COMPURISED ACCOUNTING WITH GST

SOP 1:

STEP 1: Creation of Company

Company Creation:
• Open Tally ERP9 >> Tap on “W: Work in Educational Mode”
• Company Info>> Click on Create Company
• Create a company in the name of M/s Bitwise Trading
Company with the given details.
• Enter the details such as Name, Address, State, Website, Email-
Id and Financial year begins on 01/04/2020.
• Click on Enter, it will ask to Accept the details of the Company
• Click on “YES” to Accept and save the details.
Enabling the Features:

• Go to Features or Click F11

• Inside “Company Features”>> Click on “Accounting Features”
• Click on “Accounts with Inventory” >> Type Yes
• Click on Enter, it will ask to Accept the changes
• Click on “YES” to Accept and save the changes.
STEP 2: Creation of Ledger
• Inside Gateway of Tally
• In the Masters>> Click on “Account Info”
• Click on Ledger>>Under “Single Ledger” Category select “Create”
• Create the Ledgers with following List of Groups:

Ledger Under Groups

Capital A/c Capital Account
Purchase A/c Purchase Account

Sharda Steel A/c Sundry Creditors

Salary A/c Indirect Expense
Bank A/c Bank Accounts

Sales A/c Sales Account

Interest A/c Indirect Income

• To view the list of ledgers: Account Info>>Ledger>>Single Ledger>>Display

STEP 3: Voucher Entries
• To view the list of vouchers types: Masters >> Account Info>>
Voucher Types
>> Display

Debit Credit
Date Voucher Type Particular Entries
Amount Amount

5,00,000
Dr. Cash
01/04/2019 Receipt
Cr. Capital A/c
5,00,000
20,000
Dr. Purchase A/c
01/04/2019 Purchase
Cr. Sharda Steel A/c
20,000
5,000
Dr. Salary A/c
02/05/2019 Payment
Cr. Cash
5,000
50,000
Dr. Bank of India A/c
01/06/2019 Contra
Cr. Cash
50,000
25,500
Dr. Cash
02/06/2019 Sales
Cr. Sales A/c
25,500
10,000
Dr. Purchase A/c
02/07/2019 Purchase
Cr. Cash
10,000
2,000
Dr. Cash
02/12/2019 Receipt
Cr. Interest A/c
2,000
STEP 4: To view various reports
To view Trial Balance - Display > Trial Balance > Detailed Trial Balance

1. To view Profit and Loss A/c – Reports >> Profit & Loss A/c
2. To view Balance Sheet - Reports >> Balance Sheet >>
Detailed

3. To view Day Book - Display > >Day Book > >Detailed (Alt +
F1)
SOP 2: TITLE: CREATION OF COMPANY APPLYING GST WITHIN STATE.
AIM:
With the help of any open source or free education version accounting software
create a company using following details :

Enter the following transactions in appropriate vouchers using by applying GST.

Print GST computation Report and Tax Invoice
1) On 01/08/2019 purchased 150 pieces of Leather Handbags @ Rs.2500 per piece,
with GST 28% from Genuine Leather Bags, Sai Baba Nagar, D.P.Road, Navi Mumbai,
Maharashtra, Pin code 400039 with GSTIN 27LMNOP5678V2Z2.
2) On 02/09/2019 Sold 80 pieces of them @Rs.3500 per piece, GST 28%, to M/s
Shoppers Stock ,Pari Industrial Estate, Chiplun, Maharashtra, Pin code 415605 with
GSTIN 27JKLMN4321C1Z2
Print GSTR-2 and Sales Tax Invoice

SOLUTION :
The above transactions clearly indicate that the purchase and sale both are within
Maharashtra State.
Therefore 28% GST is applicable as 14% SGST and 14% CGST

STEP 1 : CREATE NEW COMPANY

i) Create a new company in the name of M/s Bags and Baggage Traders with the
given address and pin code, financial year begins on 1/04/2019.

ii) Enable GST features by selecting Features (F11) -- Statutory and Taxation
-Enable Goods and Service Tax(GST) -yes

Set/alter GST details - Yes.

Type State Maharashtra, GSTIN  27STUVW1234C2Z1

STEP2: CREATE THE FOLLOWING LEDGER ACCOUNTS.

Accounts Info  Leger  Single  Create

Ledger Group Details to be filled

Purchases Purchase 1. Is GST Applicable – ‘Applicable’,
Leather Accounts 2. Set/Alter GST Details – ‘Yes’,
Handbags 3. Nature of transaction–
A/C ‘Purchase Taxable’, (from
configuration
make yes to ‘Show all GST tax
types’)
4. Type Integrated tax as ‘28%’
then
Central Tax and State Tax will
automatically reflects as ‘14%’
and ‘14%’ respectively;
5. Type of supply –‘Goods’)
After Set/Alter GST Details – ‘Yes’,
GST Details Screen will appear select
Nature of transaction – ‘Purchase Taxable’
GST Details-> Nature of Transaction->
Purchase Taxable Show all GST
tax types -> Yes
Tax type - Integrated Tax - 28%; then Central Tax and State Tax will
automatically reflect as ‘14%’ and ‘14%’ respectively. Cess 0% and then press
Enter Key
Ledger Group Details to be filled

