How do you create a price levels / price list in TALLY PRIME?

Price List or Price levels is a part of advanced inventory in Tally Prime. And the Price list is also a part of Sales Management.

Generally, companies sell products to consumers in wholesale, in retail, and exporting too. Sales voucher is the voucher to record sales transactions.

If We sell goods in wholesale, the wholesale rates and discounts will be enter in sales voucher. If it is retail sale, the rates and discounts are vary from wholesale. We should enter rates and discounts depends on customer type (wholesale, retail) in sales voucher. But Price list feature in Tally prime will automatically fills rates and discounts according to price level (wholesale, retail).

We create Price levels for customers (Ex: Wholesale, retail) with this Price list feature. Next, we create a price table with these Price levels.

Then, According to the price level and applicable date specified in the price table, the rates and discounts of items Tally prime automatically fills.

ASSIGNMENT

  1. Create the Price Levels
    • Retail Sale
    • Whole Sale
    • Export Sale
  2. Create a Price List
    • Select the Group Electronics (All Items under Electronics Group displays automatically)
    • Select “Wholesale” as Price Level and Specify the Date : 01-07-2021, in the Applicable From Field
    • Enter the following details for the item RAM 4GB as follows
      • Less than 20no.s – Rs. 2,000/- and no discount
      • From 20no.s and less than 50no.s – Rs. 2,000/- and 6% discount
      • From 50no.s onwards – Rs. 2,000/- and 12% discount
    • Enter the following details for the item MOTHER BOARD as follows
      • Less than 20no.s – Rs. 5,000/- and no discount
      • From 20no.s and less than 50no.s – Rs. 5,000/- and 6% discount
      • From 50no.s onwards – Rs.5,000/- and 12% discount
    • Enter the following details for the item 500GB HARD DISKS as follows
      • Less than 20no.s – Rs. 8,000/- and no discount
      • From 20no.s and less than 50no.s – Rs.8,000/- and 6% discount
      • From 50no.s onwards – Rs. 8,000/- and 12% discount
  3. Company sold the following items with ref no: sal/tech/100 to Tech industries (Price level applicable: wholesale) for the following items on 02-07-2021
NAME OF THE ITEMQUANTITY
RAM 4GB20No.s
MOTHERBOARD25No.s
500GB HARD DISKS32No.s

SOLUTION

SETTING-UP FEATURES :

  • Press F11 for company features
  • Inventory :
    Maintain Inventory : Yes
    Enable Multiple Price levels : Yes
    Use Discount Column in Invoices : Yes
  • Press CTRL +A to accept the total screen

CREATION OF PRICE LEVELS

  • Gateway of Tally
    • Masters
      • Create
        • Inventory Masters
          • Price Levels
  • Company Price Levels:
    1. Retail Sale
    2. Wholesale
    3. Export Sale
  • Press Enter

CREATION OF STOCK ITEMS

  • Gateway of Tally
    • Masters
      • Inventory Masters
        • Stock item
          • Name : RAM 4GB
          • Under : Electronics
          • Units : No.s
          • Accept_ Yes
          • Name : Motherboard
          • Under : Electronics
          • Units : No.s
          • Accept_ yes
          • Name : 500GB HardDisks
          • Under : Electronics
          • Units : No.s
          • Accept _ Yes

CREATION OF PRICELIST(STOCK GROUP)

  • Gateway of tally
    • Masters
      • Create
        • Inventory Masters
          • Price List (Stock Group)
  • Stock Group Name : ELECTRONICS
  • Price Level : Wholesale
  • Applicable from : 1-7-2021
  • Particulars :
    Now enter the price list as given in assignment

SALES VOUCHER WITH PRICE LIST

  • Gateway of Tally
    • Transactions
      • Vouchers
  • Press F8 for sales voucher
  • Press F2 to change date:
    1-7-2021
  • Press CTRL + H and change mode to “ITEM INVOICE”
  • Reference No: sal/tech/100
  • Party’s a/c name :<Create>
    Name : Tech Industries
    Under : Sundry Debtors
    Pricing Level Applicable : Wholesale
    (If this option is not shown, then press F12 configuration and active the feature “Use Price Levels for Party Ledgers”: Yes)
    Maintain Balances Bill By Bill : Yes
    Press CTRL +A to accept
  • Dispatch Details: <enter dispatch details>
  • Party Details: <enter party details>
  • Price Level Applicable : Wholesale
  • Sales Ledger: <Create>
    Name : Sales A/c
    Under : Sales Accounts
    Inventory values are affected: Yes
    Ctrl + A to accept
  • Name of Item :
    RAM 4GB
    Press enter
  • Quantity :
    enter the quantity
  • now notice the rate and discount automatically loads
  • Enter the remaining items same as above.

SEE MORE

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