An audit-ready financial pack for a festival trust or housing society is the set of year-end statements an auditor needs: a Balance Sheet, an Income & Expenditure account, and a Receipts & Payments account for the financial year. Om Kosh generates all three from the collections, expenses, sponsorships and vendor payments you already recorded, so your CA reviews and signs finished statements instead of building them from a diary.
Why mandals and societies are audited
Many Ganpati and Navratri mandals are registered as public trusts, and co-operative housing societies are registered under state co-op law. Both carry statutory audit obligations. In Maharashtra, a public trust’s accounts follow the Bombay Public Trusts Act formats (Schedule VIII balance sheet and Schedule IX income & expenditure), and a co-op housing society’s audit uses the MCS Act formats including Form J. The CA signs the audit, Om Kosh’s job is to hand them clean statements.
What goes into each statement
The three statements answer three different questions.
- Receipts & Payments, actual cash in and out over the year
- Income & Expenditure, what you earned and spent, matched to the period
- Balance Sheet, what the trust/society owns and owes at year end
- Supporting schedules, collections, expenses with bills, sponsorships, assets
From daily entries to a signed audit
Because every rupee was recorded at the point it moved, with a receipt on the way in and a bill on the way out, the year-end pack is a rollup, not a reconstruction. That’s the whole benefit: less CA back-and-forth, fewer “where’s the bill for this?” queries, and a transparency report you can also show residents at the AGM.
Frequently asked questions
Does Om Kosh do the audit?
No. Your mandal’s or society’s CA performs and signs the statutory audit. Om Kosh produces the underlying financial statements, Balance Sheet, Income & Expenditure, Receipts & Payments, so the auditor works from clean, ready data.
What formats apply to a Maharashtra festival trust?
A public trust in Maharashtra typically presents accounts in the Bombay Public Trusts Act formats, Schedule VIII (balance sheet) and Schedule IX (income & expenditure). Co-operative housing societies use MCS Act formats such as Form J. Your CA confirms what applies to your registration.
What makes the statements “audit-ready”?
Every collection has a numbered receipt and every expense has a bill attached, so income and spending are fully supported. The year-end pack rolls those entries up into the standard statements, minimizing back-and-forth with the auditor.