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.NO	ITEM NAME	QUANTITY	RATE	HSN CODE
1	Bricks	30,000 No.s	Rs. 3.00 per No	69010010
2	Natural Sand	20,000 Tons	Rs. 140 per Cu. Ft	250590
		TOTAL PURCHASE VALUE

NOTE :

• The entire Material is Purchased for Projects works – Apartment and Villa
• Distribute the half of material for Project Apartment and Half of Material for Project Villa
• Silver Plus Companies given 30 credit days

2. Company Purchased the following materials from Ramu Materials (State: Andhra Pradesh) with GST @ 5% on May – 02 – 2021

S.NO	ITEM NAME	QUANTITY	RATE	HSN CODE
1	Cement	4,000 Bags	Rs. 500 Per Bag	252390
2	PlyWood	1,500 Sq Ft	Rs. 50 Per Sq Ft	441213

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

see more:

How to do JOB COSTING in Tally Prime ?