With the GST rollout, it is very important for the businesses to keep themselves GST compliant. Many people are looking for the clarifications on how to record the transactions under GST in accounting softwares. Recording transactions in the right manner is important for claiming the right ITC (Input Tax Credit). Many GST compliant softwares are available in the market such as Cleartax, Tally etc.
Use Tally for Accounting, ClearTax for GST
In this article we will explain you how to record Sales invoice in Tally release.ERP 9 Release 6 for GST. Also you can integrate your Tally Solutions with ClearTax GST
Sales can be of two types :
- Local Sales on which CGST and SGST are applicable.
- Interstate Sales on which IGST is applicable.
Before making sales entry in Tally, you need to create ledgers relates to sales.Let’s first understand the creation of Ledgers
You must create the following types of sales ledger and fill the related information required to create these ledgers :
Under Party account,you must also mention whether the party is composite dealer, consumer, registered or unregistered dealer.
Steps to Create Sales Invoice in Tally.ERP 9 Release 6 for GST
Step 1. Go to Gateway of Tally > Accounting Vouchers > F8 Sales.For invoice no,write the serial number of the bill.
Step 2. In Party A/c name column, select the party ledger or the cash ledger.
Step 3. Select the relevant sales ledger. If it is local sale ,then select sales ledger for local taxable sales and if it is interstate sale,then select the sales ledger for interstate sales.
Step 4. Select the required items, and specify the quantities and rates.
Step 5. In case of local sales, select the central and state tax ledger.If it is interstate sales,select the integrated tax ledger.
Depending on your requirements, you can include additional details in your invoice by clicking F12: Configure such as buyer’s order no,delivery note no etc.
View GST details
You can view the tax details by clicking A: Tax Analysis. Click F1: To view the detailed tax break-up.In the sales invoice, press Alt+P to print the invoice in the required format.For multiple copies: Press Alt+P and then Alt+C to select the number of copies.
In case you want assistance only in terms of filing returns ,then you can use ClearTax GST. It easily integrates with Tally, Excel & other accounting software.You can import invoice level data for Sales & Purchase in the cleartax GST and then it will calculate the data points to be filled on various GSTR forms. It automatically populates a lot of data to make sure the return is error free.
Also read our article on How to create purchase invoice in Tally ERP 9 Release 6 under GST.