To create a Purchase Ledger,
Go to Gateway of Tally > Accounts Info > Ledger > Create
Enter the Name of the ledger, for e.g., Purchases - Goods @ 12%
Select the Under field, select Purchase Accounts from the List of Groups
By default Inventory values are affected to Yes
Set the option Used in VAT Returns to Yes
Select the required VAT/Tax Class, for e.g, Purchases - Goods @ 12% from the drop down list. The drop down list consists of the Purchase classifications pertaining to Philippines.
Press Enter to return to the Purchase ledger creation screen
Accept the Purchase Ledger Creation screen.
Note: From Rel 4.8 an option to provide Bank Details is provided in the Ledger Master.
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