Used in VAT Return
Set this to Yes if you wish to select VAT/Tax class for this Ledger.
Note: Tally.ERP gives the flexibility to the user to either have the classification selected in the Ledger Master tagged to all transactions Or select different classifications each time during voucher entries.
The rest of the Ledger creation process is the same as in default Tally.ERP.
In the above example we have selected a VAT class of 4%.
The rest of the settings are the same as in default Tally.ERP.
Create your respective Party Ledger ( i.e. Sundry Creditors and Sundry Debtors ) from..
Gateway of Tally.ERP Ø Master Ø Accounts Info Ø Single Ledger Ø Create
Under Sundry Creditor Group create the following Ledgers :
- Raj Infotech
- Microtech India
Under Sundry Debtor Group create the following Ledgers :
- H. Goenka
- Rajib Roy
Create your Product / Items for “ Antivirus CD” and “ Monitor” from…
Gateway of Tally.ERP Ø Master Ø Inventory Info Ø Stock Item Ø Create
Enter the Transactions for Purchase in the Invoice Mode, configure the Voucher Entry Screen by pressing F12 and set option “ Use Common Ledger a/c for item allocation” as “Yes”