Trending February 2024 # Release Notes For Tallyprime And Tallyprime Edit Log Release 3.0 # Suggested March 2024 # Top 8 Popular

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With easier data analysis using report filter, facility to send payment requests to your customer, and better data management experience, TallyPrime Release 3.0 brings you a diverse range of useful features. What’s more, with the enhanced features for GST, including the easier experience for GSTR-1, GSTR-2A, and GSTR-2B reconciliation, the product exudes simplicity and delight for you in every way.

Additionally, the Income Tax Computation report is updated with the latest income tax slab rates, as per Finance Budget 2023-24.

You can also read the Release Notes in Hindi (हिन्दी), Gujarati (ગુજરાતી), Bengali (বাংলা), Telugu (తెలుగు), Malayalam (മലയാളം), Kannada (ಕನ್ನಡ), and Tamil (தமிழ்).

GST

TallyPrime and TallyPrime Edit Log Release 3.0 have made your GST experience a thing of delight and comfort.

The product now has the facility of maintaining a single Company data with multiple GST registrations, while enabling you to record transactions and view report for any specific GST registration or all GST registrations. It eases the process of recording GST transactions with automatic tax liability calculation for all transactions and enhanced tax analysis experience.

The facility to specify GST Rate and HSN/SAC Details separately in masters and the   experience in overriding the values   recording GST transactions even easier for you.

The product takes care that your GST Return reports get updated as per the values specified in the transactions, without having the need to create Journal Vouchers to raise Tax Liability and claim Input Tax Credit. However, you have the flexibility to follow the process of recording Journal Vouchers, if needed. 

Moreover, you can reconcile transactions of GSTR-1, GSTR-2A, and GSTR-2B with great ease. The facility to reset GST-related data enables you to erase the GST data imported from the GST portal for reconciliation, in case of mismatches in GST details. You can then re-enter values to match with the GST portal data, and then re-import the portal data to reconcile transactions.

Payment Request

TallyPrime now comes with the Payment Request feature that will help you easily generate and share payment links and QR codes (using Payment Gateway or UPI). This feature will also empower your parties to settle the payments with you, instantly and conveniently.

Data Exchange and Data Management

In addition to that, Data Exchange supports exporting and importing of transactions of a specific or all GST registrations, as needed.

Data management activities such as migration, repair, and import will be all the smoother, as you will get to know the stages of the process, while a summary report informs you about masters and vouchers before the initiation and after the completion of process. On the other hand, identifying and resolving errors that occurred during the process is all the simpler.

If you are a TallyPrime Edit Log user, then you can download TallyPrime Edit Log Release 3.0.

Multiple GST Registrations in a Single Company

Multiple GST registrations in a single Company data brings in a simpler GST Return-filing experience, as you can file GST Return for each GST registration separately using GST reports of a single Company data. It saves you from the trouble of maintaining different Company data for different GST registrations. This, in turn, saves a great deal of time, as you can work to prepare for GST Returns of each GST registration in a single Company data. 

With the facility of maintaining all your GST registrations in a single company, you can now:

Create GST registrations in the Company with:

All the GST registration details such as State, Address Type, Registration Type, and GSTIN/UIN

Periodicity of Return filing

Place of Supply

e-Invoice and e-Way Bill applicability

Reconciliation configuration

LUT/Bond Details, as applicable

Other details related to GST registration

Record transactions as per:

The GST rules applicable to a specific GST registration

Information provided for the GST Registrations, such as GSTIN/UIN and Address

Create voucher series for each GST registration to avoid conflicting voucher numbers

Open GST Return reports that are displayed at a greater speed for your immediate reference

Export GST Returns for a specific GST registration or all registrations, as needed

Use credentials of specific GST registration to log in for e-Invoice and e-Way Bill activities

Additionally, you can deactivate a specific GST registration in case of suspension or surrender. And you have the flexibility to reactivate the GST registration, whenever required. 

To know more, refer to the Enable GST for Your Company – Single and Multi-Registration section in the Getting Started with GST in TallyPrime topic or watch the How to Use Multiple GST Registrations Feature in TallyPrime video.

You can also easily merge Companies with different GST registrations in TallyPrime.

To know how to do, refer to the Merge Companies with Different GSTINs topic or watch the How to Merge Companies with Different GSTIN/UINs in TallyPrime Release 3.0 or Later video.

Specifying GST Details

You now have the flexibility to specify and update the details related to GST Rate and HSN/SAC separately in different types of masters, as needed. Updating GST registration details of a party has also become simpler. Furthermore, you can specify slab rates in any master – be it stock item, stock group, ledger, or group, as needed. 

GST Rate and HSN/SAC Details

Entering GST Rate and HSN/SAC details has become all the easier, as you can enter those details in separate masters, as per your requirement. On the other hand, the facility to override the details during voucher creation imparts great flexibility.

To know more, watch the How to Set Up GST Rate Details at Different Levels in TallyPrime and How to Configure Ledgers for GST in TallyPrime videos.

You can now:

Subsequently, when you create a voucher, the GST Rate and HSN/SAC details will be considered from the source set under F11 Company features.

Choose to update GST Rate details in one master (such as Stock Group) and HSN/SAC details in another master (such as Stock Item).

Override the GST and HSN/SAC details in any other master or during voucher creation.

To know more, refer to the Set Up GST Rates and HSN/SAC Details section in the Getting Started with GST in TallyPrime topic.

GST Registration Details

You can now update the GST Registration Details (such as GSTIN and Registration Type) and Mailing Details (such as Address, State, or Country) for a registration in the masters in such a way that there will be no impact on:

The transactions recorded earlier.

The Returns filed in the previous months.

What’s more, with the newly introduced facility to check the history of updates in GST Registration Details, you can now know:

The nature of updates in GST Registration Details

The date on which the updates were made

To know more, refer to the Update GST Details in Party Ledgers section in the Getting Started with GST in TallyPrime topic or watch the How to Update Party GST Registration in TallyPrime Without Affecting Earlier Returns video.

Slab Rate in Masters

For items or services with varying GST rates for slabs of different amounts, you can now specify slab rates not only in Stock Items but also in the Stock Group, Ledger, and Company, as needed.

To know more, watch the How to Specify Slab-Based GST Rate Details in Masters in TallyPrime video.

GST Transactions

Calculating tax in transactions has become all the easier, as TallyPrime considers GST rate and HSN/SAC details provided in the respective masters, while you can simply override the details during voucher creation, as needed. 

With TallyPrime Release 3.0, you can now:

Record transactions for any of the GST registrations, when you maintain multiple GST Registrations in a single Company.

Set the Nature of Transaction in the voucher instead of having to do so for each ledger.

Override GST rates and HSN/SAC codes in transactions with great ease.

You can also do so for multiple transactions in the GSTR-2A Reconciliation report.

You can also do so for multiple transactions in the GST Return reports such as GSTR-1, GSTR-3B, and GSTR-2A Reconciliation.

To know more, refer to the GST Amendments in TallyPrime topic.

The options provided for Statutory Adjustments include Increase in Tax Liability, Increase in Input Tax Credit, Increase in Tax Liability & Input Tax Credit, and others.

The GST Registration details include:

Company GST Registration details (non-editable)

Party GST Registration details

Tax Rate details

HSN/SAC details

The setting of Include in Assessable Value

View the GST, e-Invoice, and e-Way Bill data of a voucher, exactly as it appears on the portal.

Apart from the above-mentioned facilities, you can also:

To know more, refer to the Record a Material In Voucher Under GST in TallyPrime topic.

To know more, refer to the Local and Interstate Purchase of Goods and Services topic.

Select Place of Supply for both domestic and international suppliers.

