Tally ERP 9

GST Input Tax Credit Explained [Video]

Posted on by Tally Academy

gst-input

One of the fundamental features of GST is seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country. In this section, let’s discuss about various conditions laid down by law to avail input credit on supply of goods or services.

All of the following conditions need to be satisfied to avail Input credit:
• The dealer should be in possession of Tax Invoice / Debit or Credit Note / Supplementary Invoice issued by a supplier registered under GST Act.
• The said goods/services have been received.
• Returns (GSTR-3) have been filed.
• The tax charged has been paid to the government by the supplier.

What do these conditions imply?

Once GSTR-1 (Outward supply details) is filed by the supplier, recipient has a visibility of the purchase through the auto populated GSTR-2 (Inward supplies details). After necessary modification, additions (if any) and acceptance, the Input credit will be credited to the recipient’s electronic credit ledger on a provisional basis.
Input credit will be available only when the Monthly returns (GSTR-3) are filed by the supplier along with payment tax.

Let us understand this with an example

Super Cars Ltd, a manufacturer of cars purchased 30 tons of steel from Ratna Steels. Ratna Steels supplied steel and issued tax invoice on 5th April with GST of 2, 40,000.

With this example, let us examine the process to understand the flow of availing input credit.

Notes
GSTR-1: Furnish all outward supply details on or before 10th of Subsequent month.
GSTR-2: This is auto-populated by System on 11th of subsequent month. This includes all inward supplies details
GSTR-3: Monthly Return auto populated by system on 20th of subsequent month

How is GST Different from Current Tax Structure

Posted on by Tally Academy

GST (Goods & Service Tax), a single unified tax system aims at uniting India’s complex taxation structure to a ‘One Nation- One Tax’ regime. It is the biggest tax reform since India’s independence.

What does this mean? What will be its impact?

GST proposes to remove the geographical barriers for trading, and transform the entire nation to ‘One Common Market Place’.

Let us understand the fundamentals of GST, it is a dual concept tax system. Under this system, tax is administered, collected, and shared by both the Centre and the State governments, based on the nature of transaction (within the state or interstate).

The tax components of GST 

 

While we now know the tax components of GST, it is equally important for you to know the taxes existing in the current regime, and how they are subsumed under GST.

Current Indirect Tax structure

Current Tax structure Vs GST

 

Taxes subsumed under GST

How does GST Eliminate Tax on Tax

Posted on by Tally Academy

In the current regime of indirect tax system, the chain of input credit, at a certain point, is broken. Let’s say Central Sales Tax (CST) applicable on interstate trade is non-creditable, leading to a break in the input credit chain. Similarly, a manufacturer charging excise duty on sale to a dealer causes the chain to break. This leads to taxes forming a part of the product cost.

In the year 2005, VAT was introduced with the similar objective to overcome cascading affect. If VAT was designed to eliminate it, how is it different in GST?

Yes, VAT eliminated the cascading tax effect on the state indirect tax, while the cascading effect of other indirect taxes still remained. GST allows for seamless flow of tax credit, and eliminates the cascading effect of all indirect taxes in the supply chain from manufacturers to retailers, and across state borders.

Let us examine this with an example of car as a product with overall rate of tax being considered @22% under existing and GST regime – to illustrate elimination of tax on tax

Savings of 5,280 catching your eyes! Isn’t it? Let’s us examine this.

If you observe closely, in the example, the taxes paid by dealer (CGST + SGST) to manufacturer is not added to cost. This is because GST allows the dealer to set off the tax liability of CGST+SGST. This is one of the fundamental features of GST, which allows seamless credit from manufacturer to dealer, and eliminates the cascading effect.

Get 40% off on Upgrade to Tally.ERP 9 Release 5.4

Posted on by Tally Academy

Great way to prepare for GST

Get 40% off on upgarade to Tally.ERP 9 Release 5.4

All you need to do is upgrade to Tally.ERP 9 Release 5.4 and Tally will take care of your compliance – now and during GST!

