Chapter - II ( SALES TAX ) Part -2
APPLICATION OF TALLY IN A TRADING UNIT
(INTRA
STATE PURCHASE AND SALE)
OR
(LOCAL PURCHASE AND SALE)
So after company
creation , in the gateway of tally section create ledgers like purchase , sales
etc. For this go to ACCOUNTING INFO menu – select ledger- choose create
option-start creating ledgers. Such as :-
1 1. Supplier ledger.
Put
the name of the respective supplier in the name box , put it under sundry
creditor group, give the basic details like address , GST reg. no. etc., accept
it and save it by pressing enter key.
1 2.Customer ledger.
Put
the name of the respective customer in the name box , put it under sundry
debtor group, give the basic details like address , GST reg. no. etc., accept
it and save it by pressing enter key.
Screenshot
for Customer Ledger.
1 3.Bank ledger.
Put
the name of the respective bank in the name box , put it under bank account
group, give the basic details like address , GST reg. no. etc., accept it and
save it by pressing enter key.
Screenshot
for Bank Ledger.
1 4.Purchase ledger.
Put
the rate of purchase( purchase@12%) in the name box , put it under purchase
account group, give the basic details like GST applicability, purchase
classification(Purchase Taxable), define the rate of IGST( CGST+SGST) accept it and save it by pressing enter key.
1 Screenshot
for Purchase Ledger.
5.Sales ledger.
Put
the rate of sales( sales@12%) in the name box , put it under sales account
group, give the basic details like GST applicability, sales classification(Sales
taxable), define the rate of IGST( CGST+SGST)
accept it and save it by pressing enter key.
Screenshot
for Sales Ledger.
1 6.Input SGST ledger.
Put
the rate of sgst (sgst@6%) in the name box
, where the rate of purchase tax
is 12%, put it under Duties & Taxes group, give the basic details like type
of duty as GST, nature of tax as SGST ,
applicable % of tax, accept it and save it by pressing enter key.
Screenshot
for Input SGST Ledger.
1 7.Input CGST ledger.
Put
the rate of sgst (sgst@6%) in the name box
, where the rate of purchase tax
is 12%, put it under Duties & Taxes group, give the basic details like type
of duty as GST, nature of tax as SGST ,
applicable % of tax, accept it and save it by pressing enter key.
Screenshot
for Input CGST Ledger.
1 8.Output CGST ledger.
Put
the rate of cgst (cgst@6%) in the name box , where the rate of sales tax is 12%, put it
under Duties & Taxes group, give the basic details like type of duty as GST,
nature of tax as CGST , applicable % of
tax, accept it and save it by pressing enter key.
Screenshot
for Output CGST Ledger.
1 9.Output SGST ledger.
Put
the rate of sgst (sgst@6%) in the name box
, where the rate of sales tax is 12%, put it under Duties & Taxes
group, give the basic details like type of duty as GST, nature of tax as SGST
, applicable % of tax, accept it and
save it by pressing enter key.
1 Screenshot
for Output SGST Ledger.
10.Electricity Bill A/c ledger.
Put
the name as Electricity Bill A/c in the name box , put it under indirect
expense group, give the basic details as it is ( no change) accept it and save
it by pressing enter key.
Screenshot
for Electricity Bill A/c ledger.
1 11.Telephone Bill A/c ledger.
Put
the name as Telephone Bill A/c in the name box , put it under indirect expense group,
give the basic details as it is ( no change) accept it and save it by pressing
enter key.
1 Screenshot
for Telephone Bill A/c ledger.
12.House Rent A/c ledger.
Put
the name as House Rent A/c in the name box , put it under indirect expense group,
give the basic details as it is ( no change) accept it and save it by pressing
enter key.
Screenshot
for House Rent A/c ledger.
1 13.Staff Salary A/c ledger.
Put
the name as Staff Salary A/c in the name box , put it under indirect expense group,
give the basic details as it is ( no change) accept it and save it by pressing
enter key.
1 Screenshot
for Staff Salary A/c ledger.
14.Petty Cash Expense A/c ledger.
Screenshot
for Petty Cash A/c ledger.
Put
the name as Petty Cash Expense A/c in the name box , put it under indirect
expense group, give the basic details as it is ( no change) accept it and save
it by pressing enter key.
