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If Tax value display in balance sheet in Composition Company then how to resolve it in Marg Software ?

339

Ans.1

Cause: This issue appears when earlier company was Register but now have changed company status to Composition and old bills are still under taxable.

If Tax Value display in balance sheet in Composition Company, then this issue can be easily resolve in Marg Software.

In order to resolve this issue, the user needs to follow the below steps:

  • Go to Reports > Management Reports > Utilities > Multi Editing > Multi Changes in Old Bills.

Note: If show 'Sorry! You are not Authorised to use this option' Please Click Here

  • 'Multi Transfer' window will appear.
  • In 'Type' option, the user will select type of transaction in which the tax needs to be updated.
  • Suppose select 'Sale'.
  • Enter Date from which Date till which date, the user needs to change the tax status of the bills.

Note: The user needs to mention the date from which his Gst Registration has been changed to Composition.

  • Then click on 'Accept'.

  •  Again a 'Multi Transfer' window will appear.

Note: Press the 'SpaceBar' key to select a particular Bill or Press Asterisk (*) key to select all bills.

  • Then press 'F6' key on it.

  • Then select 'Change with Current Tax'.

  • Then a 'Be Careful !' window will appear.
  • In 'change', the user will select 'All' and type 'SURE'.
  • Then press 'Enter' key on it.

After following the above steps, All bills will get re-save for the changes and after resave bill the Tax will not show in Balance Sheet.

Fig 1. View of Duties & Taxes in Balance Sheet.


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