TallySchool

Author: Rishit Shah

  • Accounting for Decrease in Purchase Value in TallyPrime

    —

    by

    Rishit Shah
    in

    1. Understanding the Accounting for a Decrease in Purchase Value in TallyPrime A decrease in purchase value can occur due to various reasons, such as: 2. Methods to Account for the Decrease in Purchase Value in TallyPrime: Method 1: Creating a Credit Note 1. Create a Credit Note: 2. Enter Party Details: Enter the supplier’s…

  • Accounting for Increase in Purchase Value in TallyPrime: 2 Methods

    —

    by

    Rishit Shah
    in

    1. Understanding the Scenario of Increase in Purchase Value in TallyPrime An increase in purchase value can occur due to various reasons, such as: 2. Methods to Account for the Increase in Purchase Value in TallyPrime: Method 1: Creating a Debit Note 1. Create a Debit Note: 2. Enter Party Details: Enter the supplier’s name.…

  • View Edit Log for Purchases in TallyPrime: 4 Steps + Easy Example

    —

    by

    Rishit Shah
    in

    The Edit Log feature in TallyPrime allows users to track and view changes made to purchase transactions. This ensures transparency and helps in maintaining an audit trail, particularly beneficial for organizations required to comply with audit and compliance regulations. 1. Benefits of Viewing Edit Log for Purchases in TallyPrime 2. How to View Edit Log…

  • Purchase Register in TallyPrime: 4 Steps + Easy Example

    —

    by

    Rishit Shah
    in

    The Purchase Register in TallyPrime is a comprehensive report that provides details about all purchase transactions recorded in the system. This report helps businesses monitor purchases, track payment statuses, and ensure proper compliance with tax regulations. 1. Key Features of Purchase Register in TallyPrime 2. How to View the Purchase Register in TallyPrime 3. Configurations…

  • Purchase Import Invoice Entry in TallyPrime: 5 Steps + Example

    —

    by

    Rishit Shah
    in

    In TallyPrime, recording an Import Purchase Invoice involves specifying purchase details for goods imported from a foreign supplier. This process includes defining currency, applying import duties, and other expenses incurred during the import process. 1. Steps to Record an Import Purchase Invoice in TallyPrime 1. Enable Multi-Currency 2. Create Ledgers for Import Transactions 1. Supplier…

  • Enter Discount % & Amount on Item Rates in TallyPrime: 5 Steps

    —

    by

    Rishit Shah
    in

    In TallyPrime, you can enter a discount percentage or amount on item rates by utilizing a discount ledger account. This method is ideal for businesses that want to track total discount amounts separately in their accounts. Here’s how you can achieve this: 1. Steps to Enter Discount Percentage and Amount Using a Ledger Account in…

  • Use Discount % Without a Ledger in TallyPrime: 5 Steps + Example

    —

    by

    Rishit Shah
    in

    In TallyPrime, you can enter a discount percentage directly against each stock item without creating a separate ledger account for discounts. This approach is simple and suitable for businesses that frequently provide item-specific discounts. 1. Steps to Enter Discount Percentage in TallyPrime 1. Enable the Discount Option 2. Create a Sales Invoice 3. Enter the…

  • Purchases with Trade Discounts in TallyPrime: 5 Steps + Example

    —

    by

    Rishit Shah
    in

    1. Understanding Trade Discounts in TallyPrime: A trade discount is a reduction in the list price of a product or service offered by a seller to a buyer. It’s typically used to incentivize bulk purchases or long-term relationships. 2. Steps to Record a Purchase with a Trade Discount in TallyPrime: 1. Create a Purchase Invoice:…

  • Purchases with Total Item Discount in TallyPrime: 5 Easy Steps

    —

    by

    Rishit Shah
    in

    1. Understanding Total Item Discounts in TallyPrime A total item discount is applied to the entire amount of a purchase, rather than to individual items. This type of discount is often used for bulk purchases or promotional offers. 2. Steps to Record a Purchase with a Total Item Discount in TallyPrime: 1. Create a Purchase…

  • Use Less Paper Space in TallyPrime: 5 Steps + Example

    —

    by

    Rishit Shah
    in

    TallyPrime offers several features to minimize paper usage during printing. Here are some effective techniques: 1. Compact Print Format in TallyPrime: 2. Print Selected Vouchers in TallyPrime: 3. Customize Print Reports in TallyPrime: 4. Electronic Document Management in TallyPrime: 5. Consolidated Reports in TallyPrime: 6. Example of Reducing Paper Space Usage in TallyPrime: Let’s say…