How to record purchase of goods and services in Tally Prime ?

The key to open Purchase voucher is F9. If the company makes purchases, the transactions related to them should be recorded in this voucher. The purchase made by the company may be for borrow or cash. Also, the purchase made by the company may be in the form of goods or services.

We can enter purchase in three modes.

  • Item Invoice:
    When our company made purchases of items, then the transaction should be record in this mode
  • Accounts Invoice :
    When our company made purchases of services, then the transaction should be record in this mode
  • As Voucher :
    We have to know the debit and credit Accountancy rules to enter the purchase transactions in this mode. We can enter both items and services in this mode.

ASSIGNMENT – 1
(Purchase Voucher with Item Invoice)

Company Purchased the following items with ref no: pur/abc/300 from ABC Technologies and stored at Rajam godown (Dated : 01/07/2021) (Credit days :30 days)

S.NOITEM NAMEQUANTITYRATE
1Keyboards10pcs₹400
2Laptops02pcs₹30,000
3Mobiles15pcs₹5,000
4Tabs10pcs₹6,000
5Mouse20pcs₹500
6Monitors05pcs₹2,500

SOLUTION

Setting up Features :

  • Press F11 for company features
  • Show more features : Yes
    Show all features : Yes
  • Accounting :
    Maintain Accounts : Yes
    Enable Bill wise entry : Yes
  • Inventory :
    Maintain Inventory : Yes
  • Press Enter > Accept_ Yes

Creation of Godown

  • Gateway of Tally
    • Masters
      • Create
        • Inventory Masters
          • Godowns
            • Create New
            • Name : Rajam
            • Under : Primary
            • press enter > Accept – Yes

Activating the Purchase Voucher (Item Invoice)

  • Gateway of Tally
    • Masters
      • Alter
        • Voucher Type
          • Select “Purchase” voucher from the list, Press enter
          • Activate this voucher type > Yes
          • Press Enter > Accept _ Yes

PURCHASE VOUCHER ENTRY (ITEM INVOICE)

  • Gateway of Tally
    • Transactions
      • Vouchers
        • Press F9 for purchase voucher
  • Press CTRL + H to change voucher mode
    • Select “Item Invoice” –> Press enter
  • Press F12 for Configuration
  • General Details:
    Set Common Ledger Account for Item Allocation : Yes
    Use Defaults for Bill-Allocations for : No
    press enter
  • Press ALT + F2 for change period
    From : 01-04-2021
    To : 31-03-2022
  • Press F2 to change date
    01-07-2021
  • Supplier Invoice no : pur – abc – 100
  • Party’s A/c Name :
    Select “Create “option , Press enter (or) press ALT + C for ledger creation
    Name : ABC Technologies
    Under : Sundry creditors <Select the group from the list >
    Maintain Balances bill by Bill : Yes
    <skip the remaining fields >
    <enter the mailing details such as address, bank details, tax details etc.. if requires>
    Press enter –> Accept_Yes
  • Receipt details:
    <skip these details><Press enter >
  • Party details :
    Enter the party details if necessary
  • Purchase Ledger :
    <select “create” option , press enter > (or) Press ALT + C
    Name : Purchase A/c
    Under : Purchase Accounts
    Inventory Values are affected : Yes
    <Skip the remaining details >
    Press enter > Accept _ Yes
  • Name of Item :
    <Select Creation option or press ALT + C>
    Name : Keyboards
    Under : <create > Electronics
    Units : <create> Pcs
    press enter > Accept_yes
  • Godown :
    Select the Godown from the list “Rajam “
  • Quantity :
    10pcs
  • Rate :
    400
  • press enter
  • Create and enter the remaining items same as above
  • Total Purchase Value : 2,21,500
  • press enter
  • Type of Ref :
    Select “NEW REF “, Press enter
  • Name :
    pur / abc / 100
  • Due Date :
    30 days
  • Amount :
  • ₹2,21,500.00
  • Press enter > Accept _ Yes

ASSIGNMENT – 2
(Purchase voucher with Accounts invoice)

Company received a bill for the following services on 02-07-2021 from AMR VISIONS with supplier invoice number : AMR/400

  • Digital Advertisement Service – ₹ 30,000
  • Offline Advertisement Service – ₹ 10,000

SOLUTION

  • Gateway of Tally
    • Transactions
      • Vouchers
        • Press F9 for purchase voucher
  • Press CTRL + H for change voucher mode > select “Accounting Invoice” > Press enter
  • Press F2 to change date : 02-07-2021
  • Supplier invoice no :
    AMR – 400
  • Party’s A/c Name :
    <select “Create” option > press enter
    Name : AMR VISION
    Under : Sundry Creditors
    Maintain Balances bill by bill : Yes
    <Skip the remaining fields>
    Press enter > Accept_ Yes
  • Receipt details :
    <skip the details >
  • Party details :
    <Enter the party details such as address, country etc. if requires>
  • Particulars :
    <select “Create” option press enter >
    Name : Digital Advertisement
    Under : Indirect Expenses
    <skip the remaining details>
    Press enter > Accept _ Yes
  • Amount :
    30,000
    Press enter
  • Create another ledger with name “Offline Advertisement” under indirect expenses
  • enter the amount : 10,000
    press enter
  • Type of ref :
    New ref
  • Name :
    AMR – 400
  • Amount :
    40,000
  • Press enter _ Accept – yes

REPORTS

  • Gateway of Tally –> Stock summary
  • Gateway of Tally –> Display more reports –> Account Books –> Purchase Register
    Press enter for view transcations
    press ALT + F1 for detailed report

SEE MORE :

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