Tally Prime Learning

Tally Prime is today amongst the most important softwares an accountant uses to do all his accounting work.

Here, you will learn step by step procedure of passing various accounting entries in different Vouchers of  Tally Prime to generate Trial Balance, Profit & Loss A/c & Balance Sheet in Tally Prime.

Ledger:- It is created to make an accounting entry. Ledger is Debited or Credited in any Accounting Voucher. Without creating ledger we cannot make any entry in Tally Prime. While creating Ledger, Ledger Group is selected to put it under that Ledger Group.

Ledger Group:- We have to select any ledger Group while creating a new Ledger. We can select from default Groups or we can created a new ledger Group.

Accounting Voucher:- In this Ledgers are debited and credited to make accounting entries.

Create a New Company in Tally Prime

  To create a new company in Tally Prime:

Go to  Gateway of Tally, then Press Alt + K, and select "Create". 

It will take you to "Company Creation" window to fill up your company's information as shown below.

Here, fill your company's Name, Full Address, select State & Country. Also fill Company's Contact Details such as Phone No., Email ID, etc.

In the Right Side, fill Financial Year & Books Beginning Year. (Both will be same year)

Press Enter to save this window. Now your company is Created in Tally Prime.

Learn how company is created in Tally Prime by watching this video on our YouTube Channel. (link below)

https://youtu.be/JhB3WSYT1N0

Creating Ledgers, Ledger Group,  Stock Items, Stock Group & Stock Unit in Tally Prime 

First of all, we have to create Ledgers, Ledger Group,  Stock Items, Stock Group & Stock Unit in Tally Prime to start making accounting entries in accounting vouchers. Without creating these we cannot make any entry in tally prime.

To create Ledgers, Ledger Group,  Stock Items, Stock Group & Stock Unit in Tally Prime:

Go to  Gateway of Tally, Under "MASTERS" select "Create" & press Enter

Then below screen appears:

Now, 

To Create Ledgers & Ledger Group:

Go to "Ledger" & "Group" under "Accounting Masters". 

To Create Stock Item, Stock Group & Stock Unit:

Go to "Stock Item", "Stock Group" & "Stock Unit" under "Inventory Masters" to create these three respectively.

Now, fill up the details in Ledger Creation Group Creation, Stock Item Creation, Stock Group Creation and Stock Unit Creation screen by watching the below videos. (Link Below:)

https://youtu.be/MxmlOtF6hQw

https://youtu.be/JhB3WSYT1N0

After filling the required details, save the creation screen by pressing ENTER key (or Alt+A) for each case and these gets created.

Accounting Vouchers In Tally Prime

Below are the types of Accounting Vouchers:

1. Contra (F4): It is used for transactions between to Cash & Bank A/c.

2. Payment (F5): It is used when payment is made to  Party (Sundry Creditors)

3. Receipt (F6): It is used when payment is made to  Party (Sundry Creditors)

4. Journal (F7): It is used to make journal entries. It is used to make entries which we cannot make in any other Accounting Vouchers.

5. Sales (F8): It is used to record sales.

6. Purchases (F9): It is used to record purchases.

7. Credit Note (Alt+F6): It is used to record Sales Return.

8. Debit Note (Alt+F5): It is used to record Purchases Return

 We will learn how accounting entries are done in all the above Accounting Vouchers in detail.

Stock Query in Tally Prime / Tally ERP 9

To know the purchased and sold prices of any stock in Tally Prime or ERP 9 follow the below mentioned instructions.

From Gateway of Tally, go to "Display", then go to "Statements of Inventory", now go to "Stock Query" and select the stock of which you want to know the purchases and sales prices and press enter.

Shorcut key to go to stock query is: From Gateway of Tally, press: D E T 

We will see here only last 5 purchased and sold prices of any stock. If we want to see more than 5 transactions prices. Then,

Press F12 or click on Configure button. 

We will see at the bottom of the list, Number of last transactions to show: 5

Now go to this and change 5 with any number as you want to show and press enter.

For example if we want to show last 10 transactions then we will replace 5 with 10 and press enter. Then we will see last 10 transaction rates.

Now we have learnt that how we can see stock purchased and sold rates in Stock Query in Tally Prime.

