It is the error driving method that directly entering the Purchase Voucher entry for VAT Calculation in Tally ERP 9. While selecting appropriated VAT/Tax Class from the list of Tax Classes, the Data Entry operator would be tempted to select the wrong Class in a hurry. Even he would select Sundry Debtor instead of Sundry Creditor due to ambiguity in the name. It would lead to the wrong Tax Filing and wrong Accounting Maintenance. So, It is better to make this work some what easier to filter the required Vat Classes for each and every Taxable Purchase. Tally ERP 9 has come up with a solution called Voucher Class. Here you can restrict the Ledger and which automatically restricts the VAT Classes. And even we can restrict to display only Sundry Creditors.
Voucher Class creation can be achieved with a simple alteration to the Purchase Voucher. For this i am creating a Purchase Voucher Class for handing Purchase @ 5% VAT/Tax. Follow the following points step by step.
- Open Tally ERP 9.
- Load or select the Company for which you want to create Voucher Class.
- Select Accounting Info under Master.
- Voucher Types.
- You can see list of existing Voucher Types. Select the Purchase.
- Directly come under Name of Class on your right hand side in Voucher Type Alteration screen.
- Give give for the Voucher Class for example Purchases @ 5%.
- After giving the name press entry you will be direct to a screen where you need to enter the following information as per your requirement.
- Under Exclude these Groups select the appropriate Account Groups which you want to restrict during voucher entry.
- Under Include these Groups select the appropriate Account Groups which you want to allow during voucher entry.
- for Default Accounting Allocation for each item in invoice option select the appropriate Inventory Purchase Ledger from the list here i am taking Purchases @ 5%.
- And you need to select VAT Ledger for that so you can select VAT/Tax Ledger such as Input VAT @ 5% under Additional Accounting Entries to be added in invoice. If there are any additional charges like Freight, Labor Charges are there you can select them as well under this option.