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GST reconciliation from portal to tally

06 September 2024

how to pass journalentry for GST payable and how to match cash ledger credit ledger from portal to tally

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5148 Points)
Replied 06 September 2024

To pass a journal entry for GST payable in Tally: 1. Go to Gateway of Tally > Accounting Vouchers > F7 (Journal) 2. Debit: GST Payable (under Current Liabilities) 3. Credit: Output GST (under Indirect Expenses) Example: Debit: GST Payable (4000) Credit: Output GST (4000) To match the cash ledger credit ledger from the portal to Tally: 1. Ensure you have enabled GST in Tally and configured the GST details. 2. Go to Gateway of Tally > Display > Day Book 3. Verify the GST transactions are recorded correctly. 4. Go to Gateway of Tally > Display > Ledger 5. Select the Cash Ledger and verify the GST amounts are correctly reflected. 6. Select the Credit Ledger and verify the GST amounts are correctly reflected. 7. If there are any discrepancies, adjust the entries accordingly. Additionally, you can reconcile the GST amounts in Tally with the portal by: 1. Generating the GST report in Tally (Gateway of Tally > Display > GST Reports) 2. Comparing the report with the portal's GST summary If you need further assistance or have specific questions, please feel free to ask!

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prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 06 September 2024

First you pass Cash transfer from Bank to Electronic Cash leader after adjustment of ITC ,GST payable.

Electronic Cash ledger A/c Dr
To Bank A/c Cr
( Cash transfer from Bank to Electronic Cash ledger)

Then you pass payable entry

Output GST payable A/c Dr
Input GST (credit). A/c Cr
To GST payable A/c Cr
( Output GST payable after ITC adjustment)

Payment entry

GST payable A/c Dr
To Electronic Cash ledger A/c Cr
( payment made through electronic Cash ledger)