Getting Started with MCA Reports 2012 (in XBRL Format)

Transcription

1 Getting Started with MCA Reports 2012 (in XBRL Format)

2 The information contained in this document is current as of the date of publication and subject to change. Because Tally must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Tally, and Tally cannot guarantee the accuracy of any information presented after the date of publication. The information provided herein is general, not according to individual circumstances, and is not intended to substitute for informed professional advice. This document is for informational purposes only. TALLY MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS DOCUMENT AND SHALL NOT BE LIABLE FOR LOSS OR DAMAGE OF WHATEVER NATURE, ARISING OUT OF, OR IN CONNECTION WITH THE USE OF OR INABILITY TO USE THE CONTENT OF THIS PUBLICATION, AND/OR ANY CONDUCT UNDERTAKEN BY PLACING RELIANCE ON THE CONTENTS OF THIS PUBLICATION. Complying with all applicable copyright and other intellectual property laws is the responsibility of the user. All rights including copyrights, rights of translation, etc., are vested exclusively with TALLY SOLUTIONS PRIVATE LIMITED. No part of this document may be reproduced, translated, revised, stored in, or introduced into a retrieval system, or transmitted in any form, by any means (electronic, mechanical, photocopying, recording, or otherwise), or for any purpose, without the express written permission of Tally Solutions Pvt. Ltd. Tally may have patents, patent applications, trademarks, copyrights, or other intellectual property rights covering subject matter in this document. Except as expressly provided in any written licence agreement from Tally, the furnishing of this document does not give you any licence to these patents, trademarks, copyrights, or other intellectual property Tally Solutions Pvt. Ltd. All rights reserved. Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP 9, Shoper, Shoper 9, Shoper POS, Shoper HO, Shoper 9 POS, Shoper 9 HO, TallyDeveloper, Tally Developer, Tally.Developer 9, Tally.NET, Tally Development Environment, Tally Extender, Tally Integrator, Tally Integrated Network, Tally Service Partner, TallyAcademy & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners. Version: Getting Started with MCA Reports 2012/Release 4.6/Oct 2013

3 Contents Lesson 1: Introduction Steps for Filing Financial Statements in XBRL form in MCA21 System Features of MCA Reports in Tally.ERP Lesson 2: Enabling MCA Reports in Tally.ERP Enabling MCA Reports in Tally.ERP MCA Reports (2012) Generating reports in XBRL format...5 Lesson 3: Configure List of Accounts Configure MCA Taxonomy Elements Profit and Loss Adjustments and Appropriations Profit and Loss Adjustments are already accounted in the Books of Accounts Profit and Loss Adjustments are not accounted in the books of Accounts Earnings Per Equity Share Cash Flow Statement Preparing Cash Flow Statement in Tally.ERP Select Previous Year Company Restore Mapped List of Accounts View Checklist Configure Mandatory Information Balance Sheet Cash Flow Company Information Profit and Loss Account Show Unmapped List of Accounts...42 Lesson 4: Generate MCA Reports Generate MCA Reports Attach instance document to the Form 23AC-XBRL and Form 23ACA-XBRL Submitting the Form 23AC-XBRL and Form 23ACAXBRL on the MCA portal content content i

4 Introduction XBRL is a language for electronic communication of business and financial data which is revolutionising business reporting around the world. XBRL stands for extensible Business Reporting Language and it is an open source format that is a language from XML family and it was developed to facilitate electronic exchange of business reporting Data across various computer platforms. It has already been accepted as a standard means of communicating information between businesses and on the internet in many countries and organizations across the world. Steps for Filing Financial Statements in XBRL form in MCA21 System 1. Create XBRL Instance Document Map company s financial element to corresponding element in taxonomy 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 perform pre-scrutiny of the validated Instance Document through the tool (to perform pre-scrutiny, enterprises should have a working internet connection) 4. Get the reports certified by any member of Institute of Chartered Accountants of India (ICAI), Institute of Cost Accountants of India (ICAI) and Institute of Company Secretaries of India (ICSI) who is in whole-time practice. 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. Form 23AC - Form for e-filing Balance Sheet with the Registrar Form 23ACA - From for e-filing Profit & Loss Account with the registrar Features of MCA Reports in Tally.ERP 9 Meeting all the requirements of MCA - XBRL Reporting, Tally.ERP 9 provides the option to generate the financial reports in XBRL format with a click of a button. 1

