https://help.tallysolutions.com/docs/te9rel65/Auditor_Edition/India/Statutory_Audit/altering_default_mapping_rule.htm

Configure Schedule VI Rule (India)

Users can classify Tally Groups/Ledgers under Schedule VI Heads as required, all the while keeping the Balance Sheet and data intact.

On this page

View Schedule VI Balance Sheet

Schedule VI Rule Configuration for Ledgers

Schedule VI Rule Configuration for Groups

Schedule VI Classification

View Schedule VI Balance Sheet

1. Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet .

2. Select Schedule VI Head and press Enter . The Note Summary for the selected Schedule VI Head appears as shown below:

3. Drill down into the Schedule VI Heads in the Note Summary report for Schedule VI Rule Configuration .

Schedule VI Rule Configuration for Ledgers

The Ledgers classified under the selected Schedule VI Head will appear:

Place the cursor on the required Ledger and click on Ctrl+Enter : Classify or press Ctrl+Enter to define Schedule VI Rule .

The Schedule VI Configuration screen appears as shown below:

To set Rules for multiple Ledgers at once, select the required Ledgers using Spacebar , and click on C : Multi Classify or press Alt+C .

The Group Schedule-VI Rule Alteration screen appears as shown below:

Schedule VI Rule Configuration for Groups

In the Note Summary screen, click on F5 : Grouped , or press F5 .

The Groups that have been classified under the respective Schedule VI Head appears:

Place the cursor on the required Group and click on Ctrl+Enter : Classify or press Ctrl+Enter to define Schedule VI Rule .

To set Rules for multiple Ledgers at once, select the required Groups using Spacebar , and click on C : Multi Classify or press Alt+C .

Schedule VI Classification

The procedure to configure Schedule VI Rules for both Ledgers and Groups are the same.

Schedule VI Rule Configuration for Groups/Ledgers can be done based on Classification Type and Schedule VI Groups .

There are 6 ways to classify the balances of Tally Groups/Ledgers under the different Schedule VI Heads :

1. Entire Balance

This option is used when the balance of a Group/Ledger has to be classified under a single Schedule VI Head .

Choose Entire Balance as the Classification Type as shown below:

Press Enter . The cursor moves to the Classify Under field, and a List of Groups (Schedule VI Groups) is displayed as shown below:

Select the required Schedule VI Group :

Press Enter .

Press Enter or Y to Accept the Schedule VI Configuration made for the Group/Ledger .

2. Bifurcate Balance

This option is used for dividing the balance of the selected Group/Ledger and classifying them under two different Schedule VI Heads . For instance, the Group, Loans, may consist of Current as well as Non- Current liabilities. And hence, the balance of this group has to be divided between the respective Schedule VI Heads .

Choose Bifurcate Balance as the Classification Type .

In the Classify Balance field, specify the amount that is to be apportioned to the first Schedule VI Head .

Press Enter .

The cursor moves to the next field and a List of Groups is displayed, from which the appropriate Schedule VI Head can be chosen as shown below:

Similarly, specify the remaining amount and the appropriate Schedule VI Head in the next fields as shown below:

Press Enter to Accept the Schedule VI Rule for the Group/Ledger chosen as shown below:

S: Get Transactions option is available for this Classification Type . Clicking on this button will display the relevant Vouchers. Press Ctrl+A to Accept the transaction value. This will fill in the Value field automatically.

3. Dr/Cr Closing Balance

This option is used when a Group/Ledger has both debit and credit balances. For instance, a debtor will have credit balance if advance payment has been received from him. In this case, the debit balance has to be classified under Trade Receivables, and the Credit balance has to be classified under income received in advance.

Choose Dr/Cr Closing Balance as the Classification Type .

In the Classify Debit Balance Under field, choose the Schedule VI Group under which the debit balance is to be presented.

In the Classify Credit Balance Under field, choose the Schedule VI Group under which the credit balance is to be presented.

Press Enter or Y to Accept the Schedule VI Configuration made for the Group/Ledger .

4. Dr/Cr Pending Amount

This option is used when a Group/Ledger has both pending payable and pending receivable. For instance, a supplier may also be a buyer for the business. In such a case, the debit amount has to be classified as Trade Receivable and the credit amount has to be classified under trade payable.

Choose Dr/Cr Pending Amount as the Classification Type .

In the Debit Pending Amount field, select the Schedule VI Group under which the pending debit amount has to be presented.

In the Credit Pending Amount field , select the Schedule VI Group under which the pending credit amount has to be presented.

Press Enter or Y to Accept the Schedule VI Configuration made for the Group/Ledger .

5. Dr/Cr Transactions Total - The use of this Classification Type is the same as in Schedule-VI Profit & Loss A/c

6. Group Nett Balance - The use of this Classification Type is the same as in Schedule-VI Profit & Loss A/c