What’s more, if you change a value that affects GST Returns, then TallyPrime will prompt you at the time of re-saving the voucher, so that you can take one of the following decisions:

Accept with difference in values and resolve the mismatch later.

Accept with difference in values, while ensuring that the voucher is not considered as mismatched.

Go back to the voucher and revert to the original values, if needed.

Default GST Registration for a Voucher Type

In case of multiple GST Registrations, you can set a default GST Registration for a specific Voucher Type.

For instance, if you record all Journal Vouchers for a specific office or location, then you can set the GST Registration of that location in the Voucher Type as the default one.

Subsequently, when you create the voucher, the default GST registration will be the one chosen in the Voucher Type, thereby saving time consumed in switching between the GST registrations.

Retention of Original Voucher Numbers for Automatic or Multi-user Auto

For Voucher Types with Automatic or Multi-user Auto method of voucher numbering, TallyPrime retains the original voucher number in case of voucher insertion or deletion.

This ensures that the voucher numbers of transactions remain intact despite insertion or deletion.

However, you can choose to renumber vouchers at the time of voucher insertion or deletion, if you follow the practice in your business.

To know more, watch the Voucher Numbering Behavior in TallyPrime video.

Voucher Series for Specific GST Registration

For Companies with multiple GST registrations, you can create voucher numbering series for each registration and Voucher Type, so that there is no conflict of same voucher numbers in your data and also in the Returns.

To know more, refer to the Create Voucher Numbering Series section in the Getting Started with GST in TallyPrime topic.

GST Returns

TallyPrime Release 3.0 enables much faster opening of GST Returns for your immediate reference. Moreover, filing GST Returns becomes all the simpler as GST reports such as GSTR-1 and GSTR-3B are enhanced, so that you can easily:

View GST Returns for a specific GST registration or all GST registrations, as needed.

To know more, refer to the Track GST Return Activities topic or watch the How to Use Track GST Return Activities Report in TallyPrime to Track Activities Related to Returns video.

Resolve the uncertain transactions with greater ease.

To know more, watch the How to Use Transactions Accepted as Valid Report in TallyPrime video.

Set Return Effective Date for more than one transactions, if you want to move certain transactions to a different Return period.

To know more, refer to the GST Amendments in TallyPrime topic.

Identify transactions that were modified or deleted after exporting them. 

View the Track GST Return Activities report to: 

Identify the pending activities such as resolution of uncertain transactions, export, and signing. 

Take actions to complete the activities so that you can file the returns timely. 

View the report that gets updated with the relevant sections that appear based on the transactions recorded and actions to be performed.

Identify the pending actions across periods, which will be highlighted in amber.

View a preview report to review the Return information to be exported.

You can do so from Exchange under the top menu:

For all GST registrations or a specific GST registration, in case of multiple GST registrations.

With section-wise JSON files, as needed.

In the format of your choice – JSON, MS Excel, or CSV.

To know, refer to the File GSTR-1 and File GSTR-3B topics or watch the How to Export GSTR-1 and GSTR-3B Using TallyPrime video.

nsactions in GSTR-1, GSTR-2A, and GSTR-2B

The experience of reconciling your transactions in GSTR-1, GSTR-2A, and GSTR-2B with the transactions of your suppliers has become further simpler. This ensures that the information in your books matches that on the GST portal. Moreover, the facility to identify potential matches to unreconciled transactions in your books adds to the ease of the reconciliation process.

You can now:

 

Reconcile transactions:

You can do so even if the transactions are from a different Return period by updating the Return Effective Date.

By specifying the threshold limit of mismatch.

By ignoring the prefix of zeros or special characters in the Document No. in GSTR-2A and GSTR-2B.

By configuring the prefix used by a party in Document No. or Invoice No. to be ignored for reconciliation in GSTR-2A and GSTR-2B.

Manually mark the status of transactions as Reconciled or Mismatch, as needed.

Consider the Supplier’s Invoice No. and Date as Document No. and Date for reconciliation in GSTR-2A and GSTR-2B.

Identify the reason for the unavailability of Input Tax Credit in GSTR-2B.

What’s more, for transactions that are on the portal and not in the books or vice versa, TallyPrime helps you identify those with matching values but different Document Nos., party GSTIN/UINs, or sections of the Return. This further helps you to speedily reconcile the transactions.

To know more, refer to the Reconcile GSTR-1 Data, Reconcile GSTR-2A Data, and 

Quick access to business information with Report Filters

Finding required information and data analysis has become all the faster, easier, and delightful with a versatile facility for applying filters that is:

Easily discoverable

Enhanced to cover the gamut of business scenarios

In a report, you can now:

You can search across an exhaustive range of fields available in transactions and masters such as:

GST details like, GSTIN/UIN, GST Rates, HSN/SAC.

Fields in supplementary details.

e-Way Bill and e-Invoice-related fields.

Select from the following types of filters, based on the specificity and complexity of information required:

Basic Filter, which works like a quick search engine.

Multi-Filter, which enables you to add more than one search criteria to find the information.

Advanced Filter, which helps you add search criteria to find the information across masters and transactions both. 

Choose a default filter to be applied in any report, based on the frequency of use in your organization.

What’s more, you can save the view of a report in which you have applied the filters and refer to the filtered information quickly.

To know more, refer to the Apply Filter in Reports in TallyPrime topic or watch the How to Apply Filters to Reports in TallyPrime to Find Information Quickly video.

TallyPrime now comes with the Payment Request feature that will help you generate and share payment links and QR codes (using Payment Gateway or UPI) in a jiffy. This will also empower your parties to settle the payments with you, instantly and conveniently.

Payment Request comes loaded with the following features, and more:

We understand that your business might have special requirements with respect to payment, and accordingly, TallyPrime provides you with numerous flexibilities to cater to your needs.

The Payment Reconciliation report will provide you with a neat summary of the unreconciled as well as reconciled transactions.

We have partnered with prominent Payment Gateways to provide you with the best-in-class security policies, and we want you to rest assured that your payments are in safe hands.

Refer to the Payment Request in TallyPrime topic to know more.

Enhanced data management experience

The improved data management facilities not only ensure that the migration to the release is seamless but also delight you with enhanced simplicity in migration, repair, import, and synchronisation. You can also view the progress of the activity in detail and resolve the exceptions, if any.

Improved Migration and Repair experience Status for migration and repair

The status against the Companies will promptly let you know if a Company needs to be migrated or repaired.

Progress of migration and repair

Right from the verification of masters and transactions to the successful migration or repair of your data, the enhanced process keeps you abreast of the progress.

View Migration and Repair summary

This helps you know if there is a loss of data during the process.

To know more, refer to the Migrate Company Data and Repair Company Data topics or watch the How to Migrate Company Data to TallyPrime Release 3.0 video.

View and resolve errors that occurred during the process

At the end of migration, repair, import, or synchronisation, you can easily:

Identify the exceptions that occurred during the process. 

Resolve one or more exceptions at a time, as applicable.

What’s more, you have the flexibility to resolve exceptions at the end of the process or later, as per your convenience.

To know more, refer to the Data Exceptions & Resolutions in TallyPrime topic or watch the How to Resolve Exceptions During Import, Repair, Migration, and Synchronisation in TallyPrime video.

Reset GSTN data

When your imported GSTN data gets corrupted or the data is accidentally imported, it might cause problems in reconciliation. 

However, TallyPrime now provides you with the facility to reset the imported GSTN data, which will erase the corrupted GSTN data, while keeping your book data intact.

Thereafter, you can again import the JSON file of GSTR-1 or GSTR-2A downloaded from the portal and continue to reconcile your transactions.

