Tally
Lesson 1: Basics of Accounting
1.1 Introduction
1.1.1 Types of Accounts
Real Accounts
Nominal accounts
1.1.2 Golden Rules of Accounting
1.1.3 Accounting Principles, Concepts and Conventions
Revenue Realisation
Matching Concept
Accrual
Going Concern
Accounting Period
Accounting Entity
Money Measurement
1.1.4 Double Entry System of Book Keeping
Features of Double Entry System of Book Keeping
1.1.5 Mode of Accounting
Voucher
Receipt
Invoice or Bill
Journals and Ledgers
Account
Ledger
Chart of Accounts
Posting
Accounting Period
Trial Balance
1.1.6 Financial Statements
Trading Account
Profit and Loss Account
Balance Sheet
1.1.7 Transactions
1.1.8 Recording Transactions
Lesson 2: Fundamentals of Tally.ERP 9
2.1 Introduction
2.1.1 Salient Features of Tally.ERP 9
2.1.2 Functional Features of Tally.ERP 9
2.1.3 Technology Advantages
2.1.4 Payroll
2.1.5 Data Migration Capability
2.1.6 Features pertaining to Duties and Taxes
2.2 Getting Functional with Tally.ERP 9
2.2.1 Tally.ERP 9 Start-up
2.2.2 Tally.ERP 9 Screen Components
2.2.3 Mouse/ Keyboard Conventions
2.2.4 Switching between Screen Areas
2.2.5 Quitting Tally.ERP 9
2.3 Creation/ Setting up of Company in Tally.ERP 9
2.3.1 Creation of a Company
2.3.2 Base Currency Information
2.3.3 Working with Multiple Companies
2.3.4 Exercise to Create another Company
Practice Exercise
To Shut a Company
To Alter Company Details
Lesson 3: Creating Accounting Masters in
Tally.ERP 9
3.1 F11:Features
F1: Accounting Features
.. General
.. Oustandings Management
.. Cost/ Profit Centres Management
.. Invoicing
.. Budgets/ Scenario Management
.. Other Features
F2: Inventory Features
F3 : Statutory & Taxation
F4: Tally.NET Features
3.2 F12 : Configurations
3.2.1 General
3.2.2 Numeric Symbols
3.2.3 Accts / Inventory Info.
Master Configuration
.. Group behaves like a Sub-Ledger ?
.. Nett Debit/Credit Balances for Reporting?
3.2.4 Voucher Entry
3.2.5 Invoice / Orders Entry
3.2.6 Printing
3.2.7 Data Configuration
3.2.8 TDL Configuration
3.2.9 Advanced Configuration
3.2.10 Licensing
3.3 Setting up Account Heads
3.3.1 Chart of Accounts
3.3.2 Pre-defined Groups of Accounts
3.3.3 Groups and Ledgers
Practice Exercise
3.3.4 Chart of Accounts of National Traders
Tally.ERP 9 Walk-through to Create Group Names for National Traders.
Tally.ERP 9 walkthrough to create National Traders ledgers with opening balances.
Lesson 4: Creating Inventory Masters in
Tally.ERP 9
Stock Group
4.1 Stock Groups
4.1.1 Creating Stock Group
i. Create the Stock Group � Television under Primary.
Practice Exercise
4.2 Stock Categories
4.2.1 Creating Stock Category
i. Create Stock Category 29 inches TV Under Primary
4.3 Godowns / Locations
4.3.1 Creating a Godown
4.4 Units of Measure
4.4.1 Creating Units of Measure
Type
Symbol
Formal Name
Number of Decimal Places
4.5 Stock Items
4.5.1 Creating a Stock Item
i. Create a Stock Item Sony 29 inches TV, under the Group Sony TV.
Practice Exercise
4.6 Creating Inventory Masters for National Traders
4.6.1 Create Stock Groups
i. Creating single stock groups
Create a Stock Group - Computers
ii. Creating Multiple Stock Groups
Create Accessories and Components under Peripherals.
4.6.2 Displaying and Altering Stock Groups
4.6.3 Creating Single Stock Categories
4.6.4 Creating Multiple Stock Categories
4.6.5 Displaying and Altering Stock Categories
4.6.6 Creating Units of Measure
4.6.7 Creating Compound Units of Measure
4.6.8 Displaying and Altering Units of Measure
4.6.9 Creating Godowns
4.6.10 Displaying and Altering Stock Godowns
4.6.11 Create Stock Items
Lesson 5:Voucher Entry in Tally.ERP 9
5.1 Accounting Vouchers
5.1.1 Contra Voucher (F4)
5.1.2 Payment Voucher (F5)
Payment in Single Entry Mode
Warn on Negative Cash Balance
Tally.ERP 9 displays a warning if the cash balance is NIL when Warn on Negative Cash Balance
is set to Yes in the F12: Payment Configuration. For example, a cash ledger account has no
balance. A payment of Rs. 4,500 towards Telephone expenses is to be made. In the process of
making the payment, Tally.ERP 9 displays a warning at the time of accepting the entry.
5.1.3 Receipt Voucher (F6)
5.1.4 Journal Voucher (F7)
5.1.5 Sales Voucher (F8)
5.1.6 Credit Note Voucher (Ctrl + F8)
5.1.7 Purchase Voucher (F9)
5.1.8 Debit Note Voucher (Ctrl + F9)
5.1.9 Reversing Journal Voucher (F10)
5.1.10 Memo Voucher (Ctrl + F10)
Memo vouchers are used for the following purposes :
5.1.11 Optional Voucher
5.1.12 Post-dated Vouchers
5.1.13 Creating a New Voucher Type
5.1.14 Displaying and Altering a Voucher Type
Practice Exercise
Create a Petty Cash Payment Voucher Type
5.1.15 Recording Accounting Transactions
5.1.16 Trial Balance for April 2009
Enter further transactions for National Traders.
5.1.17 Trial Balance for June 2009
5.2 Inventory Vouchers
5.2.1 Purchase Order
5.2.2 Sales Order
5.2.3 Rejections Out
5.2.4 Rejections In
5.2.5 Stock Journal
5.2.6 Delivery Note
5.2.7 Receipt Note
5.2.8 Physical Stock Voucher
5.2.9 Pure Inventory Transactions
5.2.10 Recording Inventory Transactions
Practice Exercise
Create the following transactions in the books of National Traders.
5.2.11 Stock Summary for April 2009
Enter further inventory transactions for National Traders.
5.2.12 Stock Summary for June 2009
5.2.13 Entering Inventory Details in Accounting Vouchers
Purchase voucher
Sales voucher
Debit Note
Credit Note
i. Sales voucher
5.3 Invoicing
Make the following entry of Sales in Voucher Mode.
