Expenses Entries in Tally under GST
Act
A
business may incur day-to-day expenses such as rent, telephone bills, Internet
Bill, stationery, petty-cash expenses, and so on, to carry out the operations.
These expenses attract GST.
If
you are a registered dealer and purchasing from another registered dealer, and
paid GST at the time of payment or purchase, you are eligible to claim the
Input Tax Credit. Ensure to enable the expense ledger with GST.
You can use either a purchase
voucher, or a journal voucher, or a payment voucher to record the business
expense.
Record an expense using a
purchase voucher
You can record an expense
using a purchase voucher. This will auto-calculate the GST amounts.
From Gate way of Tally >Accounting Vouchers >F9: Purchase >I: Accounting Invoice
Select the party ledger, and then the expense ledger, along with
the tax ledgers, and save.
Record an expense using Journal Voucher Record an expense using
Journal Voucher
You can record expense using
a journal voucher as well. Here, you need to enter the GST amounts as they will
not be auto-calculated.
From Gate way of Tally >Accounting Vouchers >F7: Journal
Debit the Expenses ledger, Debit the tax ledgers, and credit the Party
ledger, and save.
Record an expense in a payment voucher
Expenses
can also be recorded using payment vouchers. Here, you need to enter the GST
amounts as they will not be auto-calculated.
From Gate way of Tally >Accounting Vouchers >F5: Payment
Press F12 twice and enable
the options Show Party Details for GST? And Allow modification of tax details
for GST?
Select the cash/bank ledger
and enter the party details with State and Registration Type.
Press
Enter. Select the expense ledger and the tax ledgers.
View the expenses under
GSTR-2
All expenses get listed in
GSTR-2. To view GSRT-2,
Go to Gateway
of Tally> Display >
Statutory Reports > GST
> GSTR-2.
Any Further
Queries please feel Free to Contact us:
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