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https://help.tallysolutions.com/docs/te9rel51/Tax_International/United_Kingdom/vat_ledger.htm

VAT Ledger - United Kingdom

Creating an Input VAT Ledger

To create an input VAT ledger,

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

  1. Enter the Name of the Input VAT ledger

  2. In the Under field, select Duties & Taxes from List of Groups

  3. Enter the Percentage of Calculation as per requirement, for e.g., 17.5%

  4. Select the Method of Calculation as Tax Based on Item Rate

  1. Accept the input VAT ledger creation screen.

 

Creating an Output VAT Ledger

To create an input VAT ledger,

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

  1. Enter the Name of the Output VAT ledger

  2. In the Under field, select Duties & Taxes from List of Groups

  3. Enter the Percentage of Calculation as per requirement, for e.g., 17.5%

  4. Select the Method of Calculation as On Total Sales

  1. Accept the output VAT ledger creation screen.

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