Make the following entry of Sales in Invoice Mode:
5.3.1 Item Invoice and Account Invoice
5.3.2 Walk-through to create an Item Invoice
5.3.3 Walk-through to create an Account Invoice
Lesson 6: Advanced Accounting in Tally.ERP 9
6.1 Bill-wise Details
6.1.1 Activating Bill-wise Details
6.1.2 New Reference
Entering Bill-wise details for a Purchase Voucher (New Reference)
On 13-07-2009 received a goods invoice numbered PLC for 10 Nos HP - 27 Printer Cartridges
from Power Line Computers at Rs. 850. The goods were stored in On-site godown.
Create Purchase Voucher :
Entering Billwise details for Sales Invoice (New Reference)
On 14-07-2009, sold 5 pcs of HP - 27 Printer Cartridges to FirstCom Solutions @ Rs. 1,150
from On-Site godown.
Setup :
Create Sales Voucher :
Practice Exercise
6.1.3 Against Reference
Entering a Bill-wise payment - Against Reference
On 22-07-09, you pay Power Line Computers the full amount for their invoice numbered
PLC.
Practice Exercise
Entering a Receipt Voucher with Bill-wise details
FirstCom Solutions pays the full amount of their first invoice on 22-07-09.
Setup :
Create Receipt Voucher
A detailed Ledger Outstanding screen of FirstCom Solutions with a history of all bills appears as
shown below :
Display Age-Wise Outstanding Statements
Practice Exercise
6.1.4 Advance
On 01-07-2009, make a Bank Payment (State Bank of India Account) for Rs. 15,000 against
a purchase order PO/001/2009-10 raised on New Stocker.
Step 1 : Create Bank Payment Voucher
.. Select Advance as the Type of Ref
.. Enter PO/001/2009-10 as reference.
Step 2 : Create Purchase Voucher
Display Ledger Outstanding Statement
6.1.5 On Account
On 1-07-2009, raise a sales invoice on New Buyer for 1 Nos of New Stock Item @ Rs. 1,000
vide Bill/001.
Step 1 : Create Sales Invoice
Step 2 : Create Receipt Voucher
6.1.6 Bill-wise Outstandings Report
6.1.7 Payment Performance of Debtors
6.1.8 Bill-wise Details for Non-trading Accounts
6.2 Cost Centres and Cost Categories
6.2.1 Cost Centre
6.2.2 Cost Categories
6.2.3 Activating Cost Category and Cost Centre
.. Maintain Cost Centres
.. More than ONE Cost Category
6.2.4 Creating Cost Categories
6.2.5 Creating Cost Centre
6.2.6 Applying Cost Centres to Ledger Accounts
Create Payment Voucher :
Create Receipt Voucher :
Practice Exercise
Setup :
.. Set Cost Centres are applicable to Yes.
.. Set Inventory Values are affected to No.
.. Navketan Cement under Sundry Creditors
.. Monnet Steels under Sundry Creditors
.. WinLab Technologies under Sundry Debtors
.. Civic Centre Association under Sundry Debtors
.. Parvathi Stockers under Sundry Creditors
Advanced Practice Exercises
.. Cement with Unit of measurement - Bags
.. Steel with Unit of measurement - Tons.
.. For both items, set Yes to Treat all Purchases as Consumed (This option is useful in
case of consumable items)
.. Accept the rest as set by default.
6.2.7 Display Cost Centre Reports
Category Summary
Cost Centre Break-up
Ledger Break-up
Group Break-up
Practice Exercises
6.3 Voucher Class and Cost Centre Class
6.3.1 Voucher Class
Setup :
Step 1 : Create a voucher class for Sales Voucher Type
6.3.2 Invoice Entry using Voucher Class
6.3.3 Payment Voucher using Voucher Class
Step 2: Create Payment Entry using Voucher Class
On 2-5-09, make a payment entry for freight charges (create the ledger freight charges
under indirect expenses if not present) of Rs. 4,500.
6.3.4 Stock Journal using Voucher Class
Step 1 : Create Stock Journal Voucher Class
Step 2 : Create Stock Journal with Voucher Class
6.3.5 Cost Centre Class
Setup :
Step 1 : Create Cost Centre Class
Practice Exercises
6.4 Multiple Currencies
6.4.1 Creating Foreign Currencies
Setup :
Step 1 : Create Foreign Currency
6.4.2 Altering Currencies
6.4.3 Deleting Currencies
6.4.4 Creating Bank Ledger
6.4.5 Voucher Entry using Foreign Currency
Setup :
.. Prism Fabrication under Sundry Debtors group
.. Mirage Systems Pvt Ltd. under Sundry Creditors group
.. Stock Group - Foodstuffs
.. Stock Category - Cereals
.. Unit - Bags
6.4.6 Displaying Forex Gain/Loss
6.4.7 Adjusting Forex Gain/Loss
Prism Fabrication pays you $2500 which is deposited in the Bank Account. The Bank
charges were $50.
Setup :
Step 1 : Create Receipt Voucher
Step 2 : Adjust Forex Gain or Loss
Setup :
Step 2: Create Journal Voucher
Practice Exercise
Setup :
.. Standard rate - Rs. 80/�
.. Selling Rate - Rs. 81/�
.. Buying Rate - Rs. 82/�
For Purchase Voucher on 12-12-09 :
..Select the Godown as Warehouse
..In Accounting allocation, select Purchases, New Ref as Wheat
..Type Credit period as 15 days
For Payment Voucher on 21-12-09 :
..Enter Forex amount as �1000 = Rs. 83,000 in the amount field.
Practice Exercise
6.5 Bank Reconciliation
6.5.1 Reconciling Bank Accounts
Practice Exercises
6.6 Interest Calculations
Setup :
6.6.1 Calculating Interest in Simple Mode
Interest Calculation on Outstanding Balances
Setup :
.. Rate - This is the rate at which the interest has to be calculated. Specify a rate of 15%.
.. Interest Style - Select 365-day Year and accept the screen (This is the basis at which
the rate is applied).
Step 1 : Display Interest Calculation Reports
6.6.2 Booking Interest to Ledgers
Setup :
.. Tab down to Name of Class field.
.. Type Simple Interest and press Enter.
.. In the Class screen, set the other options as shown in the figure above. You will return
to the the Debit Note Voucher Type Alteration screen.
.. Type Compound Interest for the second class and press Enter
.. In the Class screen, set Yes to both Use Class for Interest Accounting and
Amounts to be treated as Compound Interest.
.. Accept the Voucher Type and return to the Gateway of Tally.
.. Interest Accrued under Group Indirect Income.
.. Interest Due under Group Indirect Expenses.
.. Interest Receivable under Group Current Assets.
.. Interest Payable under Group Current Liabilities.
