https://help.tallysolutions.com/docs/te9rel60/Tax_India/VAT/Odisha/OD_Journal_Vch.htm

Recording Journal Vouchers (Odisha)

The section below describes the nature of adjustments in Tally.ERP 9 release 5.0, and how each adjustment corresponds to the adjustment flags available in previous releases. Journal vouchers for accounting adjustments can be recorded using the various nature of adjustments provided in 5.0.

VAT Adjustments - upto Release 4.93

Type of Duty/Tax (From 5.0)

Nature of Adjustment (From 5.0)

Additional Details (From 5.0)

Adjustment Towards CST

VAT and CST

Decrease Of Input Tax

Against CST

Adjustment Towards Refund Claim

VAT

Refund of Input Tax

 

Excess CST Carried Forward

CST

Decrease Of CST

Excess Paid

Input Tax Adjustment for Purchases From URDs

VAT

Input Tax Adjustment for Purchases From URDs

 

Input Tax Credit on Opening Stock

VAT

Increasing Input Tax

Opening Stock

Interest Payable

VAT

Increase of Tax Liability

Interest

Interest Payable on CST

CST

Increase of Tax Liability

Interest

Refund Adjustment As Per Rule 65

VAT

Refund of Input Tax

Rule 65

Refund Adjustment As Per Rule 66

VAT

Refund of Input Tax

Rule 66

Reversal Input Tax Credit on Interstate Sales

   VAT

Reversal of Input Tax

Interstate Sales

Reversal Input Tax Credit on Transfer

VAT

Reversal of Input Tax

Stock Transfer

Reversal of ITC on Apportionment for Manufacturing of Exempt Goods

VAT

Reversal of Input Tax

Manufacturing of Exempt Goods

Reversal of ITC on Goods Sold Below Purchase Price

VAT

Reversal of Input Tax

Goods Sold Below Purchase Price

Reverse Credit - on Exempt Goods

VAT

Reversal of Input Tax

Exempted Goods

Reverse Credit on Goods Damaged / Lost

VAT

Reversal of Input Tax

Goods Damaged / Lost

Reverse Credit on Goods Sold Other Than Interstate Sales

VAT

Reversal of Input Tax

Reverse Credit on Goods Sold Other Than Interstate Sales

Reverse Credit on Goods Unsold As Per Section 16

VAT

Reversal of Input Tax

Goods Unsold As Per Section 16

Reverse Credit on Goods Unsold at the Time of Business Closure

VAT

Reversal of Input Tax

Goods Unsold at the Time of Business Closure

Reverse Credit on Others

VAT

Reversal of Input Tax

Others

Reverse Credit - On Switch Over Option

VAT

Reversal of Input Tax

Switch Over

Reverse Input Tax Credit on Mining and Electricity

VAT

Reversal of Input Tax

Used in Mining and Electricity

Tax Paid in Excess

VAT

Decrease of Output Tax

Tax Paid in Excess

Adjustment of ITC Towards Transfer Rights

VAT

Increasing Input Tax

Adjustment of ITC Towards Transfer Rights

 

VAT

Decrease of Output Tax

Advance Tax

 

VAT

Input Tax Credit Admitted On Capital Goods

 

 

VAT

Reversal of Input Tax

Capital Goods

To create a journal voucher

1.    Go to Gateway of Tally > Accounting Vouchers > F7: Journal.

2.    Click J: Stat Adjustment.

3.    Debit the CST ledger and enter the value in the amount field.

4.    Credit the VAT ledger created under Duties & Taxes.

The journal voucher appears as shown below:

5.    Press Enter to save.