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How To Enter Credit Note In Tally

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How to enter credit note in tally Complete Information

Various transactions are done by Financial and Non-Financial Transaction in business, one of which is Sales Transaction in which we sell Goods to run our business and get profit, on selling some Goods are bad or bad by the recipient. Damage is received which has to be sent back to the Supplier, whose record is done using Tally Credit Note Voucher. Credit Note Entry in Tally | How to enter credit note in tally. credit note entry in tally with gst The answer is that when the goods sold are returned due to some reason, we enter it in the credit note.

So let’s go to get information about the entire process of Credit Note Entry-

What is Credit Note

Credit note is an important document issued by the recipient to the supplier in the course of business transaction, which is used to credit the recipient’s accounts on sales return so that their accounts can be adjusted.

Credit Note Entry in Tally

In case the goods sold during a business transaction are returned by the recipient due to any reason, credit note entry is done in Tally for which Credit Note Voucher is used whose shortcut key is Ctrl+F9. Is.

First of all go to F11 Features.
Click on Accounting Features.
Use Debit & Credit Notes has to be yes.
Yes also the Record Credit Note as Invoice Mode.
Save it by pressing Ctrl + A.
Go to Gateway fo Tally.
Click on Accounting Voucher.
Select Credit Note Voucher or press Ctrl+F9.
Now click on As Invoice Mode or press Ctrl+V.
Make Credit Note Entry in Tally.

Through the above, you can enter Credit Note in Tally, friends, the thing to note here is that to enter Credit Note, first of all, Credit Note has to be activated as well as we have to use As Invoice mode. Credit note can be easily passed.

Let us try to understand Credit Note Entry Tally through an example, here first of all we will sell some items in Sales, after which we will show it to you by entering Sales Return using Credit Note as well as Day Book and Will try to explain you through Profit & Loss Account –

Credit Note Voucher Entry in tally with GST

Example 1. 50 printers were sold to Shri Finance Company at the rate of ₹ 6500 per piece, in which 18% GST was imposed.

In the above example, 50 printers were sold to Shri Finance Company at the rate of ₹ 6500 per piece, in which 18% GST has been imposed, which we have to enter in the Sales Voucher.

Before entering any Voucher in Tally, we should create Ledger Creation and Stock Item, so for the above example we create Ledger and create Stock Item.

List of Ledger for Sales Entry

S.NO	Ledger	Under Group
1	Shri Finance A/c	Sundry Debtor
2	Sales A/c	Sales Account
3	[email protected]%	Duties & Taxes
4	[email protected]%	Duties & Taxes

As we have prepared Ledgers and Ledgers Group above, now we can do Voucher Entry by creating stock item –

Credit Note Entry in Tally with GST (Credit Note Entry)

To do the Entry of Credit Note in Tally, first of all we have entered on Sales Voucher, now taking the example of the same example, we will do Entry of Sales Return in Credit Note Voucher.

Example 2. Shri Finance Company was returned due to receipt of 10 nos of printer damage.

In the above example, due to receipt of 10 printer damages out of the printer sent by HP Company, we have returned it to HP Company, which we will have to enter in Tally as we have got the knowledge so far that Credit Note Voucher on Sales Return To be entered.

We have created all types of ledger and stock items during purchase transaction so no need to do it again here.

Please read more if you do not understand the complete information given above for doing Credit Note Entry.

Day Book after Credit Note in Tally GST (Day Book after Credit Note)

After making Sales Entry and Credit Note Entry, this type of Transaction will appear in our Day Book so that we have to understand whether the Transaction done by us is correct or not.

Profit & Loss Account after Credit Note Voucher Entry in Tally

After doing Sales Voucher Entry and Credit Note Entry in Tally, we have to generate Report which mostly we prepare at the end of Monthly, Half yearly, Quarterly or at the end of Financial Year, like you can see Profit & Loss Account below. In which we have done Sales Voucher Entry and Sales Return Credit Note Entry.

As we had bought a printer for ₹ 500000 from HP company and made a purchase return of ₹ 50000, which we have entered on the Credit Note Voucher, in the same way the entry of Sales and Sales Return has been done on the Credit Note Voucher, which is clearly Example we are able to see below in Profit Loss Account, from which it is understood that the entry made by us is clear and correct.

Profit & Loss Account after Credit Note Entry Tally GST (Profit & Loss)

Friends, I hope you have got information about Credit Note Entry in Tally GST, if any kind of problem comes, then you must tell us by commenting below so that you can be helped.