Upgrade Type

 Actual Price You Pay You Save
Tally 6.3/7.2 Silver to Tally.ERP 9 Silver   7,200   4,320 2,880 Upgrade now
Tally 6.3/7.2 Gold to Tally.ERP 9 Gold 21,600 12,960 8,640 Upgrade now
Tally 8.1/9 Silver to Tally.ERP 9 Silver   3,600   2,160 1,440 Upgrade now
Tally 8.1/9 Gold to Tally.ERP 9 Gold 10,800   6,480 4,320 Upgrade now

Tally.ERP 9 Release 5.4 Vs. Older Versions of Tally

Posted on by Tally Academy

Tally.ERP 9 Release 5.4 Vs. Older Versions of Tally

Features

 Tally 6.3 Tally 7.2 Tally 8.1 Tally 9 Tally.ERP 9 Release 4.93 Tally.ERP 9 Release 5.4
Statutory General Features
  Triangulation Report (To prepare for   GST -Detect & Correct Errors)
  E-filing (VAT/CST,TDS,Excise,      Service Tax)
Statutory Modules
  VAT/CST
  TDS
  TCS

  Service Tax

  Excise for Dealers

  Excise for Manufacturers
Accounting Features
  Banking – Auto Bank reconciliation
  Post-dated Cheque Management
  Multi-Address

  Job Costing

Inventory Features
  Job Work

  Point of Sale (POS)

  Pre-closure of Order

  Item Cost Tracking

Payroll
  Salary Process

  PF

  ESI

  PT

  Income Tax

  Form 16A

   Computation
   E-TDS

   Form 27A

   Form 26/27 Quarterly/Annually returns

  National Pension Scheme
  Gratuity

  PaySlip

  Attendance Sheet

  Pay Sheet

  E-Capabilities
  Mass-mailing

  Synchronization
  Online Sync

  On Demand Sync (Advanced next generation Sync)

  SMS

  Remote Access

Audit & Verification Tools
  Statutory Audit

  Other features
  Company logo

  Multi-lingual

  Support Centre

  Control Centre

Tally.ERP 9 Series A Release 5.4.3, September, 2016

Posted on by Tally Academy

The new Tally.ERP 9 Release 5.4.3 is available now!

Whats new in Tally.ERP 9 Release 5.4.3

  • As Jewellery Business is under central excise, we have enhanced the title of the sales invoice and type of copy, as per rule 8 of Articles of Jewellery.
  • The change in file name and increase in length of fields in Maharashtra e-VAT template are supported.
  • For a better license management experience, we have simplified the text on licensing related screens and e-mails.
  • MAV error does not occur when you mark reconciled bank vouchers as Optional.
  • The currency of a party ledger is retained when it is imported into a company with a different base currency and with multi-currency enabled.
  • When you view the POS extract report remotely, only the POS sales transactions are displayed, as expected.

Release 5.4.3 – Highlights :

Excise

  • To support Article of Jewellery Rules to make jewellery establishments part of Central Excise:
    • An option is provided in Excise Registration Details screen to set a company as jewellery business.
    • The title of sales invoice of jewellery business is changed to ISSUE OF INVOICE UNDER RULE 8 OF ARTICLES OF JEWELLERY (COLLECTION OF DUTY) RULES, 2016 as per Rule 8 of Articles of Jewellery Rules, 2016.
    • When number of copies of sales invoice is more than 1, the type of copy title is changed to Original for Buyer for the first copy, Duplicate for Assessee for the second copy, and Not for CENVAT from the third copy.

Accounting Vouchers

  • In an accounts only company, while creating a sales invoice in Accounting Invoice mode, the Billwise Details screen did not appear if,
    • the invoice was created by selecting a sales voucher type and
    • the options Enable default accounting allocation? and Set/Alter Default Accounting Entries? are enabled in the sales voucher type. This issue is resolved.
  • MAV error occurred when,
    • two payment vouchers with bank as party ledger were created and reconciled
    • the later payment voucher was made optional and
    • the payment vouchers were created in Release 5.4 and Release 5.4.1 This issue is resolved. If you are using an earlier version of Tally.ERP 9, run the rewrite procedure to solve this problem..

Inventory Reports

  • Show Nett Rate? option in F12:Configure of Stock Query report is set to No, by default.
  • When Godown Summary was viewed at stock group level, all stock items grouped under the stock group were displayed even if,
    • the stock item does not belong to the selected godown, and does not participate in any transaction, and
    • the option Exclude stock items with no transaction? was enabled. This issue is resolved.

Export/Import

  • The Page size was getting reset to default when Columnar Register was exported to PDF, with Show Columnar Register? enabled. This issue is resolved.

E-Mailing

  • The company logo is displayed, when vouchers are e-mailed in HTML format. To view the company logo in the voucher, open the company logo, and open the HTML file.

