Users can classify Tally Groups/Ledgers under Schedule VI Income and Expenditure Heads as required, all the while keeping the Profit & Loss A/c and data intact.
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View Schedule VI Rule Configuration
Schedule VI Rule Configuration for Ledgers
Schedule VI Rule Configuration for Groups
Go to Gateway of Tally > Audit & Compliance > Financial Statements > Profit & Loss A/c .
Place the cursor on a Schedule VI Head and press Enter . The Note Summary for the selected Schedule VI Head appears:
Drill down into the Schedule VI Heads in the Note Summary report for Schedule VI Rule Configuration .
The Ledgers classified under the selected Schedule VI Head will appear as shown below:
Place the cursor on the required Ledger and click on Ctrl+Enter : Classify or press Ctrl+Enter to define Schedule VI Rule. The Schedule VI Configuration screen appears:
To set Rules for multiple Ledgers at once, select the required Ledgers using Spacebar , and click on C : Multi Classify or press Alt+C .
The Group Schedule VI Rule Alteration screen appears as shown below:
In the Note Summary screen, click on F5 : Grouped, or press F5 . The Note Summary screen appears as shown below:
The Groups that have been classified under the respective Schedule VI Head appears as shown below:
Place the cursor on the required Group and click on Ctrl+Enter : Classify or press Ctrl+Enter to define Schedule VI Rule.
To set Rules for multiple Ledgers at once, select the required Groups using Spacebar , and click on C : Multi Classify or press Alt+C .
The procedure to configure Schedule VI Rules for both Ledgers and Groups are the same.
Schedule VI Rule Configuration for Groups/Ledgers can be done based on Classification Type and Schedule VI Groups.
There are 6 ways to classify the balances of Tally Groups/Ledgers under the different Schedule VI Heads :
1. Entire Balance : The use of this Classification Type is the same as in Schedule-VI Balance Sheet .
2. Bifurcate Balance : The use of this Classification Type is the same as in Schedule-VI Balance Sheet .
3. Dr/Cr Closing Balance : The use of this Classification Type is the same as in Schedule-VI Balance Sheet .
4. Dr/Cr Pending Amount : The use of this Classification Type is the same as in Schedule-VI Balance Sheet .
5. Dr/Cr Transactions Total : This option is used when a common Group/Ledger is used for both Debit and Credit transactions . In this case, the amount of expenditure has to be classified under an Expense Head, and the amount of Income under an Income Head. For example, Discount is a Ledger under which is used for recording entries for both Discount Allowed (expense) and Discount Received (income).
● Choose Dr/Cr Transactions Total as the Classification Type
● Choose the Head under which the total of Debit transactions have to be classified, and the Head under which the total amount of credit transactions have to be classified.
● Press Enter to save the Configuration.
6. Group Nett Balance : This option is available only for Group-level classification of balance into Schedule VI Heads, and the Group to be classified consists of debit and credit Ledger balances. For example, a Group, Miscellaneous Expenses, has Travel Expenses and Commission charges categorised under it. In such a case,
● Choose Group Nett Balance as the Classification Type.
● Choose the Expense Head under which the Debit Balance should be classified.
● Choose the Income Head under which the Credit Balance should be classified.
● Press Enter to save the configuration.
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