{"id":111137,"date":"2021-02-26T15:49:20","date_gmt":"2021-02-26T10:19:20","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=111137"},"modified":"2024-04-12T14:31:21","modified_gmt":"2024-04-12T09:01:21","slug":"vat-vouchers-invoices","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/","title":{"rendered":"VAT Vouchers & Invoices"},"content":{"rendered":"\n

Journal Voucher<\/u><\/strong><\/p>\n\n\n\n

The journal adjustment entries can be recorded by selecting the appropriate VAT Adjustments from the list, which displays as shown:<\/p>\n\n\n\n

\"image214\"<\/figure><\/div>\n\n\n\n

Interest Payable<\/strong><\/p>\n\n\n\n

To create a VAT Interest Payable,<\/p>\n\n\n\n

Go to Gateway of Tally > Accounting Vouchers > F7: Journal ><\/strong> Select the appropriate Voucher Class<\/strong> from the list displayed.<\/p>\n\n\n\n

  • SelectInterest Payable<\/strong> in the Used for<\/strong> field<\/li>
  • DebitInterest<\/strong> ledger grouped under Indirect Expenses<\/strong><\/li>
  • Enter theAmount<\/strong> in the Debit<\/strong> field<\/li>
  • Credit theInterest Payable<\/strong> ledger grouped under Current Liabilities<\/strong><\/li>
  • The creditAmount<\/strong> is automatically entered<\/li><\/ul>\n\n\n\n
    \"image215\"<\/figure><\/div>\n\n\n\n
    • Accept the journal voucher.<\/li><\/ul>\n\n\n\n

      Payment of VAT<\/u><\/strong><\/p>\n\n\n\n

      To create a VAT Payment voucher,<\/p>\n\n\n\n

      Go to Gateway of Tally > Accounting Vouchers > F5: Payment<\/strong><\/p>\n\n\n\n

      1. In thePayment Voucher<\/strong>press Stat Payment<\/strong> button (Alt + S)<\/strong>. In the Statutory Payment<\/strong> screen enter the details given below:<\/li><\/ol>\n\n\n\n
        \"image216\"<\/figure><\/div>\n\n\n\n
        1. InStatutory Payment<\/strong>screen<\/li><\/ol>\n\n\n\n
          • Type of Duty\/Tax<\/strong>: SelectVAT<\/strong> if the payment is being made towards VAT dues, else select CST<\/strong>.<\/li>
          • Auto Fill Statutory Payment<\/strong>: Set it toYes<\/strong> to automate the display of VAT payable amount.<\/li>
          • Adjust Input VAT for Payment<\/strong>: This field gets displayed only when – Auto Fill Statutory Payment is enabled. On setting this field toYes<\/strong>, the VAT payable amount gets calculated by offsetting output VAT against the available tax credit.<\/li>
          • Period From<\/strong>: Enter the return period inFrom<\/strong> and To<\/strong><\/li><\/ul>\n\n\n\n
            \"image217\"<\/figure><\/div>\n\n\n\n

            3. Press Enter<\/strong> to save the Statutory Payments screen. On saving the Statutory Payments details, the VAT Details will be auto filled in the payment Voucher.<\/p>\n\n\n\n

            \"image218\"<\/figure><\/div>\n\n\n\n
            1. InAccount<\/strong>field select the Bank Ledger<\/strong> – Dena Bank<\/strong> from the List of Ledger Accounts<\/li>
            2. Enable the optionProvide Details<\/strong>to Yes<\/strong> to enter the payment Details<\/li>
            3. InPayment Details<\/strong>screen<\/li><\/ol>\n\n\n\n
              • Period From<\/strong>and To<\/strong>: The period details will be displayed automatically based on the details entered in Statutory Details screen.<\/li>
              • Type of Payment<\/strong>: SelectNot Applicable<\/strong> as the payment is made towards the Original<\/strong> returns (monthly VAT liability)<\/li>
              • Deposit Date<\/strong>: Enter theDate of Deposit<\/strong> of VAT to the department.<\/li>
              • DD\/Cheque No.<\/strong>: Enter theDD<\/strong> or Cheque Number<\/strong> through which the payment is made.<\/li>
              • Name of Issuing Bank<\/strong>: Enter the name of the bank on which the DD or cheque is issued.<\/li><\/ul>\n\n\n\n
                \"image219\"<\/figure><\/div>\n\n\n\n