Sales Leather Sales Account 1. Is GST Applicable – ‘Applicable’,

Handbags 2. Set/Alter GST Details – ‘Yes’
3. Nature of transaction – ‘Sales
Taxable’ (from configuration make
yes to ‘Show all GST tax types’)
4. Type- Integrated tax as ‘28%’
then Central Tax and State Tax will
automatically reflects as ‘14%’
and ‘14%’ respectively;
5. Type of supply – ‘Goods’
Same Steps to be followed for creating Sales Leather Handbags

SGST A/c uties and Taxes 1. Type of Duty/Tax - ‘GST’,

2. Tax Type – ‘State Tax’,
3. Percentage of Calculation – ‘0%’

CGST A/c Duties and Taxes 1. Type of Duty/Tax - ‘GST’,

2. Tax Type – ‘Central Tax’,
3. Percentage of Calculation – ‘0%’

M/s Sundry Debtors Fill the details with PIN code

 Shoppers
Stock
Genuine Sundry Fill the details with PIN code
Leather Creditors
Bags

STEP.3. CREATE INVENTORY DETAILS :

(a) Create Units of Measure

Gate of Tally Inventory/Inventory Info  Unit of Measure Create

Type Simple
Symbol Pcs
Formal Name Pieces
Unit Quantity Code (UQC) PCS-PIECES
No of decimal places 0
Accept ---Yes
(b) Create Stock groups or Category as ‘Bags’
Gate of Tally Inventory/Inventory Info  Stock Group Create

Name Bags
Under Primary
Should quantities of items be added? No
Set/alter GST Details Yes

GST Details for Stock Groups:

Bags
Taxability : Taxable
Tax Type : Rate
Integrated Tax : 28%
Cess : 0%

(c) Create Stock Item/Product as ‘Leather Handbags’ with GST rate 28%
Gate of Tally Inventory/Inventory Info  Stock Item -Create
Name Leather Bags
Under Bags
Units Pcs
GST Applicable Applicable
 Set/alter Yes
Types of Supply Goods

GST Details for Stock Items:

Bags
Calculation type :Onvalue
Taxability : Taxable
Tax Type : Rate
Integrated Tax : 28%
Cess : 0%

STEP 4. CREATE PURCHASE AND SALES VOUCHERS :

1) Purchase Voucher:
Accounting Vouchers -> (Purchase Voucher) --> Type Voucher
 Date as 1/04/2019
 Supplier Invoice No.
 Party’s name field : Genuine Leather Bags
 Purchase Ledger field  Select Purchase Leather Handbags
 Select Name of the item/product as Leather Handbags
 Enter Quantity as 150 and Rate Rs.2500
 Select‘SGST
 Select ‘CGST’
 Save/Accept.

2) Sales Voucher :
Accounting Vouchers > Select Sales Voucher > Enter Voucher
 Date as 02/09/2019
 Party’s name field : M/s Shoppers Stock
 Sales Ledger field – Select Sales Leather Handbags
 Select Name of the item/product as Leather Handbags
 Enter Quantity 80 units and Rate Rs.3500
 Select ‘SGST’
 Select ‘CGST’
 Save/Accept

STEP 5. DISPLAY REPORTS :

 1) Tax Invoice i.e. Sales Invoice- Reports Display  Day Book
Sales Voucher
2) GST Reports  Display  Statutory Reports GST  GSTR2
iii) GST Annual Computation  in Pdf form(print mode)

Sales Tax Invoice

GSTR 2
 SOP- 3

TITLE: CREATION OF COMPANY APPLYING GST WITHIN STATE.

AIM:
With the help of any open source or free education version accounting
software create a company using following details :
Company name: M/s Swastik Garment Supplier.
Company Address: M.G.Road Industrial Estate, Aurangabad ,
Maharashtra pin code431001.
Website: www.swastikgarment.com
Email Id: [email protected]
GSTIN:. 27KLMNA4321V1Z2

Enter the following transactions in appropriate vouchers using by applying

GST. Print GST computation Report and Tax Invoice
1) On 01/07/2017 purchased 150 pieces of T-shirt @ Rs.450 per piece, with GST 12%
from M/s jalaram Textile, 1/05 Sector B , Gandi nagar , Aurangabad Gujarat , Pin
code 382010.
2) On 02/07/2017 Sold 100 pieces of T-shirt @Rs.600 per piece, GST 12%, to M/s Dress
Align Garment , Shridi Ahmednagar , Maharashtra - 432107.

