Tally Prime

Prepared by – Babloo Sir (8368894657)

Practical Question

Q-1
Purchase product from Ram Dutt and apply CESS 160% + 2 Rs per Quantity Cess both

• 100 Pcs chani Khaini @ Rs 6 Per Pcs
• 200 Pcs Vimal Gutka @ Rs 8 Per Pcs
Calculate total GST with CESS and outstanding balance report of Ram Dutt

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Registration - Composition Entry -

GSTR4

Composition Dealer?

A Composition dealer is registered dealer but there is some limitation as comparison of regular
dealer. Composition dealer taxation is 1% on total Sales / Profit and Composition dealer can't
be able to ITC for any taxable transaction as comparison of Regular dealer. Composition dealer
not generate any tax invoice.

Composition Transaction in Tally Process

(After create New company) - *Note - (Set Date According to Current Year)
• GST Option - ' Yes'

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• Gateway of Tally - Create- Inventory Masters - Units -
• Set Any Product in Stock Item (e.g. Veg Thali)

o Set GST Details – Yes and (Taxability – Taxable)

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• Create Party Ledger - Goods/Service to be Sold

• Sales Ledger
• Gateway of Tally- Voucher - Press F8

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• See GSTR-4 Report (Display - GST Report – GSTR-4 and GST CMP-08)

• GSTR-4

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Q- 1 ABC Food Point sold following item to different party (Customer). Calculate GSTR4
Report.

Party Item QTY Price Date of
Mohit Transaction
Sagar Burger 5 20
Neha Pastry chocolate 8 10 1st Apr
Pizza Sandwich 2 80
Cheese Burger 3 30 1st Apr
Pasta 5 60
Cream Roll 6 15 2nd Apr
Paneer Patty 7 25

Solution: GSTR4 - 9 RS. 95 Paisa.

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GST
Import Goods and Service

When any Indian firm bought goods from other country, he is liable to pay GST + Custom duty
charge on import goods and service. The rate of 10% of the value of goods import in India when
bought goods from the other company. Import of services means the supply of any service where
the supply service located outside India and the recipient of service is located in India.
Example-

1. Indian Firm ABC Gaming PVT LTD. Bought 20 PCS Play Station Games from
Anthony Dsouza, United States @ $ 150 Per PCS.

2. ABC Gaming PVT LTD. Bought Services to Maintenance Gaming and Paid to
Jayawardhan, Sri Lanka RS 50000.

• Step-1

Create Company and set feature

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• Step-2
Gateway of Tally – Create – Ledger

1. Anthony Dsouza - Sundry Creditor

2. Jayawardhan - Sundry Creditor

3. Input IGST @ 18% & 12 %

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4. Custom Duty

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5. Purchase for Import Goods

6. Purchase for Import Services

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• Step-3
Gateway of Tally – Create – Inventory Masters – Unit
Create - Item

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• Step-4
Gateway of Tally – Voucher – Press F9 – (Purchase)

1. Indian Firm ABC Gaming PVT LTD. Bought 20 PCS Play Station Games from
Anthony Dsouza, United States @ $ 150 Per PCS.

Note – Indian Amount will calculate = 150 x 72 RS. (Assume 1 $ = 72 RS) = 10800

• Press Ctrl + I – GST Analysis Report
Check GSTR2 Report

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2. ABC Gaming PVT LTD. Bought Services to Maintenance Gaming and Paid to
Jayawardhan, Sri Lanka RS 50000.

Press Ctrl + H – Accounting Invoice (no Item when buy service)

• Check GSTR2 Report

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GST Calculation
Expenses / Services / Assets

GST (Input) can Avail on those assets and expenses or services which is Under GST terms and conditions.
Such as Stationery bill (input) GST can Avail by firm or any CA Service provide charges GST also can claim
for ITC, Purchase Capital goods used in Business (Laptop) also can claim as ITC. If any Expenses for
Employee E.G. (Catering) Restaurant bill or Entertainment expenses Bill include GST cannot be claim for
ITC.
Example –

1. Firm Purchase Dell Laptop for Business use Rs 35000 from Dell Computers Pvt Ltd, New Delhi GST
07AAMCS9712N1ZM Invoice number 290 on 1st Dec, GST 18%

