Receipts with Discounts in TallyPrime: 6 Easy Steps + Example

1. Understanding Discounts in TallyPrime

Discounts can be offered to customers for various reasons, such as early payment, bulk purchases, or promotional offers.

In TallyPrime, you can record discounts while receiving payments.

2. Steps to Record Receipts with Discounts in TallyPrime:

1. Go to Receipts Voucher:

Go to Gateway of Tally > Vouchers > Press F5 (Receipt).

2. Enter Party Details:

In the “Party’s A/c Name” field, select the customer’s ledger account.

3. Select Payment Mode:

Choose the appropriate payment mode (e.g., Cash, Bank Deposits).

4. Bill-wise Details:

• Select the “Select Bill” button.
• Choose the “Sales” bill type.
• Select the specific sales invoice you want to receive payment against.
• Enter the amount received.

5. Apply Discount (Optional):

• If a discount is applicable, click the “Discount” button.
• Enter the discount amount or percentage.
• The discounted amount will be calculated automatically.

6. Save the Voucher:

Press Ctrl+A to save the receipt voucher.

3. Example to Record Receipts with Discounts in TallyPrime:

Let’s say you received Rs. 9,500 from “Customer A” against a sales invoice numbered “INV001”, with a discount of 5%.

1. Create a Receipt Voucher:

Go to Gateway of Tally > Vouchers > Press F5 (Receipt).

2. Enter Party Details:

Enter “Customer A” as the party’s account name.

3. Select Payment Mode:

Choose the appropriate payment mode (e.g., Cash or Bank Deposits).

4. Bill-wise Details:

• Select “Select Bill”.
• Choose “Sales” as the bill type.
• Select “INV001” as the invoice number.
• Enter “10,000” as the amount received.

5. Apply Discount:

• Click the “Discount” button.
• Enter “5” in the discount percentage field.
• The discounted amount will be calculated as Rs. 9,500 (10,000 – 5% of 10,000).

6. Save the Voucher:

Press Ctrl+A to save the receipt voucher.

4. Additional Considerations:

1. Discount Types:

TallyPrime allows you to configure different discount types (e.g., percentage, fixed amount).

2. Discount Codes:

You can use discount codes to apply specific discounts to customers.

3. Tax Implications:

Be aware of any tax implications related to discounts.

4. Reporting:

Use TallyPrime’s reports to analyze discounts granted and their impact on revenue.

By following these steps, you can effectively record receipts with discounts in TallyPrime, ensuring accurate accounting and tracking of your sales transactions.