Creating a Party Ledger

To create a Party Ledger grouped under Sundry Creditors

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

Set Up

In F12: Configure (Ledger Configuration):

In the Ledger creation screen:

 

Note: The option Unknown will be selected, when the Party’s deductee type details are not available.

Note: From Rel 4.8 an option to provide Bank Details is provided in the Ledger Master.

Note: The details provided in the PAN/IT No. field must be as per the standard format provided by the Income Tax department. If the PAN number specified in this field is not as per the format, then an error message appears as shown below:

 

 

In case, where the PAN is not available or applied for, such details can also be provided in the PAN/IT No. field in the format, as specified by the Income tax Department.

              * For PAN not available – enter as PANNOTAVBL

              * For PAN Applied - enter as PANAPPLIED

 

Tally.ERP 9 displays all the ledgers in which PAN/IT No is not mentioned under Exception Reports. Before e-TDS validation, the user can check this report to make necessary changes in the ledger.

 

Note: If the party is a Non Resident Deductee type, then PIN Code, State and the Sales Tax Number fields are not applicable.


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