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Showing posts from January, 2022

Stock Items GST

Update Stock Items and Stock Groups for GST You have a facility to update stock items and stock groups for GST in TallyPrime. If the items have different tax rates, with or without slab rates, update your stock item masters or stock groups with the applicable GST rates, and select the type of supply, as applicable.

Service Ledger for GST

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Update a Service Ledger for GST You can update a service ledger for GST in TallyPrime. To update taxes and other GST details for your service items, you need to modify your service ledgers. 1. Gateway of Tally > Alter > type or select Ledger > and press Enter. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > and press Enter.  2. Is GST Applicable – Applicable. 3. Set/alter GST Details – Yes, specify the details in the GST Details screen, and save. Alternatively, you can use a classification to use the tax details defined in the classification.    4. Taxability: Select Taxable for goods and services that are classified as taxable type of supply under GST. Select Exempt, if the type of supply is exempted from tax under GST, or select Nil Rated, if the tax rate applicable to the type of supply is 0% under GST. To view the history of tax rate changes, press Alt+W (Details). To specify further GST-related details, press F12 (Config...

Update Sales and Purchase Ledgers for GST

Update Sales and Purchase Ledgers for GST If many items you sell have the same tax rate, specify the tax rate and other GST details in your sales ledger. Similarly, if the items you purchase have the same tax rates, update your purchase ledger. If you sell items with multiple tax rates, you can maintain a single sales ledger and record all GST details at the stock item or stock group level. Similarly, you can create a single purchase ledger. The HSN details, tax rate, and type of supply selected in sales and purchase ledger will be applicable to all items or services selected in a transaction where these ledgers are applied. These details specified in the stock items will be overridden in the transaction with the details configured in the sales or purchase ledger.

Update Party GSTIN/UIN

Update Party GSTIN/UIN Quickly update the GSTIN/UIN details for your parties group-wise from the Update Party GSTIN/UIN report. You can also provide this at the individual party ledger level. Use the Import Party GSTIN tool to import GSTINs for several parties in one-go.

GST Compliance

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Start Using TallyPrime for GST Compliance To record a GST transaction, you have to activate GST and also update or create the required ledgers. Activate GST for your company Activate GST Set up tax rates  Note: You can find the list of HSN codes/SAC on the website of the department of revenue.   Create or Update Masters Depending on the business requirements you will need to update the following ledgers, either immediately or later. Update stock items, and stock groups to include GST details. Update sales and purchase ledgers to use in GST transactions. It is recommended that you restart voucher numbering for GST transactions to ensure thatunique voucher numbers are used for all your vouchers. If Automatic (Manual Override) is set as the method of voucher numbering, it ensures that unique voucher numbers are set for your vouchers. Update party GSTIN/UIN for parties buying from you or selling items to you. Create GST tax ledgers to calculate taxes in transactions. Create income...

Set GST Rate

Set GST Rate in TallyPrime You can set GST rate in TallyPrime. Quickly set up GST rates for your company, stock item-wise or stock group-wise, using the GST Rate Setup option. You must enable GST in your company to provide GST rates. You can set up GST rates at the company level, stock group level, stock item level, account ledger group level, and ledger level. You can also set the GST rates for a particular price range/slab for multiple stock items.

GST Details

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Provide GST Details in TallyPrime You can provide GST details in TallyPrime by specifying all GST-related information relating to your business in the GST Details screen. This screen can be configured to enable further options which will allow you to enter your GST information in detail. To provide GST details in TallyPrime, enable the option Set/alter GST rate details?. You can manage GST details for goods/services at different levels. If you have enabled GST classification at the company level, you can select it in the field Classification. Once you have selected a GST classification, the details  specified get applied to stock item, stock group or ledger. The GST Details screen at the stock item level appears as shown below: Note: The option Calculation type is available only at the stock item level. You can set the calculation type as On Value or On Item Rate, as required. F12 (Configure) The F12 configuration options available at the stock item, stock group, and ledger levels,...