5 Introduction Features of generating MCA Reports (XBRL Format) in Tally.ERP 9 are: Easy to enter Company s 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. For generating MCA Reports from Tally.ERP 9, let us take the example of ABC Company. MCA Reporting is a default feature available in Tally.ERP 9. For generating MCA reports the subscription rates are as follows: Till Dec 31st, Zero rate with Tally.Net subscription. From January 1st, Users have to subscribe for MCA Reports Service 2

6 Lesson 1: Enabling MCA Reports in Tally.ERP Enabling MCA Reports in Tally.ERP 9 To enable the MCA Reports feature in Tally.ERP 9, follow the steps given below: Go to Gateway of Tally.ERP 9 > F11: Features > Statutory & Taxation Set the option Enable MCA Reports to Yes Figure 1.1 Enabling MCA Reports 3

7 Enabling MCA Reports in Tally.ERP MCA Reports (2012) On enabling MCA Reports feature, a new option MCA Reports is available in the Statutory Reports menu. Go to Gateway of Tally.ERP 9 > Display > Statutory Reports Figure 1.2 Statutory Reports menu Press Enter to open the MCA Reports menu with separate options for each reporting period: Figure 1.3 MCA Reports menu Select MCA Reports (2012) and press Enter. To file your financial statements using MCA Reports(2012), select the option MCA Reports(2012) and press Enter 4

8 Enabling MCA Reports in Tally.ERP 9 This will display the MCA Reports (2012) menu as below. Figure 1.4 MCA Reports (2012) menu 1.2 Generating reports in XBRL format Generating reports in MCA-XBRL format from Tally.ERP 9 is a 3-step process. 1. Map Tally.ERP 9 s default Groups to MCA Taxonomy Elements. You have to tag the respective applicable Taxonomy child elements to the Group/Sub group. 2. Verify that values are entered for Mandatory Fields. 3. Generate the MCA Reports in prescribed MCA-XBRL format. To configure the complete financial as well as non-financial information for the generation of the valid MCA Reports in XBRL format for the purpose of submitting to MCA, specify Additional Details, configure List of Accounts, generate Cash Flow and disclose Profit and Loss Adjustments & Appropriations. To generate MCA reports in XBRL format the activities mentioned below have to be carried out. List of Accounts: Tag the chart of accounts, groups or ledgers, to the respective child elements of each of the applicable Parent elements of the Taxonomy. In addition to this, provide the details regarding the Cash Flow Statement and Profit and Loss appropriations and adjustments. Additional Details: Enter the operational and general information containing details with respect to the compliance of various statutes and accounting principles, and, policies information of company, to capture the values. 5

9 Lesson 2: Configure List of Accounts The List of Accounts Configuration report displays the mapping details for each default Tally.ERP 9 Group with the MCA - XBRL Head with Group Closing Balance. To view the List of Accounts Configuration report, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts Figure 2.1 List of Accounts Configuration Screen The List of Accounts Configuration report displays the Default Tally.ERP 9 Groups in Blue Colour. You have to map the Tally.ERP 9 default Groups/Subgroups/Ledgers from the above report. 6

10 Navigate to the required Group/Subgroup/Ledger and press Ctrl+Enter to Configure MCA Taxonomy Element. Select multiple items by pressing Spacebar key on required Group/Subgroup/Ledger and click Ctrl+C: Map Elements button to Configure MCA Taxonomy Element. From List of Accounts Configuration screen, the Cash Flow and Profit & Loss Adjustments can also be configured. To configure the Cash Flow Statement, select Cash Flow Statement option and press Ctrl+Enter. To disclose the details of Profit & Loss Adjustments, select Profit and Loss Adjustments option and press Ctrl+Enter. 2.1 Configure MCA Taxonomy Elements To configure MCA Taxonomy Elements, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. To view the detailed Chart of Accounts of the company, click F1: Detailed or press Alt+F1 keys. For easy identification, unmapped List of Accounts are displayed in blue colour. 2. Select the Default Tally.ERP 9 Ledger (For Example: Building A/c) for MCA - Taxonomy element tagging. Press Spacebar key to select the Default Tally Group/Ledger. 7

