Create CST Sales Transactions

 Create CST Sales Transactions

To Create accounting entry for CST,

Go to Gateway of Tally Accounting Vouchers > F8: Sales

Specify the required information

Save screen

View CST Report 

To view CST Reports, follow the steps given below:

Go to Gateway of Tally > Display > Statutory Reports CST Reports > Forms Receivables > Group/Ledger

FORMS RECEIVABLE REPORT - GROUPIES

FORMS RECEIVABLE - LEDGER WISHES REPORT 

Service Tax

Tally ERP 9 tracks bill-wise (bill-by-bill) details and automatically calculates Service Tax payable and Input Service Tax Credit on each service bill. It also allows you the flexibility to make adjustments later.

Tally ERP 9 contains statutory masters predefined with Service Tax rates and abatements for each taxable service With the help of Tally ERP 9, you can adjust input credit against the service tax payable and account for abatements/expenses and also specify exemption notification details. It also facilitates generation and printing of Service Tax related reports, forms and challans in the prescribed formats (viz., GAR 7 Challans and ST-3 Challans)

Enable Service Tax

To activate Service Tax in Tally ERP 9, follow the steps given below:

Go to Gateway of Tally F11: Features F3: Statutory & Taxation

Set Enable Service Tax to Yes

Enable Set/Alter Service Tax details to Yes

Press Enter, the Service Tax Details screen appears

Type all details in Company Service Tax Details

Save screen

Create Service Tax Ledger Masters

Service affects those services that have been notified by the Government on input and output services, create input and output service tax ledgers

To create Service Tax Ledger Masters in Tally ERP 9, follow the steps given below:

Go to Gateway of Tally > Accounts Info. Create

Type the Name of the Ledger

Select the required Group

Select the Type of Duty/Tax as Service Tax

Select the required Service Tax Category from the list of Service Tax Categories in the Category Name field

Create Service Tax Transactions

To create Service Tax transactions in Tally ERP 9, follow the steps given below:

Go to Gateway of Tally Accounting Vouchers > F8: Sales/F9: Purchase

Select the Party's Name

Select the Service and value of Services rendered

Select Service Tax Ledger, the rate of service tax and the service tax amount is prefilled automatically

Save screen 

Print Service Tax Invoice

To print Sales Involce for Services rendered in Tally ERP 9, follow the steps given below:

Press Pg Up from the above screen

Press Alt + P, the Voucher Printing Screen appears

Specify required details in Voucher Printing screen

Press Enter to Print

Receipt of Payments 

To record receipts for Services rendered, follow the steps given below:

Go to Gateway of Tally Accounting Vouchers > F6: Receipt

Select the Bank Ledger in the Account field

Select the Party details

Select the relevant Service Tax Category in the Service Tax Ledger field of Bill wise Allocations for screen and press Enter

Save screen

Service Tax Abatement facility

Tally ERP 9 allows you to account for applicable abatements for respective taxable services. You can avail abatement against the output tax payable for a given period. In Tally ERP 9, the details of abatements are available in the statutory masters containing the taxable services.

To view Service Categories,

Go to Gateway of Tally > Display > Statutory Info. >

Payment of Service Tax

The Service Tax has to be paid to the credit of the Central Government by the 5th of the month immediately following the calendar month in which the payments are received, towards the value of the taxable services. The Service Tax Payments are required to be paid in GAR-7 Challan, Tally ERP provides the facility to generate GAR-7 with the required information.

To make payments for Service Tax,

Go to Gateway of Tally > Accounting Vouchers > F5: Payment

Select the Bank Ledger in the Account field

Select the Output Service Tax Ledger

Set Provide Details to Yes and specify the Payment Details

Print GAR 7-Challan

To generate GAR 7 Challan for payment of Service Tax,

Press Pg Up from the above screen

Press Alt + P. the Voucher Printing appears

In the Voucher Printing screen, ensure Print GAR-7 Challan option is set to Yes

Press Enter to Print

View Service Tax Reports

According to Service Tax Rules, every registered service provider is required to maintain proper Books of Accounts and Records for all input services consumed and output services provided by them during the specified period. In Tally ERP 9, the following Service Tax reports are available:

Service Tax Payables

Input Credit Form

ST3 Report

To view Service Tax Reports, follow the steps given below:

Go to Gateway of Tally > Display > Statutory Reports > Service Tax Reports

The Service Tax Payable Report delivers information on total value of taxable services rendered and realised during the given period. It provides party-wise and category-wise tax obligation of the assessee for the particular period. You can generate the service tax payable report to know the Service Tax liability before adjustment.

