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Home GST GST in Tally Tally gst tally learning Part-1

gst tally learning Part-1


INDEX

1) VASU & CO CAPITAL, PURCHASE, SALES, RECEIPT AND PAYMENT DETAILS
2) HOW TO CREATE VASU  CO FIRM IN TALLY
3) STOCK GROUP CREATION
4) UNIT OF MEASURES CREATION
5) STOCK ITEM CREATION
6) LEDGERS CREATION
7) VOUCHER ENTRY

Name of Firm: VASU&CO

1) VASU & CO Transactions details for the month of Oct-17

  • Dt: 01.10.2017: VASU investment Rs.300,000 through cash.
  • Dt: 01.10.2017:  One Lenovo Laptop purchased from M/s.PRAKASH DISTRIBUTOS  @ 24,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 008/2017-18.
  • Dt:01.10.2017: One Lenovo Laptop Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 28,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 1
  • Dt: 02.10.2017:  One HP Laptop purchased from M/s.PRAKASH DISTRIBUTOS  @ 26,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 10/2017-18.
  • Dt:02.10.2017: One HP Laptop Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 30,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 2
  • Dt: 03.10.2017:  One Dell Laptop purchased from M/s.PRAKASH DISTRIBUTOS  @ 29,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 18/2017-18.
  • Dt:08.10.2017: One Dell Laptop Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 34,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 3
  • Dt: 09.10.2017:  One LENOVO DESKTOP purchased from M/s.PRAKASH DISTRIBUTOS  @ 22,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 22/2017-18.
  • Dt:10.10.2017: One LENOVO DESKTOP Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 25,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 4
  • Dt: 11.10.2017:  One HP DESKTOP purchased from M/s.PRAKASH DISTRIBUTOS  @ 23,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 28/2017-18.
  • Dt: 11.10.2017:  One DELL DESKTOP purchased from M/s.PRAKASH DISTRIBUTOS  @ 24,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 29/2017-18.
  • Dt:12.10.2017: One HP DESKTOP Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 26,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 5
  • Dt:12.10.2017: One DELL DESKTOP Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 27,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 6
  • Dt: 15.10.2017:  One SAMSUNG MOBILE  purchased from M/s.PRAKASH DISTRIBUTOS  @ 12,000 + GST 12%   (CGST 6% + SGST 6%)  vide Invoice No: 40/2017-18.
  • Dt:17.10.2017: One SAMSUNG MOBILE Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 15,000 + GST 12%   (CGST 6% + SGST 6 %), Vide Invoice No: 7
  • Dt: 18.10.2017:  Purchased Two LG MOBILES  @ 9,000 + GST 12%   (CGST 6% + SGST 6%)  & One MI Mobiles @ 8,000 + GST 12%   (CGST 6% + SGST 6%)   from M/s.PRAKASH DISTRIBUTOS  vide Invoice No: 48/2017-18.
  • Dt:20.10.2017: Sold Two LG MOBILE @ 11,000 + GST 12%   (CGST 6% + SGST 6 %)  & One MI Mobile @ 10,000 + GST 12% (CGST 6% + SGST 6%)  to M/s.SUNIL COMPUTER SERVICES (GST Dealer) Vide Invoice No: 8
  • Dt: 22.10.2017:  Cash Paid to  188,080 to M/s.PRAKASH DISTRIBUTOS  against Bill Nos: 008,10,18,22,28,29 and 40
  • On 23.10.2017 Vasu & Co Purchased the following stock items from M/s.PRAKASH DISTRIBUTOS  vide Invoice No: 52/2017-18.

  1. TWO HP DESKTOP  @ 23,000 + GST 18%   (CGST 9% + SGST 9%)
  2. ONE DELL DESKTOP  @ 24,000 + GST 18%   (CGST 9% + SGST 9%) 
  3. TWO LENOVO DESKTOP  @ 22,000 + GST 18%   (CGST 9% + SGST 9%)
  4. TWO LG MOBILES  @ 9,000 + GST 12%   (CGST 6% + SGST 6%)
  5. ONE SAMSUNG MOBILES  @ 12,000 + GST 12%   (CGST 6% + SGST 6%)
  6. TWO MI MOBILES  @ 8,000 + GST 12%   (CGST 6% + SGST 6%)

  • Dt: 27.10.2017:  Cash Received  200,600 from M/s.SUNIL COMPUTER SERVICES  against Bill Nos: 1 to 6
  • On 28.10.2017 Vasu & Co Sold the following stock items to M/s.MTC PVT LTD, Maharashtra vide Invoice No: 9/2017-18.

