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Set Up Sales and Purchase Accounts in Tally e-Billing

Create sales and purchase accounts and define the applicable taxation details, VAT rates, and nature of transactions for your business. Let’s see how to create a sales account.

1. From Gateway > click Chart of Accounts > click Accounting Masters > and then click Accounts.
2. In the Account screen, click Create.
3. In the Create Ledger screen, enter the Basic Details.
   
   
   1. Enter the Name of the sales account and Alias, if any.
   2. For Group, select Sales Accounts.
   3. Enter Description, if any.
4. Enter the Taxation details.
   
   
   1. Select the required Taxation Type, such as Taxable, Exempt, and Zero-Rated.
   2. Enter the VAT Rate (%), if you have selected Taxation Type as Taxable.
   3. Select the VAT Rate Effective Date.
   4. Select the Nature of Transaction, such as Domestic Taxable Supplies, Exports, Zero-Rated, or Exempt.
5. Click Save.

Similarly, you can create purchase account under Purchase Accounts.