HSN Codes GST

Manage HSN Codes/SAC and Tax Rates in TallyPrime You can specify and manage HSN codes/SAC and tax rates in TallyPrime at different levels for the goods or services provided by your business. This is a flexibility provided for ease of use to accommodate your business needs. It is recommended that HSN code/SAC and tax rate should be specified at the same level. In case you have specified these at different levels, you can remove it. If HSN code/SAC and tax rates are specified at stock item level and only HSN code/SAC is specified at accounting ledger/group level, tax will not be calculated while recording the invoice. In This Section: Order in which HSN code and tax rate are applied for goods Order in which SAC and tax rate are applied for services Update HSN Codes in TallyPrime

Income Expenses Ledger GST

Ledgers For Expenses, Incomes, Non-Revenue Accounts, Invoice Rounding Under GST Supply of goods or rendering of services may involve additional expenses, which can either be part of stock items or service value, or can be charged separately. When such an expense is recovered from customers, it is treated as an income. You can create a ledger to round-off the invoice value. You can enable the applicability of GST for non-revenue accounts as well. In This Section: Ledger to Round-off the Invoice Value Include Expenses in Assessable Value GST Applicability for Ledgers of Non-Revenue Accounts Ledger to Book Expenses with GST

Create Party Ledgers for GST

Create Party Ledgers for GST You can create party ledgers for GST in TallyPrime for the parties with whom you purchase and sell goods and services, with the GST registration details. You can create supplier Ledger, customer Ledger and enter the GSTIN/UIN based on the party type. You can set GST rates in the ledger grouped under non-revenue accounts, for example, Current Assets and Current Liabilities. If you have created the party ledgers under groups other than Sundry debtors, Sundry creditors, Bank, Cash, and Branch/divisions: Supplier Ledger Customer Ledger

Create GST Ledgers

Create GST Ledgers You can account for different taxes under GST (central tax, state tax, UT tax, integrated tax, and cess), for which you need to create GST ledgers or tax ledgers for each tax type. Central Tax Ledger Cess Ledger UT Tax Ledger

Classifications GST

GST Classifications in TallyPrime You can create GST Classifications in TallyPrime in order to record the tax rates and other details for categories of goods attracting different GST rates. For example, you can create GST Classifications based on HSN. When this classification is used in relevant masters and transactions, the tax details of the goods or services will be automatically captured. In case the department changes, the tax rate for any HSN in future, alter the GST Classification and assign the new rate. You can create GST Classifications in TallyPrime for an accounts-only company as well. Depending on the grouping used for GST Classifications, you can tag those to Sales, Purchase, Services, Income and Expense ledgers. In This Section: Create a GST classification based on HSN code Alter a GST classification Create a GST Classification Based on SAC Use a GST classification for setting GST details for a service Create a GST Classification for Cess Based on Quantity or Value

Activate GST

Activate GST for Your Company To use TallyPrime for GST compliance, you need to activate the GST feature. Once activated, GST- related features are available in ledgers, stock items, and transactions, and GST returns can be generated. In This Section: Activate and Configure GST for Regular Dealers Activate and Configure GST for Composition Dealers

Validate GSTIN/UIN

Validate GSTIN/UIN and HSN/SAC - Online in TallyPrime The information related to a Party’s GSTIN/UIN is a vital part of transactions recorded for the Party. On the other hand, HSN/SAC details are important to identify items, goods, or services in a transaction, as applicable. Furthermore, if your business has a turnover exceeding Rs. 5 Crore in the previous financial year, then you need to furnish 4, 6, or 8 digit HSN codes for Stock Items as per new mandate under Notification 78/2020 issued by the GST authority. Additionally, you need to provide accurate descript for Stock Items in the Invoice. So, it is mandatory to enter the correct information related to GSTIN/UIN and HSN/SAC code in transactions. The entry of the authentic information in the transaction will ensure seamlessness in filing returns and claiming Input Tax Credit, if applicable. To ensure that the information in transactions is authentic, you must validate GSTIN/UIN and HSN/SAC. TallyPrime Release 2.0 onwards, you can ...

Selling and Buying Prices - Sales

Manage Buying and Selling Prices Based on the buying and selling prices of each stock item, you may want to maintain the rates such that they automatically appear when you pass a transaction. You can do this in TallyPrime by providing the standard cost (for purchase), and standard price (for sales) for each stock item. You can maintain rates for the stock items on a daily basis or a specific period based on your business needs. When you record the purchase and sales invoices, the standard cost and standard price will appear for that stock item automatically. Also, you may want to fix the selling price of items at different rates to customers, based on the type of the customer or your preferences. For this, in TallyPrime, you can use price list. In This Section: Manage Buying Price Using Standard Cost Manage Selling Price Using Standard Price Use Price List in Sales   

