TallyPrime Volume-2 (Purchase & Sales voucher, Bank Payment, Bank Receipt, Cost Centers, Interest Calculations, Use separate Actual & Billed Qty columns in invoice, IGST, Multiple Pric, sales Voucher class, IGST, Multiple Price Level)

 How to Enable GST in TallyPrime ?

Press F11 Features -> Taxation (Enable Goods & Service Tax (GST) -> Yes

-> Purchase & Sales Voucher

Transaction No - 7 (01-04-2020)

Mr. Rai Purchased the following items from Mr. A2Z Traders on credit.

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	GST 18%
High capacity stabilisers	100	600	60000	?

Following Ledgers are requirements

1) Purchase A/C.

2) CGST

3) SGST

4) MR A 2 Z Traders (SUPPLIER)

5) Stock Item Creation

Create -> Stock Item

Transaction No : 8

Transaction No - 8 (01-04-2020)

Mr. Rai Purchased the following items from Mr. A2Z Traders on credit.

 

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	GST 18%
Low Capacity Stabilisers	100	400	40000	?
Open well Pumps	50	1500	75000	?
Submersible Pumps	100	2000	200000	?

Transaction No - 17 (01-05-2020)

Mr. Rai sold the following items for cash, details are as follows.

 

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	GST 18%
High Capacity Stabilisers	50	850	42500	?
Open well Pumps	15	1700	25500	?

Transaction No - 01 (01-04-2020)

Anurag Rai started smart Agencies by bringing in capital of Rs. 1500000 by cheque and deposited the same in ICICI bank by opening a new account.

Bank Receipt :-

Create-> Voucher Type ->

Select voucher type -> Receipt

Abbreviation -> Rcpt

Active this voucher -> yes

Method of voucher numbering -> Automatic

Use advance configurations -> yes

Transaction No - 03 (01-04-2020)

Mr. Rai Purchased furniture and fixture worth Rs. 150000 for the shop by cheque. 

Bank Payment :-

Create-> Voucher Type ->

Select voucher type -> Payment

Abbreviation -> Pymt

Active this voucher -> yes

Method of voucher numbering -> Automatic

Use advance configurations -> yes

Transaction No - 13 (01-05-2020)

Mr. Rai paid salaries through cheque for the month of April-2021, The details are as follows

 

Name	Salary Paid	Number of Days
Rahul bhatt	Rs. 2400	18
Jairam Sengupta	Rs. 2100	18
Shishir Mathur	Rs. 1500	18
Ajit V nair	Rs. 900	18

Cost Centers :-

How to enable cost centers in TallyPrime.

Press F11 features

Enable cost centers - >yes

Press F12 configure

Show more configurations -> yes

Show cost centers details -> yes

Transaction No - 25 (01-06-2020)

Mr. Rai Purchased the following goods from Pacific Merchants on credit for 30 days. Interest is to be calculated at 10 % per annum.      

 

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	GST 18%
High Capacity Stabilisers	2000	65	130000	?
Open well Pumps	3000	160	480000	?

Interest calculations

Press F11 features

Enable Interest calculations ->yes

1)    To create a Ledger /pacific merchants (sundry creditors)

Maintain balance bill by bill ->yes

Activate interest calculations -> yes

Transaction No - 27 (01-06-2020)

Mr. Rai sold the following items to Java Trading Company on credit for 45 days. Interest charged is at 15% per annum, if payment is not made within the credit period.

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	GST 18%
High Capacity Stabilisers	25	900	22500	?
Open well Pumps	30	2500	75000	?

1)    To create a Ledger /Java trading company (sundry debtors)

Maintain balance bill by bill ->yes

Activate interest calculations -> yes

Transaction No - 36 (01-07-2020)

Mr. Rai Purchased the following items under a sales offer. He paid by cheque.

The offer is as follows,

·       On purchased of 10 high capacity stabilisers 1 HCS is given free of cost

·       On purchased of 5 low capacity stabilisers 1 LCS is given free of cost

 

Items	Purchased Quantity (in Nos)	Free of cost	Total Qty	Rate	Value	GST 18%
High Capacity Stabilisers	50	5	55	650	32500	?
Low Capacity Stabilisers	20	4	24	400	8000	?

