How to Setup GST in Tally

How to Setup GST in Tally
To record a GST transaction, you have to activate GST and also update or create the required ledgers.

To know more about using Tally.ERP 9 for GST compliance, watch the following video to use Tally.ERP 9 for GST compliance,

1. Activate GST
2. Set up tax rates
3. Update or create ledgers as required.

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 that unique 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 and expense ledgers to distribute the expenses and incomes against items appropriately.

Refer Below Video to know How to Setup GST on Tally

https://www.youtube.com/watchv=BCpZZu-DwjI&t=2s

Your company is ready with all the masters.

• Recording Sales
• Recording Purchases

Source tallysolutions.com