11 Figure 2.2 List of Accounts Configuration Screen Detailed Mode with an element selected 3. Click Ctrl+C: Map Elements when multiple items are selected or press Ctrl+Enter to display the applicable MCA Taxonomy element to tag to the selected ledger. The elements of MCA - Taxonomy are shown in a tree structure and you can select the applicable element for the selected ledger. The Taxonomy Elements are shown in its reporting structure by default. You can see this in the form of Alphabetical Order or Taxonomy Head as per the reporting structure of the taxonomy. 8

12 Figure 2.3 Taxonomy Elements Display Screen 4. Select the appropriate MCA - Taxonomy Element from the MCA - XBRL Taxonomy (For Example: Residential building). The newly mapped ledger will be displayed in Selected Element field. 9

13 Figure 2.4 Selection of Taxonomy Elements 10

14 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). 5. Press Enter to save the tagging. The List of Accounts Configuration report with the mapped MCA Taxonomy Element appears as shown: Figure 2.5 Mapped List of Account After mapping the List of Accounts with MCA Taxonomy, the colour of the mapped Ledger changed to Black indicating that the ledger is mapped. To map Tally.ERP 9 Default Groups with MCA Taxonomy: Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. Select the Default Tally.ERP 9 Group for MCA - Taxonomy element mapping. 11

15 Figure 2.6 Group tagging to MCA Taxonomy 2. Click Ctrl+C: Map Elements when multiple items are selected or press Ctrl+Enter to display the applicable MCA Taxonomy element to tag to the selected group. 3. Select the appropriate MCA - Taxonomy Element from the MCA - XBRL Taxonomy. 4. Press Enter to save the tagging. Figure 2.7 Selecting MCA Element for tagging 12

16 Figure 2.8 Group and associated ledgers mapped to MCA Taxonomy On mapping Groups with MCA Taxonomy, all the ledgers created under it will be mapped with the MCA Taxonomy selected for the Group. Bifurcating ledger value during MCA Taxonomy Elements mapping Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. To view the detailed Chart of Accounts of the company, click F1: Detailed or press Alt+F1 keys. For easy identification, unmapped List of Accounts are displayed in Blue colour. 2. Select the Default Tally.ERP 9 Ledger (For Example: Any Bank OD ledger or Unsecured loan ledger) for MCA - Taxonomy element tagging. Press Spacebar key to select the Default Tally Group/Ledger. 3. Click Ctrl+C: Map Elements when multiple items are selected or press Ctrl+Enter to display the applicable MCA Taxonomy element to tag to the selected ledger. 13

17 The Taxonomy Elements are shown in its reporting structure by default. You can see this in the form of Alphabetical Order or Taxonomy Head as per the reporting structure of the taxonomy. 4. Select the appropriate MCA - Taxonomy Element from the MCA - XBRL Taxonomy. Figure 2.9 Selection of Taxonomy Elements 5. Press Enter to view the MCA Bifurcation screen. 14

18 6. Segregate the value between Short Term and Long Term and press Enter. 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). 7. Press Enter to save the tagging. On mapping the List of Accounts with MCA Taxonomy, the colour of the mapped ledger is changed to Black indicating that the ledger is mapped. 2.2 Profit and Loss Adjustments and Appropriations In Profit and Loss Adjustments screen, a company can disclose the details of Profit utilisation after Net Profit is arrived. Net Profit = Gross Profit - Administration & Selling Expenses - Other Expenses - Taxes - Depreciation + Other Incomes. To disclose the details of Profit and Loss Adjustments, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports(2012) > List of Accounts Select Profit and Loss Adjustments and press Ctrl+Enter 15