Step 1 : Create Debit Note Voucher
Practice Exercise
6.6.3 Calculating Interest on Invoices
Setup :
Step 1 : Display Interest Calculation Report
Practice Exercise
The completed Credit Note Voucher for adjusting the interest amount appears as shown below :
6.6.4 Calculating Interest in Advanced Mode
.. Set Use Advanced Parameters to Yes
.. Accept the settings and return to the Gateway of Tally.
Step 1 : Alter Ledger account of Supreme Computers
Step 2 : Display Interest Calculation Report
.. Ensure that Maintain balances bill-by-bill is set to Yes
.. Enter the opening balance as Rs. 15,000 Dr
.. Enter the bill-wise reference name as OB New Consumer and accept the screen.
.. Set Activate Interest Calculations and (use advanced parameters) to Yes
.. Set Calculate interest Transaction-by-Transaction to No
.. Set Rate as 10% per 365-day year on All Balances and accept the master.
Step 1 : Display Interest Calculation Report
Practice Exercise
.. Set the interest parameters for New Ref. CCA of Rs. 3,75,000 as shown below:
.. Set the interest parameters for New Ref. CA1 of Rs. 1125000 as shown below:
Step 2 : Display Interest Calculation Report
Practice Exercise
6.7 Budgets & Controls
6.7.1 Creating a Group Budget
Practice Exercise
6.7.2 Display Budgets and Variances for Group Budget
6.7.3 Altering a Budget
6.7.4 Deleting a Budget
6.7.5 Creating a Ledger Budget
6.7.6 Display Budgets and Variances for Ledger Budget
Practice Exercise
.. From: 1-4-09
.. To: 31-12-09
.. Currency: Base Currency
.. Method of Stock Valuation: Default
.. Type of Value to show: Office Budget
.. Show Variances: No
.. Opening and Closing Balances to No
.. Transactions and Nett transactions to Yes
.. Set Show Percentage to No
6.8 Scenario Management
Advantage of using Scenarios
6.8.1 Creating a Scenario
1.Petty Cash � Rs. 10,695 Dr.
2.Bank Account � Rs.1,39,961.07 Dr
3.Deposit Account � Rs.46,000 Dr
6.8.2 Alterating a Scenario
6.8.3 Deleting a Scenario
Practice Exercise
Lesson 7: Advanced Inventory in Tally.ERP 9
7.1 Order Processing
7.1.1 Purchase Order Processing
Raise a Purchase Order on 15-12-2009 on Navketan Bricks (vide Order No. 1) for 5,000 pcs
of Bricks @ Rs.3 /brick. (Godown - Warehouse). The due date is 26-12-2009 and addtional
Freight charges @ 3% is applicable.
.. Accept Supplementary Details is set to No.
.. Complete Accounting Allocations in Order/Delivery Note is set to Yes.
.. Use Common Ledger for Item allocation is set to No.
7.1.2 Altering a Purchase Order
7.1.3 Sales Order Processing
Enter a Sales Order on 16-12-2009 on WinLab Technologies (vide Order No. WT/5) for 4,000
pcs (godown - Warehouse) of Bricks @ Rs. 5 /brick. The due date is 27-12-2009 and tax @
17.5% is applicable.
7.1.4 Altering a Sales Order
7.1.5 Display Order Position
7.1.6 Display Columnar Orders & Stock Details
7.1.7 Adjusting Orders
Practice Exercise
7.2 Reorder Levels
7.2.1 Defining Reorder Levels
7.2.2 Display Reorder Status
Practice Exercise
7.3 Tracking Numbers
7.3.1 Using Tracking Numbers
On 28-12-09 Ref GRN/NB - 1,000 Pcs of Bricks received from Navketan Bricks @ Rs. 4 /Pc
at the warehouse.
Setup:
7.3.2 Display Purchase Bill Pending
On 28-12-09, you receive the purchase Bill No. NB/15 from Navketan Bricks for their
Delivery Note No. GRN/NB for 1,000 Pcs of Bricks @ Rs.4 /Pc. A credit of 30 days is
allowed.
Practice Exercise
7.4 Batch-wise Details
7.4.1 Activating Batch-wise Details
7.4.2 Using Batch-wise Details in Purchase Invoice
On 15-12-09, purchased Saridon - 250 nos from GetWell Pharmacy @ 5.50 each with batch
number ST/101 having Manufacturing date as 15-8-2009 and Expiry Date as 14-8-2010.
.. Name: Saridon
.. Under: Medicines (create the group under primary)
.. Category: Pain Killers (create the category under primary).
.. Maintain in Batches: Yes.
.. Track date of Mfg: Yes
.. Use expiry dates: Yes
.. Alter Standard Rates: No
.. Rate of Duty: 5
.. Retain all the other fields as default and accept the stock item creation screen.
.. Return to the Gateway of Tally.
7.4.3 Using Batch-wise Details in Sales Invoice
On 27-12-09 , raise a Cash Sales Invoice for 200 nos of Saridon @ Rs. 7.50 from the above
Batch No.ST/101.
Step 2 : View Stock Sumary
Practice Exercise
7.5 Additional Cost Details
7.5.1 Activating Additional Cost Details
7.5.2 Creating Purchase Voucher with Additional Cost Details
.. Packing Charges on Purchases
.. Cartage Charges
Display Stock Summary Report
Display Stock Voucher Report
7.5.3 Creating Purchase Invoice with Additional Cost Details
Display Stock Voucher Report
7.5.4 Appropriate Addtional Costs
7.5.5 Additional Costs incurred after Purchases
Setup :
Step 1: Create Purchase Invoice
On 2-3-10, make a purchase entry for 20 nos of Batch Additional Cost Item (Batch/ 002) @
Rs. 200 from Stationery House.
Step 3 : Create Payment Voucher
On 3-3-10, make a Bank Payment entry for payment of Rs. 900 (Rs. 300 for Batch/001 and
Rs. 600 for Batch/002) towards Packing charges on Purchases.
Practice Exercise
Setup :
7.6 Bill of Materials (BoM)
7.6.1 Creating Bill of Materials
7.6.2 Creating a Manufacturing Journal
7.6.3 Using Bill of Materials
On 21-12-09, bought 10 pcs of each of the following items from Star Electronics @
standard cost as mentioned below :
Display Stock Summary
Practice Exercise
.. Hard Disk Drive - 1 Nos
.. Floppy Disk Drive - 1 Nos
.. CPU - 1 Nos
.. Monitor - 1 Nos
.. Keyboard - 1 Nos
.. Mouse - 1 Nos
7.7 Price Levels and Price Lists
7.7.1 Activating Price Lists and Defining Price Levels
.. Retail Sales
.. Export Sales
.. Wholesale
Step 1: Creating a Price List
7.7.2 Using Price Lists
On 2-1-10 raise a sales Invoice on Beltron Computers for the following Items :
On 5-1-10 raise a sales Invoice on Beltron Computers for the following Items :
7.8 Stock Valuation
7.8.1 Stock Valuation Methods
7.8.2 Display Stock Summary
Setup :
.. Set Allow Advanced Entries in Masters in Inventory Masters to Yes.
