Users can classify Tally Groups/Ledgers under Schedule VI Income and Expenditure Heads as required, all the while keeping the Profit & Loss A/c and data intact.
To configure/reclassify the Schedule VI mapping rule,
Go to Gateway of Tally > Audit & Compliance > Financial Statements > Profit & Loss A/c.
Place the cursor on a Schedule VI Head and press Enter
The Note Summary for the selected Schedule VI Head appears:
Drill down into the Schedule VI Heads in the Note Summary report for Schedule VI Rule Configuration.
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:
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:
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
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:
The use of this Classification Type is the same as in Schedule-VI Balance Sheet
The use of this Classification Type is the same as in Schedule-VI Balance Sheet
The use of this Classification Type is the same as in Schedule-VI Balance Sheet
The use of this Classification Type is the same as in Schedule-VI Balance Sheet
This option is used when a common Group/Ledger is used for both Debit and Credit transactions . In this case, the amount of expenditure has to be classified under an Expense Head, and the amount of Income under an Income Head.
For e.g.: Discount is a Ledger under which is used for recording entries for both Discount Allowed (expense) and Discount Received (income).
Choose Dr/Cr Transactions Total as the Classification Type
Choose the Head under which the total of Debit transactions have to be classified, and the Head under which the total amount of credit transactions have to be classified.
Press Enter to save the Configuration
This option is available only for Group-level classification of balance into Schedule VI Heads, and the Group to be classified consists of debit and credit Ledger balances.
For e.g.: A Group, Miscellaneous Expenses, has Travel Expenses and Commission charges categorised under it. In such a case,
Choose Group Nett Balance as the Classification Type
Choose the Expense Head under which the Debit Balance should be classified
Choose the Income Head under which the Credit Balance should be classified
Press Enter to save the configuration
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