Tally

Neha Mishra (@student) (234 Points)

20 March 2014

Dear all

my query is whether purcahse is to be show with duty +vat amount in Purchase reg. and P&L or without duty +vat

We have older release of Tally , firstly we backed up and download the latest version then we restore the data but now problem ocuurs

before latest release the P&L shows only cost of Purchase and Duty and VAT go under Duties & Taxes

after restoring the latest version the purchse in P&L and purchase reg shows the purchase cost with duty and VAT

how can we resolve this problem

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5 Replies

Tarun Kumar G (Accountant) (59 Points)
Replied 20 March 2014

Only Cost of Purchase should reflect in purchase book

please check the group of Duty and VAT ledgers

CA Saroj Kumar (Keen to learn something new every moments) (2588 Points)
Replied 20 March 2014

For future ..

u shoud do the entries with breakup it will easier while claiming input credit.

INDAZAR (Articled Assistant) (301 Points)
Replied 21 March 2014

Purchase and VAT is to be debited separately. Purchase should only be reflected in trade accounts and input VAT is to be shown separately.

Input VAT is an asset and purchase is coming under purchase accounts.

Call Tally solutions for technical help.

Neha Mishra (@student) (234 Points)
Replied 31 March 2014

Thanks to all

CA PRIYUL SHAH (JOB) (901 Points)
Replied 21 May 2014

Only Cost of Purchase should reflect in purchase verify grouping of Duty and VAT ledgers

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