19 Figure 2.10 Profit and Loss Adjustments screen In Profit and Loss Adjustments screen, two different values are displayed for Net Profit. 1. Net Profit as per Profit and Loss Account: Net Profit displayed in this field is captured from Profit & Loss A/c 2. Net Profit as per MCA - Taxonomy Elements: Net Profit is displayed based on the mapping of MCA - Taxonomy Elements. The Net Profit displayed in both the fields should be the same and this confirms that books of accounts and the details disclosed in Instance Document are correct. As different companies follow different methods to arrive at Profit, difference in Net Profit may be found. For Example: ABC Company has recorded all the adjustment entries in the books of accounts but has not mapped to Taxonomy elements to generate XBRL Instance Document. In this case, Net Profit as per Profit and Loss Account will be less than the Net Profit as per MCA - Taxonomy Elements. Hence, while disclosing the Profit and Loss Adjustments details, companies can follow one of the methods given: Profit and Loss Adjustments are already accounted in the Books of Accounts 16

20 Profit and Loss Adjustments are not accounted in the Books of Accounts Profit and Loss Adjustments 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 that are entered manually will be considered only for Taxonomy elements and will not affect the books of accounts. For Example: ABC Company has already accounted tax paid - Rs. 51,500. Hence, the value of Current Tax is being entered manually in Profit and Loss Adjustment. To enter the value of current tax in Profit and Adjustment screen manually, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports(2012) > List of Accounts > Profit and Loss Adjustments > Press Ctrl + Enter Click Current tax pertaining to current year and enter the adjustment value. Figure 2.11 Profit and Loss Adjustment screen after manually adjusting tax paid 17

21 On disclosure of all the Profit and Loss Adjustments, the Total profit (loss) for period (as per MCA Taxonomy Element) and Total profit (loss) for period as per Books of Accounts transferred to Balance sheet will be displayed. Total profit (loss) for period (as per MCA Taxonomy Element) = Net Profit as per MCA Taxonomy Elements - Taxonomy Element amount (addition/subtraction) Total profit (loss) for period 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. In case there is any difference, the Difference amount will be displayed in Red Profit and Loss Adjustments are not accounted in the books of Accounts In case the company has not accounted the Profit and Loss Adjustments, for example: ABC Company wants to allocate Rs. 51,500 towards Tax Payable. The same has not been accounted for in the Books of Accounts. To disclose such information for taxonomy elements and Books of Accounts and adjust the value in Profit and Loss Adjustments screen, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports 1. Select MCA Reports(2012) and then click List of Accounts. 2. Select Profit and Loss Adjustments and press Ctrl + Enter. 3. Navigate to the appropriate Taxonomy element and click F7: Create Voucher button or press F7 key to navigate to Journal Voucher to record the adjustments. 18

22 Figure 2.12 Selecting Create Voucher option In Journal Voucher, 4. Debit - Profit & Loss A/c and enter the amount allocated in Amount field. 5. Credit - Tax Payable ledger. On selecting the ledger, Tally.ERP 9 displays the Profit and Loss Adjustments sub-screen to select the Taxonomy elements towards which the value has to be mapped. In this screen, select the appropriate taxonomy element, for example: Current Taxes. 19

23 Figure 2.13 Selecting Adjustment Type in Journal Voucher 20

24 The completed Accounting Voucher Creation (Journal) screen appears as shown below: 6. Click Yes or press Enter to save. Figure 2.14 Completed Journal Voucher All adjustments 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 screen. From Journal Voucher, Tally.ERP 9 will not allow the user to navigate to any other vouchers. 7. Press Escape from Journal Voucher to navigate back to Profit and Loss Adjustments screen. On accepting the voucher, the allocated value will be displayed in Profit and Loss Adjustments screen as shown: 21