Use separate Actual & Billed Qty columns in invoice

How to Enable?

Press F11 Features

Inventory

Use separate Actual & Billed Qty columns in invoice -> yes

Transaction No – 37 (31-07-2020)

Mr. Rai paid by cheque to Pacific Traders towards bill dated 01-06-2020

Note: Due to late payment (30 days), Mr. Rai has to pay interest (applicable at the rate of 10 % per annum) in addition to the bill amount

Due to Late Payment / Interest Due (Indirect Exp)

1)    To View the Interest

a.     Display More Reports

b.     Statement of Account

c.      Interest Calculations

d.     Ledger

e.     Select Supplier name ( Pacific Merchants)

f.       Press Alt + f2 ( change the period)

g.     1/4/2020 to 31/7/2020

h.  The Interest due, is Automatically calculated and displayed

Alter Credit Note

Go to Geteway of Tally-> Alter -> Voucher Type->  Credit Note

Name of Class : Type Simple Interest

Accept Both the voucher type class and the credit note alternation screens.

Go to Voucher

Press F2 Change the date -> 31/7/2020

Press F10 -> Other Voucher

Select Credit note (Alt + F6)

How to Posting in TallyPrime

Go to Display & More Reports

Accounts Books

Ledger

Select any one Ledger (i.e Pacific Merchants)

Transaction No – 48 (31-08-2020)

Mr. Rai received cheque from Java Trading company towards the bill dated 01/06/2020

Note: Due to late received from Java Trading company (46 days), Mr. Java Trading company has to pay interest (applicable at the rate of 15 % per annum) in addition to the bill amount.

Interest Accrued /Interest Received (Indirect Income)

1)    To View the Interest

a.     Display More Reports

b.     Statement of Account

c.      Interest Calculations

d.     Ledger

e.     Select Buyer name (JAVA Trading company)

f.       Press Alt + F2 ( change the period)

g.     1/4/2020 to 31/08/2020

h.  The Interest due, is Automatically calculated and displayed

Alter Debit Note

Go to Geteway of Tally-> Alter -> Voucher Type->  Debit Note

Name of Class : Type Simple Interest

Accept Both the voucher type class and the credit note alternation screens.

Go to Voucher

Press F2 Change the date -> 31/08/2020

Press F10 -> Other Voucher

Select Debit Note (Alt + F5)

sdf

Transaction No - 75

Mr. Rai sold the following items to Seacrest trading corporation on credit.         

 

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	GST 18%
Open well Pumps	50	1800	90000	?

SALES VOUCHER CLASS

Go to Alter -> Voucher Type -> sales ->

Transaction No - 90

Mr. Rai Purchased the following items on credit from X-Tech Services, Orissa State.

 

Items	Quantity (in Pieces)	Rate Per Prices (Rs.)	Value	IGST 18%
Submersible Pumps	50	1800	90000	?

Transaction No - 91

Mr. Rai decides to have a price list for his customers, levels were decided on the basis of old and new customers and also the volume of items purchased by customers.

 

PRICE LIST FOR OLD CUSTOMERS
Items	0-20	Discount	20-50	Discount	50-above	Discount
High Capacity Stabilisers	850	Nil	850	5%	850	7%
Open well pump	1600	2%	1600	5%	1600	6%

 

PRICE LIST FOR NEW CUSTOMERS
Items	0-20	Discount	20-50	Discount	50-above	Discount
Submerisible Pumps	2500	Nil	2500	4%	2500	8%

How to enable Multiple Price Level ?

Press F11 -> 

Go to Create -> Price levels ->

Select Price List (Stock Group)

Bank Reconciliation:

Bank Reconciliation is a routine procedure of systematically adjusting the account balance reported by a bank with the account balance on the company’s books and explaining any differences. Differences can occur if deposits are not yet cleared or cheques are not yet presented.