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 the party ledger in Party's A/c Name option.
4. Select the Purchase Ledger with Purchase - Works Contract predefined as the Nature of Transaction.
If common 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, and enter the amount.
6. Enter the information in Works Contract Details screen as shown below:
7. Select the VAT and surcharge ledgers.
8. Click A: Tax Analysis to display the Tax Analysis screen.
9. Click F1: Detailed to view the names of stock items. The Tax Analysis screen appears as shown below:
10. Press Esc to return to purchase invoice. The purchase invoice appears as shown below:
11. Press Enter to save.
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