Creating a Sales Ledger - Phillipines

To create a Sales Ledger,

Go to Gateway of Tally > Accounts Info > Ledger > Create

1. Enter the Name of the sales ledger you wish to create

2. In the Under field, select the Sales Accounts from the List of Groups

3. By default Inventory values are affected will be set to Yes

4. Set the option Used in VAT Returns to Yes, to select the applicable Type of Industry

5. Select the required classification, for e.g., Wholesale & Retail from the drop down list under the field Type of Industry. The drop down list consists of the Type of Industries pertaining to Philippines. If you do not wish to select a classification at the Ledger level, select Not Applicable

6. Accept the sales ledger creation screen.

Note: From Rel 4.8 an option to provide Bank Details is provided in the Ledger Master.

Note:  Types of Industry is applicable only in the case of taxable sales. Therefore, if the user is selecting the taxable sales as VAT/Tax Class then this Type of Industry list will appear.