Debit and Credit Note in Tally Prime
Create Debit and Credit Note in Tally Prime, Computer Training Notes with
example. The best tally Notes to explain the creation of Debit Note
( Purchase Return) and Credit Note (Sales returned) in Tally Prime.
What is Debit and Credit Note : A debit note is generally issued in the
event of purchase returns (return outward) whereas a credit note is
issued in the event of sales return (return inward).
Create Ledger: Gateway of Tally > Create > Ledger
Ledger Name Under
Computer Traders Sundry Creditors
Purchase Purchase Accounts
Sudhakar Kumar Sundry Debtors
Sales Sales Accounts
Create Stock Item : Gateway of Tally > Create > Stock Items
Item Name Under Units
Mouse Computer Pcs
Keyboard Computer Pcs
Purchase : Gateway of Tally >Vouchers > Purchase F9
Purchase No. 1 Supplier invoice no : 001
Party A/c Name :Computer Traders (Sundry Creditors)
Purchase ledger : Purchase
Name of Item
Quantity Rate Per Amount
Keyboard 25 Pcs 125
Pcs 3125
Mouse 25 Pcs 110
Pcs 2750
50 Pcs
5875
Purchase Return : Create Debit Note
Few purchase items are found defected and returned to supplier
2 Keyboard and 5 Mouse are defected and to be return back
to (Purchase Return)
We have to Create Credit Note of Returned items.
Steps to Create Debit Note in Tally Prime
GOT->Display more reports->Account Book -> Purchase Register -
>Voucher Register
Look for Purchase voucher of party, whom the material is being returned.
In this case Computer Traders is Supplier.
Select the Computer Traders
Create Duplicate Voucher in Tally Prime
Press Alt + 2 (To create duplicate voucher)
Accounting voucher creation (Duplication)
F10: Other Vouchers > Debit Note (Alt+F5)
Accounting Voucher Creation (Duplication)
Debit Note No. 1
Party A/c Name :Computer Traders
Ledger Account : Purchase
Name of
Item Quantity Rate Per Amoun
t
Keyboard 2 Pcs 125
Pcs 250 Mouse 5 Pcs
110 Pcs 550
Make Change in Voucher for only Quantity column ( returned quantity in
place of original purchase quantity)
Check the Debit Notes
Gateway of Tally> Display more reports> Accounts Book > Debit Note
Register
Further, we can check Outstanding Payable
Gateway of Tally > Display more reports > Statement of Accounts >
Outstanding > Payable
Sales :Gateway of Tally > Vouchers > Sales F8
Sales No. 1
Party A/c Name :Sudhakar Kumar ( Sundry Debtors )
Sales ledger : Sales
Name of
Item Quantity Rate Per Amoun
t
Keyboard 10 Pcs 160
Pcs 1600
Sales Return : 2 keyboard are defected and party returned back (Sales
Return)
Sales Return : Create Credit Note
Gateway of Tally>Display more Reports>Account Book >Sales Register
>Voucher Register
Look for Sudhakar Kumar Sales voucher (for Sales return)
Create Duplicate Voucher
Press Alt + 2 (To create duplicate voucher)
Accounting voucher creation (Duplication)
F10: Other Vouchers > Credit Note (Alt+F6)
Accounting voucher creation (Duplication)
Credit Note No. 1
Party A/c Name : Sudhakar Kumar
Sales Ledger : Sales
Name of
Item Quantity Rate Per Amoun
t
Keyboard 2 Pcs 160
Pcs 320 2
Pcs 320
Change Quantity received back from party (Other information remain
same)
Check the Credit Notes
Gateway of Tally> Display more reports> Accounts Book > Credit Note
Register
Further, we can check Outstanding Receivable
Gateway of Tally > Display more reports > Statement of Accounts >
Outstanding > Receivable
Tally Prime Notes : Topic Wise
Interest Calculation in Tally Prime Step by
Step Notes
Interest Calculation in Tally Prime Notes, Step by Step guide for self study.