View Party's Account Statement / Ledger A/c in Tally Prime

We should know how to view account statement of our sundry debtor or creditor because we have to receive payment from our sundry debtor and make payment to our sundry creditor. In tally we can easily find transactions and balance amount of any ledger and can send it through email or take printout. 

To view the balance of our sundry debtor, sundry creditor or any other ledger then we have to follow below mentioned instructions:

From Gateway of Tally, go to:

Display----->Account Books--------->Ledger

Or we can type: D A L

And select the required ledger from the list.

To Print the Ledger press Ctrl+P or click on Print and take print out

We can also Email this by exporting the ledger in pdf or any other format and attaching this in email. Or we can leave it saved it in our computer in some specific folder.

To Email the Ledger press Ctrl+E or click on Export and then click on Export or press Enter.

Learn how to print & export ledger in Tally Prime in the below video from our Youtube channel. (Link Below:)

https://youtu.be/D6WIba5ORHI

We can also Rename the file or change file format such as PDF, Excel, JPGE, XML, HTML & ASCII. To do this:

Go to Configure after pressing Ctrl+E.

To change file format:- Type "file" in the search bar and Go to File Format  and select any of the file format such as PDF, Excel, JPGE, XML, HTML & ASCII and press enter.

To change file name:- Go to file name and type the required name and press Enter.

Now press Esc key twice and will will come back at Export screen, now we can see that File Name and File Format have been changed. Now click on Export to export it in the Export Folder of Tally Prime.

CONTRA VOUCHER (Short Key: F4)

In Tally Prime we use Contra Voucher to record accounting transactions involving Cash & Bank. It means when we transfer amount from our bank account to another bank account or we deposit cash in our bank account or we withdraw cash from our bank account, we use Contra Voucher to record such accounting transactions.

Here we will learn how to make contra entry in Tally Prime.

Contra Voucher is used when transactions happen between Cash & Bank or when transactions happen between Bank 1 & Bank 2.

Contra Voucher is used in Tally Prime to record below mentioned transactions:

1. When we deposit Cash in our Bank Account

2. When we withdraw Cash from our Bank Account

3. When we transfer some amount from our one Bank Account to our another Bank Account. 

Let's understand how we record transaction in Contra Voucher  with the below example:

If we have Rs. 50,000 in cash and we deposit this amount in our Bank on 1 Dec 2021 then Contra Voucher will be used in this case.

Accounting Entry in this case  will be:

Bank A/c .... Dr     50,000

To Cash A/c                         50,000

To record this in Tally Prime, we will go to Voucher from Gateway of Tally or Press V

and then Press F4 to go to Contra Voucher.

When we open Contra Voucher then either Single Entry mode or Double Entry mode appears by default.

There are two modes of recording transactions in Contra Voucher:

Mode 1: Single Entry

Mode 2: Double Entry

We can record entry in Contra Voucher in any mode, Single Entry mode or Double Entry mode

Its our choice what we choose, Single Entry mode or Double Entry mode. Effect of the accounting transactions will be the same on Balance Sheet if we record our transactions in any mode i.e., Single Entry mode or Double Entry mode

If by default Single Entry mode appears & if we want to make entry in Double Entry mode or vice versa, then press Ctrl + H and select Single Entry mode or Double Entry mode

Mode 1: Single Entry

For above example, if we make this entry in Contra Voucher as Single Entry mode, then entry process will be as follows:

First of all we have to put Date of this transaction. For this, we have to press F2 and put our date which is 1 Dec 2021 in our case.

And then, we have to put our Bank Ledger A/c in "Account:"

If we have not created our Bank Account in Tally Prime, then we have to create a new Bank Ledger. 

Now, let's learn how we can create a new Bank ledger in Tally Prime.

For this we have to Press Alt + C from "Account:"

And then Ledger Creation screen appears like below:

We have to Select Under :Bank Account and fill Bank Account Details such as account number, IFS Code, Branch, etc as shown below:

After filling above details save this screen and Bank Ledger gets created in Tally.

And after that Select this Bank Account and press enter. 

In Particulars we have to select Cash Ledger. Cash Ledger is already present by default in Tally, hence we need not to create Cash ledger.

After selecting Cash ledger here, press Enter. 

Now put the value of amount which is 50,000 in our case.

After putting the amount press ENTER key 3 times and it takes you to Bank Allocations screen.

