The standard price is a predetermined price set for selling the goods. If you have set a standard cost for your stock items, you can also set the standard selling price. On a daily basis, you can enter the date and the price applicable on that date.
1. Specify Standard Selling Price for Stock Item
You can specify the standard selling price daily by entering the date for a stock item. You can also specify the standard price for a period.
1. Open the stock item alteration screen, and configure it to enter the standard selling price.
a. Gateway of Tally > Create > type or select Stock Item > press Enter.
b. Press F12 (Configure) > set the option Provide Standard Buying and Selling Rates to Yes.
If you do not see the above option, set Show more configurations to Yes.
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c. Set the option Alter standard rates to Yes.
d. Enter the Standard Selling Price with the Applicable From date and Rate per unit.
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e. Press Ctrl+A to accept the Standard Rates screen.
2. As always, press Ctrl+Ato save.
2. Record Sales with Standard Selling Price
When you specify the standard selling price for a stock item based on the voucher date, the same appears when you select that stock item in the voucher, and you can record the sales with the specified standard price.
1. Open the sales voucher screen in Item Invoice mode.
a. Gateway of Tally > Vouchers > press F8 (Sales).
b. Press Ctrl+H (Change Mode) > select Item Invoice.
2. Specify the buyer details.
Party A/c name: Select Cash or Bank for cash sales and the party name for credit sales and press Enter.
3. In the Sales ledger, select the common sales ledger.
4. Provide the stock item details.
a. Name of Item: Select the stock item for which you have defined the standard selling price.
b. Enter the Quantity. Based on the voucher date, the Rate appears per the Standard Selling Price defined for the stock item.
5. Select additional ledgers, like transportation charges, insurance, or discount, if any.
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6. Provide Narration, if needed. As always, press Ctrl+A to save.
Even if you have changed the rate per unit in the voucher, based on the voucher date, the standard selling price defined in the stock item appears in the subsequent vouchers.
[Practical Assignment]
[Sale of Taxable Items & Goods]
SALE TRANSACTION [F8]
Swayam Sales Sold the following Items and Goods to various Customer both within State as well as Outside State with GST .
Suggestion:
(i) Method of Voucher Number [ Automatic (Manual Override)]
Select Automatic (Manual Override) if you want to auto-number the vouchers and manually override the auto-numbering, if required. For example, if the voucher number is 10, you can manually override the voucher number as required, say 21. The next voucher number will be 22.
Set Prevent Duplicated to Yes to avoid duplicate voucher numbers during entry. You can enable this option only if there are no transactions of this voucher type.
Go to Gateway of Tally > Alter > Voucher Type > Sales.
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(ii) Voucher GST Class Details :
Before start your Sale Voucher, you may Alter your Sale Voucher Class into (i) GST & (ii) IGST with predefined Sale Ledger , GST Ledger, Trade Discount on Sale , Rounded Off Ledger, so that your Sale Voucher entry will be Speedy with 100% accuracy.
GST Class Details :
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IGST Class Details :
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Go to F11 (Features) → Enable ‘Yes” to ‘Use Discount Column in Invoices’ under Inventory Features : to provide Trade Discount product-wise.
Sl. No. Date Transactions
1. 13/4/2024 Sold the following Items to Lexsite Pvt. Ltd
| ITEMS | Qty. | Unit | Rate |
| Panasonic 1.5 Ton Split AC | 1 | Nos. | 50,000 |
| Whirlpool 184 L S/Door Refrigerator | 1 | Nos. | 18,000 |
| Xiaomi 138 cm (55 inches) Smart TV | 1 | Nos. | 50,000 |
[ Invoice value Rs. 1,38,160]
2. 28/5/2024 Sold the following Items Shwetha &Co (debtor)
| ITEMS | Qty. | Unit | Rate |
| Dell 14 Laptop | 1 | Nos. | 36,000 |
| HP Laptop 15s | 1 | Nos. | 52,000 |
| Lenovo Idea Centre 3 Desktop | 1 | Nos. | 36,000 |
[ Invoice value Rs. 1,46,320]
3. 9/6/2024 Sold the following Items to Adarsh Technology Pvt. Ltd.
| ITEMS | Qty. | Unit | Rate |
| Lenovo Idea Centre 3 Desktop | 1 | Nos. | 35,000 |
| Dell OPTIPLEX 3060 Tiny Desktop | 1 | Nos. | 32,000 |
| ASUS VivoBook 15 Laptop | 2 | Nos. | 23,000 |
[ Invoice value Rs. 1,33,340]
4. 11/7/2024 Sold the following Items to Chitra &Co.