Go to Gateway of Tally > Display Statutory Reports > Service Tax Reports > Service Tax Payables

To view the Service Tax Payable Report in detailed mode, press Alt+F1

Input Credit Form

If the assessee has availed credit of Service Tax, he/she is required to furnish a return in proforma in terms of rule 5(4) of the service tax credit rules, along with his half yearly return. If the input credit is in excess of output service tax payable during a particular month or quarter, the surplus is transferred to the next period and is available for set off during that month or quarter, as the case may be

To view Input Credit Form,

Go to Gateway of Tally > Display > Statutory Reports > Service Tax Reports Input Credit Form

Print ST 3 Half Yearly Return

According to Service Tax Rules, an assessee is required to submit half-yearly return in Form ST-3 within 25 days of the end of the half-year. Tally ERP 9 facilitates the generation of half-yearly ST-3 Challans in the manner as prescribed under Rule 7 of the Service Tax rules 1994.

To view the ST 3 half-yearly return

Go to Gateway of Tally > Display > Statutory Reports > Service Tax Reports > ST3 Report

In the Printing screen,

Specify April-September in the Period for field

Type Place and Date details

Tax Deducted at Source (TDS)

Tax Deducted at Source is one of the modes of collecting Income Tax from the taxpayers as per the rates mentioned under IT Act and Rules. The deductor of the Tax (TDS) deducts the tax from the deductee, on payment of specified Incomes and deposits the same to the credit of Central Government within the specified period alongwith the challan in prescribed format.

Tally ERP 9's TDS feature is designed to handle all your TDS requirements easily and with complete flexibility It allows you to configure the TDS ledgers, by specifying the nature of payments and type of assessee along with the TDS rates.

With the help of Tally ERP 9, you can generate and file Quarterly/Monthly Returns, Challans viz., Form16A and Certificates in prescribed formats. You can also generate e-TDS and file in NSDL compatible formats.

Activate Tax Deducted at Source (TDS)

To activate TDS in Tally ERP 9, follow the steps given below:

Go to Gateway of Tally F11: Features > F3: Statutory & Taxation

Set Enable Tax Deducted at Source to Yes

Enable Set/Alter TDS details to Yes

The Company TDS Deductor Details appears

Specify the TAN Number, IT Circle, Deductee Type and other details

Save screen

Specify PAN/Income Tax No.

Save F11: Statutory & Taxation screen

View Deductee Types:

To view Deductee Types predefined in Tally ERP 9,

Go to Gateway of Tally Display Statutory Info. > Deductee Types

Select the Deductee Type (For e.g., select Company Resident), from the List of Deductee Types

View TDS Nature of Payments

To view TDS Nature of Payment masters predefined in Tally ERP 9,

Go to Gateway of Tally > Display > Statutory Info > TDS Nature of Payment

➤ Select any type from the list of TDS Nature of Payments to go to TDS Nature of Payment Display

Create TDS Ledgers

To create TDS ledgers in Tally. ERP 9, follow the steps given below:

Go to Gateway of Tally > Accounts Info. > Create

Type the Name of the Ledger

Select the required Group

Select the Type of Duty/Tax as TDS

Select the required Nature of Payment from the drop down lis

Enter other details and save the screen

Create TDS Transactions

To create transactions involving TDS, follow the steps given below:

Step 1: Booking of Expenses and TDS Deduction

Go to Gateway of Tally > Accounting Vouchers > F7: Journal

Select the Expenses Ledger and total amount in the Debit side

Select the Party Name and the amount in the Credit side

Press Enter, the TDS details screen appears

Press Enter to accept the Nature of Payment

Set Yes/No to Deduct TDS Now in the transaction or later

Select the TDS Ledger in the TDS Duty Ledger field

Press Enter to accept the screen

➤ Select TDS ledger and press Enter to accept the amount

➤ Save the screen

Step 2: Payments to Third Parties after TDS deduction

To account for payment made to party after deduction of TDS

Go to Gateway of Tally > Accounting Vouchers >

F5: Payment

Select Bank Ledger in the Account field

Select the Party Name and specify the amount

➤ Save the screen

TDS Deduction on Advance Payments

To deduct TDS on advance payments made to third parties, follow the steps given below

