Sales Returns Before Receiving Payment in TallyPrime: 5 Steps

1. Understanding Sales Returns in TallyPrime

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

In TallyPrime, you can record sales returns even before receiving payment for the original sale.

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

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

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:

• The credit note will reverse the original sales transaction, reducing the customer’s outstanding balance.
• If the customer has already made a partial payment, the credit note will be adjusted against the remaining balance.
• You can record sales returns even before receiving full payment for the original sale.

5. Benefits of Recording Sales Returns Before Payment in TallyPrime:

• Accurate Accounting: Ensures that your accounts reflect the correct balances, even if returns occur before payment.
• Improved Cash Flow: Helps you manage your cash flow effectively by tracking returns and adjustments.
• Customer Service: Provides a clear record of returns for customer service purposes.

By following these steps, you can accurately record sales returns before receiving payment in TallyPrime, ensuring that your financial records are up-to-date and reflecting the true status of your sales transactions.