25 Figure 2.15 Profit and Loss Adjustments screen with Auto filled value On disclosure of all the Profit and Loss Adjustments, the Total profit (loss) for period (as per MCA Taxonomy Element) and Total profit (loss) for period as per Books of Accounts transferred to Balance sheet will be displayed. 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. Additional disclosure on discontinuing operations - The company can disclose any Gain or Loss that is recognised on disposal of assets or settlement of liabilities determinable to a discontinuing operation in the Profit and Loss Adjustment screen. To do so, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports 1. Select MCA Reports(2012) and then click List of Accounts 2. Select Profit and Loss Adjustments and press Ctrl + Enter 22

26 3. Navigate to the section Additional disclosure on discounting operations and enter any such recognised gain/ loss against the line item Pre-tax gain or loss recognised on disposal of assets or settlement of liabilities attributed to discontinuing operations. Figure 2.16 Additional Disclosure on discontinuing operations Earnings Per Equity Share Company has to disclose Basic and Diluted Earnings per share on the undistributed profits, Basic and Diluted Earnings per share before extraordinary items along with the information of Nominal Value of per equity share. Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports 1. Select MCA Reports(2012) and then click List of Accounts. 2. Select Profit and Loss Adjustments and press Ctrl + Enter. 3. Navigate to the section Earnings per equity share. Figure 2.17 Earnings Per Equity Share 4. Enter Basic earnings, Diluted earnings, Basic earnings before extraordinary items, Diluted earnings before extraordinary items, Nominal value per equity share against the respective line item. From Profit and Loss Adjustments screen, users can view the Journal Vouchers recorded using F7: Create Vouchers button. To view Journal Vouchers recorded from Profit and Loss Adjustments screen, click on F8: Show Vouchers button or press F8 key. Journal Voucher lists only those Journal Voucher which are recorded from Profit and Loss Adjustments report. 23

27 2.2.4 Cash Flow Statement Every enterprise has to prepare a Cash Flow Statement to report cash flows during the period classified by Operating, Investing and Financing Activities in a manner which is most appropriate to its business. An enterprise can report cash flows using either, 1. Direct method Major classes of gross cash receipts and gross cash payments are disclosed. 2. Indirect method The net profit or loss is adjusted for the effects of transactions of a non-cash nature, any delays or accruals of past or future operating cash receipts or payments and items of income or expense associated with investing or financing cash flows. An enterprise has to disclose details for the following while reporting the cash flows of Operating, Investing and Financing activities. 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 Preparing Cash Flow Statement in Tally.ERP 9 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. In this report, information for Cash flows from operating activities, Cash flows from investing activities and Cash flows from financial activities are entered. Given below are the list of activities: Cash flows from operating activities Adjustments of amortization, finance costs, dividend income, gain or loss on unrealised foreign exchange, share-based payments, non-cash items etc. Changes in trade payables, trade receivables, current and non-current liabilities, inventories, provisions. 24

28 Dividends received, Interest Paid and Received, Income Taxes paid/refund received and Other Inflows/Outflows of Cash. Proceeds from/payments of Extraordinary items. Cash flows from investing activities Cash Flow from losing control of/used in obtaining control of subsidiaries Receipts from/payments to Sale/Purchase of Equity or Debt Instruments of other entities Receipts from/payments to Sale/Acquisition of interests in Joint Ventures Share of profits from/investment in Partnership firm or Association of Persons Sale/Purchase of Tangible Assets Advances and loans made to/received from other parties Payments for/receipts from contracts - Future, Forwards, Option and Swap Dividends and Interest Received Income taxes paid/refunds received and proceeds from government grants Proceeds from/payments of Extraordinary items Cash flows from financing activities Proceeds from Issue of Shares, other equity instruments, debentures, notes and bonds Proceeds from/repayments of Borrowings Dividends and Interest Paid Income taxes paid/refunds received Proceeds from/payments of Extraordinary items The value of Effect of Exchange rate changes is entered under Cash and Cash Equivalents. If the company is following a different Type of Cash Flow Statement, the same can be configured in General Information about Financial Statements from the Additional Details screen. When the Type of Cash Flow Statement is configured, the same will be captured in Method Used to Generate 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 Statement screen. Cash Flow Statement Type can be configured only from General Information about Financial Statements only. To change the type of Cash Flow Statement: Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > Additional Details > General Information 25