The
ledgers discussed above are some of the examples of the basic ledgers . But in
the real field multiple ledgers of similar types has to be created. Such as
more than one supplier, customer, purchase, sales, tax ledgers as per the
requirement has to be created.
Next
after the necessary ledger creation , press escape key to back to the gateway
of tally again where select inventory info menu and start creating stock
groups, stock categories, stock units, stock godown and finally stock items.
Actually the main intention here is to create the item database of which you
are going to purchase and sale. For this you have to define the proper group,
category, godown , unit and finally the item or the name of the product that
you are going to purchase or sale.
Screenshot
for Stock Group
Screenshot
for Stock Category ledger.
Screenshot
for Stock Unit
Screenshot
for Stock Godown
Screenshot
for Stock Item
Next after the
accounting and inventory database creation , in the gateway of tally section go
to transaction section and there select accounting voucher section where start
creating vouchers like purchase, sales, receipt , payment ,journal and contra.
1 1. Purchase voucher
In the accounting
voucher section press F9 key to get the purchase voucher creation screen. Where
define the voucher no, date, put the supplier name under party account name ,
put the name of the item under item heading, specify the godown name , put the
quantity, the rate, put discount if any, add the necessary CGST and SGST , give
the proper narration as required , accept it and save it by pressing enter key.
Screenshot
for Purchase Voucher
1.Sales voucher
In
the accounting voucher section press F8 key to get the sales voucher creation
screen. Where define the voucher no, date, put the customer name under party
account name , put the name of the item under item heading, specify the godown
name , put the quantity, the rate, put discount if any, add the necessary CGST
and SGST , give the proper narration as required , accept it and save it by
pressing enter key.
3.Receipt voucher
In
the accounting voucher section press F6 key to get the receipt voucher creation
screen. Where define the voucher no, date, define the receipt a/c as cash or
bank , put the name of the customer under particular heading, specify the
amount received( against reference-receiving full payment from the party or on
account-receiving part payment from the party) give the proper narration as
required , accept it and save it by pressing enter key.
Screenshot
for Receipt Voucher
Screenshot of Contra Voucher for depositing cash into the bank
Screenshot of Contra Voucher for withdrawal of cash from the bank
6. Recurring expenditure Payment Vouchers
After purchase and sales voucher has been made we can make receipt voucher to receive payment from the customer also make payment voucher to payment to the supplier. But the thing is that making payment to the supplier is not exactly an expense to you. Because after purchasing goods from the supplier you sell those goods to the customer with profit and also receive the full amount along with the investment and profit from the customer. So to find out the actual profit and loss of the company both income and expense accounts also has to be made. For this reason after making payment to the supplier we also make other recurring expenses payment vouchers like Telephone Bill A/c, Electricity Bill A/c, House Rent A/c, Staff Salary A/c etc. Some of the screenshots of the recurring expense payment vouchers are given below.
Screenshots of Payment Vouchers for Recurring Expenditure
4.Payment voucher
In
the accounting voucher section press F5 key to get the payment voucher creation
screen. Where define the voucher no, date, define the payment a/c as cash or
bank , put the name of the supplier under particular heading, specify the
amount paid ( against reference-giving full payment to the party or on
account-giving part payment to the party) give the proper narration as required
, accept it and save it by pressing enter key.
Screenshot for Payment Voucher
5. Contra Voucher
It is a process of depositing of money to bank or withdrawal of money from the bank.For this in the accounting voucher section press F4 to get the contra voucher creation screen.There if you want to deposit cash into the bank then put bank heading in the account box and cash heading in the particular box. Similarly if you want to withdraw money from the bank then put cash heading in the account box and bank heading in the particular box.
6. Recurring expenditure Payment Vouchers
After purchase and sales voucher has been made we can make receipt voucher to receive payment from the customer also make payment voucher to payment to the supplier. But the thing is that making payment to the supplier is not exactly an expense to you. Because after purchasing goods from the supplier you sell those goods to the customer with profit and also receive the full amount along with the investment and profit from the customer. So to find out the actual profit and loss of the company both income and expense accounts also has to be made. For this reason after making payment to the supplier we also make other recurring expenses payment vouchers like Telephone Bill A/c, Electricity Bill A/c, House Rent A/c, Staff Salary A/c etc. Some of the screenshots of the recurring expense payment vouchers are given below.
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