E- Invoicing, Know, Learn and Implement

What you don’t know

1) The Ministry of Corporate Affairs (MCA) notified a rule mandating every business that uses accounting software to maintain their books of account to have an audit trail feature. The latest amendment ensures that every company maintains a record and edit log of each transaction, effective from 1st April 2022.
2) Secondly, As per amendments of GST, if turnover is more than 20 crores during any financial year commencing from 2017 till 2022 then e-invoicing is mandatory to companies from 1st April 2022.
3) TallyPrime Release 2.1 supports dongle-based digital signature in PDF documents.

What you want to learn
1) How to implement an Audit trail and start recording transactions
2) How to do e-invoicing from TallyPrime
3) How Digital signature works

book the session for Demo
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Implementation steps

1) Move to the latest version of tally that is TallyPrime
2) Ensure that you are working on Release 2.1
3) Register on GST portal and create API user for e-invoicing
4) Activate required feature in TallyPrime

Audit Trail

  • Tally introduced a feature named Edit log to meet Audit Trail compliance of MCA.
  • Edit log is applied on transaction level, a master level, and company level
  • Edit log will track version wise creation, alteration, and deletion activity with date and time.

 

Digital signature from Tally
1)  Digital signature can be applied with secured PIN through TallyPrime
2)  Validation of Digital signature is also possible with the help of TallyPrime

For Demo Purpose

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Shantanu K. Joshi
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