When you provide works contracts, you need to record it as the sale of works contract. You can capture the sale of works contracts in Tally.ERP 9.
To record a works contract transaction
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales > Tax Invoice
2. Select the party ledger in Party's A/c Name option.
3. Select the Sales Ledger with Sales - 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 Sales - Works Contract in the VAT Classification Details screen displayed on selecting the common sales ledger.
4. Select the stock item, and enter amount.
5. Enter the percentage or amount of deduction in the Deduction Claimed for Tax Calculation screen, as shown below:
6. Select the VAT and surcharge ledgers.
7. Click A: Tax Analysis to display the Tax Analysis screen.
8. Click F1: Detailed to view the names of stock items in Tax Analysis screen.
9. Press Esc to return to sales invoice. The sales invoice appears as shown below:
10. Press Enter to save.
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