Purchase - Works Contract

To record a works contract transaction

1.     Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.

2.     Enter Supplier Invoice No. and Date.

3.     Select supplier ledger in the Party's A/c Name field.

4.     Select the Purchase Ledger with Purchase - Works Contract as the Nature of transaction.

Note: If common purchase ledger is being used:

■    Click F12: Configure in the invoice and set the option Allow Modification of Tax Details for VAT? to Yes.

■    Select Purchase - Works Contract in the VAT Classification Details screen displayed on selecting the common purchase ledger.

5.     Select the stock item, enter the Quantity and Rate.

o      Enter the percentage or amount of deduction in the Deduction Claimed for Tax Calculation screen.

o      Press Enter to save.

6.     Click A: Tax Analysis to display the Tax Analysis screen.

o      Click F1: Detailed to view the names of stock items. The Tax Analysis screen appears as shown below:

o      Pres Esc to return to purchase invoice screen.

The purchase invoice appears as shown below:

7.     Press Enter to accept the invoice.