Home Busy Accounting Software Unit 6 – Transactions 125

Unit 6 – Transactions 125

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Unit 6 – Transactions 125

Item Details Grid

Although no name is given to this grid in voucher, we have given it a name in the Courseware for your convenience. In the Item Details grid, you can specify details about the items sold. Various fields in the Item Details grid are:

Item

Select required item from the list. The list will display name / alias of all the Item masters.

Qty.

Enter quantity of item sold.

Unit

By default, the unit as specified in the selected item will appear in this field. You can change it to any other unit if the conversion factor exists between the main unit as specified in the Item master and the unit you are selecting in this field.

Price

Enter the price in this field at which you are selling the item.

Amount

By default, the amount calculated by multiplying the quantity and price is displayed in this field. You can change the amount as per your requirement. If you change the amount then the price will be adjusted automatically. On pressing the Enter key, after entering the amount in the Amount field, an Item-Wise Sales Tax window or Item–Wise Tax Information window appears.

Let us discuss both these windows one by one.

Item-Wise Sales Tax window appears if the option of Multi-Tax is enabled in the Sale Type master selected in the Sale Type data field. The window will appear with each item in the Item Details grid. Given here is a screenshot of Item-Wise Sales Tax window.

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Figure 6.4 Item-Wise Sales Tax

In the Item-Wise Sales Tax window, there are various data fields. The data fields are:

VAT % – Specify the rate at which VAT is to be charged on item.

VAT Amt – Depending on the VAT %, VAT amount is calculated and displayed in this data field.

You can change this value as per your requirement.

Schg % – This data field appears if you have enabled and configured Enable VAT / CST Surcharge in Administration à Configuration à Features / Options à Sales Tax / VAT / GST tab. Enter the rate at which surcharge is to be charged.

Schg Amt. – Depending on the surcharge percentage, surcharge amount will be calculated and displayed in this data field. You can change it as per your requirement.

Type – This data field gets active only if you specify value as ‘0’ in the VAT % data field. In the data field, three options appear in which you have to select the reason for the 0% tax rate.

Final Amt – This data field displays the final amount i.e. item amount plus VAT amount and surcharge amount.

Let us now discuss the Item–Wise Tax Information window. This window appears if you have enabled the option of Tax Inclusive in the Sale Type master selected in the Sale Type data field. Given here is a screenshot of Item-Wise Tax Information window.

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