About Riko AI
What is Riko AI?
Riko AI describes itself as the AI operating layer above Tally. It reads a company's synced Tally data and answers finance questions, produces reports and prepares actions, and it writes to the books only what a person approves.
Riko includes more than 25 reports from Tally, a monthly MIS pack with P&L, cash flow and variance commentary, receivables and reminders, GST reconciliation against GSTR-2A and 2B, bank reconciliation and alerts. For auditors and CA firms, it runs a firm's own procedures across a client's companies, records each step with its evidence, produces workpapers as XLSX, DOCX and PDF files, and logs every proposed and approved change with names and timestamps. It works on the web, Android, iOS and WhatsApp, with data hosted in India.
Who is Riko AI for?
- Indian MSMEs that keep their books in Tally Prime or Tally ERP 9.
- Chartered Accountants and audit teams working from clients' Tally data.
- Finance teams that want reports, reconciliations and reminders without manual extraction.
What type of software is Riko AI?
Riko AI is listed under Audit Software.
What are Riko AI's core capabilities?
- Tally data on demand: Answers questions and runs more than 25 reports from Tally data synced every few minutes, including on WhatsApp.
- MIS and cash: A monthly MIS pack with P&L, cash flow and variance commentary, plus cash, receivables and reminders.
- Reconciliations: GSTR-2A and 2B matched against the purchase register, and bank reconciliation.
- Audit workflows: Runs a firm's procedures across a client's companies with each step and its evidence recorded (Teams plan).
- Workpapers and audit log: Deliverables as XLSX, DOCX and PDF files, and a log of every proposed and approved change with names and timestamps.
- Approval-based actions: Prepares entries and actions but posts nothing to the books without approval.
- ITC Reconciliation
Answers above are based on Riko AI's website, read on 23 Oct 2026.
Who makes Riko AI?
Riko AI is made by NXTLVL Tech Solutions Private Limited, based in Mumbai, India. Its website says data is hosted in India, in the Mumbai region.
What CAs are saying about Riko AI
Riko AI has no reviews on SoftwaresForCA yet.
Key features
- ◐Digital Working Papers — Builds workpapers as XLSX, DOCX and PDF files with figures traced to Tally.Prepare working papers linked to the trial balance with cross-referenced evidence.
- ◐Ledger Scrutiny & Analytics — Ledger drill-downs and variance flags from Tally data.Scan full ledgers for unusual entries, duplicates and high-risk journals (SA 240).
- ◐Review & Sign-off Workflow — Nothing is posted to the books without a person approving it.Route work through preparer, reviewer and partner with review notes and sign-offs.
- ◐File Assembly & Archival — Every proposed and approved change logged with names and timestamps.Lock the completed audit file and keep a trail of edits and approvals (SA 230, SQC 1).
- ◐Trial Balance Import — Syncs Tally data every few minutes; trial balance import not named.Import trial balances from Tally, other accounting software or Excel.
- ◐Cash Flow Statement — Cash flow in the monthly MIS pack.Prepare cash flow statements under AS 3 or Ind AS 7.
- ◐Export & XBRL — XLSX, DOCX and PDF output; XBRL not mentioned.Export statements to Excel or PDF and prepare XBRL files for MCA filing.
- ✓ITC ReconciliationReconcile input tax credit between books, GSTR-2B and GSTR-3B.
Show 42 more items (not supported or not yet verified)
- ?Engagement Acceptance & LettersRun acceptance and independence checks and generate engagement letters (SA 210).
- ?Materiality & Risk AssessmentSet materiality thresholds and assess risks of material misstatement (SA 320, SA 315).
- ?Audit Programmes & SA ChecklistsUse pre-built audit programmes by entity type, mapped to the Standards on Auditing.
- ?Sampling & VouchingSelect samples and attach vouching evidence to each tested transaction (SA 530).
- ?Client Document RequestsRequest, collect and track documents and confirmations from the client (SA 505).
- ?CARO 2020 ReportingWork through CARO 2020 clause by clause and draft the annexure to the audit report.
- ?Audit Report & Representation LettersGenerate audit reports, management representation letters and management letters (SA 580, SA 700).
- ?Ledger Grouping & MappingMap ledgers to financial statement line items and reuse the mapping across years.
- ?Schedule III Financial StatementsGenerate balance sheet and profit & loss in Schedule III format (Division I, II and III).
- ?Non-Corporate FormatsPrepare financial statements for LLPs, partnerships, trusts and proprietorships.
- ?Notes to AccountsGenerate notes, accounting policies and disclosure schedules.
- ?Adjustment EntriesPass audit and closing adjustments without changing the client's books.
- ?Prior-Year ComparativesCarry forward previous-year figures and regroup them for comparison.
- ?Ratio AnalysisCalculate the ratios required under Schedule III with variance explanations.
- ?Consolidated Financial StatementsConsolidate subsidiaries, associates and joint ventures.
- ?Audit Universe & Annual PlanDefine auditable areas and plan internal audits for the year.
- ?Risk & Control MatrixDocument process risks, controls and control owners.
- ?Process Audit ChecklistsUse checklists for processes like procure-to-pay, order-to-cash and payroll.
- ?Control Testing & IFCTest design and operating effectiveness of controls, including internal financial controls.
- ?Observations & Risk RatingRecord findings with risk ratings, root causes and recommendations.
- ?Management Responses & Action TrackingCollect management responses and track action items to closure.
- ?Multi-Location & Branch AuditsRun audits across branches, plants or locations under one engagement.
- ?Internal Audit ReportsGenerate internal audit reports and summaries for the audit committee.
- ?Internal Audit DashboardView open observations, overdue actions and audit progress.
- ?Tax Audit Applicability CheckCheck whether a tax audit is required under Section 44AB.
- ?Form 3CD Clause-wise WorkingPrepare each Form 3CD clause with supporting workings.
- ?Auto-fill from BooksFill Form 3CD details directly from the trial balance and ledgers.
- ?Cash Transaction ChecksIdentify cash payments and receipts under Sections 40A(3), 269SS, 269ST and 269T.
- ?Section 43B DisallowancesIdentify unpaid statutory dues and delayed MSME payments under Section 43B.
- ?TDS Compliance CheckIdentify TDS defaults and related disallowances under Section 40(a)(ia).
- ?Income Tax DepreciationCalculate depreciation by asset block as per the Income-tax Act.
- ?Prior-Year ComparisonCompare Form 3CD details with the previous year's report.
- ?Form 3CA/3CB GenerationGenerate the tax audit report in Form 3CA or Form 3CB.
- ?Income Tax Portal UploadExport the Form 3CD JSON for upload on the income tax portal.
- ?GSTR-9 PreparationPrepare the GST annual return from books and filed returns.
- ?GSTR-9C Reconciliation StatementPrepare the reconciliation statement between books and GSTR-9.
- ?Turnover ReconciliationReconcile turnover and tax between books, GSTR-1 and GSTR-3B.
- ?Ineligible ITC & Reversal ChecksIdentify blocked credits and required reversals under Section 17(5) and Rules 37, 42 and 43.
- ?Reverse Charge VerificationVerify tax payable and paid under reverse charge.
- ?HSN Summary VerificationCheck HSN-wise summaries against books and filed returns.
- ?E-invoice & E-way Bill ReconciliationMatch e-invoices and e-way bills with sales records.
- ?Multi-GSTIN ConsolidationHandle multiple GSTINs of the same PAN in one engagement.