Go to Gateway of Tally Accounting Vouchers F5: Payment (As Voucher)

Select Party Name and specify the amount in the Debit side

Select the TDS ledger in the Credit Side and specify the Nature of Payment in the TDS Details screen

Select End of List and press Enter

Select the Cash/Bank Ledger in the Credit side

Save the screen

Deduction of TDS separately

If the expenses are booked on a earlier date and the TDS is required to be deducted at a later date, follow the steps given below:

Go to Gateway of Tally Accounting Vouchers > F7: Journal

Press Alt+S (TDS Deduction) and enter the following details

Specify the Till Date

Select the Party Details

Select Nature of Payment

Payment of TDS

Go to Gateway of Tally Accounting Vouchers > F5: Payment

Press Alt+S (TDS Helper) and enter the following details

Specify the Deducted Till Date

Select the Section under which deducted

Select Nature of Payment

Select the Deductee Status

Select the Cash/Bank Ledger

Set Provide Details to Yes and specify the Payment Details (Cheque/DD No. and Date etc.)

Print ITNS 281 Challan

To Print ITNS 281 challan, follow the steps

➤Press Pg Up from the above screen

➤Press Alt+P

➤In the Voucher Printing screen,

Set Print as TDS Challan to Yes

Specify the Filing Date

Press Enter to Print

View TDS Reports

Tally ERP 9 provides the following TDS Forms, Challans and Reports.

➤ TDS Computation

➤ TDS Challan Reconcilliation

➤ Quarterly eTDS Returns

Form 26Q

Annexure to 26Q

Form 27Q

Annexure to 27Q

➤ Annual eTDS Returns

Form 26

Annexure to 26

Form 27

Annexure to 27

➤ Outstandings

➤ Exception Reports

To view TDS Reports, follow the steps given below

Go to Gateway of Tally > Display > Statutory Reports > TDS Reports

The Form 16A issued to third party stating the deduction of TDS details appears as shown:

Similarly, you can generate eTDS Returns and TDS related reports.

Cost cente and cost category in Tally.ERP 9

The cost centre in Tally ERP 9 refers to an organizational unit to which costs or expenses can be allocated during transactions while the cost category is used to accumulate costs or profits for parallel sets of cost centres. For example, you can use cost centre to track expenses of each employee while cost category can be used to see the effectiveness of each project.

To use cost centre in Tally ERP 9, consider a Sales department in an organization which has 4 different Salesmen. To record their expenses and incomes, let's follow the steps below:

Enabling Cost Centre and Cost Category

Go to Gateway of Tally F11: Features F1: Accounting Features

Set maintain Cost Centres to Yes

Set more than ONE Payroll/ Cost Category to Yes

Creating Cost Categories

To group the salesmen under one Cost Category (one similar project):

Go to Gateway of Tally > Accounts Info. > Cost Categories > Select Create under Single Cost Centre

Enter Sales Project 1 in Name

Accept the screen

Creating Cost Centres

Each salesman is considered as a cost centre, so to create these:

Go to Gateway of Tally> Accounts Info. Cost Centres Select Create under Single Cost Centres

Select Sales Project 1 in Category

Enter Salesman 1 in Name and accept the screen

Similarly, you can create cost centres for other 3 salesmen.

Allocating Expenses to Cost Centres during Transaction

To allocate expermes to each cost centres while making payment for salesmer's expense (for eg. Conveyance)

Create a Conveyance ledger under Indirect Expense. Also note that 'Cost Centre is enabled by default.