29 Disclose Details in Cash Flow Statement - Manual For Example: ABC Company has generated revenue from sales of goods and sales of service. To enter these values in Cash Flow Statement manually, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports(2012) > List of Accounts > Cash Flow Statement The Cash Flow Statement appears as shown: Figure 2.18 Cash Flow Statement 1. In Reporting Year column tab down to Proceeds from sales of tangible assets and enter the value for sales revenue. 2. Similarly, tab down to Proceeds from sales of intangible assets and enter service revenue value. 3. Enter the cash flow values for operating activities, investing activities and financial activities against the respective line items. 26

30 The Cash Flow Statement appears as shown: 4. Save the changes after entering all details. Figure 2.19 Cash Flow Statement after updating details In case the company has previous yea r data, then the data can be loaded using the option Ctrl+F3: Previous Cmp. The previous year s closing balances will be displayed in Previous Year Amount column. Disclose Details in Cash Flow Statement - Auto Fill Company can disclose the Cash Flow details by either entering the value manually or using the auto-fill feature. For Example: ABC Company has to disclose details of Decrease or Increase in Trade Receivables during the Period. In this case to auto-fill the value, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports(2012) > List of Accounts > Cash Flow Statement 1. In Reporting Year column tab down to Adjustments for decrease (increase) in trade receivables field. 27

31 2. Click S: Show Ledger button or press Alt+S keys to view the List of Ledgers. By default the List of Ledgers screen displays the ledgers grouped under Bank Account. Figure 2.20 List of Bank Ledgers 3. Select the HDFC Bank LTD A/c ledger from List of Ledgers, to view the List of Transactions for selected ledger. 4. In List of Transactions for Selected Ledgers screen, select the appropriate transaction (use Spacebar to select the transaction). Figure 2.21 List of Transactions for Selected Ledgers 28

32 To view the transactions in Display mode for more information, press Ctrl+Enter key or click the button Ctrl+Enter: Voucher.. 5. Press Enter. The transaction amount will be displayed against the ledger. Figure 2.22 Ledger with Amount of Transaction selected 6. Press Ctrl+A or click Ctrl+A: Accept button. Amount of Rs. 7,37, will be auto-filled for Adjustments for decrease (increase) in trade receivables in the Amount column. Figure 2.23 Cash Flow Statement with Auto filled Amount 29

33 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. Default Cash Flow report available in Tally.ERP 9 can be viewed using Ctrl+C: Default CF button or by pressing press Ctrl+C keys. The status of completion of the Cash Flow Statements report can be marked as Complete or Incomplete by using the F9: Status button or by pressing F9 key. The same will appear in the Status Column in Additional Details screen. To return to XBRL Cash Flow Statements, press Escape from Default Cash Flow report Select Previous Year Company All those items that are having values in the current year should have corresponding previous year values. If any previous year data is available in Tally.ERP 9 in another company, the same can be loaded using the Ctrl+F3 option by specifying the data directory path. Once the previous year data is loaded, the current mappings can be copied and previous year information can be entered by selecting the respective previous year company in respective screens. To add previous year s data of a company, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts Click Ctrl+F3: Previous Cmp. button or press Ctrl+F3 keys to open the previous year s company selection screen. Figure 2.24 Selection of Company with Previous Year s Data In case MCA - Reports feature is not enabled for the Previous Year company data, while selecting the company Tally.ERP 9 displays the message - MCA Reports are not enabled, do you want to enable?. 30

34 Figure 2.25 Message 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. Figure Display of Previous Year Company Loaded Load Previous Year data from the same company In case the data is having information with respect to current financial year and previous financial year, then the previous year information can be retrieved. 31