Printing

  • When printing purchase order, delivery note and receipt note from display mode, the title was getting printed as Purchase order voucher, Delivery Note voucher, and Receipt Note voucher, instead of PURCHASE ORDER, Delivery Note, and Receipt Note, respectively. This issue is resolved.

TDS/TCS

  • In the reports displayed on drilling down to ledger level from Collection Details section in Form 27EQ report, the values were not printed and only header information appeared. This issue is resolved.

VAT

Chandigarh

  • The date format exported to VAT Form 15, Annexure 23 and 24 excel templates was incorrect. This issue is resolved. Now, the date is exported in DD/MM/YY format, and not with – as the separator.

Rajasthan

  • CST annexure Form C was not capturing CST value from interstate purchase transactions, and only assessable value was displayed. This issue is resolved. Now, CST annexure Form C combines CST amount with assessable value, and displays the value as Total Amount of Goods.
  • Form 7A was displaying assessable value and tax amount for non-creditable purchase as a combined value. This issue is resolved. Now, assessable value and tax amount from Non Creditable Purchase – Special Goods transactions are displayed in separate columns in Form 7A.

West Bengal

  • Details of Form 12A could not be migrated from Release 4.9x to 5.3.2. This issue is resolved. Now, the migration process is enhanced to migrate details updated in Form 12A.

Assam

  • In the CST number field of annexures Part GG, Part I, Part L,and Part M, provision is made to display alphanumeric and special characters, and to accept values with length up to 14 characters. The field will be exported to e-VAT templates, as per the requirement.

Kenya

  • The Local Sales Tax number field in POS invoice print out is changed to Company’s VAT No.

Click here for release notes

Click here for download

Available new stat 265 from 17th August, 2016

Posted on by Tally Academy

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

Vat

Bihar :

    • As per the notification, effective from 12th Aug 2016, the following VAT classifications are provided to support the revised VAT rate from 5% to 6% :
      • CST @ 6%/Interstate Sales @ 6%
      • Input Tax Credit on Purchase From URDs @ 6%
      • Input VAT @ 6%/Purchases @ 6%
      • Interstate Purchases @ 6%
      • Output VAT @ 6%/Sales @ 6%
      • Output VAT @ 6% to URDs/Sales @ 6% to URDs
      • Purchase From URDs – Taxable Goods @ 6%
      • Purchases – Capital Goods @ 6%
      • Purchase Tax @ 6%
    • As per the notification, effective from 12th Aug 2016, the following VAT classifications are provided to support the revised VAT rate from 14.5% to 15%:
      • CST @ 15%/Interstate Sales @ 15%
      • Input Tax Credit on Purchase From URDs @ 15%
      • Input VAT @ 15%/Purchases @ 15%
      • Output VAT @ 15%/Sales @ 15%
      • Interstate Purchases @ 15%
      • Output VAT @ 15% to URDs/Sales @ 15% to URDs
      • Purchase From URDs – Taxable Goods @ 15%
      • Purchases – Capital Goods @ 15%
      • Purchase Tax @ 15%

Note: Currently, the values of transactions recorded using the above classifications are captured in the VAT Computation report. The relevant VAT forms will be enhanced in future releases to capture values from transactions recorded using these classifications.

And more….

Tally.ERP 9 Series A Release 5.4.1, August, 2016

Posted on by Tally Academy

The new Tally.ERP 9 Release 5.4.1 is available now!

The latest version under Tally.ERP 9 Release 5 series is Release 5.4.1and was launched on 18th August, 2016.

Please note that Release 5.4.1 is applicable for selected states within India, namely

  • Andhra Pradesh
  • Assam
  • Bihar
  • Chandigarh
  • Delhi
  • Goa
  • Gujarat
  • Haryana
  • Karnataka
  • Kerala
  • Madhya Pradesh
  • Maharashtra
  • Odisha
  • Puducherry
  • Punjab
  • Rajasthan
  • Tamil Nadu
  • Telangana
  • Uttar Pradesh
  • West Bengal

VAT

Andhra Pradesh

The four new annexures introduced by the Commercial Taxes Department, Government of Andhra Pradesh, are supported in Release 5.4.1. The new annexures are:

  • Details of Debit Notes issued by Purchaser for goods returned (DNIPGR)
  • Details of Debit Notes received by Seller for goods returned by purchaser (DNRSGR)
  • Details of Credit Notes issued by Seller for additional quantities given as incentives (CNISAQ)
  • Details of Credit Notes received by Purchaser for additional quantities received as incentives (CNRPAQ).

