Creating Party Ledger (TCS)

To create a party ledger (Buyer)

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create

2. Enter the Name.

3. Select Sundry Debtor as the group name in the Under field.

4. Enable the option Maintain bill-by-bill, if required.

   1. Set a Default credit period.

   2. Enable the option Check for credit days during voucher entry, if required.

    

5. Enable the option Is TCS Applicable.

6. Select a Collectee Type in the Buyer/Lessee field.

7. Enter the Name of the service provider under Mailing Details.

8. Enter the Address.

9. Select the Country from the List of Countries.

10. Select the State from the List of States.

11. Enter the PIN Code.

12. Enable Provide Bank Details, if required.

    To provide the bank details

    1. Enter the Nickname for the service provider.

    2. Alter the Favouring Name, if required.

    3. Select the Transaction Type from the List of Transaction Types.

    4. Enable the option Set as Default, if required.

13. Enter the PAN under Tax Information.

14. Enable the option Provide PAN Details to enter PAN details of the party.

    1. Enter the PAN Effective Date.

    2. Enter the Name on PAN.

    3. Press Enter to save the details.

The Ledger Creation screen appears as shown below:

15. Press Ctrl + A to save the details.

For more configurations, click here.