Sales Returns After Receiving Payment in TallyPrime: 5 Easy Steps

1. Understanding Sales Returns in TallyPrime

A sales return occurs when a customer returns goods or services previously purchased.

When a return is recorded after receiving payment, it typically involves issuing a credit note to the customer and adjusting the accounts accordingly.

2. Steps to Record Sales Returns After Payment in TallyPrime:

1. Create a Credit Note:

• Go to Gateway of Tally > Vouchers > Press F8 (Sales).
• Select the “Credit Note” voucher type.

2. Enter Party Details:

Select the customer’s account name.

3. Select Bill-wise Details:

• Choose the “Select Bill” button.
• Select the original sales invoice.

4. Enter Return Details:

Enter the quantity of items returned and the reason for return.

5. Save the Credit Note:

Press Ctrl+A to save the credit note.

3. Example of Recording Sales Returns After Payment in TallyPrime:

Let’s say a customer returns 5 units of a product purchased on invoice number “INV001” after making a full payment.

1. Create a Credit Note:

• Go to Gateway of Tally > Vouchers > Press F8 (Sales).
• Select “Credit Note”.
• Enter the customer’s account name.
• Select “INV001” as the original sales invoice.
• Enter “5” as the quantity returned.

2. Save the Credit Note:

Press Ctrl+A to save the credit note.

4. Key Points to Record Sales Returns After Payment in TallyPrime:

• The credit note will reverse the original sales transaction, reducing the customer’s outstanding balance.
• If the customer has already made a full payment, the credit note will create a credit balance in their account.
• You can issue a refund to the customer or adjust the credit balance against future purchases.

5. Additional Considerations:

• Inventory Adjustments: Ensure that the inventory levels are adjusted to reflect the returned items.
• Accounting Treatment: The accounting treatment for sales returns might vary depending on your business’s accounting policies.
• Customer Satisfaction: Handle sales returns promptly and professionally to maintain customer satisfaction.

By following these steps, you can effectively record sales returns after receiving payment in TallyPrime, ensuring accurate accounting and maintaining a positive customer experience.