In "How to Record VAT for Indonesia in Tally.ERP 9?", we have taught the simple procedure. You can use it when you buy or sell in Indonesia. But, if any Indonesia company had import from other country and started selling in Indonesia, then, you need to learn some new procedure.
1. Activate Multi-Currency in Tally
First of all, you just go to gateway of Tally where you have to allow multi-currency to yes.
2. Create Import and Creditor Ledger Account
You have to create import ledger account under purchase account. Now, create the ledger of your supplier and keep it under sundry creditor.
3. Create Export and Debtor Ledger Account
You have to create export ledger account under sale account In the field of used in VAT returns, you have to write yes and you see the pop up where you have to choose export - with L/C in VAT/ Tax class.
Create name of part to whom you are exporting and you must keep it under sundry debtor.
4. Pass the Voucher Entry of Import
Now, you have to pass the purchase voucher entry of import. Choose purchase voucher in accounting vouchers. You have to choose imports in required purchase ledger field in voucher entry. Now, choose the item. If you did not create it, create now by short-cut Alt+ C and write the quantity which you have imported. If Indonesia company has imported from India, you need to create this currency first in account info. If you do not create, create it Now, in the rate section, write its symbol as INR and then write the rate. It will show you pop up if you press enter. Where you have to see today rate. Today, one India rupee is equal to 206 Indonesia's rupaih. So write Rp 206/ INR. With this, your import will convert in your indonesia's currency when you see your profit and loss account or financial statement. Now, accept this voucher entry.
5. Pass the Voucher Entry of Export
If you are doing export from Indonesia, you need to pass the sale voucher for recording it. In sales field, you have to select export. In party file, you have to write the name of your customer. In VAT /Tax class, you need to select Export with L/C. Now, write the name of item which you are exporting. Write its quantity and for showing the rate, we the symbol of currency of country to whom you are exporting. If you did not create, create it with shortcut Alt+C. Now, write rate and then you see pop up where write the value of Indonesia rupiah with one foreign currency. For example, you are exporting to Mr. Sohan. So, you have to show Rp 206/ INR. With this, your export will convert into your local currency in your financial statements.