How do you enter Intrastate purchases and Intrastate sales with Cost centers and Cost Categories ?

ASSIGNMENT

  1. Company purchase the following materials from Silver Plus Companies (State : Andhra Pradesh) with GST @ 5% on May – 01 – 2021 and reference number : spc/100
S.NOITEM NAMEQUANTITYRATEHSN CODE
1Bricks30,000 No.sRs. 3.00 per No69010010
2Natural Sand20,000 TonsRs. 140 per Cu. Ft250590
TOTAL PURCHASE VALUE

NOTE :

  • The entire Material is Purchased for Projects worksApartment and Villa
  • Distribute the half of material for Project Apartment and Half of Material for Project Villa
  • Silver Plus Companies given 30 credit days
  1. Company Purchased the following materials from Ramu Materials (State: Andhra Pradesh) with GST @ 5% on May – 02 – 2021
S.NOITEM NAMEQUANTITYRATEHSN CODE
1Cement4,000 BagsRs. 500 Per Bag252390
2PlyWood1,500 Sq FtRs. 50 Per Sq Ft441213

NOTE:

  • The total material is purchased for Project works – Apartment and Villa
  • Share the 75% of Material for Project – Apartment and remaining 25% for Project Villa
  • Ramu Materials given 40 Days credit days

SOLUTION

Activating the Features

  • Press F11 for Company Features
  • Accounting:
    • Maintain Accounts : Yes
    • Enable Bill-wise entry : Yes
    • Enable Cost Centers : Yes
  • Inventory:
    • Maintain Inventory : Yes
    • Integrated Accounts with Inventory : Yes
  • Taxation:
    • Enable Goods And Service Tax : Yes
  • Press CTRL + A to accept the total screen

Creating Ledgers

  • Gateway of Tally
    • Masters
      • Create
        • Ledgers
  • Name : Silver Plus Materials
    Under : Sundry Creditors
    Maintain Balances Bill By Bill : Yes
    Press Enter
    Select “State “Andhra pradesh” from the list , Press enter
    Accept _ Yes
  • Name : Ramu Materials
    Under : Sundry Debtors
    Maintain Balances Bill By Bill : Yes
    Press Enter
    Select State “Andhra Pradesh” from the list, Press enter
    Accept_ Yes
  • Name : Purchase A/c
    Under : Purchase Accounts
    Inventory Values Are Affected : Yes
    Cost Centers Are Applicable : Yes
    Is GST Applicable : Yes

    Nature of Transaction : Purchase Taxable
    Integrated Tax : 5%
    Central Tax : 2.5%
    State Tax : 2.5%
    Press Enter
    Type of Supply : Goods
    Press Enter
    Accept _ Yes
  • Name : Sales A/c
    Under : Sales Accounts
    Inventory Values Are Affected : Yes
    Cost Centers Are Applicable : Yes
    Is GST Applicable : Yes

    Nature of Transaction : Sales Taxable
    Integrated Tax : 5%
    Central Tax : 2.5%
    State Tax : 2.5%
    Press Enter
    Type of Supply : Goods
    Press Enter
    Accept_ yes
  • Name : CGST
    Under: Duties & Taxes
    Type of Duty / Tax : GST
    Tax Type : Central Tax
    Percentage of Calculation : 2.5%
    Press Enter
    Accept_ Yes
  • Name : SGST
    Under : Duties & Taxes
    Type of Duty / Tax : GST
    Tax Type : State Tax
    Percentage of Calculation : 2.5%
    Press Enter
    Accept _ Yes

Creating Cost Category

  • Gateway of Tally
    • Masters
      • Create
        • Click on “Show More”
          • Accounting Masters
            • Cost Category
            • Click on “Create New”
  • Name : Project – Works

    Allocate Revenue Items : yes
    Allocate Non-Revenue Items : Yes
    Press Enter
    Accept_ Yes

Creating Cost Centers

  • Gateway of Tally
    • Masers
      • Create
        • Accounting Masters
          • Cost Center
  • Category : Project – Works
    Name : APARTMENT
    Under : Primary
    Accept _ Yes
  • Category : Project – Works
    Name : VILLA
    Under : Primary
    Accept_ Yes

Creating Stock Items

  • Gateway of Tally
    • Masters
      • Create
        • Inventory Masters
          • Stock Item
  • Name : Bricks
    Under : Primary
    Units : No.s
    Accept _ Yes
  • Name : Natural Sand
    Under : Primary
    Units : Tons
    Accept_ Yes
  • Name : Cement
    Under : Primary
    Units : Bags
    Accept_ Yes
  • Name : Ply Wood
    Under : Primary
    Units : Sq. Ft
    Accept_ Yes

CREATING INTRASTATE PURCHASE VOUCHER

  • Gateway of Tally
    • Transactions
      • Vouchers
  • Press F9 for Purchase Voucher
  • Press CTRL + H for change mode and select “As Voucher”in it, press enter
  • Cr. Silver Plus computers <Press enter>
    Amount : 30,34,500
  • Dr Purchase A/c – 28,90,000
    press enter
    Now Select the items “Bricks and Sand from the list , and enter the quantity and rate
    Then after, select Cost category “Project works from the list, and select Cost centers “Apartments and Villa” from the list, then distribute the amount equally
  • Dr CGST A/c – 72,250
  • Dr SGST A/c – 72,250

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