Assignment On Voucher Entries -2 in Tally Prime

Assignment On Voucher Entries -2 in Tally Prime

Sure, here's another assignment on voucher entries in Tally Prime:

Problem:

On 01-01-2023, ABC Company purchased 500 units of a product at a rate of $20 per unit from XYZ Company on credit. On 15-01-2023, ABC Company paid 50% of the total amount due to XYZ Company. On 31-01-2023, ABC Company paid the remaining amount due to XYZ Company.

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

Solution:

Step 1: Create a purchase voucher for the purchase of 500 units of the product from XYZ Company on credit.

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 500 and a rate of $20.
5. Tally Prime will automatically calculate the amount of the purchase.
6. Press enter to save the voucher.

Step 2: Create a payment voucher for the partial payment of 50% of the total amount due to XYZ Company.

1. Go to the "Gateway of Tally" and select "Accounting Vouchers" from the list.
2. Select "Ctrl+F5: Payment" to create a payment voucher.
3. Enter the name of the party as XYZ Company and the payment details.
4. In the "Particulars" section, select the purchase ledger for the transaction and enter the amount of 50% of the total amount due.
5. Press enter to save the voucher.

Step 3: Create another payment voucher for the remaining amount due to XYZ Company.

1. Go to the "Gateway of Tally" and select "Accounting Vouchers" from the list.
2. Select "Ctrl+F5: Payment" to create a payment voucher.
3. Enter the name of the party as XYZ Company and the payment details.
4. In the "Particulars" section, select the purchase ledger for the transaction and enter the remaining amount due.
5. 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.