How to Record Sales & Purchase Entry in Tally
To record sales and purchase entries in Tally, follow these steps:
Recording Purchase Entry:
1. Launch Tally and select the company in which you want to record the purchase entry.
2. Go to “Gateway of Tally” and navigate to “Accounting Vouchers” > “F9: Purchase.”
3. In the purchase voucher screen, enter the purchase invoice details such as the voucher date, supplier’s invoice number, and purchase ledger.
4. Select the party ledger or supplier’s name from the list of ledgers. If the ledger does not exist, you can create a new one by pressing “Alt+C.”
5. Specify the purchase ledger by selecting it from the list or creating a new one if it doesn’t exist. This ledger represents the expense account to which the purchase is attributed.
6. Enter the details of the items purchased, such as their names, quantities, rates, and GST tax rates.
7. Verify the tax calculation and ensure that the input tax credit is appropriately accounted for in the purchase entry.
8. Save the voucher by pressing “Ctrl+A” and exit the purchase voucher screen.
Recording Sales Entry
1. From the “Gateway of Tally,” go to “Accounting Vouchers” > “F8: Sales.”
2. In the sales voucher screen, enter the sales invoice details, including the voucher date, customer’s invoice number, and sales ledger.
3. Select the party ledger or customer’s name from the list of ledgers. Create a new ledger if necessary using “Alt+C.”
4. Specify the sales ledger from the list or create a new one if it doesn’t exist. This ledger represents the income account to which the sales are attributed.
5. Enter the details of the items sold, including their names, quantities, rates, and GST tax rates.
6. Verify the tax calculation and ensure that the appropriate tax ledgers (CGST, SGST, IGST) are applied based on the nature of the sale (interstate or intrastate).
7. Save the voucher by pressing “Ctrl+A” and exit the sales voucher screen.
Sales Entry in Tally Prime with GST
To record a sales entry in Tally Prime with GST, follow these steps:
1. Launch Tally Prime and select the company in which you want to record the sales entry.
2. Go to the “Gateway of Tally” and click on “Accounting Vouchers” on the right-hand side panel.
3. In the accounting vouchers menu, select “F8: Sales” to create a sales voucher.
4. Fill in the sales voucher details such as the voucher date, party’s invoice number, and the sales ledger.
5. Select the party ledger or customer’s name from the list of ledgers. If the ledger doesn’t exist, you can create a new one by pressing “Alt+C.”
6. Specify the sales ledger by selecting it from the list or creating a new one if it doesn’t exist. This ledger represents the income account to which the sales are attributed.
7. Enter the details of the items sold, including their names, quantities, rates, and GST tax rates.
8. Verify the tax calculation and ensure that the appropriate tax ledgers (CGST, SGST, IGST) are applied based on the nature of the sale (interstate or intrastate). Tally Prime automatically calculates the tax amount based on the rates and quantities entered.
9. If required, enter additional charges or discounts applicable to the sales transaction.
10. Review the sales voucher to ensure all details are accurate and complete.
11. Save the voucher by pressing “Ctrl+A” or clicking on the “Accept” button at the bottom-right corner.
Tally Prime will record the sales entry along with the GST details you have provided. It will update the respective ledgers and generate relevant reports based on the sales transactions.
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