.. Select HP - 27 Printer Cartridges, you will find that the details of Costing Method and
Market Valuation Method under Behaviour
.. Select Average Cost and Average price respectively
.. Accept the master information.
7.9 Zero Valued Entries
7.9.1 Creating Zero Valued Entries
On 28-02-10, make a Sales invoice on Prism fabrication for 1 Nos of Television Flatoron
without value.
Create Sales Invoice
7.10 Inventory Ageing Analysis
7.10.1 View Inventory Ageing Report
Practice Exercise
7.11 Different Actual and Billed Quantities
Setup:
7.11.1 Using different Actual and Billed Quantities
On 3-3-2010, make a purchase invoice from Parvathi Stockers for the following items :
Setup :
.. Group it under stock group Foodstuffs.
.. Stock category - Not Applicable
.. Unit of Measure - kgs (kilos) with decimal places - 3 (create if not present).
.. Accept the master creation without any opening balance and return to the Gateway of
Tally.
Step 1 : Create Purchase Invoice
Step 3 : Display Stock Summary
.. Specify the range as Voucher - Having - Ledgers - With - Name - Containing - Parvathi
stockers (party name in purchase entry of 5-3-2010)
.. Press Enter.
Lesson 8: Value Added Tax (VAT)
8.1 Configuring VAT in Tally.ERP 9
8.1.1 Company Setup
8.1.2 Enabling Value Added Tax (VAT)
8.1.3 VAT Classifications
8.2 Creating Masters
8.2.1 Creating Purchase Ledger
Practice Exercise
8.2.2 Creating Sales Ledger
8.2.3 Creating Input VAT Ledger
Practice Exercise
8.2.4 Creating Party Ledger
8.2.5 Creating Stock Items
Practice Exercise
8.3 Entering Transactions
8.3.1 Creating Purchase Voucher without Inventory
On 1-6-09, Universal Traders purchased from Sujan Ltd., Bangalore, Surya Lamps 20 nos
at Rs. 300 each & Philips lamps 30 nos at Rs. 500 each. (Input VAT - 840.)
Enter the details of the transaction in voucher mode (without Inventory)
8.3.2 Creating Purchase Invoice with default VAT Class
On 3-6-09, Universal Traders purchased from Sujan Ltd. Bangalore, Surya Lamps 30 Nos.
at Rs. 300 each. VAT @ 4% was charged additionally.
.. Accept Supplementary Details � No.
.. Use Common Ledger A/c for Item Allocation � No.
.. Allow selection of VAT/Tax Class during entry � No.
Enter the details of the transaction in the purchase invoice
8.3.3 Creating Purchase Invoice with Selection of VAT Class during Entry
On 3-6-09, Universal Traders purchased from Sujan Ltd. Bangalore, Philips lamps 10 Nos.
at Rs. 300 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in the purchase invoice
8.3.4 Creating Purchase Invoice with Multiple VAT Rates
On 5-6-09, Universal Traders purchased the following lamps from Sujan Ltd.
Enter the details of the transaction in the purchase invoice
8.3.5 Creating Sales Voucher without Inventory
On 8-6-09, Universal Traders sold to Chahak Traders, Bangalore, Surya lamps 10 Nos. at
Rs.350 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in a sales voucher (voucher mode)
8.3.6 Creating Sales Invoice with default VAT Class
On 15-6-09, Universal Traders sold to Somi Telicomm, Bangalore, Surya lamps 8 Nos. at
Rs. 350 each and Philips lamps 5 Nos. at Rs. 550 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in a sales invoice.
8.3.7 Printing Sales Invoice
.. Print VAT Analysis of Items? Set this field to Yes to display the VAT Amount on the
Total Net Value.
.. Print VAT% Column? Set this field to Yes to display VAT rate in invoices.
8.3.8 Creating Sales Invoice with Selection of VAT Class during Entry
On 16-6-09, Universal Traders sold to Chahak Traders, Bangalore, Philips lamps 3 Nos. at
Rs. 550 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in a sales invoice.
8.3.9 Creating Sales Invoice with Multiple VAT Rates
Universal Traders sells the following lamps to Somi Telicomm on 19-6-09.
Enter the details of the transaction in a sales invoice.
8.3.10 Creating Sales Invoice using Voucher Class
On 20-6-09, Universal Traders sold 1 Surya lamp at Rs. 350 to Chahak Traders. The goods
are taxable @ 4% VAT.
Step 1: Create Voucher Class � Sales @ 4% for sales voucher.
Step 2 : Enter the details of the transaction in a Sales Invoice
8.4 VAT Reports
8.4.1 VAT Computation Report
8.4.2 VAT Returns
8.5 Accounting for Return of Goods
8.5.1 Sales Returns
On 20-6-09, Somi Telicomm returned 1 No. Surya Lamp to Universal Traders.
8.5.2 Purchase Returns
Universal Traders returns 1 No. Surya Lamps to Sujan Ltd. from the earlier purchases
made from them.
8.5.3 Display VAT Computation Report
8.6 Rate Difference in Purchase / Sales
8.6.1 Rate Differences in Purchases
On 21-6-09, Sujan Ltd. allowed a rate difference on lamps purchased by Universal Traders
for the stock available at Rs. 50. VAT @ 4% was charged additionally.
8.6.2 Rate Differences in Sales
Universal Traders allowed a discount to Somi Telicomm on 22-6-09 for 8 nos. of Surya
Lamps at Rs.50. VAT @ 4% was charged additionally.
8.6.3 Display VAT Computation Report
8.7 Accounting for Interstate Transactions
8.7.1 Inter-state Purchases
Create the following purchase voucher for the Inter-state Purchase transaction
i. Inter-state Purchase ledger
ii. Purchase Ledger
iii. Party Ledger
Enter the details of the transaction in the Purchase Invoice
8.7.2 Inter-state Sales
Create the following Sales voucher for the Inter-state Sales transaction
Setup :
i. Sales Ledger
ii. Tax Ledger
iii. Party Ledger:
Enter the details of the transaction in the Sales Invoice
8.7.3 Display VAT Computation Report
8.8 Exempt Transactions under VAT
8.8.1 Exempted Purchases
Consider the following transaction of Universal Traders:
i. Purchase Ledger
ii. Party Ledger
iii. Create the following Stock Items under Primary group with units of measure as Nos.:
Enter the details of the transaction in a Purchase Invoice
8.8.2 Exempted Sales
Consider the following sales transaction of Universal Traders.
