Journal Vouchers in Release 5.1 (Uttar Pradesh)

Below is a brief description about the nature of adjustments in Tally.ERP 9 release 5.1, and how each adjustment corresponds to the adjustment flags available in previous releases. Journal vouchers for accounting adjustments can be recorded using the various nature of adjustments provided in 5.1.

VAT Adjustments - upto Release 4.93	Nature of Adjustment - From 5.1
VAT Adjustments - upto Release 4.93	Type of Duty/Tax	Nature of Adjustment	Additional Details
Adjustment Against Compounding Scheme Liability	VAT and CST	Increase of Tax Liability	Compounding Scheme Liability
Adjustment Against Tax Payable	VAT	Reducing Tax Liability	Adjusting with ITC
Adjustment Against TDS Liability	VAT	Reducing Tax Liability	Adjusting with TDS
Adjustment Towards CST	VAT	Decrease of Input Tax	Against CST
Adjustment Towards Refund Claim	VAT	Refund of Input Tax	Not Applicable
Adjustment Towards Refund Order	VAT	Refund of Input Tax	Refund Order
Compounding Scheme Liability	VAT	Increase of Tax Liability	Switch Over
Input Tax Credit Admitted On Capital Goods	VAT	Input Tax Credit Admitted On Capital Goods	---
Input Tax Credit Not Qualifying and Reversal	VAT	Reversal of Input Tax	---
Input Tax Credit on Opening Stock	VAT	Increasing Input Tax	Opening Stock
Tax on URD Purchase	VAT	Tax on URD Purchase	---
TDS Liability	VAT	Reducing Tax Liability	TDS Liability

To create a journal voucher for refund

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.

2. Click J: Stat Adjustment to enable the required options in the Stat Adjustment Details screen.

3. Debit the ledger grouped under Current Assets and enter the amount.

4. Credit the VAT ledger. Enter the tax Rate, Addl. Tax and Assessable Value in the VAT Details screen.

5. Credit the additional tax ledger. The journal voucher appears as shown below:

6. Press Enter to save.