Financial Statements - Schedule VI

Quick Tax Setup

You are starting a new business or a new taxation policy has been introduced in the state, and your business has to adhere. Imagine the situation now to set up your software tools to address the complicated tax computation, train your staff to understand the new tax laws to mark changes to in all new transactions, and continue to run the business without any worries. In this situation it would be helpful if you have a wizard to help you through the configuration of the tax modules on your Tally.ERP 9 and let your staff continue the business the way it was meant to be without having to worry about mistakes.

Quick configure, quick benefit:
Quick set up is a powerful wizard that will guide you to configure statutory masters required for the effective use of a particular statutory module. It is a one time, step-by-step configuration that will ensure the tax rates/percentage for various items and services, tax assessment number, name and designation of person incharge of business etc. are set up for your business accurately. It only takes few minutes to configure and if there is a change in the taxation policy in future, you will have to reconfigure the values. Quick setup is a single window statutory master configuration screen that allows configuring accounts and inventory masters required for every statutory module. Quick setup allows you to make required basic configurations to the masters to account statutory transactions. It also allows making advance configurations, wherever applicable. With quick setup you will be able to select the tax module of your choice in one step without having to go through the entire menu option.

Quickly configure different taxation modules:
Quick setup has different configuration screens for specific statutory modules. For example if you select the quick setup for Tax Deducted at Source (TDS) module, it guides you step-by-step to configure only those masterswhich are applicable for TDS. Similarly to configure masters for other taxation modules you have to select the appropriate quick setup screens.