Tally ERP9 VAT Rate Change Process

2010

Tally.ERP9 VAT Rate Changes
Process

Mr. Nitin Sarada
Winjit Technologies Pvt. Ltd.

Tally.ERP9 VAT Rate Change Process 05 April 2010

DISCLAIMER

THE VIEWS EXPRESSED IN THE DOCUMENT ARE AUTHOR’S PERSONAL

OPINION AND THE AUTHOR IS NOT RESPONSIBLE.

www.winjit.com (WINJIT) Page 2


Table of Contents

1 INTRODUCTION ........................................................................................... 4

2 TO KNOW THE CURRENT STATUS ........................................................... 5

3 TO DOWNLOAD LATEST VERSION & STATUTORY RELEASE ............... 6

4 CREATING NEW LEDGERS ........................................................................ 7

5 CHANGES IN STOCK ITEM ....................................................................... 10

6 CHANGES IN THE VOUCHER CLASS (IF ANY) ....................................... 13

7 CUSTOMIZATIONS .................................................................................... 19

8 SPLITTING OF COMPANY ......................................................................... 20

9 ABOUT WINJIT TECHNOLOGIES PVT. LTD. ........................................... 21



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.



2 To Know the Current Status

Whenever there are certain changes due to statutory compliances, change in

rules, and provision, etc, Tally.ERP9 will make the changes in Statutory Masters

& release the stat file.

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.



3 To Download Latest Version & Statutory Release

Follow the below mentioned process in order to download the latest version of

Tally.ERP9.

 First take the backup of the existing data.

 Visit www.tallysolutions.com

 Download the latest Version File & Stat Release.

 Run the Install File (It will prompt for installation & will provide help for how

to install).

 Copy the new Stat file to the location where Tally is installed (say

C:tally.Erp9).

 Start Tally & check for the updates.

 We can import the stat release by pressing Ctrl+Altr+O.



4 Creating New Ledgers

If we are having ledgers according to the VAT Rates e.g. Sales 4%, Sales

12.5%, etc. We have to make new ledgers for Sales 5%, Purchases 5%, Output

VAT 5%, and Input VAT 5%

For creating New Ledger

Navigation: Gateway of Tally -> Account info – Ledger – Create

Sales Ledger of 5% sales



Purchase Ledger of 5% Purchases

Output VAT 5%



Input VAT 5%



5 Changes in Stock Item

To implement the changes in the stock items, please follow the below mentioned

process:

Navigation: Gateway of Tally->Stock Item->Alter

 Change the rate of VAT for the selected item.



 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



Example:



6 Changes in The Voucher Class (if any)

Voucher class is the definition of structure to make the entries.

E.g. if we are defining the voucher class for Sales, that will simplify the

calculations mode for sales entries as predefined in the class.

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



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)

 Include the Groups

As explained, we can include the groups.



 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%

 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%

Output VAT 12.5% -> 11.12%

 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.



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



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



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.



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



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”



9 About Winjit Technologies Pvt. Ltd.

Winjit is a fast-growing provider of software consultancy, design and

development services, headquartered in the India. Winjit Technologies has a

proven track record of successful development and implementation of solutions

on different technologies for a variety of customers.

With state-of-the-art delivery centres in India, we have a team of competent

professionals with expertise in different technologies. Our development centres

have all the necessary communication links and hardware / software for

development of commercial applications, web portals and web sites.

To maximize value for the customer, our development centres follow ISO 900

certified processes. Our Project Management Methodologies is a blend of finest

practices tuned to support the engagement models.

With extensive experience in consulting, training and software development, we

have successfully completed a number of projects on a wide range of hardware

and software platforms. Continuing investments in net centric technologies,

client/server technologies, software development methodologies, project

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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