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Recording Purchase - Works Contract (Puducherry)

Purchase of works contract can be recorded with  Purchase - Works Contract as the Nature of Transaction in the purchase invoice. Deduction can be claimed for tax calculation.

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 Ctrl+A to accept.

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 save.