Type search words and press enter
Seamless e-invoicing is now at your fingertips. Check out our self-help videos.
https://help.tallysolutions.com/docs/te9rel49/Bangladesh/Purchase_of_Services.htm

Purchase of Service (Malaysia)

 

To create a voucher for Purchase of Services:

Go to Gateway of Tally > Accounting Vouchers > F9: Purchases

In the F12: Purchase Invoice Configuration, set the option Use Common Ledger A/c for Item Allocation to No.

  1. Press the toggle key Alt+I to select the option Accounts Invoice.

  2. Enter the reference number in the Ref field. The invoice date will automatically be entered in the Date field and this can be changed if required.

  3. Select the Party’s A/c Name from the List of Ledger Accounts.

Note: The supplementary duty paid can be accounted for in the following two methods:

• Considering the duty paid as cost of purchase and including it in the purchase value

• Selecting a separate ledger created under Purchase Accounts group for appropriating the duty paid in the purchase entry. The value can be appropriated by setting the field Method to allocate when used in Purchase invoice to Appropriate by Value.

  1. Select the purchase ledger grouped under Purchase Accounts with VAT/Tax class - Purchases @ 15% - Service.

Note: In the given entry, the supplementary duty is added to the cost of purchase.

  1. Select the input VAT ledger grouped under Duties & Taxes with VAT/Tax class - Input VAT @ 15% - Service. The amount of Input VAT is calculated on the assessable value.

  2. Enter the details in the field Narration, if required.

  1. Press Y or Enter to accept and save.

The purchase of services is recorded in an Accounts Invoice as ledger accounts are created and selected in place of stock items. However, an item invoice can also be used by creating the service as a stock item and selecting the same under the Name of Items field of Item Invoice.

Note: The value of purchases made using the VAT/Tax Class - Purchases @ 15% – Services will be captured in Box 11 of MUSAK–19. The value captured will be inclusive of additional expenses and supplementary duty. The input VAT charged on purchases will be captured in Box 11 under Creditable Tax column and also box 16, 19 and 22 of MUSAK–19.

The narration of the entry with input VAT amount will be displayed in Annexure MUSAK–18.

 

Mail this article