                7. Enter the details in the field Narration<\/strong>, if required.<\/p>\n\n\n\n

                1. PressY<\/strong>or Enter<\/strong> to accept and save.<\/li><\/ol>\n\n\n\n

                  VAT Purchase Invoice<\/u><\/strong><\/p>\n\n\n\n

                  To create purchase invoice for purchase of taxable goods,<\/p>\n\n\n\n

                  Go to Gateway of Tally > Accounting Vouchers > F9: Purchases<\/strong><\/p>\n\n\n\n

                  Press F12: Configure<\/strong> and set Use Common Ledger Account for Item Allocation<\/strong> to No.<\/strong><\/p>\n\n\n\n

                  1. Select theParty\u2019s A\/c Name<\/strong>from the List of Ledger Accounts<\/strong><\/li>
                  2. Select the stock items from theList of Items<\/strong><\/li>
                  3. Enter theQuantity<\/strong>and Rate<\/strong>. The amount is automatically displayed in the Amount field.<\/li>
                  4. In theAccounting Details<\/strong>screen, select the purchase ledger with the required VAT\/tax class.<\/li>
                  5. On selecting the purchase ledger predefined with VAT\/Tax class, the same will be displayed inAccounting Details<\/strong>screen. Else, the VAT\/Tax class has to be selected if it is not predefined in the purchase ledger master. On selecting Not Applicable<\/strong> in VAT\/Tax class<\/strong> field, the error message is displayed as – VAT\/Tax Classification not Selected<\/strong>.<\/li>
                  6. Select an expense ledger grouped underDirect Expenses<\/strong>by setting the option Use for Assessable Value Calculation<\/strong> to Yes<\/strong> with the Method of Apportioning<\/strong> to be made, Based on Value<\/strong>. Enter the expense amount.<\/li>
                  7. Select the appropriateInput VAT<\/strong>ledgers from the List of Ledger Accounts. The amount of Input VAT gets calculated on the aggregate of assessable value and the amount apportioned for the expense ledger.<\/li>
                  8. SetIs e-Sugam Applicable<\/strong>to Yes.<\/strong><\/li><\/ol>\n\n\n\n
                    \"image-9\"<\/figure><\/div>\n\n\n\n
                    1. Thee-Sugam<\/strong>sub-screen will be displayed for entering the details pertaining to:<\/li><\/ol>\n\n\n\n
                      • Invoice Delivery Date<\/strong>: The invoice date will be captured here.<\/li>
                      • From Place<\/strong>: Enter the place from where the goods are despatched.<\/li>
                      • To Place (Destination)<\/strong>: Enter the name of place where the goods are to be delivered.<\/li>
                      • Category of Transactions<\/strong>: The category of transactions as listed in the e-Sugam entry form in the Department website gets displayed as list of VAT Category Type. Select the required category based on the nature of transaction.<\/li><\/ul>\n\n\n\n
                        \"image-10\"<\/figure><\/div>\n\n\n\n
                        • Document Type<\/strong>: Based on the Category of transaction selected the Document Type gets displayed in this field. On selecting the following category, two document types get displayed for selection. The required document needs to be selected here:
                          • For the category –V-G  For Jobwork\/Return After Jobwork\/Line Sale<\/strong>, the Document types – LJV Consignment for Sale (Receipts)<\/strong> and OTH Others<\/strong> get listed.<\/li>
                          • For the category –V-K  Others<\/strong>, the Document types – LJV Consignment for Sale (Receipts)<\/strong> and  OTH Others<\/strong> get listed.<\/li><\/ul><\/li>
                          • Transporter Name (Carries Name \/ Agent)<\/strong>: Enter the name of transport service used by seller to despatch goods.<\/li>
                          • Vehicle Number (Despatch through)<\/strong>: Enter the Vehicle Number here.<\/li>
                          • Bill of lading\/LR-RR No.<\/strong>: Enter the bill of lading\/LR-RR number<\/li>
                          • Quantity with Units<\/strong>: The quantity entered for each stock item will be captured along with the respective unit of measurement.<\/li>
                          • e-Sugam Number<\/strong>: The unique number displayed in the e-Sugam acknowledgement obtained on uploading dealer TIN with the transportation details before despatch of these goods needs to be entered here. The seller of goods will inform the number to the purchaser.<\/li><\/ul>\n\n\n\n
                            \"image-11\"<\/figure><\/div>\n\n\n\n

