Commerce

Invoicing in Tally PRIME

Posted by Asok K Nadhani on

In Basic Financial Accounting part, we have explained Accounting Vouchers for recording monetary transactions. Now we discuss about Accounting Vouchers like Sales, Purchase, Debit Note, Credit Note with Inventory details also.

Inventory linking in Ledger Accounts in Tally PRIME

Ledger Account Creation / Alteration has been explained in Basic Financial Accounting part. Some additional details are to be set up for Inventory linked Ledger Accounts (like Sales, Purchase, Sales Return & Purchase Return), to link with Inventory system.

At Ledger Creation (GoT>Create>Ledger) / Alteration (GoT>Alter>Ledger) screen, set Yes at Inventory Values are affected (F-1A), to enable Inventory details entry for such ledger accounts in Voucher.

1.1 Ledger Account Configuration

Click F12:Configure and set Yes at Use Inventory Allocations for Ledgers (F-1B).

Party Ledger Accounts set up for Invoicing in Tally PRIME

Party Ledger Accounts (Customer / Supplier) has been explained in Basic Financial Accounting part.

To enter additional info for Invoicing, at Ledger Creation (GoT>Create>Ledger) / Alteration (GoT>Alter>Ledger) screen . At Party Ledger Account Creation / Alteration screen , enter the respective details. Click I:More Details button and enter the desired additional details .

2.1 Party Ledger Configuration

At Party Ledger Account Creation / Alteration, click F12: Configure to set Configuration options

Purchase Ledger Inventory Linking -1.mp4 in Hindi

Sales Ledger Inventory Linking -2.mp4 in Hindi

Inventory Linked Ledger Accounts in English

Inventory Details Entry in Accounts Voucher in Tally PRIME

Entry of Accounts Voucher (GoT>Voucher) like Sales (F8), Purchase (F9), Debit Note (Alt+F5), Credit Note (Alt+F6) have been explained earlier in Journal Book chapter in Basic Financial Accounting part.

At first ledger Account, select the Party Account and Amount as explained earlier. Next, on entry of Inventory Linked Ledger Account (like Purchase, Sale Ledger Account etc), and Amount, you get the Item Allocation screen to enter the Item Details for the selected Ledger account, as follows:

  • Item Name:At Name of Item field, select the Stock Item
  • Quantity: Enter the Quantity. The UoM of the Item is displayed at Per field
  • Rate: Enter the Rate per Unit (you may leave the Rate column and enter amount directly)
  • Item Value:At Amount field, the computed Amount (as per Quantity & Rate) is displayed, which you may change.

This way, enter all the Items to complete the Ledger allocation. The total Item Value must match the entered Ledger Amount .

After entry of Inventory Linked Ledger Accounts and the Inventory details , you may enter other Ledger Accounts(if any), in the main voucher screen . When the total of Debits equals to total of Credits, the ledger entries are terminated. Enter Voucher Narration and save the voucher .

Manually created Sales Invoice are normally entered in Voucher mode as all details are available in the manual invoice. Purchase Invoice are normally entered in Voucher mode as the details are available in supplier’s Invoice, which becomes the Purchase Invoice for Buyer.

Purchase Voucher Entry -3.mp4 in Hindi

Sales Voucher Entry -4.mp4 in Hindi

Accounting Voucher Entry with Inventory Details in English

Invoicing in Tally PRIME

In Inventory Voucher Entry in Voucher form, explained as above, accounting details are entered first and then Inventory allocation of the ledger account is entered (useful for entry of manually created Invoice). Now, we discuss Invoice Entry (Item Invoice Mode), useful for on-line Invoice entry (F-4C). Stock Item details (Item, Rate, Quantity etc) are entered (F-4C/F-4B). The computation of Invoice for each Item, automatically gets done during entry (F-4B) (manual computation not needed).

Sales Invoice Entry in Tally PRIME

At Sales Voucher entry screen, as explained above, click H:Change Mode (or press Ctrl+H) and select Item Invoice (F-3A) to get Invoice entry screen .

At the header, select Party Ledger Account . Next select the Sales (for sales Invoice) / Purchase (for Purchase Invoice) Ledger Account . Next, enter Item Details as explained in Voucher entry with Inventory details . To terminate Items entry, press <enter> at Name of Item.

Sales Invoice Entry -5  in Hindi

Next enter other ledger accounts (Ledger Account, Amount), if any. The Net Invoice value (Total Item Value and Other Ledger Accounts) is shown. Type Yes at Accept Yes / No to save the Invoice.

