Frequently Asked Questions

General

What is cloud-based auditing software?

Cloud-based auditing software, aka online or web-based auditing software, is hosted on a remote server. The data is sent to the cloud, processed and returned to the end-user. A company using cloud-based software need not set up individual desktops with software because everyone has the flexibility to access the cloud anytime on any device.

How cloud computing software benefits me?

You can perform audit and compliance activities in real-time with 24/7 access. Everything is online; there’s nothing to install. Data is backed up automatically; updates are free and instantly available. AssureAI Audit automation software is highly secure and reduces upfront business costs.

What are the accounting tools integrated with AssureAI?

The tool is fully integrated with Tally Accounting Software, where we have a facility for a single click data import of entire books of accounts into the AssureAI platform. An API-based data import facility for QuickBooks is under development and will be rolled out soon.

How is data import from Tally done? Should we purchase any separate tool for this purpose?

AssureAI has developed a TDL plugin that will be tagged to all subscribers’ license numbers and provided to them for installation in their machines. Once done, the button for data export to AssureAI will be activated in the customer’s tally, through which the JSON file can be created in a single click for importing into AssureAI.

Which versions of Tally Software for which the TDL Plugin is developed?

TDL plugin for AssureAI Data export is available for both Tally.ERP9 as well as Tally Prime versions.

Does the tool support data imports from large ERP systems like SAP, Oracle, Microsoft Dynamics, Navision, etc.?

The tool does not presently support data imports from these ERP systems.

Does AssureAI support uploading the Tax Audit Report in Form 3CD?

AssureAI provides feature for automatic generation of Annexures for uploading Tax Audit Report in Form 3CD which covers areas like 40A(2)(b), 40A(3) & 40A(3A), 269SS & 269T, 43B & 36(1)(VA) and Ratios. Automatic generation of annexures eliminates the need for data entry, thereby minimising error changes.

What is the provision for ‘mapping/tagging’ of ledgers to pre-defined schedule III heads/sub-heads? Is it time-consuming?

Mapping / Tagging of Ledgers is a one-time activity to be done for the first time, and after that, the system remembers the mapping and carries it forward year after year. Even for the first time, there is a ‘Rule based’ auto-mapping facility with a built-in and customisable rule engine through which generally 60 – 80 % of the ledgers are auto mapped in a ‘single click’. Even for the rest of the logs, there is a facility for bulk selection and application mapping feature, which helps in significantly reducing the time taken for mapping.

Ideally, a client company with around 2000 ledgers will not take a trained user more than 60-75 minutes for the first year and 15-30 minutes from the second year onwards.

Does AssureAI support the generation of Financial Statements only for companies? What about Partnerships and Proprietorship entities?

We support the generation of Financial Statements for all the business entities, including Partnerships, Proprietorships and Companies.

Can we generate Financial Statements as per the Ind AS Format?

No, presently, only IGAAP Financial Statements can be generated from AssureAI.

Whether the tool supports only Annual Audit – or is it possible to conduct Monthly or periodic audits using the tool?

Though the tool is designed for Annual Statutory Audit, the features can be used to conduct monthly or internal audits of clients.

How do we know that the ‘single-click’ data import is free from errors? How do we confirm that all the masters and vouchers are fully imported and that no vouchers are skipped for technical or other reasons?

We have a built-in ‘Ledger Reconciliation’ module which takes care of this aspect. Upon data import and completion of the mapping, AssureAI seamlessly reconstructs the books of accounts in the cloud by posting all ledgers, opening balances and vouchers, and generating an ‘AssureAI Trial Balance’. This is automatically compared with the ‘Trial Balance’ as imported from the books of accounts, and the Reconciliation is ‘Passed’. This way, errors and omissions in data import are eliminated at the threshold, and the statements generated from AssureAI are always in sync with the underlying books of accounts.

Is there a way to import excel trial balance into your software for preparing for financial statements without using tally / QuickBooks?

This feature is presently not available. However, this is very much on our developmental agenda to provide a part for excel import of Trial Balance or Books and will update here once it is ready and deployed.

It is stated that the clients of CAs are connected through a dedicated Client User Interface (UI). Should clients also take AssureAI Subscription?

No, the client user login is totally free, and there are no charges for that. Also, presently there are no restrictions on the number of clients/client users. The CA can add any number of client users and it is absolutely free.

Whether the Client UI will have all the features available in the CA user interface?

No. The client UI will have only limited functionalities. The client can upload their books of accounts in a Zip File. The client will be able to respond to all the audit queries and upload the Document Requests received from the CA. Besides, the client can also create, approve or accept the letters and documents, such as Engagement letters, MRLs, etc., required as part of the audit workflow procedures.