  1. TWO HP DESKTOP  @ 25,000 + IGST 18% 
  2. ONE DELL DESKTOP  @ 27,000 + IGST 18% 
  3. TWO LENOVO DESKTOP  @ 26,000 + IGST 18% 
  4. TWO LG MOBILES  @ 10,000 + IGST 12% 
  5. ONE SAMSUNG MOBILES  @ 14,000 + IGST 12% 
  6. TWO MI MOBILES  @ 9,000 + IGST 12% 

  • Dt: 28.10.2017:  Cash Received  Rs.52,640 from M/s.SUNIL COMPUTER SERVICES  against Bill Nos: 7 & 8
  • Dt: 28.10.2017: Cash Received Rs.212,820 from M/s.MTC PVT LTD against bill no: 9
  • Dt: 29.10.2017:  Cash Paid  Rs.215,160 to M/s.PRAKASH DISTRIBUTOS against Purchase Invoice Nos:  48 & 52
  • Dt: 30.10.2017:  One SEVEN HP DESKTOP purchased from M/s.Prakash Distributors  @ 23,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 60/2017-18.
  • Dt: 31.10.2017: Vasu & Co made the following payments
  1. Office Rent Paid  Rs.2000
  2. Salary Paid to Mr.Kishore. Rs.10,000
  3. Water Bill Paid: Rs. 200

For the Above transactions, you have to create the following FIRM, STOCK GROUPS, UNIT OF MEASURES, STOCK ITEMS AND  LEDGERS.

2) FIRM CREATION IN TALLY


3) CREATE GST STOCK GROUPS IN TALLY


4) CREATE GST UNIT OF MEASURE IN TALLY


5) STOCK ITEMS IN TALLY



DESKTOPS GROUPS

DELL DESKTOPS
HP DESKTOPS
LENOVO DESKTOPS



LAPTOPS GROUPS

DELL LAPTOPS
HP LAPTOPS
LENOVO LAPTOPS

MOBILES GROUPS

LG MOBILES
MI MOBILES
SAMSUNG MOBILES


gst stock group and stock items creation in tally



6) CREATE GST LEDGERS IN TALLY




Note:  By default Cash Ledger is created by Tally. So no need to create Cash Ledger.

7) VOUCHER ENTRY IN TALLY

7A)CAPITAL ENTRY IN TALLY



7B) GST PURCHASE ENTRY IN TALLY


Transaction 1
  • Purchase Transaction No- 1: Dt: 01.10.2017:  One Lenovo Laptop purchased from M/s.PRAKASH DISTRIBUTORS  @ 24,000 + GST 18%   (CGST 9% + SGST 9 %)  vide Invoice No: 008/2017-18.

> From Gateway of Tally Select Accounting Vouchers > F9: Purchases
> In the Accounting Voucher Creation Window fill the following information.
> Enter Supplier Invoice No and Date
> Party A/c name: Select: PRAKASH DISTRIBUTORS
> Purchase ledger: Select GST PURCHASES
> Name of Item: Select LENOVO LAPTOPS 
> Quantity: Enter 1
> Rate: Enter 24000
> Click Enter four Times
> Select: CGST  (Tally will display CGST Amount based on Stock Item)
> Select: SGST  (Tally will display SGST Amount based on Stock Item)
> Narration: Enter narration for your future reference. (Eg: Goods Received Date, Courier Name & Ref number etc.,)
> Click on Enter/Ctrl+A to save the Purchase Transaction.

In the same way enter, all Purchase Transactions. 

After entered the all above purchase transactions, verify Purchase Register to View Purchase Details