| ITEMS | Qty. | Unit | Rate |
| Pepsi Soft Drink, 750 ml | 10 | Pcs. | 30 |
| Coca-Cola Diet Soft Drink, 300ml | 20 | Pcs. | 35 |
| Tropicana Litchi 1000 ml | 5 | Pcs. | 110 |
| Fortune Sunflower Oil 1L | 5 | Pcs. | 130 |
[ Invoice value Rs. 2,419 with Rounded off (+) 0.50]
5. 26/8/2024 Sold the following Items to Eric Enterprises (IGST)
| ITEMS | Qty. | Unit | Rate |
| Suffola Active Pro Rice Bran Oil 1L | 2 | Pcs. | 150 |
| Patanjali Kachi Ghani Mustard Oil 1L | 3 | Pcs. | 160 |
| Tata Sampan Gota Urad Dal 1Kg. | 5 | Pcs. | 240 |
| Good Life Chana Dal 500 gm. | 10 | Pcs. | 80 |
| Organic Moong Dal 1 Kg. | 8 | Pcs. | 220 |
[ Invoice value Rs. 4,767]
6. 28/9/2024 Sold the following Items to Darshan & Sons (IGST)
| ITEMS | Qty. | Unit | Rate |
| HP T630 High Performance Mini PC | 1 | Nos. | 30,000 |
| HP Laptop 15s | 1 | Nos. | 52,000 |
| Realme NARZO 70 Pro 5G | 1 | Nos. | 20,000 |
| Xiaomi 138 cm (55 inches) Smart TV | 1 | Nos. | 51,000 |
[ Invoice value Rs. 1,80,540]
7. 30/10/2024 Sold the following Items to Swayam Sales (IGST)
| ITEMS | Qty. | Unit | Rate |
| LG 1.5 Ton Split AC | 1 | Nos. | 47,000 |
| Haier 273 L D/Door Refrigerator | 1 | Nos. | 27,000 |
| Godrej 7 Kg T/Load Washing Machine | 2 | Nos. | 15,000 |
| Sony Bravia 126 cm (50 inches) Smart TV | 1 | Nos. | 53,000 |
[ Invoice value Rs. 1,85,260]
8. 20/11/2024 Sold following items to Sudershan & Co.
| ITEMS | Qty. | Unit | Rate |
| Lenovo Idea Centre 3 Desktop | 1 | Nos. | 35,000 |
| Dell OPTIPLEX 3060 Tiny Desktop | 1 | Nos. | 32,000 |
| Dell 14 Laptop | 1 | Nos. | 36,000 |
| Apple iPhone 13 (128GB) | 1 | Nos. | 51,000 |
[ Invoice value Rs. 1,81,720]
9. 24/11/2024 Sold the following Items to Karnataka Stores (IGST)
| ITEMS | Qty. | Unit | Rate |
| Coca-Cola Diet Soft Drink, 300ml | 10 | Pcs. | 50 |
| Tropicana Litchi 1000 ml | 20 | Pcs. | 120 |
| Fortune Sunflower Oil 1L | 12 | Pcs. | 140 |
| Suffola Active Pro Rice Bran Oil 1L | 2 | Pcs. | 150 |
| Patanjali Kachi Ghani Mustard Oil 1L | 6 | Pcs. | 180 |
| Tata Sampan Gota Urad Dal 1Kg. | 4 | Pcs. | 260 |
| Good Life Chana Dal 500 gm. | 6 | Pcs. | 75 |
| Organic Moong Dal 1 Kg. | 10 | Pcs. | 190 |
[ Invoice value Rs. 10,121 with Rounded off (+) 0.50]
10. 16/12/2024 Sold the following Items to Darshan and Sons (IGST) with 5% Trade Discount.
| ITEMS | Qty. | Unit | Rate |
| Lenovo Idea Centre 3 Desktop | 1 | Nos. | 36,000 |
| Dell OPTIPLEX 3060 Tiny Desktop | 1 | Nos. | 32,000 |
| Whirlpool 184 L S/Door Refrigerator | 1 | Nos. | 16,000 |
| Xiaomi 138 cm (55 inches) Smart TV | 1 | Nos. | 51,000 |
[ Invoice value Rs. 1,58,340]
