Chapter - II ( SALES TAX ) Part -3

APPLICATION OF TALLY IN A TRADING UNIT

(INTER STATE PURCHASE AND SALE

OR

STATE TO STATE PURCHASE AND SALE)

Open Tally ERP 9.6 in educational or commercial mode.Go to Company information menu and there select create company option to make the profile of the organization of which you are going to find out the balance sheet, profit and loss account , cash balance, bank balance , stock summary etc.

                          Screenshot of Company Information 

                        Screenshot of Company Creation

After company creation in the gateway of tally section , press F11 key which will take you to the company features section where in the inventory feature section enable godown , category and discount feature and also in the statutory & taxation feature enable GST or any other applicable tax.

                            Screenshot for Features setting

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. 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.

                               Screenshot of Supplier Ledger 

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 of Customer Ledger 

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 of Bank Ledger 

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(Inter state purchase taxable), define the rate of IGST accept it and save it by pressing enter key.

                               Screenshot of 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 (Inter state sales taxable), define the rate of IGST accept it and save it by pressing enter key.

                                  Screenshot of Sales Ledger

6.Input IGST Ledger:-

Put the rate of igst (igst@12%) 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 IGST ,  applicable % of tax, accept it and save it by pressing enter key.

                           Screenshot of Input IGST Ledger

7.Output IGST Ledger:-

Put the rate of igst (icgst@12%) 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 IGST ,  applicable % of tax, accept it and save it by pressing enter key.

                          Screenshot of Output IGST Ledger

1  8.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.

                    Screenshot of Telephone Bill A/c Ledger

9. 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 of House Rent A/c Ledger

10. 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.

                         Screenshot of Staff Salary A/c Ledger

11.Petty Cash Expense 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.

                    Screenshot of Petty Cash Expense A/c Ledger

 

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 of Stock Group
 

                                Screenshot of Stock Categories
 

                                       Screenshot of Stock Unit

                                  Screenshot of Stock Godown

                                      Screenshot of 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. 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 IGST , give the proper narration as required , accept it and save it by pressing enter key.

                            Screenshot of Purchase Voucher

2. 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 IGST , give the proper narration as required , accept it and save it by pressing enter key.

                               Screenshot of Sales Voucher

 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 of Receipt Voucher

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 of Payment Voucher

5.Payment Vouchers for Indirect Expenses:-

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 expense heading(like electricity bill, telephone bill, house rent, staff salary ,petty cash expense a/c etc.) 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 of Payment Voucher for Indirect Expenses