TallyPrime 3 is an advanced accounting software that offers a wide range of features to streamline your business operations. One of the key functionalities of TallyPrime 3 is the ability to handle the purchase of goods and services efficiently. With TallyPrime 3, you can easily record and track your purchases, manage your suppliers, and generate …
In your business, you can get supplies from a local party or a party from a different state. A GST purchase is identified as a local or interstate according to the location at which the goods or services are going to be consumed. The purchase of goods or services from a supplier in the same …
Local Purchase (within State) of Goods / Items in TallyPrime-3 Read More »
You can record a local purchase under GST for the purchase of services in TallyPrime-3, using a Purchase voucher in Accounting Invoice mode. Open the purchase voucher screen in Accounting Invoice Mode. Gateway of Tally > Vouchers > press F9 (Purchase). Alternatively, press Alt+G (Go To) > Create Voucher > press F9 (Purchase). Press Ctrl+H (Change Mode) to select the required voucher mode (Accounting Invoice, in this case). …
Local (within State) Purchase of Services in TallyPrime-3 Read More »
The purchase of goods or services from a supplier from another state attracts integrated tax. You can record an interstate purchase of goods in TallyPrime, using a Purchase voucher in Item Invoice mode. To record an interstate purchase of Goods: Open a purchase voucher in the Item Invoice mode. Press Alt+G (Go To) > Create …
Interstate (Outside State) Purchase of Goods & Items in TallyPrime-3 Read More »
You can record an interstate purchase of services in TallyPrime, using a Purchase voucher in Accounting Invoice mode. Open a purchase voucher in the Accounting Invoice mode. Press Alt+G (Go To) > Create Voucher > press F9 (Purchase). Alternatively, Gateway of Tally > Vouchers > F9 (Purchase). Press Ctrl+H (Change Mode) and select Accounting Invoice. …
Interstate (Outside State) Purchase of Services in TallyPrime-3 Read More »
Some Purchase Voucher includes some Additional Charges like…Delivery Charges, Insurance Charges, Installation Charges, Rounded Off, Discount on Purchase etc.. etc.. >> Creation of Additional Charges Ledger included before GST in Purchase Bill The main situation is that whether all those additional charges are charged before GST or after GST. If those Expenses charged before GST, …
Purchase Voucher with some Additional Charges/ Discount etc in TallyPrime-3 Read More »
While making a purchase of goods and services, based on your business terms with your supplier, you may get discounts on certain items depending on the quantity or supply. To record a purchase with such trade discounts in TallyPrime, you can show the discount percentage against the quantity of the item. Also, you have the …
Purchase of Items with Trade Discount in TallyPrime-3 Read More »
In some business cases, when you make a purchase, you might receive a few items for free from the supplier. For example, if you had placed an order for 12 pieces of an item, the supplier might have billed you for only 10 pcs and given the remaining 2 pcs without any additional cost. Alternatively, …
With the introduction of GST, the goods and services have been classified into Nil Rated, Exempted, Zero Rated and Non-GST supplies. The Purchase or Sales of these goods to a local or interstate customer does not attract GST, and can be recorded using a Purchase / Sales voucher. Let us take a look at what …
Purchase of ‘Nil-Rated’, ‘Exempted’, Items & Goods using TallyPrime-3 Read More »
Your business will incur day-to-day expenses such as rent, telephone bills, Internet Bill, stationery expenses, and so on, to carry out the operations. If your business is GST registered, then these expenses are taxable under GST, and therefore, you will have to record them accordingly. TallyPrime enables you to create an expense ledger and record …
Record Expenses with GST in Purchase Voucher in TallyPrime-3 Read More »
In your business, if you purchase fixed assets like buildings, machinery, equipment, vehicles, tools, and more that you do not trade in, then you can record such purchases in TalllyPrime using a Purchase voucher. Purchase of capital goods are recorded as fixed assets and is taxable. Input tax credit can be availed and the impact …
Purchase of Fixed Assets (Capital Goods) in TallyPrime-3 Read More »
Reverse Charge Mechanism (RCM) is the process of payment of GST by the receiver instead of the supplier. In this case, the liability of tax payment is transferred to the recipient/receiver instead of the supplier. In other words, If your business receives goods/services that fall under reverse charge mechanism (RCM), then you need to pay GST …
Purchase of Goods & Services under Reverse Charge Mechanism (RCM) in TallyPrime-3 Read More »
Order Processing in TallyPrime can be classified into .. Purchase Order Processing Sales Order Processing and In TallyPrime, Order Processing is linked to Inventory. This allows tracking of the order position for a Stock Item. Using this you can track the arrival of goods ordered and whether the ordered Stock Item are delivered on time …
Debit Note is a document issued to a party stating that you are debiting their Account in your Books of Accounts for the stated reason or vice versa. It is commonly used in case of Purchase Returns, Escalation/De-escalation in price, any other expenses incurred by you on behalf of the party etc. All features and functions …
Purchase Return / Debit Note Voucher (Alt+F5) under GST in TallyPrime-3 Read More »
In some business scenarios, you might need to change the taxable value of items or services in your voucher. For example, when you want to calculate GST less than the item value, or when you want to increase the assessable value more than the item cost you will have to change the assessable value. TallyPrime …
Change in the Assessable (Taxable) Value of Purchase Under GST in TallyPrime-3 Read More »
In your business, you deal with the movement of your inventories from one place to another. In some cases, you must be receiving inventories from your supplier or any other party. TallyPrime release 3.0 brings this exclusive feature that enables you to record the movement of inventory using the Material In voucher with GST taxation. …
GST Invoice Support for ‘Material in Voucher’ in TallyPrime-3 Read More »
value. Open the purchase voucher screen and select the accounting invoice mode. Gateway of Tally > Vouchers > press F9 (Purchase). Alternatively, press Alt+G (Go To) > Create Voucher > press F9 (Purchase). Press Ctrl+H (Change Mode) to select the required voucher mode (Accounting Invoice, in this case). Specify the supplier details. Supplier Invoice No. …
Record Purchase of Services as Expenses in TallyPrime-3 Read More »
When it comes to managing inventory and accounting, TallyPrime-3 offers a wide range of features and functionalities to streamline the entire process. One such feature is the ability to account for the additional cost of purchase on stock items. This feature is particularly useful when you have to consider additional expenses incurred during the procurement …
Additional Cost of Purchase on Stock Items in TallyPrime-3 Read More »
In case you have already recorded a purchase transaction, and there is a change in the price of the item, you don’t have to cancel or delete the purchase transaction. You can record another transaction to account for the increase or decrease in the price. In TallyPrime you can record a credit note to increase …
Credit Note for Increase in Purchase Value in TallyPrime-3 Read More »
This section will capture the total amount eligible for input tax credit, along with the breakup of the tax applicable (CGST, SGST/UTGST, IGST, and Cess). You can find finer detailing under the following sub-sections. Input Tax Credit Available (either in part or in full) Input Tax Credit Reversed Net Input Tax Credit Available (A) – …
