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How to set up Service tax duty ledger in Tally.erp 9

As we have seen that service tax module in tally.erp 9 release 1.8  has been completely re written and it is giving a perfect solutions to service tax requirement of any enterprise.

However, one need to renew tally.net license to download the latest release 1.8 of tally.erp 9 as the new service tax module is available only with release 1.8 and above.

Company Creation

Go to Gateway of Tally > Alt + F3 > Create Company

  • Enter Company details such as Mailing details.
  • Select the Country from the List of Countries under the field, Statutory Compliance for.

Enabling Service Tax in F11 Features

Go to Gateway of Tally > F11: Features > Statutory & Taxation

  1. Set Enable Service Tax to Yes
  2. Enable Set/Alter Service Tax Details to Yes to view Company Service tax Details screen

  1. In Company Service Tax Details Screen
  2. In Service Tax Registration No. field enter
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SBI Cheque Printing in tally.erp 9

Some times back, I have written about cheque printing of Axis bank, ICICI bank and Standard chartered bank. Normally the dimensions given in the 3 Articles are enough for any one to go for cheque printing configuration of other bank.

I am very much happy to let you know that Delhi based one of tallynine reader and Customer of I Vision Info tech (Authorised tally Service Partner) had successfully set dimensions for SBI and Syndicate bank in tally.erp 9 by going through the articles referred above and a little help for the author on Gtalk. If you need our live help for any of query related to tally.erp 9 or accounts, you may also contact us on Gtalk (mkr2005), yahoo messenger (oz021) or may contact us officially from your tally.erp 9 software itself.

Here is the cheque printing dimension for SBI cheque in tally.erp 9

I am sure, tally users

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Forms & Due Dates for ETDS Return

Sometimes back, I have write about faq on etds.

It is important to understand various forms and due date for filling purpose to NSDL for ETDS return.

Uploading ETDS return on NSDL server is mandatory for all type of assesses. Tally.erp 9 support generating of ETDS return for 26Q and form no. 27 which can be directly uploaded to NSDL server after verification of file through file verification utility.However for this purpose, one need to make proper entries in tally.erp 9 for TDS

The Income Tax department has now notified ‘Electronic Filing of Returns of Tax Deducted at Source Scheme, 2003’. It is applicable to all deduct or’s furnishing their TDS return in electronic form. As per this scheme,

  • It is mandatory  for corporate dedicators to furnish their TDS returns in electronic form (e-TDS return) with effect from June 1, 2003.
  • For government deductees or’s it is mandatory to
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How to create excise duty ledger in tally.erp 9?

Sometimes back I have write about auto duty calculation voucher class creation to avoid any mistake while posting sales and purchase register. The Auto duty calculation voucher class also help you for speedy entry and protect you to enter any wrong entry or select wrong accounting head.

To create an auto duty calculation voucher class, The user is also required to create an item ledger with duty details otherwise the auto duty calculation voucher class will not work. Further user must create excise duty ledger correctly in tally.erp 9 otherwise no use of auto duty calculation voucher class

Many tally users are not aware  the right path for creating excise duty ledger in Tally.erp 9. Some accountant creates an excise duty ledger under purchase or sales group which is totally wrong treatment.

Creating excise duty in tally.erp 9 under duties and taxes is the correct path if are you serious about accounting

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How to Set Credit Limit in Tally.erp 9

Tally.erp 9 offers some great features one of them is setting up credit limit for suppliers and customers ledger account

Tally.erp 9 allows you to set a credit limit in terms of period as well as monetary terms.

Follow this step by step procedure to set credit limit in tally.erp 9 for your suppliers as well as customers

Go to main menu of tally.erp 9 press F11

select Accounting feature, under Budgets and Scenario management,

Set maintain budgets and control to yes and accept the screen

Now, Go to Any supplier or customer ledger account(Alteration Mode) for which you want to set the credit limit

set credit period and credit limit for the supplier/customer ledger account.

Accept the Screen.

Now after setting this limit,whenever you try to post a purchase/sales transaction in related supplier/customer ledger account,tally.erp 9 will display a warning message and you will not be able to post

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Data split in tally|Think for due date while posting entries in tally

Data splitting in tally is very necessary upon completion of the financial year.Data splitting means separation of two financial year of the company data. Data spiting help you to avoid creating a new company for every financial year. If you create a new company for the new financial year, then you will have to go a long way e.g. creating all the new ledger, grouping, opening balances sheet further, there will not be consistency in the financial reports. So, the best solutions is to split your data between two difference year. It will also speed up your tally software and it will require less MB spaces.

Recently one tally nine reader Ms.Shakuntala, raised a problem while she was trying to split the company for the new financial year starting from 1st April, 2010. When she try to split the data, she was facing an error namely incorrect due date for

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Create an item ledger with excise and vat

Last time I have written about how to create a voucher class for auto duty calculation.  Voucher class in tally.erp 9 help to prevent error in accounting vouchers and calculate duty automatically. Also it will protect you selecting a wrong accounting head for your entry.Creating a voucher class is not the final or single step. For using voucher class for auto duty calculation, one need to do some basic set up in the accounting data. Today, we will see how to create an item ledger account with excise and vat details. You should also read creating a payment voucher class for better understanding to know how voucher class in tally works out.

Creating an item ledger with excise and vat is very necessary to utilise tally.erp 9’s full feature and to get  perfect reporting for Cenvat, ER1 or 3, PLA vat etc.

First of all, you can’t use auto duty

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Professional tax in tally|how to account

Map of Gujarat
Image via Wikipedia

Sometimes back, I have written  about journal entries for payroll processing for an easy understanding of payroll today i will explain you to understand professional tax and how to account the same in books of account.

Professional tax is a tax on employment or on business. To collect revenue from the public government impose various kind of taxes on citizens like excise duty, vat,CST,income tax, TDS and in the same way, professional tax is such a source of income for government. Professional tax is levied by state in which your business is situated and registered under that state’s vat act.As a businessman or an accountant you must be familiar with applicable business laws and act like provident fund, professional fund. Any breach on account of commercial law may put your business in trouble. A proper accounting of taxation is of the same important as timely deduction and

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Short cut keys in tally

A Control key (marked "Ctrl") on a m...
Image via Wikipedia

Sometimes ago,  I have write about tips and tricks in tally. Today we will learn about various short cut keys available in tally. Short cut keys help to save our time and speed up work so an active user of tally, you must be familiar with such short cut keys in tally.erp 9.

Most short cut keys are self explanatory, however i have written a bit more information wherever it is required for a newbie to understand it much better.

To Duplicate a voucher

Go to  List of Vouchers

Press ALT + 2

It will create a voucher similar to the one where you positioned the cursor and used this key combination. Now you can post a duplicate voucher or can modify amount of new voucher. This short cut help is posting new entries for similar heads of account with different amount . Say when you have

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Contra entry in tally how to deal?

Dealing with contra entry in tally is very easy. you may use F4 or press contra from the voucher entry screen. Read more about debit and credit rules for better understanding of debit and credit accounting heads

As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Cash A/c to another (e.g. main cash to petty cash )or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from.

  • Cash account to Cash account
  • Cash account to Bank account
  • Bank account to Cash account
  • Bank account to Bank account

For contra transactions or for any other transactions if you don’t know which account should be debited and which account should credited then you should read basic rules of accounting entries and basics of accounting.

To view the Contra Voucher Entry Screen:

Go to Gateway of Tally > Accounting

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