Category Archives: Certified Industrial Accountant

Payroll Reports In Tally Prime

You can use the Payroll Statement report to generate the report for a specific Pay Head/Ledger. Gateway of Tally > Display More Reports > Payroll Reports > Payroll Statement > select the appropriate Pay Head from the List of Pay Heads.Alternatively, Alt+G (Go To) > type or select Payroll Statement > and press Enter. Note: The button options in Payroll Statement report is similar to Pay Sheet report. Refer Pay Sheet report for more information on button options. Configuration Options… Read More »

Payroll Voucher Types in Tally Prime

Tally Prime Payroll provides you with Payroll, Attendance, and Payment Voucher Types. You can define a template called Voucher Class to automate and control usage of ledger accounts and computed values to be posted. It is a powerful and configurable option that enables you to define the rules of voucher entry for a particular voucher… Read More »

Payroll Masters and Income Tax Details In Tally Prime

Configure Tax Details in Tally Prime (Payroll) You can use the Tax Configuration screen to make all the necessary configuration in the following areas:. View the Tax Configuration screen Gateway of Tally > Alter > type or select Payroll Income Tax Configurations > and press Enter.Alternatively, press Alt+G (Go To) > Alter Master > type or select Payroll Income Tax Configurations > and press Enter.You can drill down… Read More »

Enable Payroll in Tally Prime

You can enable or activate payroll in Tally.ERP 9 from the Cost/Profit Centres Management section under F1: Accounting Features in F11: Features . You can then enable the statutory features provided for Payroll from F11 > F3 features. Enable Payroll Feature 1. Go to Gateway of Tally > F11: Features > F1: Accounting Features . 2. Tab down to Cost/Profit Centres Management section. 3. Set the option Maintain payroll to Yes. 4. Set the option Maintain more than… Read More »

TCS Reports in Tally Prime

TCS Outstanding Report You can view any TCS that is outstanding. You can either view it based on nature of good or party-wise. To view TCS Outstanding report ● Go to Gateway of Tally > Display > Statutory Reports > TCS Reports > TCS Outstandings . The TCS Outstanding report displaying all the pending TCS payments appears as shown below: To view the party-wise information ● Click F6:Party-wise . A brief explanation about… Read More »

Creation of Masters In Tally Prime

Party Ledger (TCS) TCS will be collected on the basis of the collectee type defined in the party ledger. 1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create 2. Press F12 and set the option Allow advanced entries in TCS masters to Yes . 3. Enter the Name and select Sundry Debtors in the Under field. 4. Enable the option Maintain bill-by-bill , to track the TCS bills. 5. Enable the option Is TCS Applicable , to allow TCS… Read More »

Configuring TCS In Tally Prime

You can enable the TCS feature in Tally.ERP 9, provide surcharge details, record transactions and generate the required reports and returns. 1. Go to Gateway of Tally > F11: Features > Statutory and Taxation . 2. In the Company Operations Alteration screen, set Enable Tax Collected at Source (TCS) to Yes . 3. Enable the option Set/alter TCS details . The Company Operations Alteration screen appears as shown below: 4. Press F12 . ● Set Enable surcharge and cess… Read More »

Basic concepts of TCS In Tally Prime

TCS (Tax Collected at Source) is the tax that a seller collects from the buyer during the sale of specific goods under provision 206C, or any other goods on the basis of realisation.  Tally Prime not only supports the latest budget changes for TCS but also provides you with a comprehensive TCS solution for your business… Read More »

TDS Outstanding Report In Tally Prime

The TDS Outstanding report displays all the pending TDS payments. You can view the pending details party-wise, or based on resident or non-resident status. To view TDS Nature of Payment Outstanding report Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > TDS Outstanding . The TDS Nature of Payment Outstanding report appears as shown below: A brief explanation about the fields  in the report is… Read More »