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RCM ON FREIGHT

RCM 313 views 7 replies

NAGESWARAN

ACCOUNTANT

834 Points Joined June 2014

Hello experts
we regularly paid freight charges above 2000 Rs single payment to different transporters on every day.How to prepare the RCM entry in Tally. pls suggest for any short method to reduce the no of entry

Replies (7)

Somanath Pattanaik

5 Points Joined April 2017

made one entry at the end of the month total freight for a particular month @ 5% is RCM to be paid.

RAJA P M

"Do the Right Thing...!!!"

128111 Points Joined January 2015

You just create A Ledger as "Freight - RCM @ 5%" and also apply the Rcm head is yes. Then yoou can enter your freight amount its also shown as RCM with tax amount. Just take it a print out.

NAGESWARAN

ACCOUNTANT

834 Points Joined June 2014

welcome mr raja sir..in tally there is lot of entries to manage rcm. i do the same step for each and every payment only for RCM applicability.

NAGESWARAN

ACCOUNTANT

834 Points Joined June 2014

@ RAJA PM SIR
The method in tally is.
1. freight entry under purchase mode
2. statistic jr adj for tax liability
3. payment of rcm in receipint liability
4. statistic jr adj for increase the itc
after that every thing in gstr show s correctly .But this step is too long.