Interest is a legitimate return on money invested and chargeable in the
business world on loans and also on delayed payments. Interest can be
calculated on the basis of Simple or Compound Interest. Today, we will
learn, activate interest calculation in Company and Sundry Debater
Ledger. Further, check the interest amount at a particular date.
Activate Interest Calculation in Company
F11 : Company Features
Show More Features : Yes
Show all features : Yes
Accounting :
Activate interest calculation (Yes)
Activate Interest Calculation in Sundry Debtor Ledger
Create Ledger Ledger Name : ABC Pvt Ltd
Under : Sundry Debtors
Maintain bill by bill : Yes
Default Credit Period : 40 days
Check for credit day during voucher entry : Yes
Activate Interest calculation : Yes
New Window : Interest Parameters
Press F 12: Configuration
Use Advance Interest Parameters : Yes
Calculate Interest Transaction by Transaction: Yes
Rate 15 % per 365 days on Debit balance Only
Applicability : Past Due Date by 0 Days from Due Date of Invoice
Purchase Entry : Voucher > Purchase (F9)
Party Name : Computer Traders
Item : Mouse, Quantity : 20 Pcs, Rate : 150, Amount 3000
Sales Entry : Voucher> Sales (F8)
Sales Entry
Reference no.: 001
Party A/c name ledger: ABC Pvt Ltd
Sales ledger: Sales ( Create by pressing Alt+C, if not available)
Name of Item Quantity Rate Amount
Mouse 12 Pcs 160 1920
Name of Item Quantity Rate Amount
Total 12 Pcs 1920
How to Check Interest Receivable
Display > Statement of Accounts > Interest Calculations >
Interest Receivable
Change Period to find the Interest on a Specific date :
F2 : Period Change Period : From : 1-4-2021 To : 1-3-
2022
Opening Amt Pending Amt Interest
1920 1920 231.98 Dr
12-May-2021 1-Mar-2022 294 Days 15% 231.98 Dr
Thanks for visit and study the Interest Calculation in Tally Prime Step by
Step Notes
Multiple Currency in Tally Prime
Create, use maintain multiple currency and set rate of Exchange in Tally
Prime. Step by step notes with example and practice assignment.
Multiple Currencies : Many Organizations have transactions in
more than one currency. Such transactions have to be recorded either
in the base (home) currency or in the foreign currency. If the transactions
are recorded in home currency, the rate at which the foreign currency is
exchanged should be recorded as well.
Create Currency in Tally Prime
Gateway of Tally > Currency > Create
Symbol Formal Name
$ Dollar
Word representing number after decimal Cent
Set Rate of Exchange in Tally Prime
Set Dollar Rate : Create > Rate of Exchange
Standard Selling Buying
Date Specified Rate Date Specified Rate Date Specified Rate
1-Apr-21 ₹75/$ 1-Apr-21 ₹80/$ 1-Apr-21 ₹73/$
Create Ledger : Gateway of Tally > Create > Ledger
Ledger Name Under
Suresh Rawat Sundry Creditors
Purchase Purchase Accounts
Haider Enterprise Sundry Debtors
Sales Sales Account
Create Stock Group : Gateway of Tally > Create > Stock Group
Group Under
Food Primary
Create Item : Gateway of Tally > Create > Stock Item
Item Under Units
Pizza Food Pcs
Chips Food Pkt
Purchase Entry Gateway of Tally > Voucher > F9
Supplier invoice no.: 001
Party A/c name ledger: Suresh Rawat
Purchase ledger: Purchase
Name of Item Quantity Rate Amount
Pizza 10 Pcs $2.00 Pcs $20.00
Chips 10 Pkt $1.00 Pkt $10.00
$30.00 @ ₹ 73/$ = ₹ 2190.00
Sales Entry : Gateway of Tally > Voucher > F8
Reference no.: 001
Party A/c name ledger: Haider Enterprise
Sales ledger: Sales
Name of Item Quantity Rate Amount
Pizza 5 Pcs $3.00 Pcs $15.00
Chips 5 Pkt $2.00 Pkt $10.00
$25.00 @ ₹ 80/$ = ₹ 2000.00
