Glossary of Terms ​

Audit Trail ​

Audit Trail (or Edit Log) is a visible trail of evidence enabling one to trace information contained in statements or reports back to the original input source. Audit trails are a chronological record of the changes that have been made to the data. Any change to data including creating new data, updating or deleting data that must be recorded.

Records maintained as audit trail may include the following information:

• when changes were made i.e., date and time (timestamp)
• who made the change i.e., User Id
• what data was changed i.e., data/transaction reference;success/failure

Audit trails may be enabled at the accounting software level depending on the features available in such software or same may be captured directly in the database underlying such accounting software.

Accounting Software ​

Accounting Software is a computer program or system that enables recording, maintenance and reporting of books of account and relevant ecosystem applicable to business requirements. The functionality of such accounting software differs from product to product. Every organization today employs multiple software for accounting, its operations and other requirements like consolidation, collection of data. For the purposes of this Implementation Guide, only the accounting software which is relevant for maintaining books of account should be considered for enabling of audit trail.

Books of Account ​

"Books of Account" as per Section 2(13) of the Act includes records maintained in respect of -

(i) all sums of money received and expended by a company and matters in relation to which the receipts and expenditure take place;

(ii) all sales and purchases of goods and services by the company;

(iii) the assets and liabilities of the company; and (iv) the items of cost as may be prescribed under section 148 in the case of a company which belongs to any class of companies specified under that section;

Service Provider ​

Service Provider – An organization supplying services to one or more (internal or external) Customers.

Software as a Service ​

Software as a Service a method of software delivery using licensing arrangements in which software is accessed online via a subscription, rather than bought and installed on individual computers.