Units of Measurement.
Click on N: Nature of Item button or press Alt+N keys to view Multi Stock Items screen. This screen will list all the stock items created and used in transactions. In this screen Select the required Stock Item(s) for which the Nature to be defined Click on F5: Update or press F5 key to Define Nature of the Item or press Ctrl + Enter from the Stock Item(s) selected.
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MCA Reports
F5: Update button will be enabled only on the selection (by using Spacebar key) of stock item to define Nature of Item. To update Nature of Item to multiple items it is must to use F5: Update option. Ctrl+Enter keys will only allow updating the Tariff Classification for a single Stock Item.
In Nature of Item screen, In Select the Nature of Item field select the applicable Nature form the List of Nature
From Nature of Item screen you can also assign the Tariff Classification (HSN Code) to the Stock Item.
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MCA Reports
Similarly, all the stock Items without Nature of Goods have to be tagged with appropriate Nature.
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MCA Reports
Class of Raw Materials Consumed: The Raw Material Group Name will be displayed in this field
If Two or More Stock Items (Raw Materials) having different Unit of Measurement (Nos & KGs) are Grouped under same Stock Group, then the Stock Group will be repeated based on the Unit of Measurement.
Value of Raw Materials Consumed: The value of Raw materials Consumed during the Reporting Period will be captured. Quantity of Raw Materials Consumed: The Quantity of Raw Materials consumed during the Reporting Period will be captured. Unit of Measurement of Raw Materials Consumed: In this field the Unit of Measurement defined for the Stock Item will be displayed.
Disclosure of Raw Material Details is mandatory for the companys which are into manufacturing. Click on N: Nature of Item button or press Alt+N keys to specify Nature of the Item.
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