To adjust for Refund Order, the Nature of Adjustment, Reduction Tax Liability is selected in the journal voucher with relevant additional details.
To account for refund order adjustment
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 VAT ledger, and enter the tax amount. Enter the tax Rate and Assessable Value in VAT Details screen.
4. Credit the ledger grouped under Current Assets ledger.
5. Set the option Provide VAT Details? to Yes.
o Select the RAO Type, enter the RAO Book No. and Date as shown below:
Note: If the RAO Type is selected as Online, cursor skips the field RAO Book No.
o Press Enter to return to journal voucher.
The journal voucher appears as shown below:
6. Press Enter to save.