08/10/2017

How to Automatically Calculate Net Amount & Tax amount in invoice by TallyERP.9?

Sometimes we have only gross amount of products or services. Do you know Tally calculate net amount and tax amount for you with ease.

For Example:
I have two branches in Delhi, both branches have pre printed format of invoices and issue cash bills to unregistered person. Employee/ Accountant who raise the bill don't have knowledge of GST and raise the bill with including GST but do not show the GST amount in Invoice (As a rough bill, but assessee is liable to pay GST). 

Suppose Invoice of Rs. 5000 is including GST @ 5% then net amount will be Rs. 4762, CGST Rs. 119 and SGST Rs. 119.

But as per GST Invoicing rules if any good or service is issue which is chargeable to Tax then GST will be calculated and need to pay GST to Government.

For calculate automatically GST & Net amount in Tally there is two options, one is on inventory and second is for non inventory. Both feature working same. 

To activate automatic calculation go to Accounting Vouchers and Press F12, Select yes to "Allow entry of amount inclusive of Tax for ledgers?".

Select yes to this option is allow you to enter Gross amount in Sales Voucher. If you select non inventory voucher then system ask you to enter gross amount here (below image):


For Inventory voucher system allow you to enter gross amount here (below image)


As per above Example, In above image, we have mention Rs. 5000 is gross amount and system will automatically show Rs. 4761.90 is net amount. If i select CGST and SGST 5% then system also calculate both taxes automatically.

For more information please watch this video:

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