Home Tally Prime How to Implement/Apply Bill-wise details in Tally Prime

How to Implement/Apply Bill-wise details in Tally Prime

14 min read
0
0
113

How to Implement/Apply Bill-wise details in Tally Prime

Process 1: Create/Alter Customer Ledger with Activation of Bill-wise details

Step: GOT > Create > Ledger

Ø In Ledger Screen Activate Following Option

Maintain Balances bill-by-bill – Yes

Default Credit Period – Type Any Days for Default days as Credit Period like, 30 days

Check for credit days during voucher entry – If you set this option ‘Yes’, Tally will warns you

if the party exceeds the credit period and about pending outstanding.

Ø
Fill all Details Like this following Screenshot

Note: If Maintain Bill by Bill Option not show in ledger screen then press F12 & Enable

‘Maintain Balance Bill-by-Bill’ set to ‘Yes’

Note: Create/Alter all Suppliers/customers ledger as explained above

Ø Practice Exercise for Enable Bill wise details in Party Ledger in Tally Prime, for You

Name

Under

Maintain Balance Bill by

Bill

Default Credit Period

Check for Credit days during

voucher entry

Ritesh traders

Sundry creditor

Yes

25

Yes

Geeta LTD.

Sundry Debtor

Yes

29

Yes

Suresh Varma

Sundry creditor

Yes

24

Yes

Process 2: Pass Purchase/Sales Voucher Entry with Bill-wise details

Step: GOT > Accounting Voucher > F9/F8

Ø
Pass entry as normal way like this following screenshot:

Ø After Inserting Stock Item in Sales/Purchase Voucher Press 4 times ‘Enter’ then there are Four types of Method of Adjustment in ‘Type of Ref’ column for Bill shown like this Following screenshot:

Ø Method of Adjustment for Bills are Four types:

1. Advance: This option is selected when you Receive from customer or Pay to Supplier an advance Amount.

2. Agst Ref: This is used when you are adjusting receipt or Paid amount against a pending bill.

3. New Ref: This option is used when you are creating a new bill, used when entering sales & Purchase voucher.

4. On Account: This option is used when you are not sure, against which bill the payment received or paid. You can use On Account for keeping adjustment as pending, and later you can adjust against correct bill.

Ø Implementation of New Reference in Method of Adjustment in Tally Prime

1. New Reference : Used for New Bill

Ø Make a new Sales (F8) Voucher Entry Like this following Example

· Date – 01/05/2020

· Party A/c Name – Geeta LDT.

· Sales Ledger – Sales Account

· Name of Item –Sony TV

· Quantity – 5

· Rate – 5000

Ø
Like this Following Screenshot

Ø Press Four times Enter after inserting ‘rate’ of Item & fill details like

· Type of Ref – Select “New Ref”

· Name – Type Bill Number as Your Choice like, “DKP1”

· Due Date or Credit days – Auto fill

· Amount- Auto fill

Ø Fill Details like this following Screenshot:

Ø

Ø Press ‘Ctrl+A’ for Save this Screen

· Note: Pass New Purchase Voucher Bill Entry by Following Same Step in Above Example for new Sale Voucher Entry.

Ø Practice Exercise for Make a new Purchase(F9) Voucher Entry Like this following Example

· Date – 02/05/2020

· Party A/c Name – Ritesh traders

· Sales Ledger – Purchase Account

· Name of Item –Sony TV

· Quantity – 5

· Rate – 4000

Ø Press Four times Enter after inserting ‘rate’ of Item & fill details like

· Type of Ref – Select “New Ref”

· Name – Type Bill Number as Your Choice like, “DKP2”

· Due Date or Credit days – Auto fill

· Amount- Auto fill

Ø For Showing Our Outstanding Bills

· Step : GOT > Display more Reports > Statement of Accounts > Outstanding > Ledger > Select your ‘Supplier or Customer’ Ledger For Showing Outstanding >Press ‘F2’ for Change date > Enter

Ø Implementation of ‘Agst Ref’ in Method of Adjustment in Tally Prime

1. Agst Ref : Used for old Bill

Ø Make a new Receipt (F6) Voucher Entry Like this following Example in Single Entry mode

· Date – Type date of receipt Payment From Customer like 01/06/2020

· Account – Select ‘Cash’

· Particulars – Select your Customer like ‘Geeta LTD.’

