Journal Voucher

Below is a brief description about the nature of adjustments in Tally.ERP 9 release 5.4, 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 5.4.

VAT Adjustments - upto Release 4.93	Nature of Adjustment - From 5.4
VAT Adjustments - upto Release 4.93	Nature of Adjustment	Additional Details
Additional Tax Payable U/s 3AA	Increase of Tax Liability	Additional Tax
Adjustment Towards CST	Decrease of Input Tax	Against CST
Adjustment Towards Entry Tax Paid	Reducing Tax Liability	Entry Tax
Advance Tax Paid	Reducing Tax Liability	Advance Tax Paid
Adjustment of Advance Deduction U/s 40 Or 41	Increase Of Output Tax	Advance Tax
Amount of Tax Deferred	Decrease of Output Tax	Tax Deferred
Input Tax Adjustment for Purchases From URDs	Input Tax Adjustment for Purchases From URDs	---
Rebate Under Section 24(12)	Decrease of Output Tax	Rebate
Reverse Credit - Goods Specified in Schedule- IV	Reversal of Input Tax	Goods Specified in Schedule- IV
Reverse Credit - Inter State Stock Transfer	Reversal of Input Tax	Inter State Stock Transfer
Reverse Credit - Intra State Stock Transfer	Reversal of Input Tax	Intra State Stock Transfer
Reverse Credit on Goods Damaged / Lost	Reversal of Input Tax	Goods Damaged / Lost
Reverse Credit - Sale of Goods in Schedule- I	Reversal of Input Tax	Sale of Goods in Schedule- I
Reverse Credit - Transfer of Right to Use Goods, Gifts Or Self Consumptions	Reversal of Input Tax	Transfer of Right to Use Goods, Gifts Or Self Consumptions
Sales of Goods Outside the State	Decrease in Sales	---
Surcharge Payable	Increase of Tax Liability	Surcharge
Tax Adjustment on Capital Goods	Input Tax Credit Admitted On Capital Goods	---
Tax on URD Purchase	Tax on URD Purchase	---
Tax Paid in Excess	Decrease of Output Tax	Tax Paid in Excess

Newly introduced VAT adjustments

Nature of Adjustment - From 5.4
Nature of Adjustment	Additional Details
Increase of Tax Liability	Interest
Increase of Tax Liability	Penalty
Decrease Of CST	Advance Tax
Decrease Of CST	Rebate
Decrease of Output Tax	Adjustment Against Tax Liability On Subsequent Sales