2. Paid Professional Charges Rs 25000 to CA Anuj Aggarwal, Delhi GST 07BCLPS7659P1ZD on 2nd
Dec, GST 18%

3. Purchase Packaging Material Rs 10000 from Manohar Lal, Delhi GST 07AABFL2075M1Z6
(Composition Scheme).

4. Purchase Stationery for Office use from Sharma Stationery Rs 3000, Delhi GST 07AADPA0421E1ZP
on 31st Dec, GST 18%

 Step-1
Create Company and set GST features

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 Step-2
Gateway of Tally – Accounting Masters - Create - Ledgers
1. Dell Laptop

2. Dell Computers Pvt Ltd.

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3. Professional Charges

4. CA Anuj Aggarwal

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5. Packaging Material

6. Manohar Lal

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7. Stationery

8. Sharma Stationery

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9. Input CGST and SGST Ledger

 Step-3
Gateway of Tally – Voucher – Press (F9) Key

1. Firm Purchase Dell Laptop for Business use Rs 35000 from Dell Computers Pvt Ltd, New Delhi GST
07AAMCS9712N1ZM Invoice number 290 on 1st Dec, GST 18%

 Press Ctrl + H (Accounting Invoice)
 Press F2 – Change Date 1st Dec

2. Paid Professional Charges Rs 25000 to CA Anuj Aggarwal, Delhi GST 07BCLPS7659P1ZD on 2nd
Dec, GST 18%
Press F2 – Change Date 2nd Dec

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3. Purchase Packaging Material Rs 10000 from Manohar Lal, Delhi GST 07AABFL2075M1Z6

(Composition Scheme).

4. Purchase Stationery for Office use from Sharma Stationery Rs 3000, Delhi GST 07AADPA0421E1ZP
on 31st Dec, GST 18%
Press F2 – Change Date 31st Dec

 Step-4
 GSTR2 Report View
 Composition Entry Show in Nil Rate and other B2B Invoice.

Gateway of Tally – Display more Reports – GST Reports – GSTR2 – Change Period 1st Dec to 31st Dec

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Practical Assignment

Q- Pass the Firm Expenses Incurred in the month of August

Bill Date Party Name GSTIN No Particulars Amt
No
Professional 20000
93 1-Aug CA Hemant Sharma 07BCLPS7659P1ZD charges 160000
06AAACI1195H2ZP
Deloitte Haskins and 07AAMCS9712N1ZM Audit Fees 32000
62 1-Aug Sells, Gurgaon 62000
Printer 15000
124 1-Aug HP Computers Pvt Catering for 2000
Ltd,New Delhi Office Party
Packing Material
678 2-Aug Shiva Caterers, Delhi 07ADLPA7624C1ZW for Goods
07AABFL2075M1Z6 Stationary for
34 2-Aug Sanjay Plastic (Composition Scheme) Office
Works,Delhi
07AADPA0421E1ZP
542 2-Aug Vikram Stationary
Works,Delhi

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POS INVOICE-GST

Tally PRIME

What is Pos Invoice ?

Point of sales invoice is retails invoice, POS invoice generally made by way of cash, debit or
credit card. POS invoice can be printed with custom title and message. POS voucher can be
created from voucher types in inventory section. Pos Features describe below

• No further calculation needed for balance given to consumer
• It is record as cash/bank transaction and also included the consumer name in invoice
• Time and Date also mentioned in POS invoice
• we can also create a class for auto tax calculation

EXAMPLE *Note - (Set Date According to Current Year)

STEP-1:

Create Company and Save - Give GST details as shown below:

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Step-2:

Create Ledgers
Gateway of Tally→Create - Ledger

(i) Local Debtor(Consumer): Piyush.

