Increase in Tax Liability (Rajasthan)

To record interest amount incurred, you can create a journal voucher for the Increase of Tax Liability.

To create a Journal voucher for interest payable

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

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

3.     Debit the expense ledger and enter the amount.

4.     Credit the ledger grouped under Current Liabilities.

The journal voucher appears as shown below:

5.     Press Enter to save.