DATE
DESCRIPTION
QTY
UNIT PRICE
 TOTAL UNIT PRICE
 DEBIT AMOUNT
 CREDIT AMOUNT
01/10/2017
PRAKASH DISTRIBUTORS




          28,320
GST PURCHASES


 
            24,000

LENOVO LAPTOPS
1 Nos
24000.00/Nos
        24,000


CGST


 
               2,160

SGST


 
               2,160

02/10/2017
PRAKASH DISTRIBUTORS




          30,680
GST PURCHASES


 
            26,000

HP LAPTOPS
1 Nos
26000.00/Nos
        26,000


CGST


 
               2,340

SGST


 
               2,340

03/10/2017
PRAKASH DISTRIBUTORS




          34,220
GST PURCHASES


 
            29,000

DELL LAPTOPS
1 Nos
29000.00/Nos
        29,000


CGST


 
               2,610

SGST


 
               2,610

09/10/2017
PRAKASH DISTRIBUTORS




          25,960
GST PURCHASES


 
            22,000

LEVONO DESKTOPS
1 Nos
22000.00/Nos
        22,000


CGST


 
               1,980

SGST


 
               1,980

11/10/2017
PRAKASH DISTRIBUTORS




          27,140
GST PURCHASES


 
            23,000

HP DESKTOPS
1 Nos
23000.00/Nos
        23,000


CGST


 
               2,070

SGST


 
               2,070

11/10/2017
PRAKASH DISTRIBUTORS




          28,320
GST PURCHASES


 
            24,000

DELL DESKTOPS
1 Nos
24000.00/Nos
        24,000


CGST


 
               2,160

SGST


 
               2,160

15/10/2017
PRAKASH DISTRIBUTORS




          13,440
GST PURCHASES


 
            12,000

SAMSUNG MOBILES
1 Nos
12000.00/Nos
        12,000


CGST


 
                  720

SGST


 
                  720

18/10/2017
PRAKASH DISTRIBUTORS




          29,120
GST PURCHASES


 
            26,000

LG MOBILES
2 Nos
9000.00/Nos
        18,000


MI MOBILES
1 Nos
8000.00/Nos
          8,000


CGST


 
               1,560

SGST


 
               1,560

23/10/2017
PRAKASH DISTRIBUTORS




        186,040
GST PURCHASES


 
          160,000

HP DESKTOPS
2 Nos
23000.00/Nos
        46,000


DELL DESKTOPS
1 Nos
24000.00/Nos
        24,000


LEVONO DESKTOPS
2 Nos
22000.00/Nos
        44,000


LG MOBILES
2 Nos
9000.00/Nos
        18,000


SAMSUNG MOBILES
1 Nos
12000.00/Nos
        12,000


MI MOBILES
2 Nos
8000.00/Nos
        16,000


CGST


 
            13,020

SGST


 
            13,020

30/10/2017
PRAKASH DISTRIBUTORS
189,980
GST PURCHASES
161,000
HP DESKTOPS
7 Nos
23000.00/Nos
161,000
CGST
14,490
SGST
14,490
TOTAL PURCHASE VALUE

        5,93,220




7C) GST SALES ENTRY IN TALLY


Transaction 1
  • Dt:01.10.2017: One Lenovo Laptop Sold to M/s.SUNIL COMPUTER SERVICES (GST Dealer) @ 28,000 + GST 18%   (CGST 9% + SGST 9 %), Vide Invoice No: 1

> From Gateway of Tally Select Accounting Vouchers > F8: Sales
> In the Accounting Voucher Creation Window fill the following information.
> Party A/c name: Select SUNIL COMPUTER SERVICES
Check and Enter Customer Details (Eg: Enter Purchase order No, Date, Payment Terms and Check Customer Name, Address, Country, State & GST No) and Press Ctrl+A to save Customer details.
Hint: You Can edit Customer Details.
Note: Edited details not reflected in original Customer Ledger. This Edited detail is only affected by this Sales transactions.

> Sales ledger: Select GST SALES
> Name of Item: Select LENOVO LAPTOPS 
> Quantity: Enter 1
> Rate: Enter 28000
> Click Enter four Times
> Select: CGST  (Tally will display CGST Amount based on Stock Item)
> Select: SGST  (Tally will display SGST Amount based on Stock Item)

> Narration: Enter narration for your future reference. (Eg: Goods Received Date, Courier Name & Ref number etc.,)
> Click on Enter/Ctrl+A to save the Sales  Transaction.

In the same way enter, all Sales Transactions. 

After entered the all above purchase transactions, verify Sales Register to View Sales Details

DATE
DESCRIPTION
QTY
UNIT PRICE
 TOTAL UNIT PRICE
 DEBIT AMOUNT
 CREDIT AMOUNT
01/10/2017
SUNIL COMPUTER SERVICES



          33,040

GST SALES


 

            28,000
LENOVO LAPTOPS
1 Nos
28000.00/Nos
        28,000


CGST


 

              2,520
SGST


 

              2,520
02/10/2017
SUNIL COMPUTER SERVICES



          35,400

GST SALES


 

            30,000
HP LAPTOPS
1 Nos
30000.00/Nos
        30,000


CGST


 

              2,700
SGST


 

              2,700
08/10/2017
SUNIL COMPUTER SERVICES



          40,120

GST SALES


 

            34,000
DELL LAPTOPS
1 Nos
34000.00/Nos
        34,000


CGST


 

              3,060
SGST


 

              3,060
10/10/2017
SUNIL COMPUTER SERVICES



          29,500

GST SALES


 

            25,000
LEVONO DESKTOPS
1 Nos
25000.00/Nos
        25,000


CGST


 

              2,250
SGST


 

              2,250
12/10/2017
SUNIL COMPUTER SERVICES



          30,680

GST SALES


 

            26,000
HP DESKTOPS
1 Nos
26000.00/Nos
        26,000


CGST


 

              2,340
SGST


 

              2,340
12/10/2017
SUNIL COMPUTER SERVICES



          31,860

GST SALES


 

            27,000
DELL DESKTOPS
1 Nos
27000.00/Nos
        27,000


CGST


 

