Assignment On Voucher Entries – 1 in Tally Prime

Assignment On Voucher Entries – 1 in Tally Prime

Here's an assignment on voucher entries in Tally Prime:

Problem:

On 01-01-2023, ABC Company purchased 100 units of a product at a rate of $10 per unit from XYZ Company. On 10-01-2023, ABC Company returned 20 units of the product to XYZ Company due to defects. On 15-01-2023, ABC Company sold 70 units of the product at a rate of $15 per unit to LMN Company.

Create the necessary voucher entries in Tally Prime to record these transactions.

Solution:

Step 1: Create a purchase voucher for the purchase of 100 units of the product from XYZ Company.

1. Go to the "Gateway of Tally" and select "Accounting Vouchers" from the list.
2. Select "Ctrl+F9: Purchase" to create a purchase voucher.
3. Enter the name of the supplier as XYZ Company and the purchase invoice details.
4. In the item details section, select the product being purchased and enter a quantity of 100 and a rate of $10.
5. Tally Prime will automatically calculate the amount of the purchase.
6. Press enter to save the voucher.

Step 2: Create a purchase return voucher for the return of 20 units of the product to XYZ Company.

1. Go to the "Gateway of Tally" and select "Accounting Vouchers" from the list.
2. Select "Ctrl+F9: Purchase" to create a purchase voucher.
3. Enter the name of the supplier as XYZ Company and the purchase invoice details.
4. In the item details section, select the product being returned and enter a negative quantity of 20 and a rate of $10.
5. Tally Prime will automatically calculate the amount of the return.
6. Press enter to save the voucher.

Step 3: Create a sales voucher for the sale of 70 units of the product to LMN Company.

1. Go to the "Gateway of Tally" and select "Accounting Vouchers" from the list.
2. Select "Ctrl+F8: Sales" to create a sales voucher.
3. Enter the name of the customer as LMN Company and the sales invoice details.
4. In the item details section, select the product being sold and enter a quantity of 70 and a rate of $15.
5. Tally Prime will automatically calculate the amount of the sale.
6. Press enter to save the voucher.

That's it! By creating these voucher entries in Tally Prime, you can accurately record the transactions and keep your accounts up to date.