Category: Advanced

There are two primary methods for recording sales returns under GST in TallyPrime: 1. Using Credit Notes: This is the common method for B2B transactions and intra-state B2C returns within the same GST return period. 1. Create a Credit Note: 2. Set Tax Details: 3. Save and Print: 2. Using Debit Notes (Reverse Sales): This…

Recording sales of mixed supply in TallyPrime requires careful attention due to the combined presence of goods and services, each potentially subject to different tax rates. Here’s a detailed guide to help you handle it effectively: 1. Identify Components: 2. Configure Stock Items (if applicable): 3. Create a Sales Voucher: 4. Enter Basic Information: 5.…

Composite supply refers to supplying two or more goods or services bundled together where separating them isn’t feasible in the ordinary course of business. Recording such transactions in TallyPrime requires specific steps to ensure accurate tax calculations and reporting. Here’s a detailed guide: 1. Identify Principal Supply: Determine the main or dominant element of the…

Recording the sale of works contract services in TallyPrime involves specific steps to ensure accurate tax calculations and reporting. Here’s a detailed guide: 1. Configure Stock Items (if applicable): 2. Create a Sales Voucher: 3. Enter Basic Information: 4. Add Service Item: 5. Set Tax Details: 6. Optional Configuration: 7. Record Advance Payment (if applicable):…

For GST sales involving different “Ship To” and “Bill To” addresses, TallyPrime offers flexible approaches to ensure accurate record-keeping and tax calculations. Here are two scenarios and approaches: Scenario 1: Buyer Pays, Consignee Receives (Common Scenario) 1. Create Sales Voucher: Use F8: Sales voucher type. 2. Enter Basic Information: 3. Add Sale Items: Select relevant…

TallyPrime differentiates between small and large B2C (Business to Consumer) sales for GST reporting purposes. Here’s how to record them: 1. Identify Threshold for Large Invoices: The current threshold for “large” B2C invoice in India is ₹2.5 Lakhs. Any sale exceeding this amount falls under the “Large B2C Invoices” category. 2. Recording Process: Both small…

TallyPrime offers flexible options for configuring voucher numbering for GST transactions. Here’s a breakdown of different approaches and considerations: 1. Automatic Numbering: 2. Manual Numbering: 3. Customized Numbering Series: 4. Configuration Steps: Additional Tips while Configuring Voucher Numbers for GST in TallyPrime: By understanding these options and carefully configuring voucher numbering, you can ensure it…

Recording outward supply and printing invoices in TallyPrime involves capturing the sale, calculating GST, and generating a professional invoice for your customer. Here’s a detailed guide: 1. Create a Sales Voucher: 2. Enter Basic Information: 3. Add Sale Items: 4. Set Tax Details: 5. Configure Printing Options (Optional): 6. Save and Print: Additional Notes to…

Here’s a detailed guide on recording inward supply of goods and services under the reverse charge mechanism (RCM) in TallyPrime: 1. Configuration: a) Stock Items: b) Party Ledgers: 2. Create Purchase Voucher: 3. Enter Basic Information: 4. Add Purchase Details: 5. Activate Reverse Charge: 6. Calculate and Specify GST: 7. Complete the Voucher: Additional Notes…