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2010
Mr. Nitin Sarada
Winjit Technologies Pvt. Ltd.
Tally.ERP9 VAT Rate Changes Process
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DISCLAIMER
THE VIEWS EXPRESSED IN THE DOCUMENT ARE AUTHOR’S PERSONAL
OPINION AND THE AUTHOR IS NOT RESPONSIBLE.
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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
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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.
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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.
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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.
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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
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Purchase Ledger of 5% Purchases
Output VAT 5%
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Input VAT 5%
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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.
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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
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Example:
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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
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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.
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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.
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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
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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
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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.
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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 [email protected] or 91-253-6633999
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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”
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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.