                            10. Press Enter to return to purchase invoice creation screen.<\/p>\n\n\n\n

                            11. Set Show Statutory Details<\/strong> field to Yes<\/strong> if you want to view the purchase details with the tax break-up.<\/p>\n\n\n\n

                            \"image-12\"<\/figure><\/div>\n\n\n\n

                            12. Press Enter<\/strong> to view the Statutory Details<\/strong> screen<\/p>\n\n\n\n

                            13. Press Alt+F1<\/strong> to view purchase value and tax break-up in detailed mode. The value of expense ledger is apportioned to the item value. The input VAT is calculated on the apportioned amount.<\/p>\n\n\n\n

                            \"image-13\"<\/figure><\/div>\n\n\n\n

                            14. Accept the Statutory Details<\/strong> screen and the purchase invoice.<\/p>\n","protected":false},"excerpt":{"rendered":"

                            Journal Voucher The journal adjustment entries can be recorded by selecting the appropriate VAT Adjustments from the list, which displays as shown: Interest Payable To create a VAT Interest Payable, Go to Gateway of Tally > Accounting Vouchers > F7: Journal > Select the appropriate Voucher Class from the list displayed. SelectInterest Payable in the Used for field DebitInterest ledger grouped under Indirect Expenses…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-111137","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nVAT Vouchers & Invoices - Tutorial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VAT Vouchers & Invoices - Tutorial\" \/>\n<meta property=\"og:description\" content=\"Journal Voucher The journal adjustment entries can be recorded by selecting the appropriate VAT Adjustments from the list, which displays as shown: Interest Payable To create a VAT Interest Payable, Go to Gateway of Tally > Accounting Vouchers > F7: Journal > Select the appropriate Voucher Class from the list displayed. SelectInterest Payable in the Used for field DebitInterest ledger grouped under Indirect Expenses...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/\" \/>\n<meta property=\"og:site_name\" content=\"Tutorial\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-12T09:01:21+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.vskills.in\/lms\/wp-content\/uploads\/2016\/12\/image214.gif\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/\",\"name\":\"VAT Vouchers & Invoices - Tutorial\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.vskills.in\/lms\/wp-content\/uploads\/2016\/12\/image214.gif\",\"datePublished\":\"2021-02-26T10:19:20+00:00\",\"dateModified\":\"2024-04-12T09:01:21+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/#primaryimage\",\"url\":\"http:\/\/www.vskills.in\/lms\/wp-content\/uploads\/2016\/12\/image214.gif\",\"contentUrl\":\"http:\/\/www.vskills.in\/lms\/wp-content\/uploads\/2016\/12\/image214.gif\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"VAT Vouchers & Invoices\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\",\"name\":\"Tutorial\",\"description\":\"Vskills - A initiative in elearning and certification\",\"publisher\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/tutorial\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#organization\",\"name\":\"Vskills\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/07\/vskills-min-logo.jpg\",\"width\":73,\"height\":55,\"caption\":\"Vskills\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/tutorial\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/vskills.in\/\",\"https:\/\/x.com\/vskills_in\",\"https:\/\/www.linkedin.com\/company-beta\/1371554\/\",\"https:\/\/www.youtube.com\/channel\/UCMWnscxPwRF_PqXo9B7q_Tw\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"VAT Vouchers & Invoices - Tutorial","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/tutorial\/vat-vouchers-invoices\/","og_locale":"en_US","og_type":"article","og_title":"VAT Vouchers & Invoices - Tutorial","og_description":"Journal Voucher The journal adjustment entries can be recorded by selecting the appropriate VAT Adjustments from the list, which displays as shown: Interest Payable To create a VAT Interest Payable, Go to Gateway of Tally > Accounting Vouchers > F7: Journal > Select the appropriate Voucher Class from the list displayed. 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