A business deals with customers, wholesalers, retailers and many such business parties on a day-to-day basis. You need to create party ledgers to record transactions that you make, which may involve receipts or payments, or supplies or receipts from these parties.
On this page:
To create a supplier ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the supplier ledger.
3. Select Sundry Creditors from the List of Groups, in the Under field.
4. Set Maintain balances bill-by-bill to Yes.
5. Enter the Default Credit Period, if any.
6. Set Check for credit days during voucher entry to Yes, if required.
7. Enter the Mailing Details.
8. Select the required Country.
9. Provide bank details, if required.
10. Enter the PIN.
11. Enable the option Set/Alter VAT Details.
To enter VAT details
1. Select the Type of Dealer from the Type of Dealer list.
2. Enter the VAT No.
The VAT Details screen appears as shown below:
3. Press Enter to save.
To enter the exemption details of the supplier
1. Press F12: Configure in the VAT Details screen.
2. Set the option Allow exemption details? to Yes.
3. Press Ctrl+A to return to the VAT Details screen.
4. Select the Type of Exemption.
5. Enter the Exemption Certificate No., if required.
The VAT Details screen appears as shown below:
6. Press Enter to return to the Ledger Creation screen.
12. Provide the relevant details.
The Ledger Creation screen appears as shown below:
13. Press Enter to save.
To create a customer ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the customer ledger.
3. Select Sundry Debtors from the List of Groups, in the Under field.
4. Set Maintain balances bill-by-bill to Yes.
5. Enter the Default Credit Period, if any.
6. Set Check for credit days during voucher entry to Yes, if required.
7. Enter the Mailing Details.
8. Select the required Country.
9. Provide bank details, if required.
10. Enter the PIN.
11. Enable the option Set/Alter VAT Details.
To enter the VAT details
1. Select the Type of Dealer from the Type of Dealer list.
2. Enter the VAT No. The VAT Details screen appears as shown below:
3. Press Enter to save.
To enter the exemption details of the customer
1. Press F12: Configure in the VAT Details screen.
2. Set the option Allow exemption details? to Yes.
3. Press Ctrl+A to return to the VAT Details screen.
4. Select the Type of Exemption.
5. Enter the Exemption Certificate No., if required. The VAT Details screen appears as shown below:
6. Press Enter to return to the Ledger Creation screen.
12. Provide the relevant details.
The Ledger Creation screen appears as shown below:
13. Press Enter to save.
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