Sometimes, back, I have written an article on how to create an item ledger with vat and excise duty details, so that the sales invoice entry will automatically pick the duty calculation on the item.
In response to the same, some of my readers including Mr. Gautam and Mr. Shahid have raised query on how to create an item with service charges excluding vat on service/repairing income ?
Here is the solution to this problem.
Let’s assume on 28-08-2010 Red Express Company sold 10 Nos. Auto parts @ 1500 per Part to M/s.Zoom Auto co. along with a repairing charges of Rs. 5000.00
To account the above transaction
1. Create Income Ledger : Repairing Charges (Income) under the group Direct Income.
2.Set Inventory Values affected to No
IF you are not under the preview of service tax then set no to service tax filed under statutory details.otherwise set it to yes.
3.Set No for used in vat returns, and used for assessable value calculation
4. Record the Transaction in Sales Voucher
Go to Gateway of Tally > Accounting Vouchers > F8: Sales
- In Accounting Voucher Creation screen, press Alt+I or click on I : Item Invoice if the voucher is in Account invoice mode
- Press F2 and change the date to28-8-2010
- In Party’s A/c Name field select the service receiver Zoom Auto Com
- In Name of Item field select Computers and specify Quantity as 10 and Rate as 1500
- In Accounting Details screen ledger select the Sales Ledger and press Enter
6. after entering item details, press enter it will ask for secondary /additional ledger income detail
7. here select Repairing charges Income ledger as created above
8. Now select out vat amount. it will be calculated only on the item price excluding the repairing charges income.
9. Accept the screen.
If you face any problem, please post your query on support forum