Here are the steps for Rent Income Entry with GST. To learn more, you can also watch this RADIX Online tutorial video:



Rent Income Entry with GST


For Rent Income Entry with GST in Radix, select the desired company.


Firstly, we need to create a new Item.


1. Go to Masters > Item > Item Entry.


2. Item entry form will open. Set details here such as:

       Name - Enter Rent Income name here.

Type - Select Non Inventory option here.

UOM #1 - Select Pieces option here.

UOM #2/#3 - Delete Cut and Meters from here and keep these fields blank.

Primary UOM - Select Pieces option here.

Rate Per - Select Pieces option here.


3. Click on 4 GST Details Tab and select other details such as:

       Service Code (SAC) - Press F4 button and select the Service Code for Rent Income, from the list of SAC displayed.


4. Click on Save button. Rent Income item will be created.



Next, we need to create a new Account.


1. Go to Masters > Accounts > Accounts.


2. Accounts entry form will open. Set details here such as:

       Name - Enter Rent Income name here.

Group - Select P&L Incomes group here from the list of groups displayed.


3. Click on Save button. Rent Income account will be created.



Next,        1. Go to Masters > Others > Classification > Classes.


2. Classes form will open. Set details here such as:

       Code - Enter Rent Income name here.

       Description - Rent Income will be displayed here, press Enter key.

       Level No - Enter 1 here.

       Function - Press F4 button and select Sales Invoice from the list of options displayed.

       Day-book - Press F4 button and select the day-book Sales Invoice Income from the list of options displayed.

       Account - Press F4 button and select the account Rent Income from the list displayed.


3. Click on Save button. Rent Income class will be created.


4. When Radix prompts, 'Rebuild Ledger, Do you want to rebuild ledger?', click on Yes button.


5. Once done, press ESC key or click on Close button.



Next,        1. Go to Transactions > Sales > Invoices.


2. List of day-books will be displayed. Select the Sales Invoice Income day-book and click on OK button.


3. Selected day-book's entry form will open. Set details here such as:

       Date - Enter the date here.

       Account - Press F4 key and select the account from the list of accounts displayed.

       Type of Supply - Select Service here from the list of options displayed.

       Class - Press F4 key and select Rent Income class here from the list of options displayed.

Item - Press F4 key and select Rent Income item here from the list of options displayed.

Amount - Enter the amount here.


4. Click on Save button. Invoice will be saved.