Thursday, May 16, 2013

How to Enter Journal Vouchers in Tally for TDS

TUTORIAL -  JOURNAL VOUCHER ENTRIES IN TALLY
FOR TDS

Transactions
1) 01.05.2013: XYZ Company received a bill from M/s.Indian Shipping services pvt ltd., for 100,000 towards C&F Charges.
2) 02.05.2013: XYZ Company received a bill from M/s.B.M.Shipping Services LTd., for Rs.80,000 towards C&F Charges.
3) 03.05.2013: XYZ Company received a bill from Mr.A.Kumar for Rs.60,000 towards sales commission charges.
4) 06.05.2013: XYZ Company received a bill from M/s.P.V.Rao & Co. Ltd., for Rs.89,000 towards Consultant Charges.
5) 06.05.2013: XYZ Company received a bill from M/s.Reliance Financial services Ltd., for Rs.96,000 towards interest charges.
6) 08.05.2013: XYZ Company received a bill from M/s.Kanna Financial services pvt ltd., for Rs.38,000 towards Interest charges.
7) 09.05.2013: XYZ Company received a bill from M/s.Rock Financial services pvt ltd., for Rs.45,000 towards Interest charges.
8) 10.05.2013: XYZ Company received a bill from Mr.K.Sundar for Rs.99,000 towards commission charges.
9) 11.05.2013: XYZ Company received a bill from M/s.C.P.chartered services pvt ltd.,for Rs.52,000 towards Consultant charges.

Note: You Must use Tally new version to enable Quick setup option. (Otherwise upgrade your Tally version)
-> From the Gateway of Tally, Click on Accounting Vouchers (Shortcut Key "V")
-> Click on F7 to select Journal Voucher
-> Click on F2 to select Date, Enter Transaction date.

Transaction No: 1
Dr. C&F Charges. Rs.100,000.
Cr. Indian Shipping Services Pvt Ltd., 98,000.
Cr. TDS on C&F Charges. Rs.2,000.

Routing:
-> In Debit field select C&F charges from the List of Ledger Accounts.
-> Enter total Expenditure (Rs.100,000) in the Amount field. Now you can view TDS Nature of payment Details.
-> Select Payment to Sub-Contractors., Enter Assessable Value Rs.100,000/-


 
 

 



 -> In the Credit field  select " Indian Shipping services pvt ltd., "and press enter to view TDS Details screen.
-> Select New Ref from the Method of Adjustment.
-> * Just keep default ref Name (Eg: Jrnl/6-1),
-> ** Select Payment to Sub-Contractors from the List of Nature of  Payments.
-> Select TDS on C&F Charges from the list of TDS Duty Ledgers. 
-> Tally defaults the amount specified against the expenses ledger and skips the field.
-> User can set this field to Yes or No depending on the tax deduction.
-> TDS Amount field displays deducted amount & Payable Amount field displays the amount (after  TDS).
-> Press Ctrl+A / Enter.
 
* Tally.ERP 9 displays the reference number, which is a combination of abbreviation of Journal and Voucher Number and number of references used in TDS Details (example: Jrnl / 6-1) which can be changed by the user example. TDS payments are tracked with these Reference Numbers.

 **The List of Nature of Pymt(s) displays only that Nature of Payment which is specific to the Expenses Ledgers, selected in the transaction.

 
 
 

-> In the Bill wise details screen, Select New Ref as the Type of Ref;
-> In the Name field enter the Bill name as Bill No.8.
-> Skip the Due Date or Credit Days field.
-> Accept the default amount allocation and Dr/Cr. By default Tally.ERP 9 displays the Bill amount in the amount field as the credit balance. 
-> Press Enter, select New Ref as Type of Ref and Enter Bill name as Bill No.8.
-> Skip the Due Date or Credit Days field and accept the default amount allocation and Dr/Cr. By default  Tally.ERP 9 displays the Tax amount in the amount field as the debit balance.
 

-> Credit " TDS on C&F Charges", Enter Rs.2000
-> Write Narration.
-> Press "Ctrl + A" / Enter to save the voucher.

 In the same enter all Journal Vouchers


Transaction No: 2

Transaction No: 3

Transaction No: 4

Transaction No: 5

Transaction No: 6

Transaction No: 7

Transaction No: 8

Transaction No: 9 



 
Best Regards
G.S.VASU

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