Page 306 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes

 By default Inventory Values are affected is set to No
 Set Percentage of Calculation will be set to 10% as per the VAT/Tax Class selected
 The Method of Calculation will be automatically set to On VAT Rate
 Enter the opening balance, if any
 Accept the Output VAT ledger.

14.3.2 Creating a Party Ledger

To create a ledger for the Supplier,

Go to Gateway of Tally > Accounts Info > Ledgers > Create
 Enter the name of the ledger in the Name field
 In the Under field, select Sundry Creditors from List of Groups

 Set Maintain Balances Bill by Bill to Yes/No

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