Sales Invoice Entry Configuration

At Invoice Entry, click F12:Configure to set the Configuration options

Purchase Invoice entry in Tally PRIME

Like Sales Invoice Entry, enter Purchase Invoice with Item details . For Purchase Invoice entry, to enter the supplier Invoice reference also ,

Purchase Invoice Entry Configuration in Tally Prime

Purchase Invoice Entry Configuration (click F12) set Yes at Provide Supplier Invoice Details (F-5A),  In Invoice entry screen, enter Supplier Invoice Number and Invoice Date for reference (F-5C).

Sales Purchase Invoicing in Tally Prime in Hindi

Inventory Voucher Class in English

Invoicing in English

Discount Entry in Invoice in Tally PRIME

Discount means some reduction in price offered by seller to customer. To allow Discount against each Item in Invoice, click F11 to get Company Features (F-6A).

Under Inventory section,set Yes at Use Discount Column in Invoices. Consequently, you get Discount column during Invoice entry (F-6B).

At Item allocation screen (F-6C), enter Discount Rate (in %) at Discount column against the respective Item. The computed Net Amount (Product value less Discount) is displayed at Amount column.

Stock Journal Voucher in Tally PRIME

Stock Journal Voucher is used to make internal stock adjustments Stock Adjustment (e.g., shortage, wastage, excess or any other increase or decrease in stock), stock transfers, etc.

At Voucher entry screen, click Alt+F7 to get to get Stock Journal Voucher entry screen (F-7A). Enter the Voucher Date.

At left part, enter the Source (Consumption : i.e Items OUT, e.g for Shortages found, Transfer Out, etc) Item details (Item name, Quantity, Rate & Amount). Similarly,  at Right part, enter the Destination (Production) Item details.

Apart from Stock adjustment, Stock Journal Voucher is also used for Manufacturing, Assembling, Disassembling etc, in which Items consumed are entered in Source (Consumption) section, and Items Produced are entered in Destination (Production) side.

The quantity as entered for the Item in Source column is reduced from Stock, and the quantity as entered for the Item in Destination column is added in Stock. The Item, Quantity & Value may differ between Source (Consumption) & Destination (Production).

Other Inventory Vouchers : Apart from Stock Journal Voucher, you may create Delivery Note for Goods Delivery (Alt+F8), Receipt Note for Goods Receipt (Alt+F9), Physical Stock on physical verification (Ctrl+F7), to adjust the difference between Book Stock & Physical Stock.

Stock Journal Entry in Tally Prime in Hindi

Stock Journal Entry in Tally Prime in English

Invoice Printing in Tally PRIME

Voucher printing options and steps are explained in Accounts section. Here we explain additional steps related to Invoice Printing. After Sales Invoice entry, you may immediately print Invoice, or print in a separate session after Invoice Entry.

At Invoice Entry / Alteration screen, press Ctl+P to get Invoice Printing screen (F-8A).

At Invoice Printing screen, Click C:Configure (or Type C) and change Configuration options as desired (8B-1 to 8B-3), setting Copies option (F-8C)

Click I:Preview (or Type I) to  preview the Invoice before printing (F-8A), Click P:Print (or Type P) to print the Invoice on Printer in desired Format (F-9A/ F-9B).

Sales Invoice issued by Seller to Buyer becomes Purchase Invoice for the Buyer. So, Purchase Invoice is normally not printed by Buyer. However, Buyer may print in its own Format for internal use, in the same way as Sales Invoice. Debit Note & Credit Notes are also printed in same way.

Number of Copies Printing set up

Click I:Preview (or Type I) to  preview the Invoice before printing (F-8A), Click P:Print (or Type P) to print the Invoice on Printer in desired Format (F-9A/ F-9B).

Invoice Printing Configuration in Hindi

Invoice Printing Configuration in English

Sales Invoice issued by Seller to Buyer becomes Purchase Invoice for the Buyer. So, Purchase Invoice is normally not printed by Buyer. However, Buyer may print in its own Format for internal use, in the same way as Sales Invoice. Debit Note & Credit Notes are also printed in same way.

Invoice Printing in Hindi

Invoice Printing in English

Invoicing in Tally PRIME – Key Points

  • Invoice Entry / Alteration screen (F-4C / F-6B) screen में  Ctrl+P से  C:Configuration button से Configuration set कर  (8B1 to 8B3) P:Print button Printer में  Invoice Print करे.
  • Voucher entry screen में  H:Change Mode (Ctrl+H) से  As Voucher select कर  Voucher mode में  entry करे, Accounting Invoice select कर  Accounting Invoice mode में  entry करे, Item  Invoice select कर  Invoice mode में  entry करे.
  • Voucher / Invoice printing के लिए  Voucher / Invoice entry screen में  Ctrl+P से  Printing screen में  C:Configure button से  Configuration set कर  P:Print button से  Voucher / Invoice Print करे.

Invoicing in Tally ERP9-PDF