i. Sales Ledger
ii. Party Ledger
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1.1 Introduction
1.1.1 Types of Accounts
Real Accounts
Nominal accounts
1.1.2 Golden Rules of Accounting
1.1.3 Accounting Principles, Concepts and Conventions
Revenue Realisation
Matching Concept
Accrual
Going Concern
Accounting Period
Accounting Entity
Money Measurement
1.1.4 Double Entry System of Book Keeping
Features of Double Entry System of Book Keeping
1.1.5 Mode of Accounting
Voucher
Receipt
Invoice or Bill
Journals and Ledgers
Account
Ledger
Chart of Accounts
Posting
Accounting Period
Trial Balance
1.1.6 Financial Statements
Trading Account
Profit and Loss Account
Balance Sheet
1.1.7 Transactions
1.1.8 Recording Transactions
Lesson 2: Fundamentals of Tally.ERP 9
2.1 Introduction
2.1.1 Salient Features of Tally.ERP 9
2.1.2 Functional Features of Tally.ERP 9
2.1.3 Technology Advantages
2.1.4 Payroll
2.1.5 Data Migration Capability
2.1.6 Features pertaining to Duties and Taxes
2.2 Getting Functional with Tally.ERP 9
2.2.1 Tally.ERP 9 Start-up
2.2.2 Tally.ERP 9 Screen Components
2.2.3 Mouse/ Keyboard Conventions
2.2.4 Switching between Screen Areas
2.2.5 Quitting Tally.ERP 9
2.3 Creation/ Setting up of Company in Tally.ERP 9
2.3.1 Creation of a Company
2.3.2 Base Currency Information
2.3.3 Working with Multiple Companies
2.3.4 Exercise to Create another Company
Practice Exercise
To Shut a Company
To Alter Company Details
Lesson 3: Creating Accounting Masters in
Tally.ERP 9
3.1 F11:Features
F1: Accounting Features
.. General
.. Oustandings Management
.. Cost/ Profit Centres Management
.. Invoicing
.. Budgets/ Scenario Management
.. Other Features
F2: Inventory Features
F3 : Statutory & Taxation
F4: Tally.NET Features
3.2 F12 : Configurations
3.2.1 General
3.2.2 Numeric Symbols
3.2.3 Accts / Inventory Info.
Master Configuration
.. Group behaves like a Sub-Ledger ?
.. Nett Debit/Credit Balances for Reporting?
3.2.4 Voucher Entry
3.2.5 Invoice / Orders Entry
3.2.6 Printing
3.2.7 Data Configuration
3.2.8 TDL Configuration
3.2.9 Advanced Configuration
3.2.10 Licensing
3.3 Setting up Account Heads
3.3.1 Chart of Accounts
3.3.2 Pre-defined Groups of Accounts
3.3.3 Groups and Ledgers
Practice Exercise
3.3.4 Chart of Accounts of National Traders
Tally.ERP 9 Walk-through to Create Group Names for National Traders.
Tally.ERP 9 walkthrough to create National Traders ledgers with opening balances.
Lesson 4: Creating Inventory Masters in
Tally.ERP 9
Stock Group
4.1 Stock Groups
4.1.1 Creating Stock Group
i. Create the Stock Group � Television under Primary.
Practice Exercise
4.2 Stock Categories
4.2.1 Creating Stock Category
i. Create Stock Category 29 inches TV Under Primary
4.3 Godowns / Locations
4.3.1 Creating a Godown
4.4 Units of Measure
4.4.1 Creating Units of Measure
Type
Symbol
Formal Name
Number of Decimal Places
4.5 Stock Items
4.5.1 Creating a Stock Item
i. Create a Stock Item Sony 29 inches TV, under the Group Sony TV.
Practice Exercise
4.6 Creating Inventory Masters for National Traders
4.6.1 Create Stock Groups
i. Creating single stock groups
Create a Stock Group - Computers
ii. Creating Multiple Stock Groups
Create Accessories and Components under Peripherals.
4.6.2 Displaying and Altering Stock Groups
4.6.3 Creating Single Stock Categories
4.6.4 Creating Multiple Stock Categories
4.6.5 Displaying and Altering Stock Categories
4.6.6 Creating Units of Measure
4.6.7 Creating Compound Units of Measure
4.6.8 Displaying and Altering Units of Measure
4.6.9 Creating Godowns
4.6.10 Displaying and Altering Stock Godowns
4.6.11 Create Stock Items
Lesson 5:Voucher Entry in Tally.ERP 9
5.1 Accounting Vouchers
5.1.1 Contra Voucher (F4)
5.1.2 Payment Voucher (F5)
Payment in Single Entry Mode
Warn on Negative Cash Balance
Tally.ERP 9 displays a warning if the cash balance is NIL when Warn on Negative Cash Balance
is set to Yes in the F12: Payment Configuration. For example, a cash ledger account has no
balance. A payment of Rs. 4,500 towards Telephone expenses is to be made. In the process of
making the payment, Tally.ERP 9 displays a warning at the time of accepting the entry.
5.1.3 Receipt Voucher (F6)
5.1.4 Journal Voucher (F7)
5.1.5 Sales Voucher (F8)
5.1.6 Credit Note Voucher (Ctrl + F8)
5.1.7 Purchase Voucher (F9)
5.1.8 Debit Note Voucher (Ctrl + F9)
5.1.9 Reversing Journal Voucher (F10)
5.1.10 Memo Voucher (Ctrl + F10)
Memo vouchers are used for the following purposes :
5.1.11 Optional Voucher
5.1.12 Post-dated Vouchers
5.1.13 Creating a New Voucher Type
5.1.14 Displaying and Altering a Voucher Type
Practice Exercise
Create a Petty Cash Payment Voucher Type
5.1.15 Recording Accounting Transactions
5.1.16 Trial Balance for April 2009
Enter further transactions for National Traders.
5.1.17 Trial Balance for June 2009
5.2 Inventory Vouchers
5.2.1 Purchase Order
5.2.2 Sales Order
5.2.3 Rejections Out
5.2.4 Rejections In
5.2.5 Stock Journal
5.2.6 Delivery Note
5.2.7 Receipt Note
5.2.8 Physical Stock Voucher
5.2.9 Pure Inventory Transactions
5.2.10 Recording Inventory Transactions
Practice Exercise
Create the following transactions in the books of National Traders.
5.2.11 Stock Summary for April 2009
Enter further inventory transactions for National Traders.
5.2.12 Stock Summary for June 2009
5.2.13 Entering Inventory Details in Accounting Vouchers
Purchase voucher
Sales voucher
Debit Note
Credit Note
i. Sales voucher
5.3 Invoicing
Make the following entry of Sales in Voucher Mode.
