To create Sales Ledger:
Go to Gateway of Tally > Accounts Info > Ledgers > Create
Enter a name for the sales account in the Name field.
In the Under field, select Sales Accounts from the List of Groups.
Set Inventory Values are affected? to Yes.
Set Used In VAT Returns to Yes.
In VAT/Tax Class screen, select VAT/TAX Class eg. Sales @ 12.5% from the List of VAT/TAX Class.
Set the option Use for Assessable Value Calculation to No
Note: From Rel 4.8 an option to provide Bank Details is provided in the Ledger Master.
Press Enter to accept and save.
To Create Output VAT Ledger
Go to Gateway of Tally > Accounts Info > Ledgers > Create
Enter a name for the Output VAT account in the Name field.
In the Under field, select Duties & Taxes from the List of Groups.
In Type of Duty/Tax field, select VAT from Types of Duty/Tax.
Select the VAT/Tax Class eg. Output VAT @ 12.5% form the List of VAT/Tax Class.
Press Enter to accept and save.
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