How to Create Expense Ledger in Tally Prime?
Step: GOT > Create > Ledger
Ø In ledger screen fill all details for Expense ledger like,
· Name – Type name of Expense like I type “Rent on Land”
· Under – Select “Indirect Expense”
· Is TDS applicable – Select ‘Applicable’ for TDS deduction
· Nature of Payments – Select Nature of Payments for Rent on Land like I select “Rent for land and building/Furniture & fixture”.
Ø Fill all above details like following screenshot:
TDS & TCS in Tally Prime
Ø Press Ctrl+A to save this screen
Ø Practice Exercise for Create Expense Ledger, for You
Name
Under
Is TDS applicable
Nature of Payment
Audit fees
Indirect Expense
Applicable
Professional fees
Horse Race
Expense
Indirect Expense
Applicable
Winning from Horse
race
· Process 4: Create Deductee Ledger to Paid Expense
