Edit the note you are reviewing
Open the relevant sheet/note from the Financials bottom strip. Use its existing edit or working controls. For imported disclosures, check both narrative and table data after saving; text editing should not remove imported tables.
- Review policies for the entity and year, not just their spelling. An imported paragraph can contain an obsolete year or unsupported factual statement.
Capital and reserves
For a proprietor or partnership, review opening capital, contributions/drawings, profit transfer and partner allocation using the relevant capital working. Company share capital and reserves have separate corporate workings. Check comparative balances and reconciliation to the face statements.
PPE and depreciation
Review opening balances, additions, disposals, depreciation and closing balances in the applicable PPE working. Check the distinction between book presentation and tax depreciation. Verify tangible/intangible classification, including software, and reconcile P&L depreciation with the workings.
Closing inventory
Use the applicable stock working or Quick Closing Stock option where shown. Check source valuation and CY/PY values; avoid adding the same stock twice when it is already represented in imported data. Review the resulting inventory and changes-in-inventories figures.
- DTA, depreciation and other source differences need investigation. Do not insert a balancing figure merely to make the note agree.
Continue with a related guide
- Prepare your first financial statements
- Connect Tally directly
- Import Tally files without a connector
- Convert old Excel financials to the new format
- Import CY/PY and refresh an existing year
- Review ledger grouping and opposite balances
- Review alerts, signing details and PDF/Excel downloads
- Use previous-year ITR and supporting-data imports