Revising Price Lists in TallyPrime: 4 Easy Steps + Example

1. Understanding the Need for Revision of Price Lists in TallyPrime

As business needs evolve, price lists may need to be revised to reflect changes in pricing, product offerings, or customer segments.

TallyPrime provides a flexible mechanism to revise price lists.

2. Steps to Revise a Price List in TallyPrime:

1. Go to Price List Master:

Navigate to Gateway of Tally > Masters > Inventory Masters > Price Lists.

2. Select the Price List:

Choose the price list you want to revise.

3. Edit Item Prices:

• For each item in the price list, modify the price as needed.
• You can either increase or decrease the price.

4. Save Changes:

Press Ctrl+A to save the revised price list.

3. Example of Revising Price Lists in TallyPrime:

Suppose you have a price list named “Retail” with the following prices:

Product	Current Price	Revised Price
Product A	Rs. 100	Rs. 120
Product B	Rs. 50	Rs. 60

To revise the prices:

1. Go to the “Retail” price list.
2. Modify the prices for “Product A” and “Product B” to Rs. 120 and Rs. 60, respectively.
3. Save the changes.

4. Key Points to Remember:

1. Effective Date:

You can set an effective date for the revised price list.

This ensures that the new prices are applied only after the specified date.

2. Impact on Existing Invoices:

If you have pending sales orders or invoices, the revised price list will not affect them.

The original prices will be applied.

3. New Sales Transactions:

Any new sales transactions created after the price list revision will use the updated prices.

5. Benefits of Revising Price Lists in TallyPrime:

• Flexibility: Adapt to changing market conditions and customer demands.
• Profitability: Optimize pricing strategies to improve profitability.
• Customer Segmentation: Implement different pricing strategies for different customer segments.
• Accurate Invoicing: Ensure accurate billing and avoid pricing errors.

By effectively revising price lists in TallyPrime, you can maintain accurate pricing, improve your business operations, and enhance your overall profitability.