Is there any limitation on the number of ledgers or vouchers for a client file that AssureAI can handle?

There are no restrictions on the number of vouchers and ledgers for importing the data into AssureAI Cloud.

Security

Where is data hosted?

The data is hosted on Amazon Web Services (AWS) cloud on servers located in India. For more information, visit Security Page.

Is my data safe on the cloud?

AssureAI hosts your data in a secure Amazon web service (AWS). The data is transmitted over the Secure Socket Layer(SSL), the most secure way of data transmission. Audit evidence and other confidential documents are stored on the most secure AWS S3 in an encrypted format.

Does AssureAI have a disaster recovery plan?

Business Continuity Plans are established, maintained and tested using the state-of-the-art backup and disaster recovery services provided by our cloud service provider (Amazon AWS). Processes are designed to support continued business operations with minimal disruptions in case of incidents that affect continuity.

Purchase

What payment methods do you accept?

We accept Razor pay payments through Credit / Debit Cards, Net Banking and UPI payments. Contact us at marketing@assureai.in if your preferred mode of payment is not available on our website so that we will email the quote along with the payment link or NEFT details.

Are there any set-up fees or other hidden charges?

There are no set-up fees or hidden costs with Standard and Premium plans. However, the Enterprise plan will incur a nominal one-time set-up fee.

How do I switch to a different plan?

You can always upgrade to a higher plan and enjoy additional features.

Can I cancel my subscription anytime?

There is a detailed ‘cancel procedure sequence’. There is a one-month moneyback guarantee for users who have subscribed without a free trial.

What happens if I choose not to renew my subscription?

The customers will be intimated and given a time of 30 days to renew or backup the data. After that, the data will be deleted from the server.

Can I try AssureAI before purchasing a plan?

Yes, we offer a free trial to help you try our product before purchasing it.

Will my annual subscription be renewed automatically?

The subscription will automatically renew if you select the ‘Recurring Payment’ option. Otherwise, we will reach out with renewal notice reminders.

Can I add more user licenses later?

Yes, you can. Please refer to Pricing plans for additional user charges.

What are the system requirements for installing this software?

There are no specific system requirements. Any Windows or MAC PC with a browser and internet connection would suffice.
For exporting data from Tally, you need a licensed version of Tally ERP9 or Tally Prime.

What resources are available for me to use this Audit tool effectively?

A detailed User manual, Knowledge base search feature at the click of a button and Short ‘How-to’ videos are available. Besides, we are available to support whenever required to enable the users to effectively utilise the features in the tool.

Do you offer any discounts?

We are offering ‘Early Adapter’ Discounts for the first 250 Customers. Please reach out to marketing@assureai.in for details of coupon code reference to be used while subscribing from the website.

Do prices include tax?

No. The prices are exclusive of applicable taxes, and an additional 18 % GST applies to the price.

What is the cloud storage for each plan?

The plan comes with 50 GB of S3 file storage for Standard and 100 GB for Premium plans.

What if I need additional storage for my firm?

Additional storage can be purchased from Amazon, and as per the current AWS pricing, it will cost around INR 300-400/- per month for 100 GB storage, depending on the plan tenure chosen.

Trial

How does the free trial work?

Exclusive access to a secure trial environment is provided to the trial user where they can try all features with your clients’ data.

Do I get to try all features during the trial period? Is there a limitation?

Yes. You get to try all features of the product during the trial period, and there is no limitation. You can upload your client’s data and test the tool. We have pre-loaded the trial account with sample data to facilitate a quick review of the tool and save time.

My trial is about to end; what are my options for the next step?

Your ideal next step would be to select a suitable plan for your firm from the Pricing page. If you need help choosing the right plan for your firm, write to us at marketing@assureai.in.

What happens to my data after the trial ends?

The data will be periodically deleted after the trial period ends.

Do I need to give Credit card details to sign-up?

No. You can sign-up and use AssureAI for 14-days without giving your credit card details. At the end of the trial or when you decide to subscribe to our software, you will need to pick up a plan from the Pricing page and proceed to make payment online.

What if I need an extension of my existing trial?

We request you to effectively explore the tool during the trial period to use the resources and support. However, you can write to marketing@assureai.in in case you need an extension.

Can multiple users in my firm try out your tool together?

Yes. Up to 5 firm users can try the tool on a single trial sign-up during the trial period.

How do I get in touch with the Support team during my trial period?

You can get in touch with us by

  1. Raising a ticket from within the AssureAI application,
  2. Using the Chat option from the website https://assureai.in
  3. Sending a mail to support@assureai.in or tickets@assureai.in