Print GST Computation Report and sales Tax invoice

SOLUTION :
The above transactions clearly indicate that the purchase is out of
Maharashtra State therefore Only IGST is applicable i.e. Integrated
GST
Sale is within Maharashtra state, therefore. 12% GST is applicable as
06% SGST and 06% CGST

STEP 1 : CREATE NEW COMPANY

i) Create a new company in the name of M/s swastik Garment Supplier, College road
, Nashik, Maharashtra 422005 with the given address and pin code, financial year
begins on 1/04/2017.
ii) Enable GST features by selecting Features (F11) -- Statutory and Taxation -
Enable Goods and Service Tax(GST) - yes

Set/alter GST details - Yes.

Type State Maharashtra, GSTIN 27KLMNA4321V1Z2

STEP2: CREATE THE FOLLOWING LEDGER

ACCOUNTS.
Accounts Info Leger Single Create

Ledger Group Details to be filled

Purchases Purchase Accounts 1. Is GST Applicable – ‘Applicable’,

A/C 2. Set/Alter GST Details – ‘Yes’,
3. Nature of transaction– ‘Purchase
Taxable’, (from configuration
make yes to ‘Show all GST tax types’)
4. Type Integrated tax as ‘28%’ then
Central Tax and State Tax will
automatically reflects as ‘14%’
and ‘14%’ respectively;
5. Type of supply –‘Goods’)
After Set/Alter GST Details – ‘Yes’,
GST Details Screen will appear select Nature of
transaction – ‘Purchase Taxable’ GST Details->
Nature of Transaction->
Purchase Taxable Show all GST
tax types -> Yes
Tax type - Integrated Tax - 28%; then Central Tax and State Tax will
automatically reflect as ‘14%’ and ‘14%’ respectively. Cess 0% and then press Enter
Key
Ledger Group Details to be filled
Sales A/C Sales Account 1. Is GST Applicable – ‘Applicable’,
2. Set/Alter GST Details – ‘Yes’
3. Nature of transaction – ‘Sales
Taxable’ (from configuration make yes to
‘Show all GST tax types’)
4. Type- Integrated tax as ‘28%’
then Central Tax and State Tax will
automatically reflects as ‘14%’ and ‘14%’
respectively;
5. Type of supply – ‘Goods’
 Same Steps to be followed for creating Sales A/C

SGST A/c Duties and 1. Type of Duty/Tax - ‘GST’,

Taxes 2. Tax Type – ‘State Tax’,
3. Percentage of Calculation – ‘0%’

CGST A/c Duties and 1. Type of Duty/Tax - ‘GST’,

Taxes 2. Tax Type – ‘Central Tax’,
3. Percentage of Calculation – ‘0%’

M/s Sundry Debtors Fill the details with PIN code

Dress
Align
Garment
M/s Jalaram Sundry Creditors Fill the details with PIN code
textile
IGST Duties and 1. Type of Duty/Tax - GST,
Taxes 2. Tax Type - Integrated tax ,
3. Percentage of Calculation 0%

STEP.3. CREATE INVENTORY DETAILS :

(a) Create Units of Measure

Gate of Tally Inventory/Inventory Info Unit of Measure Create

Type Simple
Symbol Pcs
Formal Name pieces
Unit Quantity Code (UQC) PCS-PIECES
No of decimal places 0
Accept ---Yes
(b) Create Stock groups or Category as ' T-Shirt ’
Gate of Tally Inventory/Inventory Info Stock Group Create

Name T-shirts
Under Primary
Should quantities of Items be No
added?
Set/alter GST Details Yes
 GST Details for Stock Groups: Bags
Taxability : Taxable
Tax Type : Rate
Integrated Tax: 12%

Create Stock Item/Product as ‘T-Shirt’ with GST rate 12%

Gate of Tally Inventory/Inventory Info Stock Item - Create
Name T-shirts
Under Primary
Units pcs
GST Applicable Applicable
Set/alter Yes
Types of Supply Goods

GST Details for Stock Items: Bags

Calculation type : Onvalue
Taxability : Taxable
Tax Type : Rate
Integrated Tax : 12%
Cess : 0%

STEP 4. CREATE PURCHASE AND SALES VOUCHERS :

1) Purchase Voucher:
Accounting Vouchers -> (Purchase Voucher) --> Type Voucher
• Date as 1/04/2017
• Supplier Invoice No.
• Party’s name field : M/s Jalaram Textile
 • Purchase Ledger field Select Purchase
• Select Name of the item/product as T-shirts
• Enter Quantity as 150 and Rate Rs.450
•
Select IGST

Save/Accept.

2) Sales Voucher :

Accounting Vouchers > Select Sales Voucher > Enter Voucher

• Date as 02/09/2017
• Party’s name field : M/s Dress Align Garment
• Sales Ledger field – Select Sales Voucher
• Select Name of the item/product as T-shirts
• Enter Quantity 100 units and Rate Rs.600
• Select ‘SGST’
• Select ‘CGST’
• Save/Accept

STEP 5. DISPLAY REPORTS :

1) Tax Invoice i.e. Sales Invoice- Reports Display Day Book
Sales Voucher
2) GST Reports Display Statutory Reports GST GSTR2
ii) GST Annual Computation in Pdf form(print mode)