35 Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts Click F2: Period button or press F2 key. Figure 2.27 Previous Year Period In the Assessment Year screen, enter the previous year date in the Beginning field under Financial Year. Press Enter. The Pervious Year Company field will be changed to Previous Year Period and based on the Financial Year Beginning period the Previous Year Period will be displayed Restore Mapped List of Accounts Restore option will revert all the List of Accounts mapping for the selected Group/Subgroup/ Ledgers. You can revert mapping for all Groups/Subgroup/Ledgers or individual line items using the Restore option. To restore list of mapping, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts Click Ctrl + F10: Restore or press Ctrl+F10 keys to restore the List of Accounts configuration/mapping. If the Restore option is used without selecting any of the Ledgers/Groups/Sub-groups, then system will understand that the restore instruction is for all the List of Accounts and will display the following message. Figure 2.28 Message to Restore All the Accounts 32

36 Click Yes or press Y to confirm restoring of mapping. On confirmation it will revert all the set mapping which cannot be undone. To revert the configuration of one or few List of Accounts, In the List of Accounts screen, select the Ledgers/Groups/Subgroup using spacebar Click Ctrl+F10: Restore button or press Ctrl+F10 keys Click Yes or press Y in the confirmation message View Checklist A Check List for Generation of Reports is also provided in Tally.ERP 9, this report displays the details which are mandatory and they indicate completion of disclosure of details for MCA Taxonomy. Before generating MCA reports, this check list can be referred to verify whether all the information is disclosed. Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts Click L: Checklist or press Alt+L keys to view the Check List for Generation of Reports. Figure 2.29 Check List for Generation of Reports From this screen user can drill down to respective screens for each list item to disclose the details. 33

37 Navigate to a line item and press Enter Disclose the details for the selected line item and accept the changes to return to Check List for Generation of Reports screen. Similarly, you can drill down for each item and disclose respective details. 2.3 Configure Mandatory Information For proper disclosure of financial reports, the Ministry of Corporate Affairs has defined certain guidelines, where some of the Operating and Non-Operating Informations are identified as Mandatory to be disclosed in the financial reports by all the Registered companies. In Tally.ERP 9, you can view the Mandatory Information to be captured in: Balance Sheet Cash Flow Company Information Profit and Loss Account The mandatory informations will be automatically captured from the Books of Accounts that is maintained by the company. Company 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 > MCA Reports (2012) > List of Accounts Click M: Mandatory Info. or press Alt + M to view Select Report screen In Select Report screen, select the report (For Example: Balance Sheet) from the List of Report Names The Mandatory Information for Balance Sheet screen is displayed as shown: 34

38 Figure 2.30 Mandatory Information for Balance Sheet Balance Sheet In Mandatory Information for Balance Sheet screen, the mandatory taxonomy elements for balance sheet appear on the left side. The current and previous amount for each mandatory taxonomy head appear 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 EQUITY AND LIABILITIES and ASSETS will be automatically captured based on List of Accounts configured. If any of the Mandatory Information is not applicable then it must be filled with zero to generate valid MCA Reports. To fill Zero against taxonomy without values in the Mandatory Information for Balance Sheet, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. Click M: Mandatory Info. or press Alt + M to view Select Report screen 2. In Select Report screen, select Balance Sheet from the List of Report Names 3. In the Mandatory Information for Balance Sheet screen, click Z: Set Zero button or press Alt+Z keys 35

39 Figure 2.31 Set Zero for Balance Sheet ledgers Zero will be displayed for the mandatory informations without value. View MCA Reports Balance Sheet after configuring mandatory information To view the MCA Reports - Balance Sheet, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > Balance Sheet 36

40 Figure 2.32 MCA Reports - Balance Sheet Cash Flow In Cash Flow Statements all the fields are mandatory. The Cash Flow Statement configured from MCA-XBRL Master Configuration screen will be displayed here. From this screen, you cannot enter/specify the amount to taxonomy elements. However, this can be used to double check the amounts for all taxonomy elements and also to compare the amount entered in cash flow statement with default cash flow statement. To open Cash Flow with mandatory information, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. Click M: Mandatory Info. or press Alt + M to view Select Report screen 2. In Select Report screen, select Cash Flow from the List of Report Names 37

41 Figure 2.33 Cash Flow Statement View MCA Reports - Cash Flow statement after configuring mandatory information To view the MCA Reports - Cash Flow statement, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > Cash Flow 38

