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https://help.tallysolutions.com/docs/te9rel49/Philippines/journal_voucher_philippines.htm

Creating a Journal Voucher (Philippines)

 

To create a Journal using a Voucher Class,

Go to Gateway of Tally > Accounting Vouchers > F7: Journal

Select the class as VAT Adjustment Class from the Voucher Class List

Select the required adjustment from the VAT Adjustments list in the field Used For field

Creating a Journal for Compromise

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Compromise in Used for field

  3. Select the Ledger Compromise Account grouped under Indirect Expenses from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the Ledger Compromise Payable Account grouped under Current Liabilities from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Attributable Input Tax Towards Exempted Sales

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Attributable Input Tax Towards Exempted Sales in Used for field

  3. Select the Ledger Expenses Account created under Indirect Expenses from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited from the List of Ledger Account to be credited

  5. Select the Ledger Input VAT @ 12% on Goods from the List of Ledger Accounts to be credited

  6. The Amount is automatically

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Deferred Input Tax on Capital goods Greater than P1M

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Deferred Input Tax on Capital goods Greater than P1M in the Used for field

  3. Debit  the Ledger Deferred Input Tax on Capital Goods grouped under Current Assets from the List of Ledger Accounts

  4. Enter the amount to be debited

  5. Select the Ledger Input VAT on Capital Goods from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Input Tax Reversal - Others

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Input Tax Reversal - Others in Used for field

  3. Select the Ledger Expenses Account created under Indirect Expenses from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the ledger Input VAT @ 12% on Goods from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating an Entry for Advance Tax Payments Made

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Advance Tax payment Made in Used for field

  3. Select the Ledger Advance Tax Paid grouped under Current Assets from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the ledger VAT Payable Account grouped under Current Liabilities from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Not Attributable Input Tax Towards Exempted Sales

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Input Tax Not Attributable Towards Exempted Sales in Used for field

  3. Select the Ledger Expense Account from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the Ledger Input Vat @ 12% on Goods from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Interest Payable

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Interest Payable in Used for field

  3. Select the ledger - Interest grouped under Indirect Expenses from the List of Ledger Accounts to be debited.

  4. Enter the amount to be debited.

  5. Select the Ledger Interest Payable grouped under Current Liabilities from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Not attributable Input Tax Towards Sales to Government

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Input Tax Not Attributable Towards Sale to Govt in Used for field

  3. Select the Ledger Expenses Account from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the Ledger Input Vat @ 12% - Services from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Transitional Input Tax

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Transitional Input Tax in Used for field

  3. Select the Ledger Input VAT @ 12% on Goods from the List of Ledger Accounts to be debited.

  4. Enter the amount to be debited.

  5. Select the Income grouped under Indirect Incomes from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Withheld Tax Credit Availed – Government

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Withheld Tax Credit Availed – Govt in Used for field

  3. Select the Ledger Output VAT @ 12% on Goods (Govt) from the List of Ledger Accounts to be debited.

  4. Enter the amount to be debited

  5. Select the Ledger Expenses Account from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Standard Input Tax to sale to Government

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Standard Input Tax to Sale to Govt in Used for field

  3. Select the Ledger Input VAT @ 12% on Goods from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the ledger Income from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Surcharge Payable

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Surcharge Payable in Used for field

  3. Select the ledger Surcharge grouped under Indirect Expenses from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the ledger Surcharge Payable grouped under Current Liabilities from the List of Ledger Accounts to be credited.

  6. The Amount is automatically entered.

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for VAT Refund/TCC Claimed

Go to Gateway of Tally> Accounting Voucher > F7: Journal

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select VAT Refund/TCC Claimed in Used for field

  3. Select the Ledger, Refund Receivable grouped under Current Assets from the List of Ledger Accounts to be debited

  4. Enter the amount to be debited

  5. Select the ledger Input Vat on NRI Service grouped under Duties & Taxes (with the Type of Duty as VAT) from the List of Ledger Accounts to be credited

  6. The Amount is automatically entered

  7. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Presumptive Input Tax

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Presumptive Input Tax in Used for field

  3. Select Input VAT @ 12% on Services ledger from the List of Ledger Accounts to be debited

  4. Select Income ledger from the List of Ledger Accounts to be credited

  5. The Amount is automatically entered

  6. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

Creating a Journal for Withheld Tax Credit Availed – Others

  1. Select VAT Adjustment Class as the Voucher Class

  2. Select Withheld Tax Credits Availed - Others in Used for field

  3. Select Output VAT @ 12% on Goods ledger from the List of Ledger Accounts to be debited

  4. Select Expenses Account ledger from the List of Ledger Accounts to be credited

  5. The Amount is automatically entered

  6. Enter Narration, if required

  1. Press Y or Enter to accept and save.

 

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