Connect or disconnect multiple companies on a single screen

You can now connect or disconnect multiple companies for online access using a single screen, thereby saving time that was consumed in selecting companies one by one. 

This is especially useful for businesses that have multiple companies that you may need to connect online for remote working, synchronisation or browser access.

To know more, refer to the Connect Companies to chúng tôi services section in the Remote Access in TallyPrime topic.

As per Finance Budget 2023-24, the latest income tax slab rates are introduced for the employees who have opted for the new tax regime.

In TallyPrime, the Income Tax Computation report, Annexure II to 24Q, and Form-16 are updated with the following:

Latest income tax slab rates

Standard deduction, as applicable

Rebate u/s 87A for the employees with taxable income lesser than or equal to Rs. 7 lakhs

Reduced surcharge rate of 25% for employees with taxable income greater than Rs. 5 crores

Marginal tax relief for employees with taxable income that exceeds Rs. 7 lakhs by Rs. 27,777 or less

What’s more, for employees with the regular tax regime, the taxable income slabs are updated with definite values for better clarity and understanding of tax calculation.

Tax Analysis for purchase vouchers (Composition dealers)

For Composition dealers, Tax Analysis is now available in purchase vouchers.

Altering last voucher number for Automatic (Manual Override)

In case of Automatic (Manual Override) voucher numbering method, when you made a voucher optional or deleted it, the subsequent vouchers got numbered as per the voucher number of the optional or deleted voucher.

You can now easily set or alter numbering details and alter the last entered voucher number, so that the future vouchers are numbered accordingly.

Identifying vouchers with duplicate voucher number or supplier invoice number 

All the vouchers with duplicate voucher numbers or supplier invoice numbers can now be identified under Duplicate Voucher No. in the Uncertain Transactions (Correction Needed) section.

You can then make the necessary corrections before filing Returns. 

Change in Voucher No. and Reference No.

When you changed the date of a voucher, the Voucher No. and Reference No. also got changed.

You now have a facility to retain voucher numbers when your method of voucher numbering is Automatic or Multi-user Auto.

Tracking of  nregistered dealers

This issue is resolved.

Place of Supply in certain purchase vouchers

You can now add Place of Supply in purchase vouchers such as those recorded for:

An interstate party that avails services locally.

An interstate party that purchases goods locally and ships to their place.

This issue is resolved.

Valid GSTIN considered invalid

A few GSTINs were considered as invalid, even if they were perfectly valid.

This issue is resolved.

GST calculation in Purchase voucher when Place of Supply was changed 

In a purchase voucher, when you changed the Place of Supply in the Party Details screen, GST was still getting calculated as per the State entered in the party ledger. 

GST will now be calculated according to the Place of Supply specified in the voucher.

Party details in Sales invoice alteration

When you altered a sales invoice and changed the Party ledger to  , the Registration Type of the party changed to Unregistered and the GSTIN/UIN got removed from the Party Details screen. 

Now, when you change the party ledger, you can choose to eit l details from the ledger or update the information.

Incorrect Stock Value after recording Purchase voucher (Composition Dealers) 

For Composition dealers, the values of some stock items appeared incorrectly in the Stock Summary.

This happened when you recorded a purchase voucher with stock items having different GST rates, and then added CGST and SGST ledgers created for the respective GST rates. 

This issue is resolved.

CGST and SGST in Tax Analysis and Print Preview for multi-currency vouchers

When you recorded a sales invoice with multi-currency, CGST and SGST as displayed in Tax Analysis did not appear in print preview.

This issue is resolved.

Natures of Transaction not available for Ledgers created under Provisions

For the Ledgers created under Provisions, the Natures of Transaction related to purchase were not available.

You can now select purchase-related Natures of Transaction for ledgers created under Provisions.

RCM Purchases of Items ineligible for ITC in GSTR-3B

 of items that are not eligible for Input Tax Credit (ITC) did not appear in the D. Ineligible for Input Tax Credit section of GSTR-3B.

This issue is resolved.

Configuring GST Details in Stock Group for Composition dealers 

Composition dealers can now configure GST Details in Stock Group.

This helps to group multiple Stock Items with a common GST rate under a Stock Group, and provide GST details.

Specifying MRP Rate in a Stock Item for Composition dealers 

Composition dealers can now specify the MRP Rate in a Stock Item.

Incorrect SGST and CGST calculation in invoices with discount recorded using voucher class

SGST and CGST were getting incorrectly calculated in sales invoices when discount was applied using voucher class. 

This issue is resolved.

Vouchers with Ledgers created under Primary Group not included in GST Returns

Vouchers with certain Ledgers were not included in any GST Return. 

This happened when the vouchers had a ledger created under a Primary group with nature of the group as Income/Expense. 

This issue is resolved.

GST/e-Way Bill details in Sales Invoice in a Company at remote end 

The Provide GST/e-Way Bill details option was not available in Sales invoice when you worked on a Company connected through remote access.

This issue is resolved.

Improvements in GSTR-1 Debit Note in Document Summary of GSTR-1 Debit Note appearing twice in Document Summary 

When you recorded a Debit Note, it appeared twice in the Document Summary – under Invoices for Outward Supply and Debit Note.

The issue is resolved, as it will now appear only under Debit Note.

Debit Note (Purchase Return) and Credit Note (Escalation in Purchase Price) in Document Summary 

Debit Note (Purchase Return) and Credit Note (Escalation in Purchase Price) transactions will now be considered in Document Summary. 

Sales invoices for party with multiple addresses

After alteration, some sales invoices moved from B2B Invoices to B2C Invoices in GSTR-1. 

This happened when you added another address in the party ledger and then altered the invoice. As a result, the Registration Type of the party changed to Unregistered.

This issue is resolved.

Selection of multiple invoices with Mismatch in GSTR-1

When you drilled down to the Nature of Transaction, Taxable value, rate of tax modified in voucher section from Uncertain Transactions (Corrections Needed) of GSTR-1, you could not select multiple invoices to resolve or accept as is.

This issue is resolved, as you can select multiple invoices and resolve or accept as is. 

State Code for Dadra and Nagar Haveli in exported MS Excel file of GSTR-1

State Code for Dadra & Nagar Haveli and Daman & Diu was not available when you exported GSTR-1 as an MS Excel file.

This happened in the B2C invoices recorded for Unregistered dealers or e-Commerce operator.

This issue is resolved.

Improvements in GSTR-3B Import of Capital Goods

The transactions recorded for import of Capital Goods did not appear in the Import of Goods section.

Such transactions appeared in the No direct implications in return tables section.

This issue is resolved.

Taxable Amount of Stat Adjustment voucher for RCM Purchase in same month

The Taxable Amount did not appear under the 3.1 (d) Inward supplies (liable to reverse charge) section in GSTR-3B.

This happened when you recorded a journal voucher for Increase of Tax Liability & Input Tax Credit in the same month as that of the RCM purchase voucher.

This issue is resolved.

Uncertain Transactions in GSTR-3B

The uncertain transactions of sales and purchase will now appear in GSTR-3B, in addition to GSTR-1 and GSTR-2A. 

GST on RCM Purchases not appearing in GSTR-3B

The liabilities recorded for RCM purchases and Input Tax Credit did not appear in GSTR-3B. 

This happened when you recorded an RCM purchase voucher for RCM liability and the Input Tax Credit corresponding to the purchase in the same month.

This issue is resolved.

Handling negative value of sales or purchase in Return reports

When you uploaded a JSON file with negative sales or purchase value, it led to an error on the GST portal.

However, with the all-new facility of Return Effective Date, you can move such transactions to a different Return period, and ensure that the sales or purchase value is not negative for any period.