Make the following entry of Sales in Invoice Mode:
5.3.1 Item Invoice and Account Invoice
5.3.2 Walk-through to create an Item Invoice
5.3.3 Walk-through to create an Account Invoice
Lesson 6: Advanced Accounting in Tally.ERP 9
6.1 Bill-wise Details
6.1.1 Activating Bill-wise Details
6.1.2 New Reference
Entering Bill-wise details for a Purchase Voucher (New Reference)
On 13-07-2009 received a goods invoice numbered PLC for 10 Nos HP - 27 Printer Cartridges
from Power Line Computers at Rs. 850. The goods were stored in On-site godown.
Create Purchase Voucher :
Entering Billwise details for Sales Invoice (New Reference)
On 14-07-2009, sold 5 pcs of HP - 27 Printer Cartridges to FirstCom Solutions @ Rs. 1,150
from On-Site godown.
Setup :
Create Sales Voucher :
Practice Exercise
6.1.3 Against Reference
Entering a Bill-wise payment - Against Reference
On 22-07-09, you pay Power Line Computers the full amount for their invoice numbered
PLC.
Practice Exercise
Entering a Receipt Voucher with Bill-wise details
FirstCom Solutions pays the full amount of their first invoice on 22-07-09.
Setup :
Create Receipt Voucher
A detailed Ledger Outstanding screen of FirstCom Solutions with a history of all bills appears as
shown below :
Display Age-Wise Outstanding Statements
Practice Exercise
6.1.4 Advance
On 01-07-2009, make a Bank Payment (State Bank of India Account) for Rs. 15,000 against
a purchase order PO/001/2009-10 raised on New Stocker.
Step 1 : Create Bank Payment Voucher
.. Select Advance as the Type of Ref
.. Enter PO/001/2009-10 as reference.
Step 2 : Create Purchase Voucher
Display Ledger Outstanding Statement
6.1.5 On Account
On 1-07-2009, raise a sales invoice on New Buyer for 1 Nos of New Stock Item @ Rs. 1,000
vide Bill/001.
Step 1 : Create Sales Invoice
Step 2 : Create Receipt Voucher
6.1.6 Bill-wise Outstandings Report
6.1.7 Payment Performance of Debtors
6.1.8 Bill-wise Details for Non-trading Accounts
6.2 Cost Centres and Cost Categories
6.2.1 Cost Centre
6.2.2 Cost Categories
6.2.3 Activating Cost Category and Cost Centre
.. Maintain Cost Centres
.. More than ONE Cost Category
6.2.4 Creating Cost Categories
6.2.5 Creating Cost Centre
6.2.6 Applying Cost Centres to Ledger Accounts
Create Payment Voucher :
Create Receipt Voucher :
Practice Exercise
Setup :
.. Set Cost Centres are applicable to Yes.
.. Set Inventory Values are affected to No.
.. Navketan Cement under Sundry Creditors
.. Monnet Steels under Sundry Creditors
.. WinLab Technologies under Sundry Debtors
.. Civic Centre Association under Sundry Debtors
.. Parvathi Stockers under Sundry Creditors
Advanced Practice Exercises
.. Cement with Unit of measurement - Bags
.. Steel with Unit of measurement - Tons.
.. For both items, set Yes to Treat all Purchases as Consumed (This option is useful in
case of consumable items)
.. Accept the rest as set by default.
6.2.7 Display Cost Centre Reports
Category Summary
Cost Centre Break-up
Ledger Break-up
Group Break-up
Practice Exercises
6.3 Voucher Class and Cost Centre Class
6.3.1 Voucher Class
Setup :
Step 1 : Create a voucher class for Sales Voucher Type
6.3.2 Invoice Entry using Voucher Class
6.3.3 Payment Voucher using Voucher Class
Step 2: Create Payment Entry using Voucher Class
On 2-5-09, make a payment entry for freight charges (create the ledger freight charges
under indirect expenses if not present) of Rs. 4,500.
6.3.4 Stock Journal using Voucher Class
Step 1 : Create Stock Journal Voucher Class
Step 2 : Create Stock Journal with Voucher Class
6.3.5 Cost Centre Class
Setup :
Step 1 : Create Cost Centre Class
Practice Exercises
6.4 Multiple Currencies
6.4.1 Creating Foreign Currencies
Setup :
Step 1 : Create Foreign Currency
6.4.2 Altering Currencies
6.4.3 Deleting Currencies
6.4.4 Creating Bank Ledger
6.4.5 Voucher Entry using Foreign Currency
Setup :
.. Prism Fabrication under Sundry Debtors group
.. Mirage Systems Pvt Ltd. under Sundry Creditors group
.. Stock Group - Foodstuffs
.. Stock Category - Cereals
.. Unit - Bags
6.4.6 Displaying Forex Gain/Loss
6.4.7 Adjusting Forex Gain/Loss
Prism Fabrication pays you $2500 which is deposited in the Bank Account. The Bank
charges were $50.
Setup :
Step 1 : Create Receipt Voucher
Step 2 : Adjust Forex Gain or Loss
Setup :
Step 2: Create Journal Voucher
Practice Exercise
Setup :
.. Standard rate - Rs. 80/�
.. Selling Rate - Rs. 81/�
.. Buying Rate - Rs. 82/�
For Purchase Voucher on 12-12-09 :
..Select the Godown as Warehouse
..In Accounting allocation, select Purchases, New Ref as Wheat
..Type Credit period as 15 days
For Payment Voucher on 21-12-09 :
..Enter Forex amount as �1000 = Rs. 83,000 in the amount field.
Practice Exercise
6.5 Bank Reconciliation
6.5.1 Reconciling Bank Accounts
Practice Exercises
6.6 Interest Calculations
Setup :
6.6.1 Calculating Interest in Simple Mode
Interest Calculation on Outstanding Balances
Setup :
.. Rate - This is the rate at which the interest has to be calculated. Specify a rate of 15%.
.. Interest Style - Select 365-day Year and accept the screen (This is the basis at which
the rate is applied).
Step 1 : Display Interest Calculation Reports
6.6.2 Booking Interest to Ledgers
Setup :
.. Tab down to Name of Class field.
.. Type Simple Interest and press Enter.
.. In the Class screen, set the other options as shown in the figure above. You will return
to the the Debit Note Voucher Type Alteration screen.
.. Type Compound Interest for the second class and press Enter
.. In the Class screen, set Yes to both Use Class for Interest Accounting and
Amounts to be treated as Compound Interest.
.. Accept the Voucher Type and return to the Gateway of Tally.
.. Interest Accrued under Group Indirect Income.
.. Interest Due under Group Indirect Expenses.
.. Interest Receivable under Group Current Assets.
.. Interest Payable under Group Current Liabilities.
