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Using Inclusive of Tax Voucher Class for Calculation

Voucher class can be used to automatically apply GST in transactions. You can create inclusive of tax voucher class as well as that for exclusive of tax. The value of additional ledgers in the transaction should be included in the taxable value for calculating tax, which can also be automated using voucher class.

By creating voucher class with default tax ledgers and percentages, the errors that may arise due to the selection of wrong tax ledgers in the transactions can be avoided. It also reduces the time of voucher creation.

Inclusive of Tax Voucher Class

In an inclusive of tax voucher class, the tax amount is included in the sales value. Given below is the illustration of inclusive of tax voucher class under sales voucher type.

The sales ledger value and tax value are defined as percentage of the total sales value.

To create inclusive of tax voucher class

  1. Gateway of Tally > Alter > Voucher Types > type or select Sales > and press Enter.
    Alternatively, press Alt+G (Go To) >Alter Master > Voucher Types > type or select Sales > and press Enter.
  2. Specify the details of the class as below:
    Now pass a sales invoice using the voucher class created. The default account allocations selected in the voucher class will be automatically applied in the invoice. The invoice will not display the value of the default ledgers.

    The auto-calculated value for the default ledgers can be viewed in the alteration mode. Open the invoice in alteration mode, and press Enter from the field Amount.

Voucher Class Without Inclusive of Tax

In a tax-exclusive voucher class, sales ledger and tax ledger percentages are exclusively defined.

As in tax-inclusive voucher class, the tax values will be applied automatically in the invoice. There is no need to select the tax ledgers.

You can create multiple voucher class for different tax rates or tax types depending on your requirement.

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