Professional Documents
Culture Documents
05 April 2010
DISCLAIMER
THE VIEWS EXPRESSED IN THE DOCUMENT ARE AUTHORS PERSONAL OPINION AND THE AUTHOR IS NOT RESPONSIBLE.
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Table of Contents 1 2 3 4 5 6 7 8 9 INTRODUCTION ........................................................................................... 4 TO KNOW THE CURRENT STATUS ........................................................... 5 TO DOWNLOAD LATEST VERSION & STATUTORY RELEASE ............... 6 CREATING NEW LEDGERS ........................................................................ 7 CHANGES IN STOCK ITEM ....................................................................... 10 CHANGES IN THE VOUCHER CLASS (IF ANY) ....................................... 13 CUSTOMIZATIONS .................................................................................... 19 SPLITTING OF COMPANY ......................................................................... 20 ABOUT WINJIT TECHNOLOGIES PVT. LTD. ........................................... 21
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1 Introduction
As everyone knows, there are number of activities to be carried out due to changes in the VAT Rates every year in Tally.ERP9.
There are certain procedures, reports available in Tally.Erp9 which will ease the process & save the time. The following document takes into account the changes in VAT Rates of Certain Commodities w.e.f. 01.04.2010. The relevant Notification can be downloaded from www.mahavat.gov.in.
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In the bottom part of Tally.ERP9, we know the status of our Release & Stat file installed on our computer. If connected to the internet, Tally will display information of the latest available release as compared to the installed one.
Latest Version is 1.61 & Stat 108. Along with the release Tally.ERP9 is also having Release notes from which we can know the changes done by Tally.ERP9 in statutory masters. Ensure that Tally.Net subscription is not expired.
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Output VAT 5%
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Input VAT 5%
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For Advance settings press F12 (Configuration Button on right hand side) Make the suitable changes
Set/ Modify default ledgers for invoicing (make sure that in company Features F11- Inventory menu, allow invoicing is set to yes) Here we can set default ledgers for purchase & sale of the selected item
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Example:
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Person making the classes should have thorough understanding of the structure to be defined & its accounting implications
Gateway of Tally -> Accounts Info -> Voucher Type >Alter ->Sales
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From above we are making class of Tax Invoice (We can make as number of classes as we can). It should be understood that classes should be defined for the fixed structure entries only. (e.g. Sales)
Exclude the Groups We can customized our selection by excluding certain groups that means ledgers under the selected group will not be prompt at the time of entering the voucher (in our example sales)
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Tally.ERP9 VAT Rate Change Process Default Accounting Allocations for Items Here we can define the allocation i.e. ledger to be selected for the stock item e.g. for Sales we can select sales 12.5%
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VAT Class The default class for Sales Ledger e.g. Sales 12.5%
Percentage If there is certain percentage of allocation to single item, we can define that here only. This is helpful for the clients who are used to bill at the inclusive rates. E.g. if any organization is selling its items having 12.5% rate & normally bills at inclusive rates, can set allocation percentage as Sales Ledger 12.5% -> 88.88%
Override using item defaults As explained in the above topic of Stock Item Settings, Tally has given feature to make default allocations of Items e.g. after selecting a particular item at purchase or sales voucher default accounting allocation will be done as per the settings in masters.
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This is also very helpful feature of tally, because we need not have to think of accounting allocations at the time of entry (generally when stock items are more or sales entries are done by operators etc. this feature is very helpful) If we set the option as YES then tally will make accounting allocation as defined for the stock item.
e.g. though we are setting sales for sales 12.5% in the above screen as accounting allocations, but if we are having item of 4% & default allocation is set for the stock item, by setting Override item Defaults as Yes , Accounting will be done as Sales 4% only (and not as Sales 12.5%)
Ledger Names In this screen we have to define the ledgers to be selected at the time of entering the sales vouchers & the calculation thereof. E.g. VAT Ledgers, Excise Ledgers, Packing Charges, Transportation, Rounding off, etc. After selecting the ledger Tally.ERP9 will prompt for calculation type
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Then we will have to select rounding up method & whether to show zero values or not.
At the time of making the entries the screen for sales voucher after selecting appropriate class will be as shown below
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After entering the values of Items Selected, Quantity, Rate etc. cursor will not move to the filed for which we have set the calculation methods in the class definition.
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7 Customizations
If we are having any customizations regarding the Sales, Purchases, Debit Notes, Credit Notes, etc. and after making the above changes documents are not printed / working as in the required formats means we will have to make some changes in the customized module. In such cases please contact Winjit Technologies Pvt Ltd on tally@winjit.com or 91-253-6633999
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8 Splitting Of Company
As the VAT rate changes are w.e.f. 01.04.2010, if needs (generally if we are not going to pass to many entries up to 31.03.2010), we can split the existing company & make the suitable change as explained in above topics.
For splitting company please refer to our document on Year End Procedures
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management systems, quality assurance processes have helped deliver quality solutions on time, and more importantly within budgets. We have adequate Quality management systems which help the organisation in organised processes and delivering value to its customers. So we have basically a process-driven architecture for entire project lifecycle.
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