Practical Assignments – Basic Invoicing & Inventory – Tally
The Practical Assignments covers Basic tasks of Invoicing & Inventory, from set up, Data Entry to Inventory Reports, in Tally Prime Rel 3.x.
This assignment is in continuation to Practical Assignments of Basic Financial Accounting Perform the operations for each Assignment as explained. Capture the screenshots (Prtscr) and paste it in MS Word file in 1×1 cell. Write the number and Name of screen shot as indicated. Explain the options and operational step.
This way, capture the screenshots and place in MS Word file, in sequence. Don’t repeat same screenshot. After completing all assignments, take Back up of the data files. Now email to dvidyamail@gmail.com, attaching the Data Back Up file and screenshot zip file.
Now maintain Inventory System also in the same Company in which Accounts system data was entered.
01 : Inventory Masters 01-1 Activate Inventory system for the Company
[At K:Company tab, Click F11:Features. At Company Features, under section Inventory, set Yes at Maintain Inventory ].
Capture Screenshot :
1-1 Inventory Activation
For more details, click following links
https://dvidya.com/basic-inventory/
01-2 Create Unit of Measure (UoM)Create UoM Kg(Kilogram)
[Select GoT>Create>Unit. At Unit creation, at Type Simple is displayed. At Symbol select Kg. At Formal Name, Enter Kilogram. At Number of Decimal Places, enter 3].
Capture Screenshot :
1-2 UoM Creation
For more details, click following links
01-3 Create Stock Item GroupCreate Stock Group Food Grains under Primary
[Select GoT>Create>Stock Group. At Name, enter Food Grains. At Under, select Primary. At Should Quantities of Items be Added, set Yes]
Capture Screenshot :
1-3 Stock Item Group Creation
For more details, click following links
01-4 Create Stock Item Create Stock Item Wheat under Food Grains, Opening Stock 100 kg @ 16/- per Kg
[Select GoT> Create>Stock Item. At Name, enter Wheat. At Under, select Food Grains. At Units, select Kg. At Opening Balance, at Quantity, enter 100.000 kg. At Rate, enter 16.00. At Value, the Computed Amount 1600 is displayed. Press Ctrl+A to save].
Capture Screenshot :
1-4 Stock Item Creation
For more details, click following links
01-5 Display List of Stock Groups / Stock Items
[Display List of Stock Items in hierarchical order. Select GoT>Chart of Accounts. Select Stock Items to display Stock Groups / Stock Items in hierarchical order. Click F5:Stock Group View].
Capture Screenshot :
1-5 Stock Group View
For more details, click following links
01-6 Print Opening Stock Statement Check List in order of Stock Item Name
[Select GoT>Chart of Accounts. Select Stock Items, click Click F5:Stock Item View to display List of Stock Items in alphabetical order, showing details of Opening Stock for each Stock Item.
Capture Screenshot :
1-6 Stock Item Master list with Opening Balance
01-7 : Set Up Sales / Purchase Ledger Account for Inventory [At Sales Ledger Account. Set Yes at Inventory Values are Affected. Similarly Alter Purchase Ledger Account. Set Yes at Inventory Values are Affected]
Capture Screenshots
01-7A- Sales Ledger Inventory Linking,
01-7B- Purchase Ledger Inventory Linking,
For more details, visit : https://youtu.be/OhkDjSyHpew
02 Inventory Voucher02-1 Cash Purchase entryOn 2-4-2022, Purchased 50 kg of Wheat @ 18.00 / kg by Cash, from Sundar Singh, vide Cash Memo Number 35 dt 2.4.2023 Enter as Item Invoice.
[Select GoT> Vouchers. Click F9:Purchase. Press Ctrl+Hand select Item Invoice. At Purchase Voucher entry screen, Enter 2-4-2023 as Voucher Date. Click F12:Configure. Set Yes at Provide Supplier Invoice Number. At Voucher Entry screen, At Supplier Invoice Number, enter 35. At Date enter 2.4.2023. At Party Name, select Cash Account. At Purchase Ledger Account, select Purchase. At Name of Item column, select Wheat, At Quantity, enter 50.000 kg, At Rate, enter 18.00. At Amount, the computed value (i.e 900.00) is shown. Enter Voucher Narration (purchased in Cash from Sundar Singh). Press Crl+A to save the Voucher].
Capture Screenshot :
2-1 Cash Purchase Voucher Entry
For more details, click following links
02-2 On 1-5-2021, 10 Kg of Wheat was spoiled as the Wheat Bag was torn.
[Select GoT>Vouchers. Press Alt+F7. At Stock Journal entry screen, enter Date 1-5-2023. At Source (Consumption) at left part, at Name of Item column, select Wheat. At Quantity, enter 10.000, At Rate enter zero. and at Value, leave zero (loss). Press Ctrl+A to save the voucher]
Capture Screenshot :
2-2 Stock Journal – Voucher Entry
For more details, click following links
03: Sales Invoice03-1 Sales Invoice Entry: On 2-4-2023, sold 40 kg of Wheat @ 20.00 / kg to A K Traders.