Excise

On popular demand Form RG 23A and C Part I & II, PLA Register, Annexure 10, and Annexure II are reintroduced.

Non Taxation

  • Option to view ledger amounts as Cr/Dr or +/- for Columnar Voucher Register.
  • Fixed the MAV error in Sales Bills Pending report which occurred when same stock item was used across sales vouchers with tracking numbers, with billed quantity for the same specified as zero.

Highlights :

  • Powerful and simplified statutory functionality brings to you the best solution to manage your taxation in the simplest and most efficient manner. Release 5 gives you the experience of a hand-prepared return with intuitive intelligence designed to help you generate 100% accurate returns in a matter of minutes. With Release 5, you enjoy the complete flexibility to configure tax rates and classifications as applicable to your business as well as a simple and easy experience to record transactions. What’s more, it also enables you to save your finalized returns which will help you to either modify them or prepare revised returns as appropriate.
    Migrate to Tally.ERP 9 release 5.3.2 quickly with the all new Tax Rate Setup tool. Easily view and specify VAT rates and excise tariffs, and start recording transactions in no time at all.  Using the Tax Rate Setup tool ensures maximum productivity in business operations by making the entire process of setting VAT or excise tariff rates effective, and quick.
  • On-Demand Data Synchronization that gives you the ability to share information across your locations in a simple, reliable and secure manner, without the need to be simultaneously connected to each other. This completely eliminates the need for intensive and rigid schedules; delivering the benefit of sheer convenience in your hands. Release 5 takes advantage of the Tally Software Services for synchronisation of master information as well as transaction data across locations and ensures that creation, modifications and deletions are appropriately updated.
  • Comprehensive post-dated cheque management wherein you can flexibly track and record post-dated cheques which are automatically regularised on the due date. What’s more, you enjoy full visibility of PDCs issued and received along with their real-time accounts; enabling accurate and informed cash planning.
  • New Migration experience: Release 5 also offers you quick, easy and seamless migration of business data. The system will automatically populate all relevant information such as tax information, MRP etc. and migrate your data accordingly; enabling you to immediately begin your billing process after migration.
  • Lighter and Swifter Tally.ERP 9 ensuring a highly optimised system memory usage, hassle free and efficient product update experience delivering only those updates which are relevant to you.
  • One click zero-configuration installer that greatly simplifies the installation process and reduces the set-up time so that you are up & running in seconds.
  • Robust Licensing enables multiple users to use the same single user license to access data, one user at a time.
  • Over 2000 product enhancement & issue resolution requests are addressed to further improve the Product Stability and Completeness.

Product Improvement :

Accounting Vouchers

Despatch doc No. was being printed as G.R.No in sales invoice for all states, resolved: Despatch doc No. entered in the Party Details screen of a sales invoice was printed as G.R No. for states other than Punjab, Tamil Nadu, and Chandigarh.

The issue of the round off value against a round off ledger in an invoice was appearing blank, resolved: The round off value in an invoice created by selecting a voucher type was appearing blank when,

  • A voucher type was created with the options Enable Default Accounting Entries and
    Set/Alter Default Accounting Entries set to Yes, and
  • In the Default Accounting Entries screen, the round off ledger was selected with
    Type of Calculation as any option other than As User Defined Value and,
  • The invoice was created by selecting the voucher type, and the invoice amount with decimal was entered, the value against round off ledger was appearing blank.

Inventory Reports

  • An error message “Action execution failed” was being displayed on pre-closing large number of orders, resolved: Now, the error message is not displayed on pre-closing large number of orders.

Accounting Reports

The issue of mismatch in balance sheet totals if a transaction was passed after a post-dated transaction was paid, resolved: When a post-dated transaction was passed, and if the company was closed and reopened before making payment for the same and,

  • If a non-post-dated transaction was passed on the same day,

  • then, there was a mismatch in the balance sheet totals.

