Creation of Masters - Tally

Tally.ERP 9 allows you to create different ledgers for different types of Loans / Salary Advances.Create the following ledger:


I. Create Salary Advance Ledger

Go to Gateway of Tally > Payroll Info. > Pay Heads > Create

  1. Type Staff Salary Advance in the Name field
  2. Select Loans and Advances in the Pay Head Type field
  3. Specify the group as Loans and Advances (Asset) in the Under field and press Enter
  4. Set Affect Net Salary to Yes
  5. Type Staff Salary Advance in Name to Appear in Salary Slip field
  6. Select User Defined Value in the Calculation Type field
  7. The completed Staff Salary Advance Ledger creation screen is displayed as shown:

    Salary Advance Ledger

    Salary Advance Ledger

  8. Press Enter to accept.

The Calculation Type can be taken as Flat Rate if you wish to deduct the Loan Amount in Flat installments (EMI’s). In this case the Pay Head should be removed from the Pay Structure after the entire amount is recovered from the Employee’s salary.

All rights reserved © 2020 Wisdom IT Services India Pvt. Ltd Protection Status

Tally Topics