Reclaim of Reversal of ITC not appearing under Input Tax Credit Reversed

Transactions recorded for Reclaim of Reversal of ITC (On Account of Buyer Payment) did not appear in the Input Tax Credit Reversed section under Others.

This issue is resolved.

Error while uploading invoices with Exempt/Nil-rated and Taxable items

While filing GSTR-3B, when you uploaded an invoice containing Exempt/Nil-rated items along with taxable ones, the following error appeared:

Table 3.1 (a), (b) and (c) are auto-drafted based on values provided in GSTR-1. Table 3.1 (d) is not auto-drafted based on GSTR-1.

This issue is resolved.

Correcting and accepting vouchers as is in GSTR-3B in lesser time

In GSTR-3B, correcting and accepting vouchers as is took longer than expected, especially when navigating to the Uncertain Transactions (Corrections Needed).

It will now take significantly lesser time to correct and resolve vouchers. 

Direct Expenses-related transactions not included in GSTR-3B

The transactions involving the Direct Expenses group were considered not relevant for GSTR-3B. They are now getting included in the Return.

Improvements in GSTR-2A Reconciliation Reconciliation of vouchers with ledgers created under Current Liabilities 

Even if all the values in a transaction matched with the portal data, some transactions did not get automatically reconciled. This happened to transactions with party ledgers created under Current Liabilities.

This issue is resolved. 

Setting GST Status manually for Reconciliation

In GSTR-2A, the imported transactions could not be manually marked as reconciled.

This issue is resolved, as the facility of setting GST Status now works seamlessly.

Transactions of any period to be considered for reconciliation

TallyPrime now considers vouchers recorded in any period for reconciliation in GSTR-2A.

Purchase voucher of previous financial year in the current Return

Purchase vouchers from the previous financial year appeared in GSTR-2A Reconciliation of the current financial year.

This happened when you entered Supplier Invoice Nos. that were already used in the previous financial year for the same party.

Due to duplication of the Supplier Invoice No. for the same party, the purchase vouchers of the previous financial year appeared in the current financial year.

The purchase vouchers of only the current financial year will now appear in GSTR-2A Reconciliation, despite the duplication.

Re-saving Nil Rated transactions of GSTR-2A in lesser time

In GSTR-2A, re-saving vouchers took longer than expected for the transactions with Nil Rated stock items or ledgers.

It will now take significantly lesser time to do so.

Improvements in GSTR-4 Sales invoices in GSTR-4

In GSTR-4, Sales invoices were appearing in both the sections – Included in Return and Not Relevant for This Return. 

Sales invoices will appear only in the Included in Return section.

RCM purchases from Unregistered parties not included in GSTR-4 

RCM purchase transactions recorded for an Unregistered party were considered not relevant for GSTR-4. They are now getting included in the Return. 

Incorrect Place of Supply in 4A&B (B2) Worksheet of GSTR-4

When you exported GSTR-4 in the MS Excel template provided by the department, Place of Supply was incorrect in 4A&B (B2B) Worksheet.

This issue is resolved.

Excluding transactions for e-Way Bill User-excluded Transactions of e-Way Bill getting excluded from e-Invoicing 

Certain vouchers used to get excluded from e-Invoicing. 

This happened to the vouchers under User-excluded Transactions (Not relevant) of the e-Way Bill report.

This issue is resolved.

Partial selection to exclude multiple transactions from e-Way Bill report

In  e-Way Bill report, you could not exclude all the selected invoices in the Missing/Invalid Information section. 

It happened when there were lots of invoices to be excluded at once. 

This issue is resolved, as you can now select as many invoices to exclude from the e-Way Bill report.

Deleted voucher displayed as Modified

In the Voucher Information Mismatch with QR Code section of the e-Invoice report, the deleted vouchers appeared as Modified, without the voucher date and e-Invoice-related details. 

This issue is resolved, as the deleted vouchers will appear as Deleted, and the e-Invoice details will be retained. 

MAV error during Data Split

In some cases, data split was interrupted by a Memory Access Violation (MAV) error. 

This issue is resolved.

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Windows 8 Release Preview Brings Better Performance, Prepping For The Final Release

Note that nothing in Windows 8’s Release Preview is final. However, Microsoft might just do a couple of minor adjustments after this. What you see is very close to the final product.

You can download Microsoft’s Windows 8 Release Preview here, if you’d like. Do not install this on a partition as an upgrade to your current primary installation. Install it on either a new drive, new partition, an unused computer, or a virtual machine (like I do). You’ll get a key that you need to write down once you start the installation.

Well, the introductory screen is rather cute and similar to the one we’ve seen in Windows 8 CP:

There seem to be more colors to choose from, empowering you to personalize your computer more. The next steps are just a bunch of configuration mumbo jumbo we’ve already covered in our review of Windows 8 CP, so let’s move on.

The next step was to sign in to your Microsoft account. You can use any Windows Live account to be able to store app data and other configurations particular to your Windows installation. The setup also allows you to enter a phone number with which to receive an SMS when you want to recover the account in case you lose your password.

After the setup’s complete, I see the usual Metro screen, only slightly different:

The Start screen’s background has changed, but nothing much overall is different. The task manager and other features we had a look at are the same. Now here’s what’s different in the Release Preview:

Metro interface is much smoother operating from a mouse and keyboard. Others who have installed the update on tablets have tested it and found it to be very smooth as well.

Response time is excellent even on a virtualization environment.

It’s easier to navigate the charms and open apps bars through the mouse.

This kind of improvement in performance might make the actual release of Windows 8 something to look forward to.

Although there are a lot of users who are understandably upset at the interface changes, it’s just because you have something to get used to. Some people weren’t terribly excited when Microsoft made the transition from MS-DOS 4.0 to a fully-functional desktop GUI.

Because of the difficulties some people might encounter while trying to get used to the Metro/Desktop interfaces, Microsoft has promised that it will integrate a tutorial interface that will come packaged with Windows 8’s release, allowing people to learn how to use the interface without having to figure out the ropes on their own.

Miguel Leiva-Gomez

Miguel has been a business growth and technology expert for more than a decade and has written software for even longer. From his little castle in Romania, he presents cold and analytical perspectives to things that affect the tech world.

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How To Define Duty Rates In Tallyprime (Excise For Manufacturer)

 PDF

Different businesses have different requirements. While some businesses  deal with a single stock item and single type of transaction, whereas some businesses deal with multiple stock items, and different types of transactions and require a more complex statutory functionality.

Based on the demands of the business, you can select the kind of capability that you want.

Excise duty rates can be defined at company level when you deal in only one type of goods having a single duty rate.

ABC Company is a manufacturing unit for packaged drinking water. They sell 20l water cans. Let us see how excise tariff can be defined and applied in a scenario like this.

If you do not see this option, press F12 (Configure) and set the options Show more features and Show all features to Yes.

Set the option Set/alter Excise tariff details to Yes in the Excise Details screen.

Press Enter to save.

Press Ctrl+A to save the Excise Registration details.

To enter new tariff details or revised excise rate

Go to the Excise Tariff Details screen (shown above).

Enter the new excise Rate

Press Enter. The Tariff Details Applicability screen appears. Enter the Applicable From date.

Press Enter to save and return to Excise Registration Details screen.

You can also press Alt+W (Details) from the Excise Tariff Details screen, enter the Applicable From date and provide the tariff details with revised excise duty.

Create a duty ledger with the Type of Duty as CENVAT and the Duty Head as Basic Excise Duty.

On selecting the duty ledger created in a transaction, the duty rate is calculated as shown in the screen below.

