Party Ledgers with Predefined Price Levels in TallyPrime: 3 Steps

1. Understanding Price Levels in Party Ledgers in TallyPrime

In TallyPrime, you can assign specific price lists to individual party ledgers.

This allows you to offer different prices to different customers, based on their relationship with your business.

2. Steps to Select a Party Ledger with a Predefined Price List in TallyPrime:

1. Create a Price List:

• Go to Gateway of Tally > Masters > Inventory Masters > Price Lists.
• Create a price list and assign specific prices to products.

2. Create a Party Ledger:

• Go to Gateway of Tally > Masters > Ledgers.
• Create a new ledger for the customer.
• In the “Price List” field, select the appropriate price list from the dropdown.

3. Create a Sales Invoice:

• Go to Gateway of Tally > Vouchers > Press F8 (Sales).
• Select the customer ledger.
• Add the products to the invoice.
• The system will automatically populate the prices based on the assigned price list.

3. Example of Party Ledgers with Predefined Price Levels in TallyPrime:

Let’s say you have two price lists: “Retail” and “Wholesale”.

You assign the “Retail” price list to “Customer A” and the “Wholesale” price list to “Customer B”.

• Retail Price List:
  • Product A: Rs. 100
  • Product B: Rs. 50
• Wholesale Price List:
  • Product A: Rs. 80
  • Product B: Rs. 40

When you create a sales invoice for:

• Customer A: The system will automatically populate the prices for products A and B as Rs. 100 and Rs. 50, respectively.
• Customer B: The system will automatically populate the prices for products A and B as Rs. 80 and Rs. 40, respectively.

4. Benefits of Using Predefined Price Levels Party Ledgers in TallyPrime:

• Efficient Pricing: Streamlines the pricing process by automatically applying the correct prices.
• Accurate Invoicing: Reduces the risk of pricing errors.
• Customer-Specific Pricing: Allows you to offer customized pricing to different customers.
• Improved Profitability: Helps you optimize your pricing strategy.

By effectively using price lists in TallyPrime, you can improve the efficiency of your sales process, enhance customer relationships, and boost your overall profitability.