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.
A. 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.
[120-Sales Process in TallyPrime-3 & Higher]
c. Set the option Alter standard ratesto Yes.
d. Enter the Standard Selling Pricewith the Applicable From date and Rate per unit.
[121-Sales Process in TallyPrime-3 & Higher]
e. Press Ctrl+Ato accept the Standard Rates screen.
2. As always, press Ctrl+Ato save.
B. 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. fy 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 Pricedefined for the stock item.
5. Select additional ledgers, like transportation charges, insurance, or discount, if any.
[122-Sales Process in TallyPrime-3 & Higher]
6. Provide Narration, if needed. As always, press Ctrl+Ato 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.
