FAQ: Frequently Asked Questions

FAQ-01: Sometimes, I allow discount in respect of specific Items only. How do I enter and print discount in invoice against each Item. The net amount of sale or purchase for each item after discount should be posted to respective sales purchase account (there will be no discount ledger account).

To create a separate column of discount in sales / purchase voucher, click F11: Features > Inventory Features and set Yes at Separate Discount Column in Invoices (F-2)

FAQ-02: I trade in Paints & Hardware Items. To get separate accounts figures in respect of sales & purchase for paints & hardware, I like to maintain 2 sales accounts, paints sale & hardware sales. Similarly, I like to maintain paints purchase & hardware purchase accounts. However one sales or purchase bill may contain both paints & hardware item. How do I make entry in the bill so that sales and purchase accounts get properly reflected?

To post the value of sale / purchase of a voucher in multiple sales / purchase ledger accounts, click F12: Configure > Invoice / Order entry.  Set No at Use Common Ledger A/c in Item Allocation (F-1B). Now for every Item in the sale purchase voucher, you may select the respective sales / purchase account.

FAQ – 03 : The company has announced 5% price raise in some of its products. However, the Company still likes to charge at old rates to some specified parties. How to enter the invoices.

One way is to specify negative Discount of 5% (i.e -5%)  in the invoices in which it likes to charge the escalated new rates charging 5% extra. This method mat be used also where the Company wants to charge at extra rates (to include taxes, or other expanse, on specified Items (Discount may be charged on selected Items in the Invoice).