Step 1 : Create Debit Note Voucher
Practice Exercise
6.6.3 Calculating Interest on Invoices
Setup :
Step 1 : Display Interest Calculation Report
Practice Exercise
The completed Credit Note Voucher for adjusting the interest amount appears as shown below :
6.6.4 Calculating Interest in Advanced Mode
.. Set Use Advanced Parameters to Yes
.. Accept the settings and return to the Gateway of Tally.
Step 1 : Alter Ledger account of Supreme Computers
Step 2 : Display Interest Calculation Report
.. Ensure that Maintain balances bill-by-bill is set to Yes
.. Enter the opening balance as Rs. 15,000 Dr
.. Enter the bill-wise reference name as OB New Consumer and accept the screen.
.. Set Activate Interest Calculations and (use advanced parameters) to Yes
.. Set Calculate interest Transaction-by-Transaction to No
.. Set Rate as 10% per 365-day year on All Balances and accept the master.
Step 1 : Display Interest Calculation Report
Practice Exercise
.. Set the interest parameters for New Ref. CCA of Rs. 3,75,000 as shown below:
.. Set the interest parameters for New Ref. CA1 of Rs. 1125000 as shown below:
Step 2 : Display Interest Calculation Report
Practice Exercise
6.7 Budgets & Controls
6.7.1 Creating a Group Budget
Practice Exercise
6.7.2 Display Budgets and Variances for Group Budget
6.7.3 Altering a Budget
6.7.4 Deleting a Budget
6.7.5 Creating a Ledger Budget
6.7.6 Display Budgets and Variances for Ledger Budget
Practice Exercise
.. From: 1-4-09
.. To: 31-12-09
.. Currency: Base Currency
.. Method of Stock Valuation: Default
.. Type of Value to show: Office Budget
.. Show Variances: No
.. Opening and Closing Balances to No
.. Transactions and Nett transactions to Yes
.. Set Show Percentage to No
6.8 Scenario Management
Advantage of using Scenarios
6.8.1 Creating a Scenario
1.Petty Cash � Rs. 10,695 Dr.
2.Bank Account � Rs.1,39,961.07 Dr
3.Deposit Account � Rs.46,000 Dr
6.8.2 Alterating a Scenario
6.8.3 Deleting a Scenario
Practice Exercise
Lesson 7: Advanced Inventory in Tally.ERP 9
7.1 Order Processing
7.1.1 Purchase Order Processing
Raise a Purchase Order on 15-12-2009 on Navketan Bricks (vide Order No. 1) for 5,000 pcs
of Bricks @ Rs.3 /brick. (Godown - Warehouse). The due date is 26-12-2009 and addtional
Freight charges @ 3% is applicable.
.. Accept Supplementary Details is set to No.
.. Complete Accounting Allocations in Order/Delivery Note is set to Yes.
.. Use Common Ledger for Item allocation is set to No.
7.1.2 Altering a Purchase Order
7.1.3 Sales Order Processing
Enter a Sales Order on 16-12-2009 on WinLab Technologies (vide Order No. WT/5) for 4,000
pcs (godown - Warehouse) of Bricks @ Rs. 5 /brick. The due date is 27-12-2009 and tax @
17.5% is applicable.
7.1.4 Altering a Sales Order
7.1.5 Display Order Position
7.1.6 Display Columnar Orders & Stock Details
7.1.7 Adjusting Orders
Practice Exercise
7.2 Reorder Levels
7.2.1 Defining Reorder Levels
7.2.2 Display Reorder Status
Practice Exercise
7.3 Tracking Numbers
7.3.1 Using Tracking Numbers
On 28-12-09 Ref GRN/NB - 1,000 Pcs of Bricks received from Navketan Bricks @ Rs. 4 /Pc
at the warehouse.
Setup:
7.3.2 Display Purchase Bill Pending
On 28-12-09, you receive the purchase Bill No. NB/15 from Navketan Bricks for their
Delivery Note No. GRN/NB for 1,000 Pcs of Bricks @ Rs.4 /Pc. A credit of 30 days is
allowed.
Practice Exercise
7.4 Batch-wise Details
7.4.1 Activating Batch-wise Details
7.4.2 Using Batch-wise Details in Purchase Invoice
On 15-12-09, purchased Saridon - 250 nos from GetWell Pharmacy @ 5.50 each with batch
number ST/101 having Manufacturing date as 15-8-2009 and Expiry Date as 14-8-2010.
.. Name: Saridon
.. Under: Medicines (create the group under primary)
.. Category: Pain Killers (create the category under primary).
.. Maintain in Batches: Yes.
.. Track date of Mfg: Yes
.. Use expiry dates: Yes
.. Alter Standard Rates: No
.. Rate of Duty: 5
.. Retain all the other fields as default and accept the stock item creation screen.
.. Return to the Gateway of Tally.
7.4.3 Using Batch-wise Details in Sales Invoice
On 27-12-09 , raise a Cash Sales Invoice for 200 nos of Saridon @ Rs. 7.50 from the above
Batch No.ST/101.
Step 2 : View Stock Sumary
Practice Exercise
7.5 Additional Cost Details
7.5.1 Activating Additional Cost Details
7.5.2 Creating Purchase Voucher with Additional Cost Details
.. Packing Charges on Purchases
.. Cartage Charges
Display Stock Summary Report
Display Stock Voucher Report
7.5.3 Creating Purchase Invoice with Additional Cost Details
Display Stock Voucher Report
7.5.4 Appropriate Addtional Costs
7.5.5 Additional Costs incurred after Purchases
Setup :
Step 1: Create Purchase Invoice
On 2-3-10, make a purchase entry for 20 nos of Batch Additional Cost Item (Batch/ 002) @
Rs. 200 from Stationery House.
Step 3 : Create Payment Voucher
On 3-3-10, make a Bank Payment entry for payment of Rs. 900 (Rs. 300 for Batch/001 and
Rs. 600 for Batch/002) towards Packing charges on Purchases.
Practice Exercise
Setup :
7.6 Bill of Materials (BoM)
7.6.1 Creating Bill of Materials
7.6.2 Creating a Manufacturing Journal
7.6.3 Using Bill of Materials
On 21-12-09, bought 10 pcs of each of the following items from Star Electronics @
standard cost as mentioned below :
Display Stock Summary
Practice Exercise
.. Hard Disk Drive - 1 Nos
.. Floppy Disk Drive - 1 Nos
.. CPU - 1 Nos
.. Monitor - 1 Nos
.. Keyboard - 1 Nos
.. Mouse - 1 Nos
7.7 Price Levels and Price Lists
7.7.1 Activating Price Lists and Defining Price Levels
.. Retail Sales
.. Export Sales
.. Wholesale
Step 1: Creating a Price List
7.7.2 Using Price Lists
On 2-1-10 raise a sales Invoice on Beltron Computers for the following Items :
On 5-1-10 raise a sales Invoice on Beltron Computers for the following Items :
7.8 Stock Valuation
7.8.1 Stock Valuation Methods
7.8.2 Display Stock Summary
Setup :
.. Set Allow Advanced Entries in Masters in Inventory Masters to Yes.
