Creating Purchase and Sales Ledgers (Odisha)

A common purchase/sales ledger for all types of purchases/sales without defining tax details in the purchase or sales ledger master. Separate ledgers to define different tax rates in the purchase and sales ledger masters.

On this page:

Purchase Ledger

Sales Ledger

You can create:

A common purchase/sales ledger for all types of purchases/sales without defining tax details in the purchase or sales ledger master.

Separate ledgers to define different tax rates in the purchase and sales ledger masters.

Purchase Ledger

To create a common purchase ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the purchase ledger.

3. Select Purchase Accounts in the Under field.

4. Set the option Inventory values are affected? to Yes .

5. Set Is VAT/CST Applicable? to Applicable .

6. Press Enter to skip the field Set/Alter VAT Details? .

The Ledger Creation screen is displayed as shown below:

7. Press Enter to save.

To create a ledger defined with Nature of Transaction and tax rate

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the purchase ledger.

3. Select Purchase Accounts in the Under field.

4. Set the option Inventory values are affected? to Yes .

5. Set Is VAT/CST Applicable? to Applicable .

6. Enable the option Set/alter VAT Details?

7. Click F12: Configure to enable additional details.

8. Set the Classification option in VAT Details screen to:

o Undefined if unique tax rate and commodity details have to be defined.

o Any of the user-defined Classification . Once it is applied, rest of the options disappear and cursor returns to Ledger Creation screen. Click here to view the detailed procedure of creating VAT Classifications .

9. Select the Nature of Transaction .

10. Specify the Commodity name , Commodity code , and Reporting UoM in the Other Info section.

11. Enter the Tax rate , and Tax type .

The VAT Details screen appears as shown below:

12. Press Ctrl+A to accept.

Sales Ledger

To create a common sales ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the sales ledger.

3. Select Sales Accounts in the Under field.

4. Set Inventory values are affected? to Yes .

5. Set Is VAT/CST Applicable? to Applicable .

6. Press Enter to skip the field Set/Alter VAT Details? The Ledger Creation screen appears as shown below:

7. Press Enter to save.

To create a ledger defined with nature of transaction, commodity details, and tax rate

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the sales ledger.

3. Select Sales Accounts in the Under field.

4. Set Inventory values are affected to Yes .

5. Set Is VAT/CST Applicable to Applicable ..

6. Enable the option Set/Alter VAT Details? .

7. Select the required Classification in VAT Details screen.

8. Press Ctrl+A to accept.

Selection of Entity Type in Sales Ledger

To select the entity type

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the ledger.

3. Select any of the following groups, in the Under field:

4. Set the option Is VAT/CST Applicable? to Applicable .

5. Enable the option Set/Alter VAT Details? .

6. Press Ctrl+A to accept.