Double vat system in Tally

For calculating VAT, first of all changes in statutory and taxation. It is the main company features.on the other hand, For impose a VAT. click on features which are shown on the right hand on the screen. Then click on statutory and taxation. For VAT, only one option is changed. This is (enable Value added Tax). And also tax information is necessary like VAT TIN, local sales tax no., inter sales tax no., PAN income tax no. Then again go on create ledger and impose vat on five items.

How to prepared the credit note and debit note in Tally

Debit note: When goods are returned by the customer to the supplier due to wrong quantity or quality of product, rate difference, discount, commission, etc is known as debit note. it is also known as purchased return.

Credit note: It is a official or commercial document which is provided by supplier to the customer.

purchase and sale order processing in Tally

when any person can start the business then gives order to the supplier for delivered the goods in large quantity and then sale to his customer according to his order. When the order is placed with the suppliers for the supply of goods, the Items, quantities, date of receipt etc., details are given with the Purchase Order Number. Later, when these goods are received, the Purchase Order is tracked for the Order Details either in the receipt note or in the purchase Invoice.

How to maintain Cost category and cost center in Tally

cost centre and cost category is very helpful to maintain detail about the employee like employee name, employee salary (basic, daily allowances, HRA (house rent allowances) etc. Before starting the cost category &cost center is very necessary for every accountant to know about cost category & why need arises to activate it?

Types of Accounting Voucher in Tally -part 2

When any person start business or running business then many stock or items are purchased or sales in business so, proper record for all the items list of ledger is maintained. After the list of ledger purchased and sale voucher is prepared. How purchase and sale voucher is prepared. Following steps which are shown as below:

How to create a ledger in Tally

The need of creating a ledger is arises when data are recorded in a systematic way. So, tally software plays a very important role for this purpose. Whenever any need arises then any user can check it any time. The main aim of creating a ledger is that some expenses, losses incomes, gains are incurred in business. so, proper items are recorded in ledger.

Introduction to Accounting Information

Accounting

The systematic recording, reporting, and analysis of financial transactions of a business. First of all to introduce the Tally software, accounting knowledge about the journal, ledger, trial balance, final account is necessary for every accountant. So, for this purpose some important term related to journal which are explained in below.