You can create a journal voucher to account for the opening balance of purchase tax for Karnataka VAT.
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
Note: You can create a journal voucher from Gateway of Tally > Display > Statutory Reports > VAT > select the VAT form.
2. Click J : Stat Adjustment to enable the required options in Stat Adjustment Details screen.
● In the Stat Adjustment Details screen,
o Select the option VAT in the Type of duty/tax field.
o Select the option Opening Balance of Purchase Tax in the Nature of adjustment field.
o Press Enter to save and return to the voucher screen.
3. Debit the VAT ledger.
o Enter the Rate and Assessable Value in the VAT Details screen.
o Press Enter to return to voucher screen.
4. Credit the ledger grouped under Current Assets .
5. Enter Narration , if required. The journal voucher appears as shown below:
6. Press Enter to save.