Stage 04 of 5 — Notes & Policies

Schedules, notes and policies derive from the grouping

The approved grouping drives the automation: capital movements, the fixed asset register, ageing and the other registers derive from the Trial Balance, and the engine drafts the notes and accounting policies they support. The preparer corrects and concludes instead of typing schedules.

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Why this stage exists

Automation removes the data entry, not the accountability. Every derived figure carries provenance, ties to the statements, and waits for the judgments only the firm can make.

The stage in three parts

What goes in, who acts, what comes out.

Input

The approved grouping
Entity profile and constitution
Prior-year figures where required
Supporting documents and preparer corrections

Accountable action

Review the derived schedules and registers
Correct any derived row that needs it
Refine drafted notes and accounting policies
Confirm the assessments no ledger can answer

Controlled output

Derived NCE schedules with provenance
Fixed asset register on Income-tax block rates — Appendix I, the 180-day rule and section 50(2) block cessation
Draft notes and disclosures
Accounting policy set
Preparation record ready for review

Derived from Trial Balance

Preparation workspace

Preparation workspace
Item	State
Capital movements	Derived
Fixed asset register	Income-tax blocks
Registers & ageing	Tie to statements
MSMED / 43B(h)	Assertion required
Notes and policies	Drafted

Controls

What is enforced here.

Entity-aware derivation
Row-level provenance
Required assertion fields
Versioned preparation changes

See the whole engagement, not just this stage.

Every stage hands the same file to the next one. Nothing is re-keyed.

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Eligible Non-Corporate Entities only. AutoFS supports preparation under the ICAI Guidance Note; applicability, professional judgment, approval and sign-off remain with the firm.

Notes & Policies | How AutoFS Works · AutoFS