To create a purchase ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
Enter the Name of the purchase ledger.
Select Purchases from the List of Groups in the field Under.
Set the option Inventory values are affected to Yes.
Select the Rounding Method, as required.
Set the option Is VAT/ CST Applicable to Applicable.
Enable the option Set/ Alter VAT/ CST Details to define tariff details for this ledger, if required.
Set the option Is Excise Applicable to Applicable.
Enable the option Set/ Alter Excise Details to define tariff details for this ledger, if required.
To Record Excise Details,
Enter Tariff Name.
Enter HSN Code.
Select the Reporting UOM.
The cursor skips the field Valuation Type. To modify it, click F12: Configure.Enable the option Allow Modification of Valuation Type.
Enter the Rate of duty.
Press Enter
You can record excise details based on the date of applicability for different periods, if required.
Select the required Duty/Tax in the field Include in Assessable Value Calculation for.
Select the required Method of Calculation.
Press Enter.
To create a Sales Ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
Enter the Name of the sales ledger.
Select Sales from the List of Groups in the field Under.
Set the option Inventory values are affected to Yes.
Select the Rounding Method, as required.
Set the option Is VAT/ CST Applicable to Applicable.
Enable the option Set/ Alter VAT/ CST Details to define tariff details for this ledger, if required.
Set the option Is Excise Applicable to Applicable.
Enable the option Set/ Alter Excise Details.
To Record Excise Details,
Enter Tariff Name.
Enter HSN Code.
Select the Reporting UOM.
The cursor skips the field Valuation Type. To modify it, click F12: Configure.Enable the option Allow Modification of Valuation Type.
Enter the Rate of duty.
Press Enter
You can record excise details based on the date of applicability for different periods, if required.
Select the required Duty/Tax in the field Include in Assessable Value Calculation for.
Select the required Method of Calculation.
Press Enter.
Click a link below to configure the purchase/ sales ledger:
Configuring Selection of Tariff Type
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