Tally scenario management is a very effective tool that helps us to view different reports by entering some projected or provisional entries without effecting the main books of accounts.
This can be done in the following way: -
F-11 Activate optional vouchers
Tally gives us option of creating, displaying and altering the scenario.
To know more about scenario, first enter few entries which doesn’t affect the books of accounts by using optional voucher mode ctrl +l
Optional Vouchers: - Optional vouchers are “Non Accounting” vouchers.
Thereafter by selectively including certain types of vouchers.
We can see clearly from the picture above that any kind of entry created in memorandum vouchers can simultaneously take it’s effect in the Scenario Two.
Point of Sale is a used in retail billing system, where customer personally selects the goods, usually this type of billing is seen in big Malls.
Tax deducted at source is one of the methods of collection of income tax by government, the payer deducts tax from payee and deposit it with income tax department. After deducting income tax, payer issues TDS certificate to payee, (Form 16A), for payee form 16A is treated as advance payment of tax, nature of payment like: - Rent, interest, professional fee, contractor payment etc. Company TAN no., deductee type, Ward no, name of person responsible are required to be given.
TDS challans are reconciled when tax is deposited in the bank account
These particulars mentioned in challan reconciliation will help to generate TDS certificate report.
Quarterly E-TDS return can also be filed with the help of tally E-TDS feature
Tally creates “txt file” which can be copied on a floppy/CD and filed with the tax authorities.