Available new stat 129 from 17th December, 2010

Posted on December 18, 2010March 21, 2011 by Tally Academy

New Stat.900 Version is available free for existing Tally User, Major Enhancement are :

Excise for Manufacturer

In RG 23A Part I & RG 23C Part I, the Inventory Details will get captured from CENVAT Credit Availing entry (recorded in Debit Note). This enhancement will be useful in a scenario where excise purchase entry is recorded with Excise Duty ledgers (not availing CENVAT Credit) and later a Debit Note is passed for availing the CENVAT Credit.

Payroll

The facility to generate the ESI monthly e-returns has been provided in Tally.ERP 9. The user can now generate the e-return file from Tally.ERP 9 as per the format prescribed by the ESI Corporation.

Service Tax

A new Service Category – Foreign Exchange Broker (Other Than SP of BAFS) has been provided.

Tax Deducted at Source

TDS â€“ Exemption Limit for Payment to Transporter has been provided. If transporter furnishes PAN Number then TDS will not be deducted on payment to transporter. In case PAN is not furnished, exemption threshold limit is 30,000 as a single payment and 75,000 in a whole year w.e.f. 01.07.2010.

Value Added Tax

Maharashtra

The works contract functionality is supported for Form 231.
The entries recorded by selecting the VAT/Tax class – Purchase Works Contract @ 8% with Input VAT on Works Contract @ 8% are captured in physical and e-VAT template of Form 231.

Assam

The facility is provided to record inter-state transactions at multiple CST rates in a single invoice.
The value of entries recorded using the VAT/Tax classifications provided for different CST rates is captured in respective fields of CST Form No. III.

Release details of Stat900 version 129 (PDF file)

Download Stat 129

Create a new company with similar Features and Configuration

Posted on December 15, 2010January 21, 2011 by Tally Academy

Creating two or more companies with same F11: Features and F12: Configuration settings

Create a company
Set F11: Features and F12: Configuration as desired
Keep the company loaded and create another company
The new company will have the same settings (Same configuration and features)

Schedule-VI Balance Sheet

Posted on December 2, 2010December 2, 2010 by Tally Academy

Schedule-VI Balance Sheet provides the representation of company’s financial position at any point in time in the Schedule VI format of Company’s Act. As per Schedule VI format the Balance Sheet displays the balances between the Sources of Funds and Application of Funds.

Sources of Funds: comprises of Liability and Equity
Application of Funds: comprises of Current and non Current Assets

In Auditors’ Edition of Tally.ERP 9, all the default Tally Groups are mapped to the Schedule VI Groups to display the Schedule-VI Balance Sheet on click of a button. The option has been provided to reclassify the above default classification as per the Auditor’s requirement without effecting the Â Client’s data.

To generate the Schedule-VI Balance Sheet,

Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet

The above report displays the Balance Sheet as per the Schedule VI format with the balances against each Schedule VI Group.