Stock Groups in Inventory are similar to Groups in Accounting Masters. They are helpful in the classification of Stock Items. As per requirement of the business numerous items can be created, but to generate a report on similar types of stock items you need the classification of stock items. This classification will help you to get …
For GST Transaction in Tally.ERP9, first we have to Activate GST in Tally.ERP9 as a Regular Scheme. Next, the following Ledgers are essential and required to Create for GST transactions.. Bank Account Party Ledger (Debtor / Creditor) GST Ledger Sales Ledger Purchase Ledger Service Ledger Rounded Off (+/-) Ledger 1- Activate GST for Your Company …
TallyERP9 Tutorial Part-4: Ledgers for GST Transactions Read More »
A ledger is the actual account head to identify your transactions and are used in all accounting vouchers. For example, purchase, payments, sales, receipts, and others accounts heads are ledger accounts. Without a ledger, you cannot record any transaction. All Ledgers have to be classified into Groups. These groups and ledgers are classified into Profit and …
Groups are collection of ledgers of the same nature. Account groups are maintained to determine the hierarchy of Ledger Accounts, which is helpful in determining and presenting meaningful and compliant reports. Using this you can generate reports, which are meaningful as well as compliant with laws. 1. Default Groups in TallyERP9 At the highest level, accounts are …
