Audit Trail in Tally Prime - Importance, Limitations, and Best Practices.
Important accounting and audit trail requirements from 01.04.2023
As per Ministry of Corporate Affairs (MCA) notifications No. G.S.R. 205(E) dated 24.03.2021, G.S.R. 247(E) dated 01.04.2021 & G.S.R. 235(E) dated 31.03.2022 (Copy of Notifications attached) states that every company which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.
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