You can create a common purchase ledger for all types of purchases without defining tax details in the purchase ledger master. The same can be done for common sales ledger. Separate ledgers, define different tax rates in the purchase and sales ledger masters.
To create a common purchase ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the purchase ledger.
3. Select Purchase Accounts in the Under field.
4. Set the option Inventory values are affected? to Yes.
5. Set Is VAT/CST Applicable? to Applicable.
6. Set the option Type of Ledger to Not Applicable.
Note: The option Type of Ledger is provided based on the state specific requirements of VAT/CST forms and annexures. It appears based on the State selected in Company VAT Details screen. In this example, the State is selected as Bihar.
7. Press Enter to skip the field Set/Alter VAT Details?.
The Ledger Creation screen is displayed as shown below:
Note: In Ledger Creation screen of company enabled for Uttarakhand VAT, additional option of Is Sales Tax applicable and Set/alter sales tax cess appear as shown below, if cess feature is enabled in Company Operations Alteration screen:
Set the rate of cess in the Sales Tax Cess screen and press Enter to save.
8. Press Enter to save.
To create a ledger defined with Nature of Transaction and tax rate
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the purchase ledger.
3. Select Purchase Accounts in the Under field.
4. Set the option Inventory values are affected? to Yes.
5. Set the option Type of Ledger to Not Applicable.
Note: The option Type of Ledger is provided as per the requirements of state specific return forms and annexures. This option is provided for Bihar.
6. Set Is VAT/CST Applicable? to Applicable.
7. Set the option Set/Alter VAT Details? to Yes. In the VAT Details screen,
8. Set the Classification option to:
o Undefined if unique tax rate and commodity details have to be defined.
o Any of the user-defined VAT Classification. Once it is applied, rest of the options disappear and cursor returns to Ledger Creation screen.
9. Select the Nature of Transaction.
10. Enter the Tax rate.
Note: The option Additional Tax appears on selecting the State as Uttar Pradesh in the Company VAT Details screen.
The VAT Details screen appears as shown below:
11. Press Ctrl+A to accept.
To create a common sales ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the sales ledger.
3. Select Sales Accounts in the Under field.
4. Set Inventory values are affected? to Yes.
5. Set the option Type of Ledger to Not Applicable.
Note: The option Type of Ledger is provided based on the state specific requirements of VAT/CST forms and annexures. It appears based on the State selected in Company VAT Details screen. In this example, the State is selected as Bihar.
6. Set Is VAT/CST Applicable? to Applicable.
7. Press Enter to skip the field Set/Alter VAT Details? The Ledger Creation screen appears as shown below:
Note: In Ledger Creation screen of company enabled for Uttarakhand VAT, additional option of Is Sales Tax applicable and Set/alter sales tax cess appear as shown below, if cess feature is enabled in Company Operations Alteration screen:
Set the rate of cess in the Sales Tax Cess screen and press Enter to save.
8. Press Enter to save.
To create a ledger defined with nature of transaction, commodity details, and tax rate
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the sales ledger.
3. Select Sales Accounts in the Under field.
4. Set Inventory values are affected to Yes.
5. Set Is VAT/CST Applicable to Applicable.
6. Enable the option Set/Alter VAT Details?.
7. Select the required Classification in VAT Details screen. In the VAT Details screen,
1. Set the Classification to:
o Undefined if unique tax rate and commodity details have to be defined.
o Any of the user-defined VAT Classification. Once it is applied, rest of the options will disappear and cursor returns to Ledger Creation screen.
2. Select the Nature of Transaction.
3. Enter the Tax rate.
Note: The option Additional Tax appears on selecting the State as Uttar Pradesh in the Company Creation screen.
The VAT Details screen appears as shown below:
4. Press Enter to save, and return to Ledger Creation screen.
5. Press Ctrl+A to accept.
To create an additional expense/income ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the ledger.
3. Select Indirect Expenses in the Under field.
4. Set the option Inventory values are affected? to No.
5. Select the Type of Ledger as Discount.
Note: The option Type of Ledger is provided based on the state specific requirements of VAT/CST forms and annexures. It appears based on the State selected in Company VAT Details screen. In this example, the State is selected as Bihar.
The Ledger Creation screen appears as shown below:
6. Press Enter to save.
Click here for options provided in purchase, sale and additional expense/income ledgers as per state specific requirements of VAT/CST returns and annexures.
'Purchase, Sales and Additional Expense/Income Ledger' has been shared with
