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How to create RCM Voucher Entry in Marg Software ?

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Overview Of RCM In Marg Software

Process To Enable RCM In Marg Software

Process To Create Goods/Services Ledger In Marg Software

Process To Create RCM Voucher Entry In Marg Software

OVERVIEW OF RCM IN MARG SOFTWARE

  • Reverse charge is a mechanism where the recipient of the goods or services is liable to pay Goods and Services Tax (GST) instead of the supplier.
  • Typically, the supplier of goods or services pays the tax on supply. Under the reverse charge mechanism, the recipient of goods or services becomes liable to pay the tax, i.e., the chargeability gets reversed.

PROCESS TO ENABLE RCM IN MARG SOFTWARE

  • Go to Masters > Marg Setups > Control Room.

  • A 'Control Room' window will appear.
  • The user will select ‘Search in All’.

  • A 'Controls' window will appear where the user will search 'Rcm'
  • Click on ‘Accept’.

  •  A 'Rcm' window will appear. 
  • In ‘Reverse Charge (RCM) applicable on’, the user will select 'All' and '2'.

  • The user will now press 'ESC' key twice.

  • Now click on ‘Yes’ to save the changes.

Note: The user needs to Run File Maintenance for Implement Option.

PROCESS TO CREATE GOODS/SERVICES LEDGER IN MARG SOFTWARE

  • Go to Masters > Ledger Master > Ledger > New Ledger.

  • An 'Under Group' window will appear.
  • The user will select 'Expenses (Indirect) (Admin. Expenses)'.