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Accounting Sales Returns [TCS] in Tally.ERP 9

In F11:  Accounting Features:

  1. Set Use Debit/Credit Notes to Yes.

  2. Set Use Invoice mode for Credit Notes to Yes.

To create Credit Note:

Go to Gateway of Tally > Accounting Vouchers > Ctrl + F8: Credit Note

  1. Press Alt+I for Item Invoice mode.

  2. Enter the date and reference.

  3. In Used for field, from the list  VAT Adjustments select Goods sold returned option.

 
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  1. Select the Party from the List of Ledger Accounts in Party’s A/c Name.

  2. Select Sales Ledger from the List of Ledger Accounts.

  3. VAT/Tax Class field gets updated as per the VAT/Tax Class selected during Sales ledger Creation.

  4. Select the Stock Item from the List of Items in Name of Item.

  5. Enter the Quantity returned and the Rate to get the amount in the Amount field.

  6. Select the Output VAT ledger from the List of Ledger Accounts.

  7. Select the TCS ledger from the List of Ledger Accounts and press enter to view TCS Details screen.

  8. In the TCS Details screen, by default the accumulated amount of Item Value and VAT Amount is picked and displayed as the Gross Amount (can be changed if required). Income Tax is calculated at prescribed rate on the Gross amount.

  9. In TCS - Bill-wise Details for: TCS @ 2.5% section, in Type of Ref field select Against Ref and select the Bill against which the customer has returned the goods.

 
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Note: To calculate TCS on Gross Amount (Item value and output VAT), ensure the option Calculate Tax on current Sub-Total is set to Yes inF12: Configuration (Sales Invoice Configuration).

  1. In the Bill-wise Details screen adjust the sales returns, against the sales bill dated 19-4-2008.

 
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  1. Enter Narration, if required.

 
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  1. Press Enter to accept and save.

 
 
 
 
Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
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