42 2.3.3 Company Information Figure 2.34 MCA Reports - Cash Flow statement This screen displays the mandatory taxonomy elements in Company Information screen and also allows you to fill or correct company information using the Fill MandatoryInfo option To open Company Information with mandatory details and fill missing details, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. Click M: Mandatory Info. or press Alt + M to view Select Report screen 2. In Select Report screen, select Company Information from the List of Report Names 39

43 Figure 2.35 Company Information Screen 3. To fill the mandatory Company Information, click F: Fill Mandatory Info button or press Alt+F keys to view General Information screen. 4. Enter the missing details or make changes needed in the General Information screen. 5. Save the changes and return to Company Information screen. The details added or changed is updated in Company Information screen Profit and Loss Account In Profit and Loss Account, all the fields are mandatory. The Profit and Loss Adjustments done from MCA-XBRL Master Configuration screen will be displayed here. From the Mandatory Information for Profit and Loss Account screen, you cannot enter/specify the amount to taxonomy elements. However, this can be used to ensure all taxonomy elements carry some amount, not zero. Else, configure the same in Profit and Loss Adjustments screen. If any of the Mandatory Information is not applicable then zero (0) needs to be filled for the same. To fill Zero in mandatory field without value, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. Click M: Mandatory Info. or press Alt + M to view Select Report screen 40

44 2. In Select Report screen, select Profit and Loss Account from the List of Report Names 3. In the Mandatory Information for Profit and Loss Account screen, click Z: Set Zero button or press Alt+Z keys Figure 2.36 Profit & Loss Account Zeros will be filled against the mandatory informations without Value. View MCA Reports - Profit & Loss A/c after configuring mandatory information To view the MCA Reports Profit & Loss A/c Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > Profit & Loss A/c 41

45 2.3.5 Show Unmapped List of Accounts Figure 2.37 MCA Reports - Profit & Loss A/c You can configure the List of Accounts screen to display only unmapped Groups/Sub-Groups/ Ledgers using the Show Unmapped option. Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts Click S: Show Unmapped or press Alt+S keys to view the unmapped Group/Sub-groups/ Ledgers. 42

46 Figure 2.38 Display of Unmapped List of Accounts Press Alt+F1 to view the unmapped List of Accounts. 43

47 Lesson 3: Generate MCA Reports 3.1 Generate MCA Reports When the List of Accounts is configured and Additional Details are verified, you can generate MCA Reports from List of Accounts screen. For information about Additional Details refer to XBRL section in Tally.ERP 9 Reference Manual. To generate MCA Reports, Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > MCA Reports (2012) > List of Accounts 1. Click Ctrl+E: Generate Reports button or press Ctrl+E keys to view Configuration screen. 2. In Configuration screen, The Export Location field displays the path where Tally.ERP 9 is installed, retain the path or enter details of the path where files are to be exported. In the Output Balance Sheet File Name field, Tally.ERP 9 by default displays the output file name as BS.XML. You can retain this name or specify a different output file name. In the Output Profit and Loss File Name field, Tally.ERP 9 by default displays the output file name as PL.XML. You can retain it or specify a different output file name. Figure 3.1 Export Location Configuration Screen Press Enter. The exported files are saved in the selected directory with the file names specified in configuration screen. 44

48 Generate MCA Reports Figure 3.2 Exported Files in Tally.ERP 9 Folder You can proceed to validate, pre-scrutinise and export the xml files after validation Attach instance document to the Form 23AC-XBRL and Form 23ACA- XBRL There is a separate set of Form 23AC-XBRL and Form 23ACA-XBRL available on the MCA portal for filing in XBRL format. 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 23ACA-XBRL 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 e-form filing process. Ensure that the attached instance documents are validated and pre-scrutinised using the XBRL Validation tool. 45

49 Generate MCA Reports Ensure that the latest validation tools and forms are used for filing. It is recommended to check the validation tool updates regularly on Ministry of Corporate Affairs website. For more information on MCA Reports and XBRL Formats, refer to XBRL section in Tally.ERP 9 Reference Manual. 3.2 content content 2 46