What is DEBIT NOTE ?
This voucher is open is the ALT + F5 key is pressed. If the company returns the purchase commodity for any reason (Ex: Damages, inferior quality etc,,), it should be recorded in this voucher. Transactions related to purchase returns come into this voucher. It can also record interest calculations.
What is CREDIT NOTE ?
ALT + F6 is the key to open the CREDIT NOTE voucher. If the company has returns of the goods sold for any reason (Ex: Damages, inferior quality etc..), it should be recorded in this voucher. Transactions related to sales returns come into this voucher. Moreover, interest calculations can also be recorded in this voucher.
ASSIGNMENT
- Company purchased the following items with ref no: RK/400 from Rama Krishna Industries on 01-08-2021
S.NO | ITEM NAME | QUANTITY | RATE |
---|---|---|---|
1 | Redmi Note 8 Pro | 20 Pcs | 20,000 |
2 | Redmi Note 10 Pro | 10pcs | 15,000 |
3 | Samsung Galaxy | 05pcs | 16,000 |
4 | Moto G8 plus | 03pcs | 12,000 |
- Company send a debit note to Rama Krishna Industries against ref no: RK/400 due to damages on 02-08-2021.
S.NO | ITEM NAME | QUANTITY | RATE |
---|---|---|---|
1 | Redmi Note 8 Pro | 03 | 20,000 |
2 | Redmi Note 10 Pro | 02 | 15,000 |
3 | Samsung Galaxy | 01 | 16,000 |
4 | Moto G8 Plus | 01 | 12,000 |
- Company paid the total pending amount to Ramakrishna Industries against ref no: RK/400 in cheque of canara bank on 02-08-2021
SOLUTION
ACTIVATING 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
Integrate Accounts with Inventory : Yes - Press CTRL + A to accept the total screen
ACTIVATING PURCHASE , DEBIT NOTE & PAYMENT VOUCHERS:
- Gateway of Tally
- Masters
- Alter
- Accounting Masters
- Voucher Type
- Select “Purchase” voucher from list
- Press enter
- Select “Purchase” voucher from list
- Voucher Type
- Accounting Masters
- Alter
- Masters
- Activate this voucher type : Yes
- Press enter : CTRL + A to accept the total screen
Similarly, activate the same option (Activate this voucher type : Yes) to Debit note and Payment vouchers also
Recording PURCHASE voucher
- Gateway of Tally
- Transactions
- Vouchers
- Transactions
- Press F9 for purchase voucher
- Press CTRL + H to change the voucher mode
- Select “Item Invoice” from the list
- Supplier Invoice no: <Enter the invoice number> RK / 400
- Party’s A/c Name : <create >
Name : Rama Krishna Industries
Under : Sundry Creditors
Maintain Balances Bill-By-Bill : Yes
Press CTRL + A to accept the ledger creation screen - Purchase Ledger :
<create>
Name : Purchase A/c
Under : Purchase Accounts
Inventory Values Are Affected : Yes
Press enter
Accept_ Yes - Name of Item :
<create>
Name : Redmi note 8 Pro
Under : Electronics
Units : PCS
Accept_ Yes - Quantity:
20Pcs - Rate:
20,000 - Press Enter
- Similarly, Create the remaining items and enter the quantity and rate
- Press Enter
- Enter the billwisedetails:
Type of Ref :
New ref :
Name :
RK/400
Amount :
6,66,000 - Press enter > Accept _ Yes

RECORDING “DEBIT NOTE” VOUCHER
- Gateway of Tally > Transactions >Vouchers >
- Press ALT + F5 for Debit Note Voucher
- Party’s A/c Name : Select “Rama Krishna Industries” from the list
Press Enter - Ledger Account : Purchase A/c
- Now enter the items and Quantity
- Press enter
- Total Debit Note Value : 1,18,000
- Press Enter
- Type of Ref: Agst Ref
- Name : RK/400
- Amount : 1,18,000
- Press Enter
- Accept_ Yes



REPORTS
- Gateway of Tally > Reports > Stock Summary
- ALT + G for Go To > Bills Payable>
Pending Amount of Rama Krishna Industries Rs. 5,48,000/- - ALT + G for Go To > Debit Note Register
RECORDING PAYMENT VOUCHER
- Press F5 for payment voucher
- Account : Canara Bank
- Particulars : Rama Krishna Industries
- Amount: 5,48,000.00
- Press enter
- Type of Ref:
Agst Ref - Name :
RK/400 - Amount:
5,48,000 - Press Enter
- Transaction Type : <select Cheque> from the list
- Press enter > Accept_ Yes
NOTE : You can settle the pending bills through ledger outstanding reports also
- Press ALT + G for Go To > Ledger Outstandings
<select “RAMA KRISHANA INDUSTRIES”> Press enter - Press ALT + B for Bill Settlement
- Voucher Type : Payment
- Voucher Date : 02-08-2021
- Account : Canara Bank
- Narration : Total pending amount of agnst ref : rk/400 cleared by cheque of canara
- Press enter
- Now payment voucher displays
- Accept _ Yes