Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
Records checklist
- Cash book, ledger, journal
- Bank statements; sales & purchase registers
- GST returns, TDS returns
- Fixed-asset register, stock and loan details
Reconciled with GST/TDS
Turnover must reconcile with your GST returns and TDS with Form 26AS, so keep these aligned before the audit.
Getting the file audit-ready
Audits run faster when the records reconcile before the auditor starts. Tie your sales figure to your GSTR-1 and GSTR-3B, your purchases and input credit to GSTR-2B, and your TDS to Form 26AS and the TDS returns. Have the year’s bank statements, a closing stock statement with valuation basis, the fixed-asset register with additions and depreciation, and confirmations for loans taken or given. Keep invoices for major expenses handy, since the auditor samples them. Sorting mismatches — a sale recorded but missing from GST, or TDS in 26AS not booked — in advance avoids last-minute corrections and reduces the disallowances that show up in the report. It also helps to keep the previous year’s audited balance sheet, the tax computation, and challans for advance tax and self-assessment tax in the same file, since the auditor ties opening balances and tax payments back to these.