.. Select HP - 27 Printer Cartridges, you will find that the details of Costing Method and
Market Valuation Method under Behaviour
.. Select Average Cost and Average price respectively
.. Accept the master information.
7.9 Zero Valued Entries
7.9.1 Creating Zero Valued Entries
On 28-02-10, make a Sales invoice on Prism fabrication for 1 Nos of Television Flatoron
without value.
Create Sales Invoice
7.10 Inventory Ageing Analysis
7.10.1 View Inventory Ageing Report
Practice Exercise
7.11 Different Actual and Billed Quantities
Setup:
7.11.1 Using different Actual and Billed Quantities
On 3-3-2010, make a purchase invoice from Parvathi Stockers for the following items :
Setup :
.. Group it under stock group Foodstuffs.
.. Stock category - Not Applicable
.. Unit of Measure - kgs (kilos) with decimal places - 3 (create if not present).
.. Accept the master creation without any opening balance and return to the Gateway of
Tally.
Step 1 : Create Purchase Invoice
Step 3 : Display Stock Summary
.. Specify the range as Voucher - Having - Ledgers - With - Name - Containing - Parvathi
stockers (party name in purchase entry of 5-3-2010)
.. Press Enter.
Lesson 8: Value Added Tax (VAT)
8.1 Configuring VAT in Tally.ERP 9
8.1.1 Company Setup
8.1.2 Enabling Value Added Tax (VAT)
8.1.3 VAT Classifications
8.2 Creating Masters
8.2.1 Creating Purchase Ledger
Practice Exercise
8.2.2 Creating Sales Ledger
8.2.3 Creating Input VAT Ledger
Practice Exercise
8.2.4 Creating Party Ledger
8.2.5 Creating Stock Items
Practice Exercise
8.3 Entering Transactions
8.3.1 Creating Purchase Voucher without Inventory
On 1-6-09, Universal Traders purchased from Sujan Ltd., Bangalore, Surya Lamps 20 nos
at Rs. 300 each & Philips lamps 30 nos at Rs. 500 each. (Input VAT - 840.)
Enter the details of the transaction in voucher mode (without Inventory)
8.3.2 Creating Purchase Invoice with default VAT Class
On 3-6-09, Universal Traders purchased from Sujan Ltd. Bangalore, Surya Lamps 30 Nos.
at Rs. 300 each. VAT @ 4% was charged additionally.
.. Accept Supplementary Details � No.
.. Use Common Ledger A/c for Item Allocation � No.
.. Allow selection of VAT/Tax Class during entry � No.
Enter the details of the transaction in the purchase invoice
8.3.3 Creating Purchase Invoice with Selection of VAT Class during Entry
On 3-6-09, Universal Traders purchased from Sujan Ltd. Bangalore, Philips lamps 10 Nos.
at Rs. 300 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in the purchase invoice
8.3.4 Creating Purchase Invoice with Multiple VAT Rates
On 5-6-09, Universal Traders purchased the following lamps from Sujan Ltd.
Enter the details of the transaction in the purchase invoice
8.3.5 Creating Sales Voucher without Inventory
On 8-6-09, Universal Traders sold to Chahak Traders, Bangalore, Surya lamps 10 Nos. at
Rs.350 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in a sales voucher (voucher mode)
8.3.6 Creating Sales Invoice with default VAT Class
On 15-6-09, Universal Traders sold to Somi Telicomm, Bangalore, Surya lamps 8 Nos. at
Rs. 350 each and Philips lamps 5 Nos. at Rs. 550 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in a sales invoice.
8.3.7 Printing Sales Invoice
.. Print VAT Analysis of Items? Set this field to Yes to display the VAT Amount on the
Total Net Value.
.. Print VAT% Column? Set this field to Yes to display VAT rate in invoices.
8.3.8 Creating Sales Invoice with Selection of VAT Class during Entry
On 16-6-09, Universal Traders sold to Chahak Traders, Bangalore, Philips lamps 3 Nos. at
Rs. 550 each. VAT @ 4% was charged additionally.
Enter the details of the transaction in a sales invoice.
8.3.9 Creating Sales Invoice with Multiple VAT Rates
Universal Traders sells the following lamps to Somi Telicomm on 19-6-09.
Enter the details of the transaction in a sales invoice.
8.3.10 Creating Sales Invoice using Voucher Class
On 20-6-09, Universal Traders sold 1 Surya lamp at Rs. 350 to Chahak Traders. The goods
are taxable @ 4% VAT.
Step 1: Create Voucher Class � Sales @ 4% for sales voucher.
Step 2 : Enter the details of the transaction in a Sales Invoice
8.4 VAT Reports
8.4.1 VAT Computation Report
8.4.2 VAT Returns
8.5 Accounting for Return of Goods
8.5.1 Sales Returns
On 20-6-09, Somi Telicomm returned 1 No. Surya Lamp to Universal Traders.
8.5.2 Purchase Returns
Universal Traders returns 1 No. Surya Lamps to Sujan Ltd. from the earlier purchases
made from them.
8.5.3 Display VAT Computation Report
8.6 Rate Difference in Purchase / Sales
8.6.1 Rate Differences in Purchases
On 21-6-09, Sujan Ltd. allowed a rate difference on lamps purchased by Universal Traders
for the stock available at Rs. 50. VAT @ 4% was charged additionally.
8.6.2 Rate Differences in Sales
Universal Traders allowed a discount to Somi Telicomm on 22-6-09 for 8 nos. of Surya
Lamps at Rs.50. VAT @ 4% was charged additionally.
8.6.3 Display VAT Computation Report
8.7 Accounting for Interstate Transactions
8.7.1 Inter-state Purchases
Create the following purchase voucher for the Inter-state Purchase transaction
i. Inter-state Purchase ledger
ii. Purchase Ledger
iii. Party Ledger
Enter the details of the transaction in the Purchase Invoice
8.7.2 Inter-state Sales
Create the following Sales voucher for the Inter-state Sales transaction
Setup :
i. Sales Ledger
ii. Tax Ledger
iii. Party Ledger:
Enter the details of the transaction in the Sales Invoice
8.7.3 Display VAT Computation Report
8.8 Exempt Transactions under VAT
8.8.1 Exempted Purchases
Consider the following transaction of Universal Traders:
i. Purchase Ledger
ii. Party Ledger
iii. Create the following Stock Items under Primary group with units of measure as Nos.:
Enter the details of the transaction in a Purchase Invoice
8.8.2 Exempted Sales
Consider the following sales transaction of Universal Traders.
i. Sales Ledger
ii. Party Ledger
<