VAT IN ACCOUNTING VOUCHER VAT is maintained in both Accounting and Inventory mode. If you want to maintain VAT in Accounting Voucher then follow the steps given below. To maintain:- Create a company and then activate VAT as follow:- To Activate VAT: - G.O.T. (Gateway of Tally)--> Press F11 (Company Features)--> Press F3 (Statutory & Taxation). After that press “enter”. Again press “enter” many times. Accept it by pressing “y” or “enter” key. Create ledger as follow:- Path for ledger creation: - G.O.T. (Gateway of Tally)--> Accounts Info--> Ledger--> Create (Single). Now do voucher entry as follow:- Path for voucher creation: - G.O.T. (Gateway of Tally)--> Accounting Voucher--> Press F9 (Purchase Voucher). Press F8 to open Sales Voucher. Now you can see VAT computation follow:- Path for view VAT Computation: - G.O.T. (Gateway of Tally)--> Display--> Statutory Report--> VAT Report--> VAT Computation. For more information, press “Alt + F1”.

INTEREST CALCULATION

Interest calculation is the mode of charge interest on whole or outstanding balance.

There are two types of interest calculation:-

             1)   Simple Interest Calculation

             2)   Compound Interest Calculation

Simple Interest Calculation: - Simple Interest Calculation, interest is charged on outstanding balance at the same rate of interest.

It is also of two types:-

           a)    Simple Outstanding Interest Calculation

           b)    Simple Invoicing Interest Calculation

Compound Interest Calculation: - in Compound Interest Calculation, interest is charged on whole instalment at different rate of interest.

It is also of two types:-

           a)    Compound Outstanding Interest Calculation

           b)    Compound Invoicing Interest Calculation

The methods to record these interest calculations are given in the next topics. Follow that steps and record in tally to work on it.