Purchases & Sales Ledger

Purchase Ledger

To create a Purchase Ledger,

Go to Gateway of Tally > Accounts Info > Ledgers > Create

Click on F12: Configure button and set the field Use ADDRESSES for Ledger Accounts to NO as the address details are not required for purchase ledgers.

1. Enter the Name as Purchases @ 12.5%

2. Select Purchase Accounts as the account group in the Under field

3. Set Inventory values are affected to Yes

4. Set the option Used In VAT Returns to Yes to display the VAT/Tax Class sub-screen.

5. Select Purchases @ 12.5% as the VAT/Tax Class from the list of VAT/Tax Class

6. Press Enter to return to the Purchases @ 12.5% ledger creation screen and set the option Use for Assessable Value Calculation to No

7. Press Y or Enter to accept and save.

Sales Ledger

To create a Sales Ledger,

Go to Gateway of Tally > Accounts Info > Ledgers > Create

1. Enter the Name as Sales @ 12.5%

2. Select Sales Accounts as the account group in the Under field

3. Set Inventory values are affected to Yes

4. Set the option Used In VAT Returns to Yes to display the VAT/Tax Class sub-screen

5. Select Sales @ 12.5% as the VAT/Tax Class from the list of VAT/Tax Class

6. Press Enter to return to the Sales @ 12.5% ledger creation screen

7. Set the option Use for Assessable Value Calculation to No

8. Press Y or Enter to accept and save the ledger.