To create a Journal voucher for interest payable
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment.
o Select the option VAT in the Type of Duty/Tax field.
o Select the option Increase of Tax Liability in the Nature of Adjustment field.
o Select the option Interest in the Additional Details field.
o Press Enter to return to voucher.
3. Debit the expense ledger created under the group Indirect Expenses and enter the value in the amount field.
4. Credit the ledger grouped under Current liabilities.
The journal voucher appears as shown below:
5. Press Enter to save.
'Adjustment - Increase of Tax (Kerala)' has been shared with