[Select GoT> Voucher. Click F8:Sales. Press Crtl+H and select Item Invoice. At Sales Invoice entry screen, enter 2-4-2023 at Voucher Date. At Party A/c Name, select A K Traders. If the ledger A K Traders is not found, press Alt+C to get Secondary Ledger creation screen. Create a new Ledger A K Traders under Sundry Debtors, and select the Ledger. At Sales Ledger, select Sales. At Name of Item, select Wheat, At Quantity, enter 40.000. The UoM Kg is displayed. Enter 20.00 at Rate. At Amount column, Rs 800.00 is displayed. Press <enter> at next line at Particulars column to terminate Items entry. Press Ctrl+A to save the Invoice.
Capture Screenshot :
2-2 Sales Invoice Entry
For more details, click following links
03-2 : Sales Invoice Alteration : Alter Sales Invoice # 1 dt 2.4.2021 on A K Traders. Change the Item Rate from 20 to 21. Save the Invoice.
Select GoT>Day Book, press Alt+F2 and enter the period 2.4.2022 to 2.4.2022 (or select GoT>Display More Reports>Account Books>Sales Register and drill down through April). Select the Sales Invoice (#1) and press <Enter>. The Sales Invoice Alteration screen will appear Alter the Rate from 20 to 21. The value Rs 840 would be displayed. Save the Voucher
Capture Screenshot :
3-2 Sales Invoice Alteration.
04 : Inventory Reports04-1 Display Customer Ledger with Inventory Details Print Ledger Account of A K Traders with Inventory Details, Voucher Narration,
Select GoT>Display More Reports>Account Books>Ledger and select A K Traders. At Ledger Voucher of A K Traders, Click F12:Configure. Set Yes at Show Narration, Set Yes at Show Inventory Details. The Customer Ledger Account with Inventory details of the respective vouchers (like Sales, Purchase, Debit Note, Credit Note etc) would be displayed.
Capture Screenshot :
4-1 Customer Ledger with Inventory Details.
04-2 Display Sales Register Display Detailed Sales Register for 1-5-23 to 31-7-23
[Select GoT>Display more Reports>Account Books>Sales Register. Drill down through any month. Type Alt+F2 and enter Period 1-5-2023 to 31-7-2023. Click Alt+F1 to Display detailed Sales Register.
Capture Screenshot :
4-2 Detailed Sales Register (Voucher Register) with Inventory Details.
For more details, click following links
04-3 Print Stock Summary Print Stock Summary with Opening Balance, In & Out Transaction totals and Closing Stock figures, showing Quantity, Rate & Value with Stock Groupwise / Itemwise details, for the period 1-4-23 to 31-7-23
[Select GoT>Stock Summary. Click F2:Period and enter period 1-4-23 to 31-7-23. Click F5:Stock Groupwise toggle button. Click F1:Detailed toggle button. Click F12:Configure. Set Yes at Show Quantity, Show Rate, Show Value, Show Opening Balance, Show Goods Inwards, Show Goods Outwards, Show Closing balance. The Stock Summary with column details would be shown]
Capture Screenshot :
4-3 Stock Summary.
For more details, click following links
04-4 Point of Sales Voucher Type
- Create Point of Sales (PoS) Voucher Type
[Select GoT>Create>Voucher Types to get Voucher Type creation screen.At Name, enter Point of Sales. At Type of Voucher, select Sales. At Abbr , enter PoS. At Method of Numbering field, select Automatic. At Use Advance Configuration, set No. At Use Common Narration, set No. At Narration for each entry, set No. at Print after Saving, set Yes; at Use for PoS Invoicing, set Yes. At Print Message 1 & Print Message 2 , enter the messages texts to be printed at the bottom of Invoice. At Default Print Title, enter ‘Cash Sales Memo’. At Declaration, enter the text that would be printed at the end of the Invoice. Press Ctrl+A to save the PoS Voucher Type]
Capture Screenshot :
4-4 PoS Voucher Type creation.
For more details, click following links
4-5 Create PoS Sales Voucher EntryOn 1-5-2023, 5 kg of wheat sold @ 19 /kg in Cash
[Select GoT>Vouchers. Click F8:Sales and then select Point of Sales from list of Sales Voucher Types to get PoS Voucher entry screen. Enter 1-5-2022 at Voucher Date. Click F12:Configure. At PoS Configuration screen, set No at Skip the Quantity field during entry. Back at Voucher entry screen, at Party A/c Ledger, select Not Applicable; at Sales Ledger, select Sales; at Name of Item, select Wheat; at Quantity, enter 5. The UoM Kg is displayed. At Rate, enter 19. At Amount, 95 is displayed. At next line, at Name of Item, press <enter> to terminate Sock Item entry. At the bottom line, at Cash, select Cash Account. At Amount Tendered, enter 100. At Balance, 5 is displayed.
Capture Screenshot :
4-5 PoS Voucher Type creation.
For more details, click following links
5 Zip data Folder and email
Create a zip filename- Basic Invoicing Inventory, of the original data Folder at C:\tpdata. E-mail to dvidyamail@gmail.com, attaching the zip file.
For Practical Assignments in Tally, visit https://dvidya.com/practical-assignments/
