CORAA
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AI Modules/Engagement Setup/లెడ్జర్ Classification
4-Dimensional Classification· सेटअप

లెడ్జర్ Classification

Classify లెడ్జర్‌లు under ICAI guidelines once. Year 2 opens with zero లెడ్జర్‌లు to reclassify.

CORAA లెడ్జర్ Classification across four statutory dimensions

Every వౌచర్ in the books has four statutory consequences: which TDS section applies (192 to 206), which TCS section (206C variants), which GST nature (కాదుrmal, RCM, Composition, Exempt, Nil-rated), and which Schedule III line code (A1 Equity Capital through P9 Other Expenses). CORAA captures all four classifications in one లెడ్జర్ Classification exercise. AI auto-classifies roughly 80 percent on first ingest; the ఆడిటర్ confirms the residual. Mappings persist year-on-year.

  • Four statutory dimensions in one exercise: TDS, TCS, GST, Schedule III
  • AI auto-classifies ~80% of లెడ్జర్‌లు on first ingest
  • ఆడిటర్ confirms or overrides the residual 20%
  • One-click acceptance for AI suggestions with ≥90% confidence
  • Mappings persist across financial years
  • Rule weights adapt per client engagement
Two paths, one ledger

The old way, and ours.

Two paths to the same audit conclusion. One leaves traces; the other doesn't.

Traditional

The old way

  • -ఆడిటర్ classifies లెడ్జర్‌లు from scratch every financial year
  • -TDS section, GST nature, Schedule III line maintained in separate Excel sheets
  • -Inconsistencies between sheets create సరిపోలిక effort downstream
  • -Senior partner re-explains classification logic to article assistants వార్షికly
First ఆడిట్ classification: 4-6 గంటలు of partner time. Repeats every year.
CORAA

On the Ledger

  • Single లెడ్జర్ Classification screen captures all four dimensions
  • AI pre-classifies లెడ్జర్ names against ICAI Standards on ఆడిట్ing guidance
  • Year 1: 30-45 minute review of AI suggestions
  • Year 2: typically zero లెడ్జర్‌లు requiring reclassification
  • ఆడిట్ log preserves who classified what and when, per SA 230
Year 1 classification: under 45 minutes. Year 2 onwards: typically under 5 minutes.
How it works

Three steps. Every trace logged.

Step 01

AI pre-classifies on ingest

After the ERP data ingests, the AI reads every లెడ్జర్ name and narration pattern, then proposes classifications across TDS section, TCS section, GST nature, and Schedule III line. Each suggestion shows a confidence score.

Step 02

ఆడిటర్ reviews and confirms

The లెడ్జర్ Classification screen lists లెడ్జర్‌లు grouped by confidence band. Above 90 percent confidence: one-click accept all. Between 70 and 90 percent: review individually. Below 70 percent: requires explicit ఆడిటర్ classification.

Step 03

Mappings persist year-on-year

Classifications are stored against the engagement, not the year. తదుపరి year's ఆడిట్ opens with the same లెడ్జర్ names already classified. The ఆడిటర్ reviews only what changed: new లెడ్జర్‌లు, renamed లెడ్జర్‌లు, or లెడ్జర్‌లు where Schedule III mapping shifted.

Inside the module

What you actually get.

TDS Section dimension

Maps every applicable లెడ్జర్ to its TDS section under the Income Tax Act: Sec 192 Salary, 194A Interest non-bank, 194C Contractor, 194I Rent, 194JB Professional, 194Q Goods Purchase, 194R Perquisites, 206AB కాదుn-filer higher rate. Drives Form 3CD Clause 34(a).

  • ›Threshold checks per section
  • ›Rate verification (10% Bldg, 2% P&M for 194I, etc.)
  • ›Lower-deduction certificate (Sec 197) handling
  • ›Sec 206AB non-filer flagging

TCS Section dimension

Maps sale లెడ్జర్‌లు to TCS sections under Sec 206C: 206C(1) Scrap, 206C(1F) Motor Vehicle over ₹10L, 206C(1G) Overseas remittance, 206C(1H) Sale of Goods over ₹50L buyer-wise.

  • ›Buyer-wise cumulative threshold tracking for 206C(1H)
  • ›Per-invoice threshold for 206C(1F)
  • ›Form 27C zero-rate declaration handling
  • ›Sec 206CCA non-filer higher rate

GST Nature dimension

Classifies each లెడ్జర్ by GST nature: కాదుrmal (ITC eligible), RCM (reverse charge), Composition (no ITC), Exempt, Nil-rated, Zero-rated (exports), Blocked (Sec 17(5)), కాదుn-GST.

  • ›Section 17(5) blocked credit detection
  • ›RCM applicability per Sec 9(3) / 9(4)
  • ›Rule 36(4) ITC limit feeds from this classification
  • ›Used by Form 3CD Clause 44 GST-wise break-up

Schedule III Line dimension

Maps every లెడ్జర్ to its Schedule III line code per కంపెనీలు Act 2013 Schedule III. Division I (Indian GAAP / AS) for most entities; Division II (Ind AS) for listed and large unlisted. Drives Balance Sheet, P&L, Cash Flow, కాదుtes to Accounts, and ratios.

  • ›~90 line codes from A1 Equity through P9 Other Expenses
  • ›Framework selector toggles between Division I and Division II
  • ›Current vs non-current split for amendment 2021 ageing
  • ›Mapping tab on Schedule III WP is read-only from this classification
Frequently asked

Answers, up front.

CORAA reads లెడ్జర్ names, group hierarchy from the Chart of Accounts, and narration patterns from sample వౌచర్‌లు. It matches against a dictionary of ICAI-aligned classifications built from prior engagements and Standards on ఆడిట్ing guidance. Each proposal carries a confidence score from 0 to 100. Above 90 is high-confidence; the ఆడిటర్ can accept all such suggestions in one click.
Mixed-purpose లెడ్జర్‌లు need split classification. CORAA flags these as 'optional GST classification' and lets the ఆడిటర్ either subdivide the లెడ్జర్ or apply GST at the వౌచర్ level rather than the లెడ్జర్ level. For Schedule III mapping, లెడ్జర్‌లు can split between two lines with a percentage allocation.
If the GL Code is the same and only the name changed, the classification persists by code. If a new GL Code appears, it shows up as 'unclassified' and the ఆడిటర్ classifies it once. The ఆడిట్ లాగ్ captures the rename event.
See it on a real ledger

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Ledger Classification AI | TDS, TCS, GST, Schedule III in One Setup | CORAA | CORAA