Key to Workbook 1

Scenario 9
Purchase Process – Appropriations and Trade Discounts

Enable Value Added Tax for the Company

Go to Gateway of Tally > F11: Features > Statutory & Taxation and set the options as shown
below:

Figure 21.1 Statutory & Taxation Features

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Create the Required Ledgers

I) Discount Ledger
The completed Ledger Creation screen appears as shown:

Figure 21.2 Discount Ledger

Note: The facility to select the Type of Ledger as Discount in Ledger master and allow Trade
Discount through F12: Invoice Configuration is provided as per state-specific
Statutory requirements. Currently, in Tally.ERP 9, this facility is provided for VAT enabled
companies of Chandigarh, Karnataka, Maharashtra, Punjab and West Bengal.

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II) Input VAT Ledger

The completed Ledger Creation screen appears as shown below:

Figure 21.3 Input VAT Ledger

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III) Sonic Electronics & Co.

The completed Ledger Creation screen appears as shown below:

Figure 21.4 Sonic Electronics & Co.

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IV) Purchases
Set the options in the Ledger Creation screen as shown below:

Figure 21.5 Purchase Ledger

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Select the VAT/Tax Classification as shown below:

Figure 21.6 Purchases

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The completed Ledger Creation screen appears as shown below:

Figure 21.7 Purchases

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VI) Transportation Charges

The completed Ledger Creation screen appears as shown below:

Figure 11.8 Transport Charges

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Transactions
1. On 17-06-2013, purchased the following goods on credit from Sonic Electronics & Co.
 1 Tb Hard-Disk 10 Nos @ Rs. 3,000 each.
 Wireless Keyboard 50 Nos @ Rs. 350 each.
 Digital Mouse 35 Nos @ Rs. 250 each.
Trade discount was provided @ 10% on Keyboard and Mouse and transportation charges
amounted to Rs. 3,500.

Record the transaction in Purchase Invoice.

In Purchase Invoice, press F12: Configure and set the option as shown below:

Figure 21.9 Purchase Invoice Configuration

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The Purchase Invoice appears as shown below:

Figure 21.10 Purchase Invoice – Show Statutory Details

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The detailed view of Statutory Details screen appears as shown below:

Figure 21.11 Statutory Details screen

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The completed Purchase Invoice appears as shown below:

Figure 21.12 Purchase Invoice – Completed

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