Sales Person Details

Record Sales with Salesperson Details for Collection and Commission in TallyPrime You may be keeping track of the sales made by each salesperson, or want to keep track of it. You can use the cost centre feature and track this in the sales voucher itself. Based on your business needs, you may want to track the total sales done by the salesperson to calculate commission on it, or assign the salespersons to collect the sales amount from the party or both. You can enable the cost centre feature in TallyPrime and record all these details. In This Section: Details for Calculation of Commission on Sales Details for Collection of Sales Amount Details for Collection and Commission   

Sales Record

Record Credit Note for Sales Returns and Increase in Sale Value In case you have sold goods and some or all of the goods have been returned by your customer, you will need to account for such sales returns. Once you accept the goods that are returned, before or after receiving the payment for the same, you can record the transaction using the credit note feature of TallyPrime.  In This Section: Sales Returns Transaction Credit Note Register Account for Increase in Sale Value   

Sales Order

Record Sales Order in TallyPrime In your business, if you are following the process of raising a sales order for each sales transaction, you can do the same in TallyPrime. You can record a sales order, raise a delivery note and link it to this order, and then link them to the sales invoice. You can use the reports to track the outstanding sales orders. You can generate and print a sales order as quotation, and it will not affect your books of accounts. You can also pre-close the orders, if needed. In This Section: Record Sales Order Sales Against Sales Order Record Delivery Note Against Sales Order Record Partial Cancellation of Goods Record Quotation Pre-Close Sales Order Reports | Sales Orders & Sales Order Outstanding

Sales of Goods and Services

Sales of Goods and Services Every business involves sales of goods or services. The sales transactions in your business may be a simple cash sales, or even sales on credit. For each sales transaction, you will need to keep a record of the items that you sold, the payment that you received, goods returned, and so on. The invoice also serves as a proof of the purchase made by the buyer. Using TallyPrime, you can do all of these and more. Moreover, you can view reports any time you need to understand the sales performance of your business. In This Section: Record Sales of Goods  Record Sales of Services Sales in Voucher Mode or Double Entry Mode Reports | Know Your Sales Receive Money Against Sales Sales Against Advance Receipt Change Ledger for Item Allocation Sales with Additional Charges Sales of Items with Discounts Sales with Free Items Specify Separate Buyer (Bill to) and Consignee (Ship to) details Faster Data Entry using Voucher Class   

Record Sale of Fixed Assets

Record Sale of Fixed Assets in TallyPrime If you are selling off your fixed assets (for example, furniture) which you do not trade in, you can record such sales in TallyPrime. You can also adjust the profit or loss arising out of such sale using a journal voucher. In This Section: Record Sale of Fixed Assets Adjust Profit or Loss on Sale of Fixed Assets

Print Sales Invoice

Tally Audit Audit is an important function of any business organization, it denotes that the business has True and Fair transactions during the year. TallyPrime has an inbuilt feature- Tally Audit which enables the auditor to perform an audit or track changes that affect the integrity of a transaction, such as changes made to Date, Ledger Masters and Amounts in the Voucher are reflected in the Tally Audit Listings. In This Section: Enable Tally Audit Features Audit Listing for Voucher Types Audit Listing for Masters Audit Listing for Users

Point of Sale (POS)

Record Point of Sale (POS) Transaction in TallyPrime Point of Sale transaction may take place at a retail shop, a check-out counter in a shop or any similar location. The various POS equipment used in retail outlets are cash registers, card readers, and barcode scanners. In TallyPrime, you can record a POS invoice in single or multiple payment modes, print it using a POS invoice printing device, and view the list of POS transactions in reports. You can also create a voucher class for POS in TallyPrime, to automate ledger  allocation in the invoice. In This Section: Record a POS Invoice POS Invoice with Multiple Modes of Payment POS Register Voucher Class for Faster Data Entry

Sales3 - GCT

Sales to SEZ The sale of goods and services to a party in an SEZ can be recorded using a sales vouchers. In an SEZ sales transaction, taxes are applicable based on the type of sale: Taxable SEZ sale: In SEZ sales, integrated tax is applicable for both local and interstate parties. Exempt and nil rated SEZ sale: No tax is applicable. SEZ sale under LUT/bond: No tax is applicable. SEZ sales under LUT/bond are allowed when you have signed up a letter of undertaking with the department for  the sale of goods without the payment of duty. In This Section: Sales to SEZ Deemed Export Sales to Consumers Sales to Consignee and Buyer Sale of Works Contract Services Exports Sales Sales Returns Change in Assessable Values of Sales Mismatch in Central Tax and State/UT Tax values

