How to audit VAT Purchases and VAT Sales in Tally ERP 9

After we have recorded the VAT Purchases and VAT Sales we need to audit the voucher entries against the physical documents in order to submit the VAT Returns accurately to the Sales Tax Department. So, to do this Tally Solutions has set a Register called VAT Register where all the Tax Invoices will be found in a single place.

VAT Purchases Report is generate in Tally ERP 9

If you are handling your Books Accounts manually then you need to gather all your Invoices before calculating the VAT amount. If you are handing that in Tally ERP 9 it will calculate automatically, so it is better to check the Invoices in Tally ERP 9 against the physical Invoices.

In Tally Accounting Software the VAT Register holds all the Invoice details like Supplier or Customer details, Invoice Amount along with Assessable Value and VAT Values. So, let us start to audit the Invoices in Tally ERP 9 using VAT Register.

1. Load your Company where you have configured VAT and recorded the Taxable Voucher entries.
2. Select Display under Reports from Gateway of Tally.
3. Statutory Reports
4. VAT

In the VAT Register menu you can find the two sets of options to audit the VAT Purchases and VAT Sales. In order to verify the VAT Purchase entries choose the VAT Purchases option and to check the VAT Sales entries choose the VAT Sales options against the documents individually bill by bill.

If you have selected either VAT Purchases or VAT Sales in the VAT Register menu you will find the following details of the Purchase or Sale Invoices.

1. Date of the Voucher Entry.
2. From whom purchased, or to whom stock sold will be shown under Particulars.
3. If the Inventory is enabled Quantity of the transaction will be shown.
4. Total Invoice Amount.
5. Assessable Value of the invoice.
6. If any expenditure entered against the invoice it will be shown under Addl Cost.
7. What is the Tax percent rate of the Invoice will be shown under VAT/TAX Class.
8. VAT amount of the invoice will be shown under Tax Amount.

Now verify the entries bill wise against the Physical Invoices if any deviation found in the entry go the particular record and press Enter Key using the keyboard. In the Accounting Voucher Alteration (Secondary) screen effect the changes and accept the screen.

Note: If you want to know in detail press ALT + F1 Keys using keyboard or click on F1: Detailed button in Button Area.