ABC Company uses one tariff for all the stock items that they manufacture or deal with. Hence, the same duty ledger can be used for all stock items like Dew Drops Water Packet (500ml), Dew Drops Water Can (20l) and Dew Drops mini (500ml).

In addition to accounting masters like groups and ledgers, excise duty and tariff details can be defined in inventory masters such as stock group and stock item.

Royal Industries is a food processing company that manufactures waffles, wafers, and biscuits. All the goods that they manufacture and sell attract 6% excise duty, except for stock items that are coated with chocolate, which attract 12% excise duty.

Now let us see how defining stock rate at the group level will simplify the process for Royal Industries.

Enable the option Set/alter excise details in the Stock Group Creation screen.

To enter new tariff details or revised excise rate

Go to the Excise Tariff Details screen (shown above).

Enter the new excise Rate.

Press Enter. The Tariff Details Applicability screen appears. Enter the Applicable From date.

Press Enter to save and return to Excise Registration Details screen.

You can also press Alt+W (Details) from the Excise Tariff Details screen, enter the Applicable From date and provide the tariff details with revised excise duty.

Similarly, the group Waffles and Wafers (Chocolate Coated) can be created, and duty details defined appropriately as shown below:

The Excise Tariff Details screen for tax rate 12% appears as shown below:

To enter new tariff details or revised excise rate

Go to the Excise Tariff Details screen (shown above).

Enter the new excise Rate.

Press Enter. The Tariff Details Applicability screen appears. Enter the Applicable From date.

Press Enter to save and return to Excise Registration Details screen.

You can also press Alt+W (Details) from the Excise Tariff Details screen, enter the Applicable From date and provide the tariff details with revised excise duty.

Create the stock item under the group for which the duty rate has been defined. The stock items will inherit the excise tax details configured at the stock group level.

Similarly create stock item under the group Waffles and Wafers (Chocolate Coated). This item will inherit 12% excise duty configured in the stock group.

To enter new tariff details or revised excise rate, press Alt+W (Details) from the Excise Tariff Details screen. Enter the Applicable From date and provide the tariff details with revised excise duty.

Create a duty ledger with the Type of Duty as CENVAT. The Ledger Creation screen of excise duty ledger appears as shown below:

On selecting the duty ledger created in a transaction, the duty rate is calculated as shown in the screen below. 

The tax analysis of  this transaction shows that although only one excise duty ledger was selected in the transaction, duty of each stock item has happened according to the rate defined in the group.

Once defined at the group level, the tax rate can be applied to all the stock items classified under the group.

Duty rates can be defined at the ledger level. Based on the requirement of the business, tax configuration can be made either in the ledger master or in the stock item master.

GoIndia is a company that process and supply fuel to fuel stations. They sell petrol and diesel, both branded and unbranded. The duty rates for each one of their stock item is different. They will define the rates of duty in the stock item master level.

Let us see how they record the sale of diesel and unleaded petrol.

Enable the option Set/Alter excise details.

Press F12 (Configure) and set the option Enable multiple selection of Duty details to Yes.

Enter tariff details Tariff name, HSN code, and Reporting unit of measure.

To enter new tariff details or revised excise rate

Go to the Excise Tariff Details screen (shown above).

Enter the new excise Rate.

Press Enter. The Tariff Details Applicability screen appears. Enter the Applicable From date.

Press Enter to save and return to Excise Registration Details screen.

You can also press Alt+W (Details) from the Excise Tariff Details screen, enter the Applicable From date and provide the tariff details with revised excise duty.

On selecting the duty ledgers created in a transaction, the duty rates are calculated as shown in the screen below.

The tax analysis of  this transaction shows that duty has been calculated for each stock item based on the tax configuration made in the stock items.

How To View Form 27Q In Tallyprime

 PDF

Form 27Q is a Quarterly return for deduction of tax in respect of payments made to non-residents other than salary.

Statistics of Vouchers displays the total number of transactions pertaining to a period which are categorised as Included in return, Not Relevant in this Return and Uncertain Transactions (Corrections needed). The drill-down report of Total Vouchers displays the Statistics report comprising of voucher types with the corresponding voucher count.

Displays all vouchers that have the requisite information in their corresponding masters and transactions to comply with the requirements for filing the returns. These vouchers will be a part of TDS forms as applicable.

Booking Voucher: Displays the count of booking voucher that are recorded without TDS deduction to book the expenses.

Booking with Deduction Voucher: Displays the count of booking voucher that are recorded with TDS deduction details.

Deduction Voucher: Displays the count of all the deduction entries passed during the report period.

Reversal: Displays the count of all the entries recorded for TDS reversal.

Overridden by User: Displays the count the TDS vouchers that were recorded and saved by overwriting the pre-defined tax details.

Displays the count of all vouchers which are not a part of returns.

Select Not Relevant in this Return.

Select the category or voucher type as applicable.

Press Enter. The Voucher Register screen will display the list of excluded vouchers for the selected voucher type.

Select the transaction and press Enter to view it in alteration mode.

Displays the count of all vouchers with insufficient information. These vouchers contain TDS related information that are not included in the count of Included in return and Not Relevant in this Return.

In this section

Unable to determine TDS applicability for ledgers or stock items: This exception occurs when the expense/purchase ledger that has been debited in a transaction, has not been enabled for TDS. Also, the expense ledger has not been tagged to a specific expense category for TDS. Select a nature of payment to resolve this exception. To set the nature of payment:

Press

Spacebar

to select a group.

Press F5 (Ledger-wise) to view Ledger wise report.

Press F8 (Show Vouchers).

Press Alt+B (Nature of Payment).

Select a TDS Nature of Payment.

Press Ctrl+H (Change View)

You can display the details of a report in different views with additional details or for a specific period. You can also view other reports related to the current report.

Unable to determine the deductee type for party: This exception occurs when the deductee type of the party ledger is set to undefined. Select a deductee type to resolve this exception. To set the deductee type:

Press Enter on Unable to determine deductee type for party.

Press Spacebar to select the Name of the Ledger.

Press Ctrl+F4 (Deductee Type).

Select the required Deductee Type.

PAN not available for party: This exception occurs when the party ledger selected has been enabled for TDS but PAN has not been specified. Specify the PAN, and the applicability of PAN or the status of PAN application for the party. To enter PAN Details:

Press Enter on PAN not available for the Party.

Alternatively

Press Enter in the PAN No. field to go to the field PAN Status.

Select the applicable PAN Status.

Notification is not available for zero or lower rate: This exception occurs when a lower rate or zero rate deduction is recorded for a transaction, and the corresponding notification number is not defined for the party/expense ledger. Specify the notification details to resolve this exception.

In the drill down report for this exception, party ledgers that have been used to pass the zero rate/lower rate TDS entries will be listed. Identify the parties for which lower deduction/zero rate is applicable, select the relevant TDS Category, and provide the exemption notification number, applicability period, and the rate.

Unable to determine TDS applicability for duty ledgers: This exception occurs when the TDS duty ledger has not been classified under a TDS Category. Select a specific TDS Nature of Payment of TDS duty ledger to resolve this exception. To select the Nature of Payment:

Press Enter on Unable to determine TDS applicability of ledgers.

Select the Default Nature of Goods.

Unable to determine the tax rate for nature of payment: This exception occurs when the tax rate for the nature of payment has not been specified. Provide tax rate for the nature of payment to resolve this exception. To provide the tax rate:

Press Enter on Unable to Determine the Tax Rate for Nature of Payment.

Select Yes in the column Is Zero Rated, if required. Else, specify the rate of duty in the column Rate.

Press Enter.