Sales2 - GST

Interstate Sales to Embassy or UN Body You can record interstate sale of taxable, exempt and nil rated goods to Embassy or UN Body, using the new natures of transaction, even without selecting the party type in customer ledger. In this section Interstate Sales to Embassy or UN Body Sales of Stock Items with Cess Sales by applying Slab-wise Tax Rates Sales to Other Territory Nil-rated Sales Exempt Sales

Sales1 - GST

Sales Under GST You can record sales under GST in TallyPrime and print a valid GST tax invoice with party’s GST registration and location, item details (HSN or SAC), and tax rates. You can also record the export of goods, sales to other territory and SEZ, sales to  foreign tourists, nil rated and exempt sales, deemed export, and so on, using a sales voucher.   In This Section: Select the Sales Ledger in Voucher Sales with Multiple GST Rates in an Invoice Interstate Sales with GST Sale of Services Override assessable value in invoice Override HSN code in invoice Update Party Details in Invoice Sales of Composite Supply Under GST Sale of Mixed Supply Sale of Fixed Assets

Buying and Selling Prices - Purchase

Manage Buying and Selling Prices Based on the buying and selling prices of each stock item, you may want to  maintain the rates such that they automatically appear when you pass a  transaction. You can do this in TallyPrime by providing the standard cost (for  purchase), and standard price (for sales) for each stock item. You can maintain  rates for the stock items on a daily basis or a specific period based on your  business needs. When you record the purchase and sales invoices, the standard  cost and standard price will appear for that stock item automatically. Also, you may want to fix the selling price of items at different rates to customers, based on the type of the customer or your preferences. For this, in TallyPrime, you can use price list. In This Section: Manage Buying Price Using Standard Cost Manage Selling Price Using Standard Price Use Price List in Sales   

Purchase Returns

Record Debit Note for Purchase Returns and Increase in Purchase Value Debit Note is a document issued to a party stating that you are debiting their  Account in your Books of Accounts for the stated reason or vise versa. It is  commonly used in case of Purchase Returns, Escalation/De-escalation in price, any other expenses incurred by you on behalf of the party etc. In This Section: Record Purchase Returns Account for Increase in Purchase Value     

purchase order

Record Purchase Order in TallyPrime When the order is placed with the suppliers for the supply of goods, the items,  quantities, date of receipt, and so on, details are given with the Purchase Order Number. Later, when these goods are received, the Purchase Order is tracked for the Order Details either in the receipt note or in the purchase Invoice. The Outstanding Purchase Order reports are available in TallyPrime. It is possible to know the order position of any item in the Stock Summary. Separate Purchase  Order Outstanding report and Purchase Order Summary report are also available. In This Section: Record Purchase Order Purchase Order Book Purchase Order Outstanding   

purchase goods and service

Purchase of Goods and Services In your business, you might need to purchase goods or services to fulfil the  demands of your customers. You may do a simple cash purchase or purchase on  credit. For each purchase transaction, you will need to keep a record of the items you bought, payments made, goods returned, and so on. Using TallyPrime, you can  do all of these and more. Moreover, you can view reports any time to know about  all the purchases made in your business and compare against the sales  performance. In This Section : Record Purchase of Goods or Services Use Less Paper Space for Printing Provide Supplier and Consignee Details Purchase of Items with Discounts Purchase with Free items Purchase of Fixed Assets Track Stock Item Cost in Purchases Reports | Know Your Purchases

purchase ledger2 - GST

Purchases from SEZ The purchase of goods and services from a party in an SEZ can be recorded using a  purchase voucher. In a transaction of purchase from SEZ, taxes are applicable  based on the type of purchase. In this section: Purchases from SEZ Purchases Attracting GST and TDS View Purchase Price in Sales Invoice Purchase Returns in GST Change in Assessable Values of Purchases in GST Apportion Additional Ledger Value to Stock Item to Calculate GST Mismatch in Central Tax and State/UT Tax values

purchase ledger -GST

Record Purchases Under GST in TallyPrime Once you activate GST in your company, you can record the purchase of goods and  services (inward supply) that attract GST using a purchase voucher. You can also  record purchases from other territory and SEZ, nil rated and exempt purchases,  works contract, purchases attracting GST and TDS. In This Section: Select the Purchase Ledger in VoucherLocal purchase Interstate Purchase Purchase of Fixed Assets Purchases from Other Territory Nil Rated Purchases Exempt Purchases Deemed Exports