In Bank Allocations screen press Enter Key and put denominations of Rupee Notes which has been deposited in Bank Account and press Enter key to save this denominations scree and press Enter Key again to exit Bank Allocations screen.

Now it takes us to Narration bar. Here we can type any narration if we want or we can leave it empty and now press enter to Accept: Yes or No

After pressing Enter key this Contra Voucher gets saved and our transactions gets recorded in Tally Prime.

Learn how to make contra entry from video on our youtube channel. (Link below:)

https://youtu.be/wMv76IwoRbE

We can also check the accounting effect of this entry on our Balance Sheet.

To go to Balance sheet, press B from Gateway of Tally

In the balance sheet we have to got to Current Assets in Assets side. In Current Assets we can see that Bank amount gets increased by 50,000 and Cash gets decreased by 50,000.

Mode 2: Double Entry

For above example, let's learn how we can make this entry in Contra Voucher as Double Entry mode:

If by default Single Entry mode appears & if we want to make entry in Double Entry mode, then press Ctrl + H and select Single Entry mode or Double Entry mode

Now, we have to put Date of this transaction. For this, we have to press F2 and put our date which is 1 Dec 2021 in our case.

In "Cr" we have to select Cash Ledger. Cash Ledger is already present by default in Tally, hence we need not to create Cash ledger.

After selecting Cash ledger here, press Enter. 

Now put the value of amount which is 50,000 in Credit side as in our case.

And then, we have to put our Bank Ledger A/c in "Dr". Select Bank account from drop down list.

We have already learnt how we can create a new Bank Ledger (above) if no Bank ledger is shown in this dropdown list.

And after that Select this Bank Account and press enter. Now put amount as 50,000 in Debit side.

After putting the amount press ENTER key and it takes you to Bank Allocations screen.

In Bank Allocations screen press Enter Key and put denominations of Rupee Notes which has been deposited in Bank Account and press Enter key to save this denominations scree and press Enter Key again to exit Bank Allocations screen.

Now it takes us to Narration bar. Here we can type any narration if we want or we can leave it empty and now press enter to Accept: Yes or No

After pressing Enter key this Contra Voucher gets saved and our transactions gets recorded in Tally Prime.

Learn how to make contra entry from video on our youtube channel. (Link below:)

https://youtu.be/wMv76IwoRbE

We can also check the accounting effect of this entry on our Balance Sheet.

To go to Balance sheet, press B from Gateway of Tally

In the balance sheet we have to got to Current Assets in Assets side. In Current Assets we can see that Bank amount gets increased by 50,000 and Cash gets decreased by 50,000.

PAYMENT VOUCHER (Short key: F5)

Here, we will learn about how accounting entries are done in Payment voucher in Tally Prime.

In a business firm, goods are purchased from supplier who is also called Sundry Creditor.

Goods purchased from Sundry Creditor is recorded in Purchases Voucher. After purchasing goods we make payment to our Sundry Creditor which is recorded in Payment voucher in Tally Prime

When we record payment made by us to our supplier or Sundry Creditor, Payment voucher is used in Tally Prime for this purpose.

Let's understand this with the following example:

If we make payment of Rs. 25,000 to our supplier or Sundry Creditor then we will record this accounting transaction in Payment voucher in Tally Prime as mentioned below.

For this first of all we have to go to Voucher from Gateway of Tally or Press V

and then Press F5 to go to Payment Voucher.

When we open Payment Voucher then either Single Entry mode or Double Entry mode appears by default.

 

There are two modes of recording transactions in Payment Voucher:

Mode 1: Single Entry

Mode 2: Double Entry

 

We can record entry in Payment Voucher in any mode, Single Entry mode or Double Entry mode

Its our choice what we choose, Single Entry mode or Double Entry mode. Effect of the accounting transactions will be the same on Balance Sheet if we record our transactions in any mode i.e., Single Entry mode or Double Entry mode.

 

If by default Single Entry mode appears & if we want to make entry in Double Entry mode or vice versa, then press Ctrl + H and select Single Entry mode or Double Entry mode

 

Mode 1: Single Entry

For above example, if we make this entry in Payment Voucher as Single Entry mode, then entry process will be as follows:

First of all we have to put Date of this transaction. For this, we have to press F2 and put our date which is 1 Dec 2021 in our case.

