GST on Rent Accounting with RCM & FCM in Tally Prime | Easy Tutorial

🔔 Are you confused about how to account for GST on Rent in Tally Prime? This comprehensive tutorial will guide you through the entire accounting process for rent transactions using RCM (Reverse Charge Mechanism) and FCM (Forward Charge Mechanism) in Tally Prime.
🔔 In this detailed tutorial, we'll walk you through the complete accounting process for GST Reverse Charge Mechanism (RCM) on Rent using Tally Prime. If you're a business owner, accountant, or student looking to understand how to handle GST on rent transactions under RCM and FCM, this video is for you!
What you will learn:
✅ What is GST RCM and when it's applicable on rent.
✅ Step-by-step process of recording rent transactions under GST RCM.
✅ How to create ledgers for rent, GST, and expenses in Tally Prime.
✅ How to generate accurate GST reports and ensure compliance.
✅ The difference between RCM and FCM in the context of rent.
✅ How to configure GST in Tally Prime for rent payments.
✅ Step-by-step process for creating ledgers, passing purchase/sales entries, and recording GST transactions under both RCM and FCM methods.
✅The journal entries required and how to generate GST-compliant reports in Tally Prime.
By the end of this video, you'll clearly understand how to manage and account for rent transactions under the GST Reverse Charge Mechanism in Tally Prime.
💼 Make sure to like, comment, and subscribe for more valuable tutorials on Tally Prime and other accounting software. If you have any questions, please drop them in the comments; we'll be happy to assist you!
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