Track Item Cost

Track Item Cost in TallyPrime Item cost and profit tracking refers to accumulation of costs and revenue for a particular quantity of a stock item across various transactions. Any transaction can be tracked and subsequently referred in any transaction. This enables analysing the running cost and profitability of the item being tracked through manufacturing, sales, purchase, and so on. You can track item cost in TallyPrime as it will help you effectively track and ascertain the procurement cost, landing costs, manufacturing or production costs, order cost or profit, and job cost or profit. This feature also helps to determine the sale price of finished goods based on the costs incurred till date and overall profitability.  In This Section: Configure Stock Items Configure Accounting Ledgers Item Cost Details Item Cost Analysis Report

Classify Stocks Items

Classify Stocks Items | Stock Groups and Stock Categories Managing stock items in groups help in easily locating them, especially when you need to track different stock items sharing a common feature – say a common brand, product type, material used, and so on. You can get a consolidated view of the total stock items available under that group. Stock items under a group need to have the same unit of measurement for consolidation and better management. This also helps in reporting of stock items group-wise in the financial statements.   In this section Create Stock Groups Create Stock Categories Track Stock Item Details Using Reports Maintaining stock items will also need to know your stock positions based on different parameters – by period, by manufacturing and expiry dates, by stock groups, by age of your stock items and so on. Reports in TallyPrime provides all such details with real-time record of your stock position. You can also find out the last selling or purchase price of ...

Stock Items

Manage Your Stock Items Does your business involve stock items or inventory in the day-to-day transactions? If so, you certainly need to manage and keep track of all your stocks – how much of them have been sold every day, what is the balance stock, are the stocks moving as per the demand, do you have too much unused stock and so on. In TallyPrime, you can create as many stock items as you have in the business, specify units of measurements (UoMs) for each stock item and define tax rates, without having to enter these details again during transactions. Whether you keep your stocks in different groups, batches or godowns, based on your business practices, you can find the details of your stock items any way you need. Real-time view of your stock quantity helps to refill your stock in advance to avoid the risk of losing customers, You can also view stock item reports for each group or batch as needed. In this section Create stock items Create Units for Stock Items Tax rate of stock items...

Manufacturing Journal Voucher

Manufacturing Journal Voucher Type In Manufacturing/Assembling organisations, there are number of components that go into the manufacturing/ assembling of finished Goods. Once, the Bill of materials is created, you can use Manufacturing Journal and specify the quantity of finished goods that are to be manufactured. In This Section: Manufacturing Journal Voucher Type Manufacturing Journal Voucher Damaged/Scrapped Item Details Stock Cost Estimation

Bill of Materials

Manage Inventory in Manufacturing Use of inventory in manufacturing is a common aspect in businesses. If you deal with manufacturing products and therefore maintain inventory, you can manage all of them using TallyPrime. Bill of Materials for a Stock Item A Bill of Materials is a list of constituent items along with quantity details that can be allotted for the manufacture of a certain product, by-product or likewise. This facilitates immediate reduction in stock of the item automatically. This process of listing the items that make up another item is made possible in Tally by enabling the Bill of Materials Facility.  Bill of Material (BoM) is created only for those items that are being assembled in-house. Therefore, you need to specify a BoM at the time of creating a Stock Item or while altering the stock item. For trading items, you do not need a BoM. Bill of Material feature is useful for manufacturing organisations and can be set up through F12 (Configure). In this section Set ...

Inventory Batch-wise

Manage Inventory Batch-wise in TallyPrime If you maintain inventory or stock items in lots, you can store them using the Batches feature in TallyPrime. Batches help in better management of stock items with limited shelf life or perishable goods. In TallyPrime, you can create a batch on the fly by only specifying a batch name. You can assign manufacturing and expiry dates and allocate the stock items to one or more batches as per your business need. With batches, you can identify stock items by referring to the batch details at any given time. In This Section: Set Up Batches for Stock Items Sell Stock Items from Batches Batches for Purchased Stock Items Batch Summary Batch Vouchers Disable Batches for Stock Items in TallyPrime

Job Work

Job Work in TallyPrime Job Work in TallyPrime enables you to record transactions related to Job Work with ease. The Job work functionality in TallyPrime has the following features: Simple and user-friendly Quick and easy to set up and use Job Work Out Process  Record Job Work Out Order by capturing the details of Components to be issued and Finished Goods/Scrap to be issued Account the Receipt of Components towards a Job order or directly record the Material receipt by creating the Job Order. Flexibility to account the Receipt of Finished goods without raising Job Work Out Order and Material In voucher Track cost against the Job Work Out Orders  Job Work In Process Record Job Work In Order by capturing the details of Components to be received and Finished Goods /Scrap to be delivered Account the Receipt of Components towards a Job order or directly record the Material receipt by creating the Job Order. Flexibility to account the delivery of Finished goods without raising Job W...

