Yearly accounts
Yearly accounts in Schedule III, ready for your auditor
Closio prepares your balance sheet, statement of profit and loss, cash flow statement and notes to accounts in the Schedule III format, for any period or date. Every account goes on the line audited companies put it on, and every figure traces back to your ledger.
Prism Labs Private Limited
Statement of profit and loss for the period ended 30 September 2026
Benchmark company · prepared by Closio
Schedule III
What is Schedule III?
Schedule III of the Companies Act, 2013 sets the format every Indian company uses for its balance sheet and statement of profit and loss. Division I applies to companies following Accounting Standards (AS), Division II to those following Ind AS. Closio prepares statements under either.
Mapping
Every account on the right line, with the reason
Closio places each account in your trial balance on a Schedule III line using how 627 audited Indian private limited companies present theirs, and shows the evidence for each choice. You see why an account landed where it did, not just where.
Accounts whose type isn't clear are listed for your review instead of being guessed.
Notes to accounts
Notes, including the 2021 Schedule III disclosures
Closio writes the notes to accounts alongside the statements: accounting policies, a note for each line, receivable and payable ageing schedules and the ratios added by the 2021 Schedule III amendments, plus MSME dues, related parties and contingent liabilities from the details you give.
- Accounting policiesalways
- Revenue, other income and expenses, note by notealways
- Trade receivables and payables ageingSchedule III 2021
- RatiosSchedule III 2021
- Dues to micro and small enterprisesfrom your details
- Related party transactionsfrom your details
- Contingent liabilities and commitmentsfrom your details
Checks
Checked before your auditor sees it
Before the statements go out, Closio checks that the balance sheet balances and the cash flow ties to the actual change in cash, and lists anything that needs a decision. The previous year's figures sit beside the current year's.
Assets equal equity and liabilities
Net cash flow equals the change in cash
A credit balance on an asset is flagged, not hidden
Unclear account types listed for your review
Due dates
When are yearly accounts due?
For a March year end, a private limited company holds its AGM by 30 September, files its financial statements in AOC-4 within 30 days of the AGM, and files its annual return in MGT-7 within 60 days of the AGM.
Dates shown assume the AGM is held on 30 September. Government extensions can move them.
- 31 MarYear ends
- 30 SepAGM held
- 30 OctAOC-4 filed
- 29 NovMGT-7 filed
Yearly accounts questions
What is the Schedule III format?
Schedule III of the Companies Act, 2013 sets how an Indian company presents its balance sheet and statement of profit and loss. Division I is for companies that follow Accounting Standards (AS) and Division II for those that follow Ind AS.
Does Closio prepare Ind AS statements?
Yes. Closio prepares statements under Division I (AS) or Division II (Ind AS), whichever your company follows.
Does Closio prepare the cash flow statement?
Yes. It is built from your opening and closing balances and checked against the actual change in cash, so it always ties.
Can I get statements for any period, not just the year?
Yes. Balance sheet, profit and loss, cash flow and notes for any month, quarter or date, as a PDF, with the previous year's figures alongside for annual accounts.
Does Closio file AOC-4 or the income tax return?
No. Closio prepares the financial statements. You or your CA file AOC-4 and MGT-7 with the MCA and the income tax return with the tax department.
Do we still need an auditor?
Yes. Every private limited company needs a statutory audit. Closio gives your auditor statements where every figure traces back to the ledger, so the audit goes faster.
See your yearly accounts prepared from your own trial balance.
Bring last year's trial balance. We'll show you the Schedule III statements in a 30-minute demo.