Unable to determine the nature of payment in transaction: This exception occurs when the nature of payment in transaction has not been specified. Provide the nature of payment to resolve this exception. To select the nature of payment:

Press Enter on Unable to determine the nature of payment in transaction.

Select the required transaction, press Enter.

Select the nature of payment, or create the required nature of payment.

Press Enter.

Accept the screen. As always, you can press Ctrl+A to save.

Press Enter on No link is available with collection voucher.

Select the transaction and press

Alt+L

(Link All).

Unable to determine deductee details in cash transactions: This exception occurs in transactions where Cash has been selected in the field Party A/C name, but deductee details are not available. Select the appropriate party ledger to resolve this exception. To select the party ledger:

Press Enter on Unable to determine deductee details in cash transactions.

Select the Deductee Type and enter the PAN, if the details are not available in the ledger master.

Press Enter.

Accept the screen. As always, you can press Ctrl+A to save.

TDS deducted but not linked with expense/purchase transaction and Expenses/purchase returns not linked with expense/purchase transaction. These exceptions occurs when:

Press Enter on TDS deducted but not linked with expense/purchase transaction.

Press Spacebar to select the required booking vouchers.

Press Alt+R (Auto Fill) or Alt+L (Full) or Alt+V (Partial), as required.

Press Enter.

Advance payment is done via third party.

Press Enter on TDS deducted but not linked with expense/purchase transaction.

Press Alt+S (Direct Mapping).

Select Advance Payment.

Transactions accepted with conflicts: This exception occurs when the transactions recorded have conflicts or mismatches. Resolve the conflict to resolve the exception. To resolve this conflict:

Press Alt+J (Accept as is).

Press Enter to accept the voucher as is.

Unable to determine TDS applicability for duty ledgers: This exception occurs when the Type of duty/tax of TDS ledger is set to Others, and the option Is TDS applicable is set to Not Applicable. Select the nature of payment to resolve this exception. To resolve this exception:

Press Enter on Unable to determine TDS applicability for duty ledgers.

Press Spacebar to view the list of natures of payment.

Select the required nature of payment.

Accept the screen. As always, you can press Ctrl+A to save.

Bank Details are not available in Payment Voucher: This exception occurs when the bank details are not provided while record the TDS statutory payment voucher. Enter the payment details to resolve this exception. To resolve this exception:

Press Enter on Bank Details are not available in Payment Voucher.

Enter all the details.

To set the challan details for all the transactions in one-go, press Alt+S (Update Details), and enter the relevant details.

Press Enter to save the Challan Details.

Press Ctrl+A to save the TDS Challan Reconciliation screen.

Paid but not linked with TDS deduction Vouchers: This exception occurs when the TDS payment voucher is recorded without linking to the TDS booking voucher (purchase or journal voucher). To resolve this exception:

Press Enter on Paid but not linked with TDS deduction Vouchers.

Press Ctrl+Enter on the transaction to view the voucher and make the changes as needed.

Accept the screen. As always, you can press Ctrl+A to save.

Not able to determine the Type of Payment: This exception occurs when the TDS payment voucher is recorded without using stat payment feature. To resolve this exception:

Press Enter on Not able to determine the Type of Payment.

Press Spacebar to select the transaction and correct it.

The Deduction Details section denotes the type of deduction under which each of the Included transaction is grouped. Select the required deduction under Deduction Details, and press Enter.

To view the PAN number of each deductee:

Press F12 (Configure).

This section contains details of all TDS payment vouchers of the current period. Payments made to party, petty expenses, or any statutory payments other than that of TDS are not displayed here.

Select the required voucher and press Enter to view all the deduction vouchers recorded for the selected party.

To save Form 27Q, you need to save the Form 27Q Return, recompute the corrected return, overwrite the corrected report, save the recomputed valued as revised return, and export Form 27Q.

In this section

If the count of Uncertain Transactions is zero, a message appears as shown below:

If any master or transaction is modified or added after saving the return, the values can be recomputed. The recomputed information can be overwritten on the Form 27Q saved earlier or saved as a revised return.

For example, if the return was saved for the period 1-Apr-2024 to 30-Apr-2024, view the report for the same period.

The message The return values might have been changed, press Alt+W to recompute appears with a new section comprising details of:

Modified Masters: Displays the count of purchase and sales ledgers in which tax rates have been modified. Press Enter on Modified Masters to view the details.

Modified Vouchers: Displays the total count of vouchers which are Created, Altered, Cancelled and Deleted. To view the list of transactions captured against each modification type, press Enter on Created, Altered, Cancelled or Deleted vouchers row in which transaction count is displayed.

Press Enter to display the voucher alteration screen.

On recomputing the values of modified transactions, Form 27Q report displays two buttons, Alt+B (Overwrite) and Alt+H (Save as Revised).

Press Alt+B (Overwrite).

To save the recomputed valued as revised return without overwriting the information, press Alt+H (Save as Revised).

Press Alt+H (Save as Revised).

You can export the Form 27Q in text format.

Press Alt+B (Save Return) in Form 27Q report, to save the return (Form 27Q can be exported only after it is saved). The report closes on saving. Open Form 27Q again.

Press Alt+E (Export) and select E-Return to view the Export Report screen.

By default, File Format is SDF (Fixed Width) respectively.

In Folder path field enter or select the path to where the txt file to be exported.

By default, File Name as chúng tôi t which can be changed by the users.

Enter the Date.

Specify the required option in Is Regular Return filed for previous period.

Enter the Receipt No. /Token No.

The exported file (Form 27Q) is required to be validated with the File Validation Utility (a freely downloadable utility from NSDL website).

The latest version of the File Validation Utility (FVU), 7.5/7.6, is available. Accordingly, you can generate the Form 27Q text file in TallyPrime for filing TDS returns. However, you have to make a few updates in the text file before validating it in the FVU and filing TDS returns. This will ensure that your returns comply with the latest requirements.

The latest updates are regarding deduction of tax in case of specified senior citizen (under section 194P). Accordingly, the following new fields under the batch header information have been added:

Field 70: Count of Section 194P Details Record (Not applicable)

Field 71:  Batch Total of – Gross Total Income as per Section 194P Details (Not applicable)

For these changes, it is recommended that you open the exported text file of the return, as you will be able to update the batch header information easily.

In TallyPrime, export Form 27Q text file.

In Form 27Q report, press Alt+E (Export), select E-Return.

In the Export screen, configure the Folder Path, as needed, and select Send.

Open the text file (in Notepad) from the Folder Path.

Save the text file.

Now the Form 27Q text file is ready as per FVU 7.5/7.6. You can validate it in FVU 7.5/7.6 and proceed to file TDS returns.

How To Manage Outstanding Payables In Tallyprime

 PDF

When you make some purchases or obtain services from your vendors you need to keep track of all the payments that you have to make on the agreed timelines. All such pending or overdue payments to your parties are outstanding payables. You can manage outstanding payables in TallyPrime using Outstanding Payables report that gives you an overview of what your business owes for supplies, inventory, and services. Moreover, you can get an overview of the amount and the creditors to whom you owe money and how much you owe each creditor and how long the money has been owed. You can manage outstanding payables in TallyPrime that will help you to know the time-to-time expenses, avoid overseeing the outstanding payments that you owe to the creditors, and help you manage the cash-flow in your business.

Record and Track Dues: You can get an overview of the amount and the creditors to whom you owe money and how much you owe each creditor and the duration of such pending or outstanding payments. Managing your outstanding payables will help you to know the time-to-time expenses, avoid overseeing the outstanding payments that you owe to the creditors, and help you manage the cash-flow in your business.

