Creating Party Ledger (TCS)

You can create a ledger for your customers under sundry debtors and also set their TCS details.

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.

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.

13. Enter the PAN under Tax Information .

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

The Ledger Creation screen appears as shown below:

15. Press Ctrl + A to save the details.

For more configurations, click here .

In the text file generated as per File Validation Utility (FVU) version 5.6, the letter C appears as remarks when transactions are recorded for all TCS natures when the party PAN is entered as:

PANAPPLIED

PANINVALID

PANNOTAVBL