In Tally.ERP 9, you can account for incomes and expenses in the form of sales ledgers and purchase ledgers, respectively.
To create a purchase ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the purchase ledger.
3. Select Indirect Expenses or Direct Expenses, in the Under field.
4. Set the option Inventory values are affected? to Yes.
5. Set Is VAT/CST Applicable? to Applicable.
6. Enable the option Set/Alter VAT Details? to open the VAT Details screen.
To enter the VAT details
1. Select required Classification.
2. Select required Nature of Transaction.
3. Enter the VAT Rate details, as applicable.
The VAT Details screen appears as shown below:
4. Press Enter to save.
To enter additional details, click F12: Configure, enable the required options, and press Enter.
The expense Ledger Creation screen appears as shown below:
7. Press Enter to save.
To create a sales ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the sales ledger.
3. Select Indirect Incomes or Direct Incomes 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 to open the VAT Details screen.
To enter the VAT details
1. Select required Classification.
2. Select required Nature of Transaction.
3. Enter the VAT Rate details, as applicable.
The VAT Details screen appears as shown below:
4. Press Enter to save.
To enter additional details, click F12: Configure, enable the required options, and press Enter.
The income Ledger Creation screen appears as shown below:
7. Press Enter to save.
'Creating Income and Expense Ledgers (Gujarat)' has been shared with