And then, we have to put our Bank Ledger A/c in "Account:"

If we have not created our Bank Account in Tally Prime, then we have to create a new Bank Ledger. 

Now, let's learn how we can create a new Bank ledger in Tally Prime.

For this we have to Press Alt + C from "Account:"

And then Ledger Creation screen appears like below:

We have to Select Under :Bank Account and fill Bank Account Details such as account number, IFS Code, Branch, etc as shown below:

After filling above details save this screen and Bank Ledger gets created in Tally.

And after that Select this Bank Account and press enter. 

 Now,

In Particulars we have to select Sundry Creditor Ledger. If we have not created this Sundry Creditor A/c in Tally then let’s learn how we can create a new Ledger of Sundry Creditor in Tally Prime.

For this, we have to Press Alt+C or go Create in the dropdown list.

Then Ledger Creation scree appears:

Here, fill Name, Select Under: Sundry Creditors, fill billing address of this party, select State, fill contact details, If this party is GST Registered party then select Regular in Registration Type, fill GST no. of this party and press Enter to Save this screen. After that Sundry Creditor ledger gets created in Tally.

 And now, select Sundry Creditor ledger in particulars, press Enter. 

Now put the value of amount which is 25,000 in our case.

After putting the amount press ENTER key and now we will select method of this amount adjustment.

Select Agst Ref (to adjust this amount bill wise) or On account (to adjust this amount on account) or New Ref (to create a new reference no.) or Advance (to take it as advance) here and press Entry key to exit this screen.

Now select Transactions Type and press Enter key then fill Cheque no. in Inst No. and cheque date if we have selected Cheque in Transaction type and press Enter key to exit this screen.

 

Now it takes us to Narration bar. Here we can type any narration if we want or we can leave it empty and now press enter to Accept: Yes or No

After pressing Enter key this Payment Voucher gets saved and our transactions gets recorded in Tally Prime.

Learn how to make Payment entry from video on our youtube channel. (Link below:)

https://youtu.be/a_JwZLK8G38

 

We can also check the accounting effect of this entry on our Balance Sheet.

To go to Balance sheet, press B from Gateway of Tally

In the balance sheet we have to go to Current Liabilities in Liabilities side. In Current Liabilities we can see that Sundry Creditor gets decreased by 25,000 and also go to Current Assets in Assets side, we can see that Bank gets decreased by 25,000.

 

 

 Mode 2: Double Entry

For above example, let's learn how we can make this entry in Payment Voucher as Double Entry mode:

 

If by default Single Entry mode appears & if we want to make entry in Double Entry mode, then press Ctrl + H and select Single Entry mode or Double Entry mode

 

Now, we have to put Date of this transaction. For this, we have to press F2 and put our date which is 1 Dec 2021 in our case.

 

In "Dr" we have to select Sundry Creditor’s Ledger. After selecting Sundry Creditor ledger here, press Enter. 

Now put the value of amount which is 25,000 in Debit side.

 

After putting the amount press ENTER key and now we will select method of this amount adjustment.

Select Agst Ref (to adjust this amount bill wise) or On account (to adjust this amount on account) or New Ref (to create a new reference no.) or Advance (to take it as advance) here and press Entry key to exit this screen.

And then, we have to put our Bank Ledger A/c in "Cr". Select Bank account from the dropdown list.

We have already learnt how we can create a new Bank Ledger (above) if no Bank ledger is shown in this dropdown list.

And after that, Select this Bank Account and press enter. Now put amount as 25,000 in Credit side.

After putting the amount press ENTER key and it takes you to Bank Allocations screen.

Now select Transactions Type and press Enter key then fill Cheque no. in Inst No. and Inst Date if we have selected Cheque in Transaction type and press Enter key to exit this screen.

 

 Now it takes us to Narration bar. Here we can type any narration if we want or we can leave it empty and now press enter to Accept: Yes or No

After pressing Enter key this Payment Voucher gets saved and our transactions gets recorded in Tally Prime.

 

Learn how to make Payment entry from video on our youtube channel. (Link below:)

https://youtu.be/wMv76IwoRbE

 

We can also check the accounting effect of this entry on our Balance Sheet.