Job Costing

Job Costing Job costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. In Tally, you can track the cost and revenue information like material, labour, and overhead for a specific job, even to the smallest detail. With a view to ascertain the actual costs incurred for each job, each job is assigned a job number or a job name. With Job Costing, you can do the following: Determine the actual cost for each job, location-wise. Determine the revenue and expenditure, and therefore the profit associated with each job. Track overhead costs by allocating them for each job. Identify the losses on projects at an early stage. Job Costing – An Overview You can create multiple jobs or projects as cost centres, and track the cost and revenue associated with each project. You can also allocate costs while the job is in progress. On completion, you can compare the selling price and profit with estimates, and make informed dec...

Inventory Storage

Manage Inventory Storage Using Godowns/Locations in TallyPrime In your business, you may be managing the inventory in multiple physical locations, such as shops, warehouses, bins, racks, cabinets, and so on. In this case, you can use the Godowns/Locations capability of TallyPrime. Using godowns will help you keep a record of inventory moving from one project or manufacturing stage to another. Similarly, you can also track the stock moving in and out of your business premises for consignment sales or job work. You can view stock reports for each godown and account for the movement of stock between godowns. In This Section: Godowns for Inventory Storage Transfer Stock Inventory Storage Area-wise Print Godown Address

Inventory Reports

Inventory Reports in TallyPrime The transactions entered in TallyPrime are immediately posted to the respective ledgers, books and registers. The inventory reports in TallyPrime are generated based on these transactions. This facilitates instant reporting and faster decision making.  The appearance of reports can be changed according to your requirements. You can generate comparison reports between different companies, periods of the financial year, and so on. Here are the inventory reports in TallyPrime: Track Your Inventory | Stock Summary Stock Summary in TallyPrime is a statement of the real-time stock-in-hand on a particular day. It is one of the primary inventory statements that gets updated in real-time as and when you record transactions. If you have maintained the inventory in groups, transferred stock for various business needs, sold or purchased stock items, TallyPrime helps you view all of them using the Stock Summary report. Location/Godown Summary It is one of the inv...

Inventory Entry

Inventory Only Entry in TallyPrime Inventory Management in TallyPrime allows you to keep track of your inventory from placing an order for goods with your supplier to getting them delivered. You can keep track of the goods at all stages. You can send a receipt note to your supplier once you receive the goods at your location. You can record the transfer of materials from one location to another and have visibility of what goods and quantity are available with you at all times. You have features that will help you place an order for goods with your supplier when the stock is below the limit that is defined by you. Inventory only entry in TallyPrime allows you to track the items that you have sent to your customers, send them delivery notes with the goods sent. Record job works vouchers and manufacturing journal that will give you a clear view of what quantity of items and what items were used for manufacturing. You also have the option to record the finished good, co-products, by- produ...

Configure Tax Details Payroll

Configure Tax Details in TallyPrime (Payroll) You can use the Tax Configuration screen to make all the necessary configuration in the following areas: In This Section :  Salary as per provisions contained in Sec 17(1) Details of Perquisites Details of Profits in lieu of Salary Details of Allowances U/s 10 Deductions U/s 16 Other Income Declared by Employees Deductions Under Chapter VI-A Reliefs Tax Deduction Details

Previous Employer Details payroll

View Previous Employer Details in TallyPrime (Payroll) To compute the income tax and generate Form 16 for employees who joined the organization during the course of the financial year, you have to enter the income received from the previous employer along with the taxes that they have paid. Previous Employer Income/Exemption Details 1. Gateway of Tally > Alter > type or select Previous Employer Income/Exemption Details. Alternatively, press Alt+G (Go To) > Alter Master > type or select Previous Employer Income/Exemption Details and press Enter. In case the master is inactive, you will be prompted to enable the Payroll feature for your Company. Select Yes or press Y to proceed. 2. Select the required Employee from the List of Employees, and press Enter. 3. Specify the required Income Tax Component in the Particulars of Previous Employer Income/Exemption field. 4. Specify the start date in the Effective From field. 5. Specify the value in the Income Amount field.  6. Spec...