Bill-by-Bill: At times, when you have made a credit purchase from your party, you can mutually agree with your party to make part payments and make the total payment within a specified time. In such a case, you can use the bill allocation capability in TallyPrime to create one or more bill references as per the breakup decided. Each bill reference can also be specified with a credit period or a due date.

In this section

When a company buys goods on credit or cash, Purchase voucher is used to record all the Purchase transactions of the company.

Open the purchase voucher screen.

Press

Ctrl+H

(Change Mode) to select the required voucher mode (Item Invoice, in this case).

Specify the supplier details.

Supplier Invoice No.

and

Date

: The invoice number and date should be the same as given in the corresponding sales bill.

Party A/c name

: Select

Cash

or

Bank

for cash purchases. For credit purchases, select the supplier ledger.

Note: You may want to maintain specific details about your suppliers, such as address with landmark, alternative contact number, and so on, in the invoices. In such cases, you can create party ledgers with the required details. In the

Suppliers

field of

Party Details

screen, select the required ledger.

In

Accounting Invoice

, you can select the purchase ledger under

Particulars

.

As in other transactions, you can create the item or ledger on the fly by pressing

Alt

+

C

.

In

Item Invoice

, select the stock item, enter the

Quantity

. The

Rate

will be auto-filled, if available for the stock item. However, you may choose to enter the

Rate

or

Amount

.

In

Accounting Invoice

, select the service ledger and enter the

Amount

.

Select additional ledgers, like transportation charges, insurance, or discount, if any.

What you see on the screen can vary based on your choices. Press

F12

(Configure) to change the options and

F11

(Features) to enable or disable features.

Set credit limit for parties

To set the credit limit in the party ledger:

On the party ledger screen, provide a value (in days or a date) for Specify credit limit. 

If you want to change the voucher date, press

F2

(Date).

Select the mode of receipt.

When you create a Company in TallyPrime, the system creates two ledgers by default –

Cash

and

Profit & Loss A/c

.

Select the ledger for which you are making the receipt and specify the amount. For example, Commission Received.

In TallyPrime, you will find patterns to do certain tasks, and these patterns are consistent across the product. For example, when recording a transaction, press

Alt

+

C

to create a ledger, without leaving the voucher. This pattern works across the product. Anywhere in the product, in ledger selection field, press

Alt

+

C

to create it.

Under

Amount

, specify the commission amount.

Provide

Narration

, if any, and accept the voucher. As always, you can use

Ctrl+A

to accept.

You can view a ledger account with the corresponding voucher details.

Select the required

Ledger

.

Press

Alt+F8

(Columnar) to view details of vouchers in separate columns.

Cumulative balances or running balance for Ledger Voucher reports

Press

F12

(Configure) on

Ledger Vouchers

screen.

Set the option

Show Running Balance

to

Yes

to see the running balances for Ledger Voucher report.

You can also access Ledger Vouchers by drilling down from different statements, such as Group Summary and Monthly Summary .

The group summary statement shows the closing balances of the accounts of a selected group for a specified period up to the current date. The default view is that of sub-groups within a group.

To view group summary

If you maintain bills with specific reference numbers for easy tracking in the future, you can use the bill-wise option in the party master. Next time you record a transaction for that party, TallyPrime will internally track the bill by using the voucher number as the reference number. All earlier transactions recorded for that party without the bill-wise option will be tracked as On Account. Whether there is a reference number or not, such dues can be settled by passing the corresponding payment entries.

In this section

In the Party Master screen:

Note: On maintaining balances bill-by-bill, all bills generated earlier are reflected as On Account.

To get the option in party master: 

Ensure that in

F12

of party master, the option

Provide bill-wise

details is set to

Yes

.

You can make payments to settle any specific purchase bill to ensure proper accounting for the credit transactions.

If you want to change the voucher date, press

F2

(Date).

Select the mode of payment.

When you create a Company in TallyPrime, the system creates two ledgers by default –

Cash

and

Profit & Loss A/c

.

Select the ledger for which you are making the payment and specify the amount. For example, Rent.

In case the ledger is not available, press

Alt

+

C

to create Ledger on the fly. In Ledger Creation (Secondary) screen, give ledger name Rent and select the group

Indirect Expense

in the Under field.

Alternatively, you can settle the purchase bill from the Ledger Outstanding report.

When you make a purchase of large amount and unable to pay at a time, and have agreed to make partial payments in regular intervals, you can split such purchases into multiple bills. This helps you to track the payment breakup against the bills created and manage your outstanding payables systematically.

In this section

In the Party Master screen:

Note: On maintaining balances bill-by-bill, all bills generated earlier are reflected as On Account.

To get the option in party master: 

Ensure that in

F12

of party master, the option

Provide bill-wise

details is set to

Yes

.

You can record a sale and split the amount into multiple bills using the Bill Allocation feature.

To split the sales bill into multiple bills, when recording a credit purchase: 

In the voucher screen, press

Enter

on the total amount field to open the

Bill-wise Details

screen.  

The bill name that you specify here can be used as the bill reference when you record a payment transaction to settle your dues.

Fill in the

Amount

based on how you want the total amount to be split.

The Ledger Outstandings report displays the details of the outstanding payables – Opening Amount, Pending Amount, Due Date and Overdue days for the selected party. All the purchases recorded bill-wise or without any bill references and the corresponding payment entries recorded are displayed in this report. You can make the payments that are pending with your parties using the report.

In this section

You can print or export Reminder Letters from the Ledger Outstanding report by enabling the option Print Reminder Letter in the Print Report or Export Report accordingly.

Press

Alt+F2

(Period): to change the period

Press

Alt+F4

(Ledger): to display the list of ledgers. Select the required ledger to view outstandings for the selected ledger.

Press

Alt+F5

(Detailed): De

tailed or press Alt+F5 to display the Ledger Outstandings report in the detailed view. In the detailed view, the following will be displayed:

Voucher details

: Voucher Date, Voucher Type(s),Voucher Number(s), and Amount

Inventory details

: Quantity, Stock Item, and Rate

Press

F6

(Ageing Method): To display the Age wise analysis of the Ledger Outstandings report.  For more information, refer Ageing Analysis report.

 

Press Ctrl+J (Exception Reports): You can view the exceptions related to the data displayed in the current report by pressing Ctrl+J (Exception Reports), without closing the report. 

Press

Alt+B

(Settle Bills): the Bill Settlement option helps to settle the selected or all bills from the Ledger Outstandings report.

Press

F12

(Configure): To change the report configurations, as required.

Press

Alt+F12

(Range): to use the Range Filter option to search for specific bills from the list of bills outstanding. Users may filter the transactions based on the Date , Original Amount, Pending Amount , Ledger , Reference number . etc. This is a useful tool, as it makes the process of finding specific bills fast, easy and simple.

Press

Alt+R

(Remove Line): To remove a line item from the Ledger Outstandings report.

This report helps to view the group-wise outstanding details, including the debit and credit balances. You can configure the report to see only the overdue payments and make payments to your parties accordingly.

In this section

You can print or export Reminder Letters from the Ledger Outstanding report by enabling the option Print Reminder Letter in the Print Report or Export Report accordingly.

Press

Alt+F5

(Detailed):

To view the report in detailed mode.

Press

Alt+F2

(Period): To change the period.

Press

Alt+F4

(Group): To display the list of groups. Select the required group to view outstandings for the selected group.

Press

F5

(Ledger-wise): To display only the ledgers and their debit & credit balances.

Press

Alt+F6

(Ageing Method): To display the Age wise analysis of the Group Outstandings report. For more information, refer Ageing Analysis report.

Press

F8

(Ledger-wise Bills): To display the ledger-wise breakup of the Group Outstanding report. 

