To create a purchase ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
Enter the Name of the purchase ledger.
Group it under Purchase Accounts.
Set the option Inventory values are affected to Yes.
Set the option Is Excise Applicable to Applicable.
Enable the option Set/Alter Excise Details to define tariff details if required.
To define tariff details
Enter Tariff Name and HSN Code.
Select the Reporting UOM and Valuation Type.
Enter the Rate of duty.
Accept the Excise Tariff Details screen.
Note: If user defined Excise Classification is created, the same can be selected in the Classifications option of Excise Tariff Details screen. The Classifications option appears only when the option Define Excise tariff and duty details as masters is enabled in Excise Registration screen at the company level.
Accept the Ledger Creation screen.
To create a Sales Ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
Enter the Name of the sales ledger.
Group it under Sales Accounts.
Set the option Inventory values are affected to Yes.
Set the option Is Excise Applicable to Applicable.
Enable the option Set/Alter Excise Details to define tariff details if required.
To define excise details
Enter Tariff Name and HSN Code.
Select the Reporting UOM and Valuation Type.
Enter the Rate of duty.
Accept the Excise Tariff Details screen.
Note: If user defined Excise Classification is created, the same can be selected in the Classifications option of Excise Tariff Details screen. The Classifications option appears only when the option Define Excise tariff and duty details as masters is enabled in Excise Registration screen at the company level.
Accept the Ledger Creation screen.
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