In business especially in hospitality business you do come across many vendors. Most of it are from GST vendors and in order to make proper accounting settlement it is important to create GST ledgers so that all of these transactions needs to be well documented and properly maintained. In the tally prime the registration of GST ledger needs to be in the form of regular and you should have GST no. of GSt vendors. It is important as while calculating all of these we need to provide central GST and then followed by state GST and ours receipt and journal side needs to be same at both credit and debit side. It is important to provide correct GST number of particular vendor so that at any point of time receipt and juournal segment must show similar cash accountings.
With GST ledger creation and while putting values inside journal entry and receipt entry you will find that what particular amount hotel will receive and then state GST money to state and then central GST to center. In this way, yours accounts remain correct and intact. In the followings we will discuss how to create GST ledger creation. Ledge in tally means vendors or for hospitality business it is customers who can be come as individual or can come with GST and for this in the IDS system you can look details on the customer receipts and money receipts and then you will know whether these particular customer registered as individual or in terms of GST. If particular customer comes under GST then, you should move that particular customer to GST ledger instead of individual ledger inside TallyPrime.
- Double click on TallyPrime icon on desktop shortcut.
- Now you enter TallyPrime. From list of companies. Select yours company and then press the financial year and then it will reach to TallyPrime dashboard.
- From list of companies you should not chose companies with edited suffix but you should chose company that has no edited suffix tab select it and then reach to TallyPrime dashboard.
- From Gateway to TallyPrime chose CREATE
- Then from List of Masters and then from ACCOUNTING MASTERS chose LEDGERS
- Now you reach to LEDGER CREATION
- In the NAME segment write down Name of company,
- In the ALIAS segment write down alternative name of company
- UNDER Sundry Debtors (Current Assets)
- MAINTAIN BALANCES BILL-BY-BILL— No
- In the STATUTORY DETAILS: IS TDS DEDUCTABLE—No
- In STATUTORY DETAILS—IS TCS APPLICABLE–No
- In MAILING DETAILS—NAME : Here name will be auto filled by TallyPrime
- In MAILING DETAILS—ADDRESS:
- In MAILING DETAILS—STATE: Chose from state and union territories dropdown list
- In MAILING DETAILS—chose STATE, COUNTRY, PINCODE
- In BANKING DETAILS—provide bank details—NO
- In REGISTRATION TYPE– REGULAR
- GST—Provide GST number of vendour
- SET/ALTER GST DETAILS: NO