Press

Ctrl+F8

(Bill-wise): To display all the bills outstanding from the ledgers falling under the selected group.

Press

F12

(Configure): to configure the Group Outstandings report. 

Press

Ctrl

+

F12

(Value) to filter the vouchers based on the conditions you specify. For example, if you want to view the godowns from which sales had happened, use the

Value

filter and set the voucher condition to

Sales

.

How To Round Off Invoice And Ledger Values In Tallyprime

 PDF

Round Off Invoice and Ledger Values

Rounding off values in Invoices or Ledgers helps in viewing the important digits in the financial statements. The need for rounding off may arise when the transactions are recorded together with different rates, discount percentages and even with tax rates. To round off the value of the invoice or the value of the tax ledger in the invoice, you can use the round-off feature in TallyPrime. You can also create a voucher class and when you are recording the voucher using that voucher class, the round-off ledger automatically appears in the voucher. 

In your business, while recording the transactions depending on the rates of the goods or the percentage of discount given or even at the time of charging tax percentage the total invoice value may appear in decimal. You can continue to have the invoice value in decimal, however, while viewing the financial statements such values with decimals may become difficult to read. To simplify the view of financial statements TallyPrime provides an option to round off such values and emphasize the important digit.

You may want to maintain a ledger exclusively to round off the invoice value when you record an invoice. For this, you can create an Invoice Rounding ledger under Indirect expenses in TallyPrime.

Create a ledger for round-off.

Create the ledger under Indirect Expenses.

Type of Ledger – Select Invoice Rounding.

In Rounding method, select the appropriate rounding method.

Not Applicable – Keep the invoice value as is.

For example, if the invoice value is 125.60, the invoice value is rounded off to 125 (when the Rounding limit is set to 1), and the round-off ledger will have the value (-)0.60.

Normal Rounding – Round off the invoice value to the following:

Nearest lower number that is a multiple of the rounding limit specified if the decimal value is less than 0.5. For example, if the invoice value is 125.30, the value is rounded off to 125, and the round-off ledger shows the value (-)0.30.

Nearest higher number that is a multiple of the rounding limit specified if the decimal value is more than or equal to 0.5. For example, if the value is 125.60, the value is rounded off to 126, and the round-off ledger shows the value 0.40 (when the Rounding limit is set to 1).

Upward Rounding – Round off the invoice value to the nearest higher number, a multiple of the specified rounding limit. For example, if the invoice value is 125.30, the value is rounded off to 126, and the round-off ledger shows the value of 0.70 (when the Rounding limit is set to 1).

For Rounding limit, enter the number to calculate the nearest number as a multiple of this number to round off. For example, if you mention 1, the invoice value is rounded off to the nearest number which is a multiple of 1. In this case, if the original invoice value is 12.30 and the Rounding Method is set to:

Normal Rounding: The invoice value will be rounded to 12.

Upward Rounding: The invoice value will be rounded to 13.

Downward Rounding: The invoice value will be rounded to 12.

As always, press Ctrl+A to save. 

Use the round-off ledger in the sales invoice. The invoice value is rounded off, and the difference in value due to rounding off is displayed as a positive or negative number.

As always, press Ctrl+A to save.

Similarly, if you mention 5 as the Rounding Limit, the invoice value is rounded off to the nearest number which is a multiple of 5. For example, if the original invoice value is 14 and the Rounding Method is set to:

Normal Rounding: The invoice value will be rounded to 15.

Upward Rounding: The invoice value will be rounded to 20.

Downward Rounding: The invoice value will be rounded to 10.

You may want the round-off ledger to appear automatically in the invoice to avoid selecting it every time you record a transaction. For this, you can create a voucher class in TallyPrime with the round-off ledger and use this voucher class to automatically display the round-off ledger in the invoice.

Create a voucher class for sales.

Enter a name for the voucher class under Name of Class.

Press Enter to view the Voucher Type Class screen.

Under Additional Accounting Entries, select a ledger created under Indirect Expenses for accounting invoice round-off. In this ledger, set Use ledger for auto calculation of to Not Applicable.

For the Type of Calculation, select As Total Amount Rounding.

In Rounding method, select the appropriate rounding method.

Not Applicable – Keep the invoice value as is.

Downward Rounding – Round off the invoice value to the nearest lower number, a multiple of the specified rounding limit. For example, if the invoice value is 125.60, the invoice value is rounded off to 125 (when the Rounding limit is set to 1), and the round-off ledger shows the value (-)0.60.

Normal Rounding – Round off the invoice value to the following:

Nearest lower number that is a multiple of the rounding limit specified if the decimal value is less than 0.5. For example, if the invoice value is 125.30, the value is rounded off to 125, and the round-off ledger shows the value (-)0.30.

Nearest higher number that is a multiple of the rounding limit specified if the decimal value is more than or equal to 0.5. For example, if the value is 125.60, it is rounded off to 126, and the round-off ledger shows the value 0.40 (when the Rounding limit is set to 1).

Upward Rounding – Round off the invoice value to the nearest higher number, a multiple of the specified rounding limit. For example, if the invoice value is 125.30, the value is rounded off to 126, and the round-off ledger shows the value of 0.70 (when the Rounding limit is set to 1).

For Rounding Limit, enter the number to calculate the nearest number as a multiple of this number to round off. For example, if you mention 5, the invoice value is rounded off to the nearest number which is a multiple of 5. To look at a few more detailed examples, refer to the Invoice Round Off – Using Predefined Ledger section.

As always, press Ctrl+A to save.

Use the voucher class in the sales invoice.

The round-off ledger appears automatically.

As always, press Ctrl+A to save.

By using the Voucher Class you don’t have to add the rounding off ledger every time you record a transaction. It automatically gets added to the voucher once the voucher class is selected.

You can round off a particular ledger value instead of using the rounding off ledger to round off the invoice value. To do so you need to configure the specific ledger with the rounding off details. When you record an invoice, you may want to round off the value of the tax ledger. You need to configure the tax ledger created under Duties and Taxes with the appropriate rounding method.

Alter the ledger created under Duties & Taxes.

For the Rounding method, select the appropriate rounding method.

Not Applicable – Keep the invoice value as is.

Downward Rounding – Round off the invoice value to the nearest lower number, a multiple of the specified rounding limit. For example, if the invoice value is 125.60, the invoice value is rounded off to 125 (when the Rounding limit is set to 1), and the round-off ledger shows the value (-)0.60.

Normal Rounding -Round off the invoice value to the following:

Nearest lower number that is a multiple of the rounding limit specified if the decimal value is less than 0.5. For example, if the invoice value is 125.30, the value is rounded off to 125, and the round-off ledger shows the value (-)0.30.

Nearest higher number that is a multiple of the rounding limit specified if the decimal value is more than or equal to 0.5. For example, if the value is 125.60, it is rounded off to 126, and the round-off ledger shows the value 0.40 (when the Rounding limit is set to 1).

Upward Rounding – Round off the invoice value to the nearest higher number, a multiple of the specified rounding limit. For example, if the invoice value is 125.30, the value is rounded off to 126, and the round-off ledger shows the value of 0.70 (when the Rounding limit is set to 1).

For Rounding limit, enter the number to calculate the nearest number as a multiple of this number to round off. For example, if you mention 5, the invoice value is rounded off to the nearest number which is a multiple of 5. To look at a few more detailed examples, refer to the Invoice Round Off – Using Predefined Ledger section.

As always, press Ctrl+A to save.

As always, press Ctrl+A to save the Sales Voucher.

The invoice values in decimal can be a bit difficult to read while viewing the financial statements. To simplify the view of financial statements and ensure maximum readability to the users, TallyPrime helps you round off such values.

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