To go to Balance sheet, press B from Gateway of Tally

In the balance sheet we have to go to Current Liabilities in Liabilities side. In Current Liabilities we can see that Sundry Creditor gets decreased by 25,000 and also go to Current Assets in Assets side, we can see that Bank gets decreased by 25,000.

 

RECEIPT VOUCHER (Short key: F6)

 

Here, we will learn about how accounting entries are done in Receipt voucher in Tally Prime.

 In a business firm, goods are sold by us to our customer also called Sundry Debtor.

Goods sold to Sundry Debtor is recorded in Sales Voucher. After purchasing goods we receive payment from our Sundry Debtor which is recorded in Receipt voucher in Tally Prime.

 When we record receipts from our customer or Sundry Debtor, Receipt voucher is used in Tally Prime for this purpose.

 

 Let's understand this with the following example:

 If we receive Rs. 30,000 from our customer or Sundry Debtor then we will record this accounting transaction in Receipt voucher in Tally Prime as mentioned below.

 For this, first of all we have to go to Voucher from Gateway of Tally or Press V

and then Press F6 to go to Receipt Voucher.

When we open Receipt Voucher then either Single Entry mode or Double Entry mode appears by default.

 

There are two modes of recording transactions in Receipt Voucher:

Mode 1: Single Entry

Mode 2: Double Entry

 We can record entry in Receipt Voucher in any mode, Single Entry mode or Double Entry mode

Its our choice what we choose, Single Entry mode or Double Entry mode. Effect of the accounting transactions will be the same on Balance Sheet if we record our transactions in any mode i.e., Single Entry mode or Double Entry mode.

 

If by default Single Entry mode appears & if we want to make entry in Double Entry mode or vice versa, then press Ctrl + H and select Single Entry mode or Double Entry mode

 

Mode 1: Single Entry

For above example, if we make this entry in Receipt Voucher as Single Entry mode, then entry process will be as follows:

First of all we have to put Date of this transaction. For this, we have to press F2 and put our date which is 1 Dec 2021 in our case.

And then, we have to put our Bank Ledger A/c in "Account:"

Select a Bank account from the dropdown list.

If we have not created our Bank Account in Tally Prime, then we have to create a new Bank Ledger. 

Now, let's learn how we can create a new Bank ledger in Tally Prime.

For this we have to Press Alt + C from "Account:"

And then Ledger Creation screen appears like below:

We have to Select Under :Bank Account and fill Bank Account Details such as account number, IFS Code, Branch, etc as shown below:

After filling above details save this screen and Bank Ledger gets created in Tally.

And after that select this Bank Account and press enter. 

 Now,

In Particulars we have to select Sundry Debtor Ledger. If we have not created this Sundry Debtor A/c in Tally then let’s learn how we can create a new Ledger of Sundry Debtor in Tally Prime.

For this, we have to Press Alt+C or go Create in the dropdown list.

Then Ledger Creation scree appears:

Here, fill Name, Select Under: Sundry Debtors, fill billing address of this party, select State, fill contact details, If this party is GST Registered party then select Regular in Registration Type, fill GST no. of this party and press Enter to Save this screen. After that Sundry Debtor ledger gets created in Tally.

 And now, select Sundry Debtor ledger in particulars, press Enter. 

Now put the value of amount which is 30,000 in our case.

After putting the amount press ENTER key and now we will select method of this amount adjustment.

Select Agst Ref (to adjust this amount bill wise) or On account (to adjust this amount on account) or New Ref (to create a new reference no.) or Advance (to take it as advance) here and press Entry key to exit this screen.

 Now Bank Allocations screen appears:

 

Here, select Transactions Type and press Enter key then fill Cheque no. in Inst No. and cheque date if we have selected Cheque in Transaction type and press Enter key to exit this screen.

 

Now it takes us to Narration bar. Here we can type any narration if we want or we can leave it empty and now press enter to Accept: Yes or No

After pressing Enter key this Receipt Voucher gets saved and our transactions gets recorded in Tally Prime.

Learn how to make Receipt entry from video on our youtube channel. (Link below:)

https://youtu.be/2nszD5DC5LA

We can also check the accounting effect of this entry on our Balance Sheet.

