Generally, we record purchase and sales voucher when items bought and sold. At the time of voucher entering, we specify the rates and discount of item and discount also if it has. Every time we repeat this, when purchase and sales transaction takes place.
In Tally ERP 9, standard rates feature allows user to predefined the rates of stock item . User can specify stock item rates from applicable period also. Standard rates feature available in F12 configuration at stock items creation.
If user specify the standard rates for item, then tally automatically fills the data at the time of purchase / sales voucher entering.
How to setup standard rates for a stock Item?
Let’s take example:
STANDARD COST FOR ITEM : SANTOOR
Applicable from | Rate | Per |
---|---|---|
01-04-2020 | 30 | pcs |
01-06-2020 | 32 | pcs |
01-07-2020 | 34 | pcs |
01-08-2020 | 36 | pcs |
01-09-2020 | 38 | pcs |
01-10-2020 | 40 | pcs |
SOLUTION:
- Gateway of Tally > Inventory Info > Stock Items > Create
- Press F12 Configuration >
Enable Standard Rates for Stock Items : YES - Name : Santoor
- Under : Soaps
- Units : Pcs
- Set Standard Rates ? YES
- Now enter the Standard Cost for santoor (applicable from and Rate as given in above table)
- Press Enter > Accept – Yes
How to enter Purchase Invoice with Standard Rates ?
Lets take one example:
1. Purchase the following items with ref no : pur / ss / 100 from SS Generals and stored at Rajam Godown. on dated: 02/04/2020.
Santoor 100pcs and discount is at 1%
solution
- Gateway of Tally > Accounting Vouchers > Press F9 for Purchase
- Press F2 to change Date
- Press ALT + I For Item Invoice
- Press F12 > Configuration >
Use common ledger a/c for item allocation : Yes - To activate discount column on invoice:
Press F11 > Company features >
Press F2 for Inventory features >
Use separate discount column on invoices : Yes - Press Enter _Accept the company features screen.
- supplier invoice no: pur / ss/ 100
- Party’s A/c Name : ALT + C
Name : SS Genarals
Under : Sundry Creditors
Maintain Balances Bill By Bill : Yes
Accept_yes - Purchase Ledger :
Name : Purchase A/c
Under : Purchase Accounts
Inventory values are affected : Yes
Press ENTER _Accept – yes - Name of Item :
select SANTOOR from the list - Godown:
Alt + C – Rajam - Quantity:
100 > Press Enter - Rate: Autoamtically fills
- Disc % : 1
- Amount : 2,970
- Press enter
- Accept_Yes
How to set up standard selling price for a stock item?
Lets take an example:
Standard Selling price for stock item : SANTOOR
Applicable from | Rate | Per |
---|---|---|
01-04-2020 | 32.00 | Pcs |
01-06-2020 | 34.00 | Pcs |
01-07-2020 | 36.00 | Pcs |
01-08-2020 | 38.00 | Pcs |
01-09-2020 | 40.00 | pcs |
01-10-2020 | 42.00 | pcs |
solution:
- Gateway of Tally > Inventory Info > stock items > Alter > Select SANTOOR > Press enter
- Alter Standard Rates : Yes
- Now enter standard selling prices as given in table.
How to enter Sales Invoice with Standard Rates ?
Lets take an example:
company raised a sales invoice on TSS generals with ref no: sal/tss/400 for Santoor – 100 pcs. and discount at 1% . Dated: 01/07/2020.
Solution
- Gateway of Tally > Accounting Vouchers > Press F8 for Sales
- press ALT + I for Item Invoice
- Press F2 to change date : 01-07-2020
- Reference no: Sale/Tss/400
- Party’s A/c Name : ALT + C
TSS Generals > Under Sundry debtors
Maintain balances bill by bill: Yes > Accept_Yes - Sales Ledger :
Name : Sales A/c
Under : Sales Accounts
Inventory values are affected : Yes
Press enter _ Accept – yes - Name of Item :
Santoor - Godown :
Rajam - Quantity :
100 Pcs - Rate :
Automatically fills - Disc%:
1% - Amount:
3,564.00 - Press Enter
Accept_yes