https://help.tallysolutions.com/docs/te9rel64/Tax_India/excise-mfg/em-purchase-sale-vat.htm

Creating Purchase and Sales Ledgers (Excise for Manufacturer)

Purchase and sales ledger are used to record the purchase and sales values in respective transactions. A report of purchase ledgers will give summary of all purchases in a given period.

To create a purchase ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the purchase ledger.

3. Select Purchases from the List of Groups in the field Under .

4. Set the option Inventory values are affected to Yes .

5. Select the Rounding Method , as required.

6. Set the option Is VAT/ CST Applicable to Applicable .

7. Enable the option Set/ Alter VAT/ CST Details to define tariff details for this ledger, if required.

8. Set the option Is Excise Applicable to Applicable .

9. Enable the option Set/ Alter Excise Details to define tariff details for this ledger, if required.

10. Select the required Duty/Tax in the field Include in Assessable Value Calculation for .

11. Select the required Method of Calculation.

12. Press Enter to save.

To create a Sales Ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the sales ledger.

3. Select Sales from the List of Groups in the field Under .

4. Set the option Inventory values are affected to Yes .

5. Select the Rounding Method , as required.

6. Set the option Is VAT/ CST Applicable to Applicable .

7. Enable the option Set/ Alter VAT/ CST Details to define tariff details for this ledger, if required.

8. Set the option Is Excise Applicable to Applicable .

9. Enable the option Set/ Alter Excise Details .

10. Select the required Duty/Tax in the field Include in Assessable Value Calculation for .

11. Select the required Method of Calculation.

12. Press Enter to save.

See Also

Configuring Selection of Tariff Type

Configuring Tax Calculation based on MRP

Selecting Multiple Duty Details