To go to Balance sheet, press B from Gateway of Tally

In the balance sheet we have to go to Current Assets in Assets side. In Current Assets we can see that Sundry Debtor gets decreased by 30,000 and also, we can see that Bank gets increased by 30,000.

 

 

 Mode 2: Double Entry

For above example, let's learn how we can make this entry in Receipt Voucher as Double Entry mode:

 

If by default Single Entry mode appears & if we want to make entry in Double Entry mode, then press Ctrl + H and select Single Entry mode or Double Entry mode

 

Now, we have to put Date of this transaction. For this, we have to press F2 and put our date which is 1 Dec 2021 in our case.

 

In "Cr" we have to select Sundry Debtor’s Ledger. After selecting Sundry Debtor ledger here, press Enter. 

Now put the value of amount which is 30,000 in Debit side.

 After putting the amount press ENTER key and now we will select method of this amount adjustment.

Select Agst Ref (to adjust this amount bill wise) or On account (to adjust this amount on account) or New Ref (to create a new reference no.) or Advance (to take it as advance) here and press Entry key to exit this screen.

And then, we have to put our Bank Ledger A/c in "Dr". Select a Bank account from the dropdown list.

We have already learnt how we can create a new Bank Ledger (above) if no Bank ledger is shown in this dropdown list.

And after that, Select this Bank Account and press enter. Now put amount as 30,000 in Credit side.

After putting the amount press ENTER key and it takes you to Bank Allocations screen.

Now select Transactions Type and press Enter key then fill Cheque no. in Inst No. and Inst Date if we have selected Cheque in Transaction type and press Enter key to exit this screen.

 

Now it takes us to Narration bar. Here we can type any narration if we want or we can leave it empty and now press enter to Accept: Yes or No

 

After pressing Enter key this Receipt Voucher gets saved and our transactions gets recorded in Tally Prime.

 

Learn how to make Receipt entry from video on our youtube channel. (Link below:)

https://youtu.be/2nszD5DC5LA

We can also check the accounting effect of this entry on our Balance Sheet.

To go to Balance sheet, press B from Gateway of Tally

In the balance sheet we have to go to Current Assets in Assets side. In Current Assets we can see that Sundry Debtor gets decreased by 30,000 and also, we can see that Bank gets increased by 30,000.

 

 GST Invoice in Sales Voucher in Tally Prime (Short Key: F8)

Here we will learn step by step process of making Tax Invoice under GST in Tally Prime.

To record sales and make Tax Invoice we have to go to Sales Voucher in Tally. 

Before learning how to make a GST Invoice we should be familiar with the basics of GST.

Tax Invoices are of two types:

Local Sales or Intrastate Sales 

Interstate Sales

 For Local Sales CGST & SGST is charged in Tax Invoice.

For Interstate Sales IGST is charged in Tax Invoice.

 Let's learn this with blow example:

Suppose we are selling "Item A" 215 pcs at the rate Rs.50 to our customer "CBA P. Ltd." on 5 May 2021.

Follow below mentioned instructions to make Tax Invoice for the above mentioned case in Tally Prime:

 From Gateway of Tally, press V or go to vouchers. Then we have to go to Sales Voucher. To go to Sales Voucher we have to press F8.

Now we will see blank sales voucher as shown below:

 

We have put Invoice date first. For this we have to press F2 and put date and press Enter key.

Here Invoice number comes automatically.

Now in Reference no. we can put any reference no. or we can put our Invoice no. here and press Enter key.

Now we come to Party A/c Name. Here we have to select our Sundry Debtor from this dropdown list.

If we have not created our Sundry Debtor’s ledger in Tally yet, then we can create it by pressing Alt+C or go to Create in the dropdown list.

 Then Ledger Creation scree appears:

Here, fill Name, Select Under: Sundry Debtors, fill billing address of this party, select State, fill contact details, If this party is GST Registered party then select Regular in Registration Type, fill GST no. of this party and press Enter to Save this screen. After that Sundry Debtor ledger gets created in Tally.

 And now, select this Sundry Debtor’s ledger  and press Enter.

Now screen appears to fill dispatch & order details as below:

Here fill the details related to Order & Dispatch of material such as Vehicle no. in which goods are carried, Delivery Note no., Desination, Mode / Terms of payment, etc. These details will be printed in Invoice.

After filing the above mentioned details save this screen.