 And more…

Tally.ERP 9 Feature Summary:

  • Quick to install and allows incremental implementation
  • Easy to customise
  • Powerful remote capabilities to boost collaboration
  • Audit & compliance services
  • Integrated support centre
  • Security management
  • Statutory processes
  • Manufacturer’s excise
  • Payroll

Click here for release notes

Click here for download

Available new stat 261 from 1st June, 2016

Posted on by Tally Academy

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

Vat

Delhi :

    • As per the notification, to support the revised VAT rate of 16.75% on Diesel, the following VAT/Tax classifications are provided, effective from 6th May 2016:
      • CST @ 16.75%/Interstate Sales @ 16.75%
      • Input VAT @ 16.75%/Purchases @ 16.75%
      • Input VAT – Works Contract @ 16.75%/Purchases – Works Contract @ 16.75%
      • Interstate Purchases @ 16.75%
      • Output VAT @ 16.75%/Sales @ 16.75%
      • Output VAT – Works Contract @ 16.75%/Sales – Works Contract @ 16.75%
      • Purchases – Capital Goods @ 16.75%
    • As per the notification, to support revised VAT rate of 18% on Diesel (High Speed Diesel, Super Light Diesel Oil, Light Diesel Oil), the following VAT/Tax classifications are provided, effective from 18th January 2016:
      • CST @ 18%/Interstate Sales @ 18%
      • Input VAT @ 18%/Purchases @ 18%
      • Input VAT – Works Contract @ 18%/Purchases – Works Contract @ 18%
      • Interstate Purchases @ 18%
      • Output VAT @ 18%/Sales @ 18%
      • Output VAT – Works Contract @ 18%/Sales – Works Contract @ 18%
      • Purchases – Capital Goods @ 18%
    • As per the notification, to support revised VAT rate of 27% on Petrol (Motor Spirit), the following VAT/Tax classifications are provided, effective from 18th January 2016:
      • CST @ 27%/Interstate Sales @ 27%
      • Input VAT @ 27%/Purchases @ 27%
      • Output VAT @ 27%/Sales @ 27%
      • Interstate Purchases @ 27%

Note: Currently, the values of transactions recorded using the above classifications will be captured in the VAT Computation report. The relevant VAT forms will be enhanced in future releases to capture values from transactions recorded using these classifications.

Jammu and Kashmir

  • As per the notification, to support the revised VAT rate from 13.5% to 14.5% on Schedule D items, the following VAT/Tax classifications are provided, effective from 31st May 2016:
    • CST @ 14.5%/Interstate Sales @ 14.5%
    • Input VAT @ 14.5%/Purchases @ 14.5%
    • Interstate Purchases @ 14.5%
    • Output VAT @ 14.5%/Sales @ 14.5%
    • Output VAT (Retail) @ 14.5%/Sales (Retail) @ 14.5%
    • Purchase From URDs – Taxable Goods @ 14.5%
    • Purchases – Capital Goods @ 14.5%
    • Purchase Tax @ 14.5%

Note: Currently, the values of transactions recorded using the above classifications will be captured in the VAT Computation report. The relevant VAT forms will be enhanced in future releases to capture values from transactions recorded using these classifications.

Uttarakhand

  • As per the notification, to support the revised VAT rate of 10%, the following VAT/Tax classifications are provided, effective from 8th May 2015:
    • Input VAT @ 10%/Purchases @ 10%
    • Output VAT @ 10%/Sales @ 10%
    • Output VAT @ 10% (of Purc Outside State)/Sales @ 10% (of Purc Outside State)
    • Output VAT @ 10% (of Purc Outside State) – SCG/Sales @ 10% (of Purc Outside State) – SCG
    • Output VAT @ 10% – Spl. Category Goods/Sales @ 10% – Spl. Category Goods
    • Purchase From URDs – SCG @ 10%
    • Purchase From URDs – Taxable Goods @ 10%
    • Purchase Tax @ 10%

Note: Currently, the values of transactions recorded using the above classifications will be captured in the VAT Computation report. The relevant VAT forms will be enhanced in future releases to capture values from transactions recorded using these classifications.

And more….

Tally.ERP 9 Series A Release 5.3.8, May, 2016

Posted on by Tally Academy

The new Tally.ERP 9 Release 5.3.8 is available now!

Tally.ERP 9 Release 5 offers you a wide range of product enhancements aimed to make business management far easier and simpler for you. Release 5.3.8 is the latest release under the Tally.ERP 9 Release 5 series, that delivers a magical migration experience to help users to seamlessly migrate to the latest release.

Please note that Release 5.3.8 is applicable for selected states within India, namely

  • Goa
  • Gujarat
  • Haryana
  • Karnataka
  • Kerala
  • Maharashtra
  • Odisha
  • Puducherry
  • Punjab
  • Rajasthan
  • Tamil Nadu
  • Telangana
  • Uttar Pradesh
  • West Bengal

Service Tax

Krishi Kalyan Cess Compliance

As per the Budget 2016-17, Krishi Kalyan cess of 0.5% will be levied on all taxable services, with effect from June 01, 2016. The service tax rate including Krishi Kalyan cess is 15%.

