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 wholesaleRead More »
WHAT IS SALES ORDER ? If our company received an order from Sundry Debtors to sell goods or services, It should be recorded in this voucher. In the order, how many items have been ordered? Which items got the order ? All things like customer is asking for delivery of items should be specified. CTRLRead More »
WHAT IS PURCHASE ORDER ? If our organization orders parties to buy goods or services, it should be recorded in this voucher. We have to place an order on which items are needed in this purchase order, how much quantity we want, and when to do so. Press CTRL + F9 key to open theRead More »
COMPANY MENU (ALT + K) Company menu contains the following features Create : To create a new company Alter : To alter or delete a company Change : To change the active company Select : To select a company from list of companies Shut : To shut (Close) a company And also company menu contains,Read More »
Cost center classes feature automatically loads cost center and cost category allocations during voucher entry. For example, Let’s say our company has three branch offices. Let’s say one is Rajam branch, the other is srikakulam branch and third is vijayanagaram branch. But let’s say our company makes payments of some amount to branch offices forRead More »
Cost centers and Cost categories are a part of advanced accounts. Let’s consider some examples to understand this feature. Salaries paid in cash to Raju of Stores department of Rajam branch – Rs. 10,000/- The company is paying the salary to Raju in this transaction. Raju is the employee of stores department in Rajam branch.Read More »
Sales Voucher will be open if F8 key is pressed. Transactions related to sales are recorded in this voucher. If the company is selling for cash or borrow, should be recorded in this voucher. The sales made by the company may be in the form of goods or service. In all, transactions related to companyRead More »
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 enterRead More »
Inventory means Stock management. Inventory management is a major feature of Tally Prime. Transactions related to Inventory should be entered with the following inventory masters. Stock Items Stock Groups Stock Categories Godowns / Locations Units of Measurement What is a Stock Item ? The items which we sell or buy and which are stored inRead More »
What is a CONTRA voucher ? Contra voucher is an accounting voucher. This Contra is used when the amount is deposited in the bank as well as the amount with drawl from the bank. Moreover, this contra is also used when transfer from bank to bank, cash to cash is done. What is Bank toRead More »
The receipt voucher is done in when the company gets the amount. If the money comes through the sundry debtors or any income, the transaction will be enter in this voucher. The amount coming to the company can come in any form i.e. cash or bank cheque. F6 is the key to open the receiptRead More »
PAYMENT VOUCHER : This payment voucher is used for the expenses paid by the company and the dues paid to the lenders. The mode the company pays can be anything. This means that it can be paid by cash or by bank cheque. Or it can be an online payment. If the company makes payment,Read More »
INVENTORY VOUCHERS 1. PURCHASE ORDER : If our organization places an order to purchase goods or services, it should be recorded in this voucher. We have to specify the details in the order that how much quantity we needed and what items we needed etc. The key for Purchase order is CTRL + F9 2.Read More »
What is a voucher? Voucher is the input feature to record daily transactions in organization and thereby generate reports automatically. After entering the voucher accounting, inventory and payroll reports will be automatically generate according to the voucher type. But a voucher needs to be recorded, which means that the ledgers for the transactions need toRead More »
By default, two ledgers are in Tally Prime.1. Cash2. Profit and Loss account. Cash ledger is under the Cash -in – hand group. This ledger can be altered and deleted. Profit & Loss account ledger is under the Primary group. This ledger can be altered but not deleted. The profit or loss of the financialRead More »