Tips:- If we have to fill only one or two details and we want to leave other details then we can press Ctrl+A to save and exit this screen. This will save time. For example if we want to fill only Destination then after filling destination press enter and then press Ctrl+A. This will save this screen instantly without going to other details.

 Now it takes us to fill Party Details as shown below:

Here billing address & shipping address is shown by default. Tally automatically shows Consignee Address (Ship to Address) same as the billing address.

If billing address and consignee address is different then we can fill the consignee name and address in Consignee (Ship to) side.

If goods are received the buyer at their billing address, then we need not change Consignee (Ship to) address and press Ctrl+A to save & exit this screen.

Now we have to select Sales ledger from the dropdown list. Without creating sales ledger we cannot make invoice in Tally Prime.

If we have not created required Sales ledger in Tally then follow below mentioned instructions to create a new Sales ledger.

Press Alt+C or go to Create in the dropdown list. Now ledger creation screen appears as show below:

Here, we have to write “Interstate Sales @18%” in Name. Then select Sales Accounts in Under: .

Now we have to select Applicable in “Is GST applicable” and press Enter key twice. We have to select Goods in “Type of Supply” and save this screen. Sales ledger is now created.

Now we have to select Stock Item which is being sold. If we have not created Stock yet then let’s learn how we can create a new Stock Item.

Press Alt+C or go to Create in the dropdown list. Now Stock item creation screen appears as show below:

Here fill Stock Name in “Name” and Enter key and select Primary in “Under” and press Enter key.

Now we have to select Unit of stock. If we have not created Unit of stock yet then let’s learn how we can create a new Unit of stock

Press Alt+C or go to Create in the dropdown list. Now Unit creation screen appears as show below:

Here fill Formal name and select UQC as per our case.

After filling these details save this screen.

Now under Statutory Details, Select Applicable in “GST Applicable”. And now under “Set /Alter GST Details”, select Yes and press Enter key. 

Now, we will see” GST Details for Stock Item” screen. Here fill HSN no. of goods and select Taxability as Taxable and set GST rate of this stock item as shown below:

Now save this screen, select Goods in Type of Supply and press Enter key to accept the screen.

Now our Stock Item is created.

Now we will put Quantity of stock & Rate of stock in respective columns and amount is automatically shown.   

After pressing Enter key we come at next line.

Here we have to select IGST ledger. IGST ledger is selected here as it is Interstate Sales.

If we have not created IGST ledger yet, we have to press Alt+C or go to Create in the dropdown list.

Now we will see Ledger Creation screen as shown below:

Now write “IGST” in the Name. In Under, select “Duties & Taxes” and press Enter key.

Now select “GST” in Type of duty/tax and select “Integrated Tax” in Tax type. Now save this screen as shown below:

After selecting IGST ledger we will see that IGST amount is auto calculated at the rate of 18% of basic the amount.

All the necessary particulars of Sales voucher have been filled now.

Now press Enter key. We will come at Narration. If we want to write any narration then we can fill here, otherwise leave it empty and press Enter key and Accept this screen to Yes to save this Sales Voucher.

This Tax Invoice is now complete and it gets saved in Tally. We can check this invoice in Sales Register in Tally.

Now, we have learnt how we can make GST Tax Invoice in Tally Prime.

 

GST Purchase Entry in Purchases Voucher in Tally Prime (Short Key: F9)

Here we will learn step by step process of making Purchase Entry under GST in Tally Prime.

To record Purchases and make Purchase Entry we have to go to Purchases Voucher in Tally. 

Before learning how to make purchase entry we should be familiar with the basics of GST.

 

Purchase Entrys are of two types:

Local Purchases or Intrastate Purchases 

Interstate Purchases

 For Local Purchases CGST & SGST is charged in Purchase Entry.

For Interstate Purchases IGST is charged in Purchase Entry.

Let's learn this with blow example:

Suppose we purchase "Item A" 2000 pcs at the rate of Rs. 30 from our supplier "Xyz P. Ltd." on 1 Apr 2021

 Follow below mentioned instructions to make Purchase Entry for the above mentioned condition in Tally Prime:

 From Gateway of Tally, press V or go to vouchers. Then we have to go to Purchases Voucher. To go to Purchases Voucher we have to press F9.

