Sales Against Advance Receipts in TallyPrime: 5 Steps + Example

1. Understanding Advance Receipts in TallyPrime

Advance receipts are payments received from customers before the delivery of goods or services.

When you record a sale against an advance receipt, you’re essentially adjusting the customer’s account balance to reflect the sale and the remaining balance.

2. Steps to Record Sales Against Advance Receipts in TallyPrime:

1. Create a Sales Invoice:

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

2. Enter Party Details:

Select the customer’s account.

3. Select Bill-wise Details:

• Choose “Select Bill”.
• Select the “Receipt” bill type.
• Choose the specific receipt voucher representing the advance payment.

4. Enter Details:

Enter the quantity, rate, and other relevant details for the sale.

5. Save the Invoice:

Press Ctrl+A to save the sales invoice.

3. Example of Sales Against Advance Receipts in TallyPrime:

Let’s say you received an advance payment of Rs. 5,000 from “Customer A” and now you’re delivering goods worth Rs. 3,000 to them.

1. Create a Sales Invoice:

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

2. Enter Party Details:

Select “Customer A”.

3. Select Bill-wise Details:

• Choose “Select Bill”.
• Select the “Receipt” voucher representing the advance payment.

4. Enter Details:

Enter the quantity and rate of the goods.

5. Save the Invoice:

Press Ctrl+A to save the sales invoice.

4. Key Points:

• The advance receipt will be adjusted against the sales invoice, reducing the customer’s outstanding balance.
• If the sales amount is less than the advance payment, the remaining balance will be reflected as a credit in the customer’s account.
• If the sales amount is more than the advance payment, the customer will need to make a subsequent payment to settle the remaining balance.

By following these steps, you can accurately record sales against advance receipts in TallyPrime, ensuring that your customer accounts and financial records are up-to-date.