To pass the payment transaction:

Go to Gateway of Tally Accounting Vouchers > F5: Payment

Debit the Conveyance ledger with the required amount

Press Enter to open Cost Allocation screen

Select the Sales Project 1 in Cost Category

Allocate each Salesman with the amount as shown:

Complete the Payment Voucher

Pre-Allocation of Costs

For faster entry you can pre-allocate cost centres by defining percentage in the Cost Centre Class. For example, if a salary of Rs 50, 000 is to be paid and distributed as 30% to Salesman 1, 25% to Salesman 2, 25% to Salesman 3 and 20% to Salesman 4. To do this:

Go to Gateway of Tally > F11: Accounting Features

➤ Set Use Pre-defined Cost Centre Allocations during Entry to Yes

➤ Press Enter

On the Auto-Cost Allocation screen,

➤ Enter the Class Name and press Enter

➤ Select the appropriate Cost Category and enter the required percentage

Now, let's use the Cost Centre Class in a transaction for paying salary to the salesmen.

To do this, let's first create a ledger Salary under Direct Expense and allocate all the cost centres (salesmen). To pass the transaction:

Go to Gateway of Tally > Accounting Vouchers > F5: Payment

Select Salary in Cost Centre/Classes

Complete the Payment Voucher

To view the break-up of the cost centres allocation, open the same Payment Voucher in alteration mode as shown:

Cost Centre Reports

For faster identification and detailed analysis of how costs are allocated to your business units, Tally ERP 9 provides reports to show complete details of all the cost centres and their related transactions in different ways. These reports are:

1. Category Summary

2. Cost Centre Break-up

3. Ledger Break-up

4. Group Break-up

For example, the Cost Category Summary report is shown below:

To view these cost centre reports:

Go to Gateway of Tally > Display > Statements of Accounts >Cost Centres

Hence, no matter how many business units you have to handle and optimize your profit, the cost centre and cost category in Tally ERP 9 can help you make faster decision for your business.

Company Merging and Splitting

The procedure to split data based on financial years is as follows:

Go to Gateway of Tally > F3: Cmp Info

1. Select Split Company Data.

The Split Company Data menu appears as:

2. Select the option Select Company

3. Select the required company whose data has to be split from the List of Companies.

4. Enter the required date from which you wish to split in the Split From field.

Tally ERP will create two separate companies suffixing each company with the date from which it has been split.

5. Accept to split the company data.

Tally recommends the Split from date to be based on the existing data. It is recommended that the Split from date is set as the beginning of the current financial year, even though Tally permits any date

It is advisable to take a backup of the original data on to another media before splitting the company.

Remove the company which contained three years data as you may accidentally use it for entering the current data.

The split occurs in a set of two periods. Hence, start to split the company with the latest period. E.g., the data is stored in the same company for a period of three years commencing rather than storing data in three separate companies. Initially the user has to split the company for two periods between 01/01/2011 and 31/12/2013 and the other part is split for the remaining period.

Two new companies will be created between the periods 01/01/2011 and 31/12/2012, and 01/01/2013 and 31/12/2013, Le, the historical data of one or more financial years will be preserved as one company and your current financial year as the other. There is normally no reason to split the prior years again into separate companies. In case

you wish to split the data for an earlier period, then repeat the above mentioned steps.

The user can display or print financial reports such as Trial Balance, Balance Sheet, Profit & Loss, Stock Summary etc., for each of the companies for the relevant periods and compare them for accuracy.

The user needs to alter the names of the two freshly created companies according to the requirement.

Split Data based on Financial Years

Storing data in the same company for a few years has a lot of advantages, even though the data size increases which in turn affects the overall performance of the computer. Tally ERP 9 allows the user to split the data based on financial years which will reduce the volume of the data, thereby reducing the load on the computer.

When the user splits the data based on different financial years, new companies are created for the respective split periods and the entire data is retained in the original company

Important pre-split activity

Before splitting the data the user must ensure that the following precautions are taken, failing which could result in mismatched information:

1. All unadjusted Forex Gains/Losses have been fully adjusted by journal entries. Verify that this item does not

2. There are no Purchase Bills Sales Bills due. Check the Profit & Loss Account and Inventory Statements-Purchase/Sales Bills Pending. The user has to account them to the respective party accounts or to respective Bills Pending Account.

3. Ensure that a backup of the data exists.

https://www.youtube.com/@KrishnaDubaiMotivation

https://www.facebook.com/share/1H9PPi8tMX/

https://www.instagram.com/officialkrishnadubai?igsh=MXY1eDJiY3owOGtiYQ==

https://wa.me/message/ONUZUUV4Q2YGO1

For corporate Inquiries:

Call Us: +91 9262835223