Category: Beginner

If you are using TallyPrime for GST billing and returns, it’s important to understand how the invoice recorded in TallyPrime appears on the GST Portal. This ensures that the data you upload is accurate and matches what the government expects. TallyPrime follows the prescribed GST Invoice Format, making sure your invoices are fully compliant and…

If your business purchases services from a supplier located in another state, it is treated as an interstate purchase of services. In such cases, IGST (Integrated GST) is applicable. TallyPrime simplifies the process of recording these types of transactions with proper tax treatment. Let’s understand how to record an interstate service purchase step by step…

If your business buys goods from a supplier in a different state, the transaction is known as an interstate purchase. In such cases, IGST (Integrated GST) is applicable instead of CGST and SGST. TallyPrime makes it easy to record interstate purchases and automatically calculates the correct taxes. Let’s understand how to record an interstate purchase…

Purchasing services from a local supplier means both you and the service provider are located in the same state. In this case, CGST and SGST are applicable. TallyPrime allows you to easily record such transactions and ensures that your GST reports are accurate. Let’s break down how to record a local purchase of services step…

Purchasing goods locally means buying from a supplier located in the same state as your business. In such cases, CGST and SGST are applicable instead of IGST. TallyPrime makes it easy to record these transactions accurately for GST compliance. This post will help you understand how to record a local purchase of goods in TallyPrime,…

HSN stands for Harmonized System of Nomenclature. It’s used to classify goods under GST. If you’re selling or purchasing goods, you need to mention the correct HSN code in your invoices. In TallyPrime, you can update HSN codes easily for stock items, stock groups, or even ledgers. Let’s go step by step. 1: Enable GST…

1. Understanding SEZ GST Returns in TallyPrime Special Economic Zones (SEZs) in India have specific GST rules and regulations. SEZ units typically file simplified GST returns, focusing on exports and imports. TallyPrime can help streamline this process. 2. Key GST Returns for SEZ Units in TallyPrime: 1. GSTR-1: 2. GSTR-3B: 3. Using TallyPrime for SEZ…

1. Understanding Purchase Bills Pending in TallyPrime The Purchase Bills Pending report in TallyPrime provides a list of purchase invoices that have not been fully paid. This report is crucial for tracking outstanding payments to suppliers and managing your accounts payable. 2. Accessing the Purchase Bills Pending Report in TallyPrime: 1. Go to Reports: Go…

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…

1. Understanding Loss on Sale of Fixed Assets in TallyPrime When a fixed asset is sold for a price lower than its book value (original cost minus accumulated depreciation), a loss is incurred. This loss needs to be recognized in your financial records. 2. Steps to Record the Loss on Sale of Fixed Assets in…