Accounting for Increased Sale Value in TallyPrime: 5 Easy Steps

1. Understanding Increased Sale Value in TallyPrime

When the selling price of a product or service is increased, it directly impacts your revenue.

In TallyPrime, you can account for this increase by adjusting the rate or quantity of the item in your sales transactions.

2. Steps to Account for Increased Sale Value in TallyPrime:

1. Create a Sales Invoice:

Go to Gateway of Tally > Vouchers > Press F8 (Sales).

2. Enter Party Details:

Enter the customer’s account name.

3. Add Product or Service:

Add the product or service being sold.

4. Adjust Quantity or Rate:

• If the increase in sale value is due to a change in quantity, adjust the quantity field.
• If the increase is due to a change in price, adjust the rate field.

5. Save the Invoice:

Press Ctrl+A to save the sales invoice.

3. Example to Account for Increased Sale Value in TallyPrime:

Let’s say you’re selling a product for Rs. 100 per unit. You decide to increase the selling price to Rs. 120 per unit.

• Original Sale: You sell 10 units at Rs. 100 each.
• Increased Sale: You sell 10 units at Rs. 120 each.

To account for the increased sale value, you would:

1. Create a new sales invoice.
2. Enter the customer’s details.
3. Add the product with a quantity of 10.
4. Set the rate to Rs. 120.
5. Save the invoice.

4. Additional Considerations:

• Pricing Strategies: Consider your pricing strategy and market conditions when adjusting sale values.
• Inventory Valuation: If you’re using inventory valuation methods, ensure that the increased sale value is reflected in your cost of goods sold.
• Reporting: Use TallyPrime’s reporting features to analyze the impact of increased sale values on your revenue and profitability.

By following these steps and considering the additional factors, you can accurately account for increased sale values in TallyPrime and track the impact on your business’s revenue and profitability.