Thursday, May 9, 2013

Tally :- Auto Bifurcation of Sales and Vat

Friends,   Vouchers posting in tally is easy and simple.  But tally developers work day by day to make more easy in the interest of users.   A program which keeps problem of users, becomes familiar in market.   Tally accounting software takes care about it.  

               A business man sales their items to customers including vat etc.   Now as per act  there is two categories of Invoices.  First if Tax Invoice and Second is Retail Invoice.   Tax Invoice is raised vat dealer to vat dealer and Retail Invoice is raised Vat Dealer to Retailer or Consumer.   It means Tax Invoice allow to buyer to take benefit of Vat charged in invoice and Retail Invoice do not allow to buyer to take benefit of Vat. 

                Now in tally entry of Tax Invoice can be easily done through voucher class and entry of Retail Invoice (vat not shown separate already including in rates)  is required some knowledge.  Example for the same is given as under. 

Retail Invoice Amount  =  1131.25
Detail of Rs. 1131.25 is Sales 12.50%                                 Rs. 1000.00
                                    Output Vat 12.50%                        Rs.    125.00
                                    Surcharge 5% on Output Vat        Rs.        6.25
User wants to enter only Rs. 1131.20 in tally and tally will pass automatically vouchers posting in all ledgers of Rs. 1000,Rs. 125 or Rs. 6.25 as shown above.

Picture No. 1

Picture No. 2

Picture No. 3

Picture No. 4

Setting of Auto Bifurcation of Sales and Vat 

  • Create Three ledger Sales 12.50 %, Output Vat 12.50% and Surcharge 5% on Output Vat normally under head Sales and Duties and Tax taking proper Vat Classes.
  • while creating item, Press F12 and select Yes for Specify Default Ledger Allocation of Invoicing as shown in picture no. 1.
  • Now, Set/Modify Default Ledgers for Invoicing in Item as shown in second picture as Default Accounting Allocations for Sales Invoice as shown in Picture No. 2.  
  • From Gateway of Tally, Account, Voucher Type, Alter Sales and type Retail Sales under Name of Class as shown in third picture and set values of Class as shown in Picture No. 3 & 4.
  • Now, pass voucher using Retail Sale voucher Class of Rs. 1131.25, all amounts will be automatically posted in respective ledgers as shown in Picture No. 5 
  • for checking of amounts in ledger, check Vat computation as shown in Picture No. 6

    Picture No. 5

Picture No. 6

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