Now we will see blank Purchases voucher as shown below:

 

We have put Invoice date first. For this we have to press F2 and put date and press Enter key.

Here Invoice number comes automatically.

Now in Reference no. we have to put Invoice no. of the purchase bill and press Enter key.

Now we come to Party A/c Name. Here we have to select our Sundry Creditor from this dropdown list.

If we have not created our Sundry Creditor’s ledger in Tally yet, then we can create it by pressing Alt+C or go to Create in the dropdown list.

 Then Ledger Creation scree appears:

 

Here, fill Name, Select Under: Sundry Creditors, fill billing address of this party, select State, fill contact details, If this party is GST Registered party then select Regular in Registration Type, fill GST no. of this party and press Enter to Save this screen. After that Sundry Creditor ledger gets created in Tally.

 And now, select this Sundry Creditor’s ledger and press Enter.

Now Receipt details & Order details appear. Here we can write any reference no. if we have that, otherwise we can skip this. Save this screen and move ahead.

Now Party details screen appears. Here we can match the GST no. of this S. Creditor with the Purchase Invoice to be sure that we are entering correct party. After matching the GST No. we have to save this screen.

 

 

 

Now we have to select Purchases ledger from the dropdown list. Without creating Purchases ledger we cannot make Purchase entry in Tally Prime.

If we have not created required Purchases ledger in Tally then follow below mentioned instructions to create a new Purchases ledger.

Press Alt+C or go to Create in the dropdown list. Now ledger creation screen appears as show below:

Here, we have to write “Interstate Purchases @18%” in Name. Then select Purchases Accounts in Under: .

Now we have to select Applicable in “Is GST applicable” and press Enter key twice. We have to select Goods in “Type of Supply” and save this screen. Purchases ledger is now created.

Now we have to select Stock Item which is being sold. If we have not created Stock yet then let’s learn how we can create a new Stock Item.

Press Alt+C or go to Create in the dropdown list. Now Stock item creation screen appears as show below:

Here fill Stock Name in “Name” and Enter key and select Primary in “Under” and press Enter key.

Now we have to select Unit of stock. If we have not created Unit of stock yet then let’s learn how we can create a new Unit of stock

Press Alt+C or go to Create in the dropdown list. Now Unit creation screen appears as show below:

Here fill Formal name and select UQC as per our case.

After filling these details save this screen.

Now under Statutory Details, Select Applicable in “GST Applicable”. And now under “Set /Alter GST Details”, select Yes and press Enter key. 

Now, we will see” GST Details for Stock Item” screen. Here fill HSN no. of goods and select Taxability as Taxable and set GST rate of this stock item as shown below:

Now save this screen, select Goods in Type of Supply and press Enter key to accept the screen.

Now our Stock Item is created.

Now we will put Quantity of stock & Rate of stock in respective columns and amount is automatically shown.   

After pressing Enter key we come at next line.

Here we have to select CGST & SGST ledger. CGST & SGST ledger is selected here as it is Interstate Purchases.

If we have not created CGST & SGST ledger yet, we have to press Alt+C or go to Create in the dropdown list.

Now we will see Ledger Creation screen as shown below:

Now write “CGST” in the Name. In Under, select “Duties & Taxes” and press Enter key.

Now select “GST” in Type of duty/tax and select “Central Tax” in Tax type. Now save this screen as shown below:

Follow below instructions to make SGST ledger:

Write “SGST” in the Name. In Under, select “Duties & Taxes” and press Enter key.

Now select “GST” in Type of duty/tax and select “State Tax” in Tax type. Now save this screen as shown below:

 

 

After creating these, select CGST & SGST ledgers one by one. We will see that CGST & SGST amount are auto calculated at the rate of 9% of basic the amount for each one.

All the necessary particulars of Purchases voucher have been filled now.

Now press Enter key. We will come at Narration. If we want to write any narration then we can fill here, otherwise leave it empty and press Enter key and Accept this screen to Yes to save this Purchases Voucher.

This Purchase Entry is now complete and it gets saved in Tally. We can check this purchase entry in Purchases Register in Tally.

Learn more about Purchase Entry in Tally Prime by watching below video from our Youtube Channel:

https://youtu.be/szou8xUysvc

Now, we have learnt how we can make GST Purchase Entry in Tally Prime.