We have discussed the creation of payable ledger and attendance voucher entry in lesson7.In this chapter we examine how  the salary, PF, ESI voucher is entered.
Salary Processing
Gateway of tally » Payroll vouchers
Press Ctrl+F4 or click payroll button on button panel. You now have the payroll voucher
Press Alt+A or Click payroll Auto Fill, enter the details as displayed in the picture below

Press enter.  Auto filled salary voucher displayed, Loss of pay is automatically calculated based on number of leave without pay.  Now you need to enter the amount for pay heads …

In our last lesson (Lesson -6) we discussed about defining salary structure. In this lesson you can learn about payable ledger and attendance voucher creation. Payable ledger is nothing more than a normal ledger but this should be created from the following menu.
Gateway of tally »Payrolinfo»Pay heads»Create
We will create salary payable ledger first, Main part of the salary payable creation screen is displayed below. Under pay head info select Not Applicable for Pay Head Type and comes under Current liabilities as it is payable to employee

Create PF Payable, ESI Payable …

Invoice is a commercial document showing itemized products and services rendered and its agreed value. The buyer must pay seller as per term agreed. Let us discuss how to prepare a service invoice as per service tax rules.  Following are the guidelines to prepare a service invoice.

Bill should be serially numbered
Name address registration number of the service provider should be mentioned.
Service receivers name and address mentioned in the invoice.
Description of taxable services provided.
Value of the taxable services should be mentioned
Service tax payable on taxable services mentioned
Education cess and Higher secondary …

This post is aiming to give you some basic knowledge that required for registration, payment and return of service tax.
Service tax was implemented in India in the year 1994. It is the tax payable by the service provider; only except some cases service receiver should pay the tax under method reverse charge; we will discuss this topic later.
When a service provider is liable to pay tax?
If you are providing a taxable service and your last year turnover is less than 10 lakh, you need not pay service tax in current …

Tally allows you to calculate simple and advanced modeinterest easily and quickly. You don’t need to do much except entering some basic data like percentage, select yes or no for activationetc.
In modern business interest plays a vital role. Interest is the return on the money invested.When money is deposited in bank is eligible for interest; treated as income of the business. Like wise you may be paying the interest on loans, late payments etc. So interest can be treated in both ways income and expense.
Simple Mode interest calculation in tally
Let …

In tally payroll you can define salary structure of a particular employee group or a particular employee for  faster data entry. This means that you don’t need to enter all the salary heads of each and every staff in every month. Suppose your company has a common salary structure for all staff working under sales dept., in that case you can define salary structure for sales dept. employee group once and copy the same to all the employees.
Salary details creation for employee group
Now let us define structure for sales …