Krishi Kalyan Cess master and transaction experience is now available in Release 5.3.8. With this you can account for Krishi Kalyan Cess in all transactions recorded from June 01, 2016.

About Krishi Kalyan cess

  • Krishi Kalyan cess of 0.5% is levied, collected, and paid to the government on all taxable services.
  • Krishi Kalyan Cess is levied in addition to Service Tax and Swachh Bharat Cess.
  • Like Swachh Bharat cess, Krishi Kalyan Cess is separately chargeable on invoices.
  • Input Tax credit of Krishi Kalyan cess is adjustable against Krishi Kalyan cess payable on services provided.

Highlights :

  • Powerful and simplified statutory functionality brings to you the best solution to manage your taxation in the simplest and most efficient manner. Release 5 gives you the experience of a hand-prepared return with intuitive intelligence designed to help you generate 100% accurate returns in a matter of minutes. With Release 5, you enjoy the complete flexibility to configure tax rates and classifications as applicable to your business as well as a simple and easy experience to record transactions. What’s more, it also enables you to save your finalized returns which will help you to either modify them or prepare revised returns as appropriate.
    Migrate to Tally.ERP 9 release 5.3.2 quickly with the all new Tax Rate Setup tool. Easily view and specify VAT rates and excise tariffs, and start recording transactions in no time at all.  Using the Tax Rate Setup tool ensures maximum productivity in business operations by making the entire process of setting VAT or excise tariff rates effective, and quick.
  • On-Demand Data Synchronization that gives you the ability to share information across your locations in a simple, reliable and secure manner, without the need to be simultaneously connected to each other. This completely eliminates the need for intensive and rigid schedules; delivering the benefit of sheer convenience in your hands. Release 5 takes advantage of the Tally Software Services for synchronisation of master information as well as transaction data across locations and ensures that creation, modifications and deletions are appropriately updated.
  • Comprehensive post-dated cheque management wherein you can flexibly track and record post-dated cheques which are automatically regularised on the due date. What’s more, you enjoy full visibility of PDCs issued and received along with their real-time accounts; enabling accurate and informed cash planning.
  • New Migration experience: Release 5 also offers you quick, easy and seamless migration of business data. The system will automatically populate all relevant information such as tax information, MRP etc. and migrate your data accordingly; enabling you to immediately begin your billing process after migration.
  • Lighter and Swifter Tally.ERP 9 ensuring a highly optimised system memory usage, hassle free and efficient product update experience delivering only those updates which are relevant to you.
  • One click zero-configuration installer that greatly simplifies the installation process and reduces the set-up time so that you are up & running in seconds.
  • Robust Licensing enables multiple users to use the same single user license to access data, one user at a time.
  • Over 2000 product enhancement & issue resolution requests are addressed to further improve the Product Stability and Completeness.

Product Improvement :

Accounting Vouchers

Despatch doc No. was being printed as G.R.No in sales invoice for all states, resolved: Despatch doc No. entered in the Party Details screen of a sales invoice was printed as G.R No. for states other than Punjab, Tamil Nadu, and Chandigarh.

The issue of the round off value against a round off ledger in an invoice was appearing blank, resolved: The round off value in an invoice created by selecting a voucher type was appearing blank when,

  • A voucher type was created with the options Enable Default Accounting Entries and
    Set/Alter Default Accounting Entries set to Yes, and
  • In the Default Accounting Entries screen, the round off ledger was selected with
    Type of Calculation as any option other than As User Defined Value and,
  • The invoice was created by selecting the voucher type, and the invoice amount with decimal was entered, the value against round off ledger was appearing blank.

Inventory Reports

  • An error message “Action execution failed” was being displayed on pre-closing large number of orders, resolved: Now, the error message is not displayed on pre-closing large number of orders.

Accounting Reports

The issue of mismatch in balance sheet totals if a transaction was passed after a post-dated transaction was paid, resolved: When a post-dated transaction was passed, and if the company was closed and reopened before making payment for the same and,

  • If a non-post-dated transaction was passed on the same day,

  • then, there was a mismatch in the balance sheet totals.

 And more…

Tally.ERP 9 Feature Summary:

  • Quick to install and allows incremental implementation
  • Easy to customise
  • Powerful remote capabilities to boost collaboration
  • Audit & compliance services
  • Integrated support centre
  • Security management
  • Statutory processes
  • Manufacturer’s excise
  • Payroll

Click here for release notes

Click here for download