Valid from Release 6 to 6.0.2
You can record advance payments made to registered or unregistered dealers in a payment voucher.
To record a payment voucher for advance payment
1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment.
2. Click V: Reverse Chrg. Adv. to mark the voucher for advance payment. The values entered in this voucher are captured in GSTR-2 report.
Note: Payment vouchers recorded without clicking V: Reverse Chrg. Adv. will not have GST implications, and will form part of the Summary of Excluded Vouchers.
3. Account: Select the bank from which the payment will be made.
4. Select the party ledger and enter the details in the Advance Payment Details screen.
● If the stock item attracts reverse charge, select the stock item configured for reverse charge.
● If the stock item being purchased from unregistered dealer does not attract reverse charge, do not configure the stock item for reverse charge. Select the ledger configured for reverse charge in the Advance Payment Details screen.
Note: To categorise and display the stock items or ledgers attracting reverse charge in the Advance Payment Details screen, set the option Enable reverse charge calculation? to Yes in the Configuration screen of GST Details screen (displayed on enabling the option Set/alter GST details? in the stock item or ledger master).
5. Press Ctrl+A to save the Advance Payment Details screen.
6. Select the type of reference as Advance and enter the reference details in the Bill-wise Details screen.
7. Enter the details in the Bank Allocations screen.
8. Press Enter to save.
Accounting for Inward Supply from Unregistered Dealers (GST - Purchases)
Accounting for Inward Supply of Services Under Reverse Charge (GST - Purchase)
