GST with Tally JSS & Associates Chartered Accountants Thane CPE Study Circle Thane 16/07/2017 - Sunday CA Jaideep Sahasrabudhe Bcom / FCA / DISA / FAFD / Con Audit G - Great S - Scope For T - Tally List of Topic • Activating Tally In Running Company . • Care to be taken while Activating GST in Running company • Requirements • Create a company with GST • Account Masters creation / Updating • Stock Master creation / Updating • Creating Ledgers for GST • Where and how to activate rates for GST • How To Pass Entries in tally for GST • Generate of Returns 1 and 2 Pre Requirement • First Complete your Books of accounts up to 31.03.2017 • Then pass all the entries up to 30.06.2017 • Complete the BRS up to 30.6.2017 • Take Backup of your present company • Data Back up in folder mode and • Tally Back up in file mode also • Need to Allocate all Debtors and Creditors on Bill wise basis , ( Also Non Trading Items ). • Find out HSN and ASC code applicable to your company good and services • Obtain all Details like Address , State , Country / GST no of all your Debtors and Creditors and update in Master • Find out Debtor / Creditor Type Registered / Unregister / Composite / Consumer / Exporter / SEZ or E commerce operator Activating Tally In Running Company Activating Tally In Running Company • If you have multiple locations and different GST No Then Accounts need to be split • Now you can not maintain books in one tally company ,Two or More companies per GST need to be maintained • But Your companies multiple location can be maintained with one GSTN no. • And you can maintain ledger for Debtors and Creditors with multiple locations also. Existing Company Steps -- • Official License is required if not then renew Tally TSS • If very old version of tally • Then upgrade first to any version Tally ERP 9 5.x • Then Migrate to Ver 6.0.1 • And Open Each Company in the new Version • Split the company ( Its Optional ) • See Display Menu > List of Accounts > See the Total Ledgers / Group available in Company • CNTR + I > check the stock Items available in company • Take the printout of TB as on 30.06.2017 before you split the company • Delete unnecessary Ledgers and groups • Delete unwanted stock items Existing Company Steps -- • Is it necessary to integrate stock with accounts • Best if you integrate • ( optional ) if you want. • Benefits also and problems also • CA or Client need to take call on this issue • Entries with all voucher types i.e Sales / Purchase / Debit / Credit Notes , etc Existing Company Steps -- Whether to activate Stock in Tally For Following Category Required • For Traders • For Manufacturer • For Exporters • For Importer • For Job worker For Following Not required • Service Provider F11 – F1 Accounts Only to set No VVIP to activate • Practically deactivate Edit and Delete option in tally for vouchers entered • Delete will always change the Invoice Number • So necessary to have manual numbering for invoice • No Back dated entries in tally • Strict security controls need to introduce if want to submit returns from tally • Exempted and taxable goods cannot be part of one invoice • No Auto Pop up of HSN and ASC code so find the same and enter it in creation of stock item for good and at ledger for services • Each bill necessary for B2B • For B2C Bill necessary for Rs 200/- and above • For service need to enter the voucher in account invoice mode • For exp also as far as possible enter as purchase voucher with creation of creditor. Requirement Create a New Company Same Method to create company