Ø
After selection of customer ledger press Enter then screen will shown like this

Ø Select’ Agst Ref’ from list of Type of Ref then Pending Bills Show of this Customer

Ø
Select Pending Bills from List like this following screen shot:

Ø Press ‘Ctrl+A’ for save this screen & Final Receipt Voucher Entry Shown Like this Following Screenshot:

Ø Press ‘Ctrl+A’ for Save this Screen

Ø Practice Exercise for Make a new Payment(F5) Voucher Entry Like this following Example

· Date – Type date of Paid Payment to Supplier like, 02/06/2020

· Account – Select ‘Cash’

· Particulars – Select your Supplier like ‘Ritesh traders’

Ø After selection of Supplier ledger press Enter & Select’ Agst Ref’ from list of Type of Ref then Pending Bills Show of this Supplier

Ø Select Pending Bills from List

Ø Press ‘Ctrl+A’ for save this screen

Ø Implementation of ‘Advance’ in Method of Adjustment in Tally Prime

1. Advance : Used for pay or Receive in Advance

Ø Make a new Receipt (F6) Voucher Entry Like this following Example in Single Entry mode

· Date – Type date of receipt Payment as Advance From Customer like 02/06/2020

· Account – Select ‘Cash’

· Particulars – Select your Customer like ‘Geeta LTD.’

Ø After selection of customer ledger press Enter then screen will shown like this

Ø Select’ Advance from list of Type of Ref then fill all details like,

· Name – Type Any Bill Number for Future reference like, ‘DKP5’

· Amount – Type Advance Amount like, “20000”

Ø
After filling Above details Screen Shown like this Following Screenshot

Ø Press ‘Ctrl+A’ for save this screen & Final Receipt Voucher Entry Shown Like this

Following Screenshot:

Ø Press ‘Ctrl+A’ for Save this Screen

Ø Practice Exercise for Make a new Advance Payment(F5) Voucher Entry Like this following Example

· Date – Type date of Paid Advance Payment to Supplier like, 03/06/2020

· Account – Select ‘Cash’

· Particulars – Select your Supplier like ‘Ritesh traders’

Ø After selection of Supplier ledger press Enter & Select’ Advance’ from list of Type of Ref

Ø Fill details like

· Name – type Bill No: ‘DKP8’

· Amount – Type Advance Amount like, 80000

Ø Press ‘Ctrl+A’ for save this screen

Ø Implementation of ‘On Account’ in Method of Adjustment in Tally Prime

1. On Account : Used for Suspense Payment or Receipt

Ø Make a new Receipt (F6) Voucher Entry Like this following Example in Single Entry mode

· Date – Type date of receipt Payment as Suspense From Customer like 02/06/2020

· Account – Select ‘Cash’

· Particulars – Select your Customer like ‘Geeta LTD.’

Ø
After selection of customer ledger press Enter then screen will shown like this

Ø Select ‘On Account’ from list of Type of Ref then fill all details like,

Amount – Type ‘On Account’ Amount like, “10000”

Ø
After filling Above details Screen Shown like this Following Screenshot

Ø Press ‘Ctrl+A’ for save this screen & Final Receipt Voucher Entry Shown Like this Following Screenshot:

Ø Press ‘Ctrl+A’ for Save this Screen

Ø Practice Exercise for Make a new Suspense Payment(F5) Voucher Entry Like this following Example

· Date – Type date of Paid Suspense Payment to Supplier like, 03/06/2020

· Account – Select ‘Cash’

· Particulars – Select your Supplier like ‘Ritesh traders’

Ø After selection of Supplier ledger press Enter & Select ‘On Account’ from list of Type of

Ref

Ø Fill details like

· Amount – Type Amount for On Account like, 5000

Ø Press ‘Ctrl+A’ for save this screen

Interest Calculation in Tally Prime Class-5

Interest: – Interest is a legitimate return on Money invested and chargeable in the business would on loan and also on delayed payment.

Interest can be calculated on the basis of Simple Interest & Compound Interest. Interest is also calculated on outstanding receivables or payables.

· Simple Interest: Simple interest is an interest which calculated on the principal amount only.

Ex: 1.Goods Purchased from Suresh of 44,000 @ 10% by conditions on Simple interest in Monthly basis.

1st month interest – 4400 on 44,000 @ 10%

2nd month interest – 4400 on 44,000 @ 10%

3rd month interest – 4400 on 44,000 @ 10% Total Interest of 3 Months = 13200

· Compound Interest: Compound interest is calculated on the Principle + Accumulated Interest.

Ex- Goods Purchased from Ram Malhotra of 44,000 @ 10% by conditions on Compound interest in monthly basis.

1st month interest – 4400 on 44,000 @ 10%

2nd month interest – 4840 on 48,400 @ 10%

3rd Month Interest – 5324 on 53240 @ 10% Total Interest of 3 Months = 14564

Ø Hope you got an idea on simple interest and compound interest.

Load More Related Articles
Load More By amitgupta
Load More In Tally Prime

Leave a Reply

Check Also

What is Account Master & How to Create Modify and Delete

What is Account Master & How to Create Modify and Delete Administration > Masters &…