              2,430
SGST


 

              2,430
17/10/2017
SUNIL COMPUTER SERVICES



          16,800

GST SALES


 

            15,000
SAMSUNG MOBILES
1 Nos
15000.00/Nos
        15,000


CGST


 

                  900
SGST


 

                  900
20/10/2017
SUNIL COMPUTER SERVICES



          35,840

GST SALES


 

            32,000
LG MOBILES
2 Nos
11000.00/Nos
        22,000


MI MOBILES
1 Nos
10000.00/Nos
        10,000


CGST


 

              1,920
SGST


 

              1,920
28/10/2017
MTC PVT LTD



        212,820

GST SALES


 

          183,000
HP DESKTOPS
2 Nos
26000.00/Nos
        52,000


DELL DESKTOPS
1 Nos
27000.00/Nos
        27,000


LEVONO DESKTOPS
2 Nos
26000.00/Nos
        52,000


LG MOBILES
2 Nos
10000.00/Nos
        20,000


SAMSUNG MOBILES
1 Nos
14000.00/Nos
        14,000


MI MOBILES
2 Nos
9000.00/Nos
        18,000


IGST


 

            29,820
Total SALES
        466,060




7D) GST PAYMENT ENTRY IN TALLY


Transaction 1

  • Dt: 22.10.2017:  Cash Paid to  188,080 to M/s.PRAKASH DISTRIBUTORS  against Bill Nos: 008,10,18,22,28,29 and 40

> From Gateway of Tally Select Accounting Vouchers > F5: Payments
> Account: Select Cash
Tally Shows Available balance as on date of Payment Transaction. (In our Tutorial available cash balance is 300000)
> Particulars: Select PRAKASH DISTRIBUTORS
The tally shows Total Pending Amount as on date of Payment Transaction. (In our Tutorial PRAKASH DISTRIBUTORS Total Pending Amount is 217200)
> Enter Amount: 188080
> In the Bill-wise Details, Slect Agst Ref and select Bill Numbers (i.e:  008,10,18,22,28,29 and 40)
> Enter Narration and Press Ctrl+A to save Payment Voucher.

In the same way enter, all Payment Transactions. 

Date
Particulars
BILL DETAILS
 BILL AMOUNT
 DEBIT AMOUNT
 CREDIT AMOUNT
22/10/2017
PRAKASH DISTRIBUTORS

 
        188,080

Agst Ref
008/2017-18
          28,320


Agst Ref
10/2017-18
          30,680


Agst Ref
18/2017-18
          34,220


Agst Ref
22/2017-18
          25,960


Agst Ref
28/2017-18
          27,140


Agst Ref
29/2017-18
          28,320


Agst Ref
40/2017-18
          13,440


Cash

 

          188,080
29/10/2017
PRAKASH DISTRIBUTORS

 
        215,160

Agst Ref
48/2017-18
          29,120


Agst Ref
52/2017-18
        186,040


Cash

 

          215,160
31/10/2017
OFFICE RENT

 
            2,000

SALARIES

 
          10,000

OFFICE EXP

 
                200

Cash

 

            12,200

7E) GST RECEIPT ENTRY IN TALLY


Transaction 1
  • Dt: 27.10.2017:  Cash Received  200,600 from M/s.SUNIL COMPUTER SERVICES  against Bill Nos: 1 to 6

> From Gateway of Tally Select Accounting Vouchers > F6: Receipt
> Select Date: F2: Date, Enter 27.10.2017
> Account: Select Cash
> Particulars: Select SUNIL COMPUTER SERVICES
> Enter Amount: 200,600
> In the Bill-wise Details, Select Agst Ref and select Bill Numbers (i.e: 1 to 6)
> Enter Narration and Press Ctrl+A to save Payment Voucher.

Capital Entry already entered in the previous step. In the same way enter all Receipt Transactions. 

DATE
DESCRIPTION
 DEBIT AMOUNT
 CREDIT AMOUNT
01/10/2017
VASU CAPITAL A/C

        300,000
Cash
          300,000

27/10/2017
SUNIL COMPUTER SERVICES

        200,600
Cash
          200,600

28/10/2017
SUNIL COMPUTER SERVICES

          52,640
Cash
            52,640

28/10/2017
MTC PVT LTD

        212,820
Cash
          212,820



VASU & CO PROFIT AND LOSS A/C FROM 01.10.2017 TO 31.10.2017

Gate of Tally > Profit and Loss A/c
Select F2: Period 
(From 01.10.2017 to 31.10.2017)
Select F1: Detailed

profit and loss account in tally
Profit and Loss in Tally

Next Step:
How to Submit GSTR 3B in Tally
GST Adjustment Entry in Tally



FOR MORE INFORMATION READ THE FOLLOWING TUTORIALS









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