(ii) Local Sales @ 5%

(iii) CGST, SGST

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Step-3:

Gateway of Tally→ Create - Inventory Masters
(i) Units

(ii) Stock Items→Create - (1st Item)

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➢ 2nd Item

Step-4:

Gateway of Tally→ Create →Voucher Types

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Step-5:

Gateway of Tally→ Vouchers→Press F8 and select POS

• Pass 1 Quantity of each item to Piyush

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Step-6:

Now Pass the Entry and Print the bill (If preview not show Press (Alt+I))

Step-7:

Check Cash/Bank Balance
➢ Display - Account Book - Cash Balance

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PRACTICAL QUESTION

Q-1 AGGARWAL Store Firm has following opening stock of item which is given below table
Prepare POS invoice for (Sales Transaction) - FIRM GST Number - 07ABCDE1234F1Z2

Item Name QTY Price
Kurkure 100 8
Oyes 100 4
Real Juice 100 13
Lays Salted 100 8

➢ Sold goods to Neeraj (Consumer)Received 500 as cash, Create POS invoice With round

invoice for following item (Note – Following Sales Price is inclusive GST- 5%)

Item Name QTY Price
Kurkure 5 10
Oyes 5 5
Real Juice 5 15
Lays Salted 5 10

➢ Do following Step
o Print POS invoice
o Check cash balance

Answer (Cash-Balance)
Cash - 200 Rs

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GST

Advance Received Adjustment

• E.G (GST Adjustment on Advance Received Treatment)
1st July - Firm Received advance Payment Rs 20,000 from Abhinav Traders against
Good sold 100 Pcs of Mouse @ Rs 299. (GST Extra 18%)
1nd Aug – Sold 100 Pcs Mouse to Abhinav Traders @ Rs 299. (GST Extra 18%)
2nd Aug – Balance Amount Received from Abhinav Traders.

➢ Step-1

Create firm and Activate following features.

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➢ Step-2

Create - Ledger

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Prepared by- Babloo Sir (8368894657) Create - Inventory

• Unit

• Item (Pass 200 Opening Balance – Rs 250)

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➢ Step-3

1st July - Firm Received advance Payment Rs 20,000 from Abhinav Traders against
Good sold 100 Pcs of Mouse @ Rs 299. (GST Extra 5%)

• Gateway of Tally – Voucher – Press F2 – Change Date (1-July)
• Press Alt + J

• Select Abhinav Traders

Here CGST and SGST will pay in the month of July Because we received advance against of good
Sold, so we increase our tax liability at the end of the month and when Goods Actually sold then
we decrease our tax liability.

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• Received Amount CASH/BANK

➢ Step-4

Now, Increase Tax Liability at the end of the month in July, Press F7- Journal Voucher and then
Press F2 and Change Transaction Date – 31st July

• Press Alt + J and fill nature of Adjustment and additional Details.

• CGST (1525.42) + SGST (1525.42)
• Total Liability in July month is 3050.84

Provide GST Details – Yes

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➢ Step-5

Check GSTR1 Report
Display More Reports – GST Reports – GSTR1

Press F2 – Change Period to show Report

➢ Step-6

1nd Aug – Sold 100 Pcs Mouse to Abhinav Traders @ Rs 299. (GST Extra 5%)

Gateway of Tally – Voucher – Press F8 (Sales) Voucher
Press F2 Key – Change Transaction Date – 1st Aug

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• Agst Ref will adjust previous received amount and show only outstanding amount which
will received.

Check Reports
Display More Reports – Statement of Accounts – Outstanding’s – Receivables.

➢ Step-7

2nd Aug – Balance Amount Received from Abhinav Traders.

Gateway of Tally – Voucher – Press (F6) and Press F2 (Change Transaction Date) – 2nd Aug.

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Check Reports
Display More Reports – Statement of Accounts – Outstanding’s – Receivables

➢ Step-8

Now, in July Month we pay Advance Tax on 20000 (Against Mouse sold in Aug) – We decrease
our Tax Liability in month of good sold – end of month
Gateway of Tally – Voucher – Press (F7) Journal – F2 Change Date (31st Aug)
Press Alt + J Key

Provide GST Details – YES

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➢ Step-9

Check GSTR1 Report
Display More Reports – GST Reports – GSTR1

Press F2 – Change Period to show Report

Press F2 – Change Period to show Report

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PRACTICAL ASSIGNMENT

S.no Product Details QTY (opening) Cost Price HSN Code
1 T-Shirt 500 295
2 Jeans 500 450 6109

5211

1st June - Firm Received advance Payment Rs 40,000 from Hemant Garments
against Good sold 150 Pcs of T-Shirt @ Rs 400. (GST Inclusive 5%)

2nd June - Firm Received advance Payment Rs 10,000 from Pooja Garments
against Good sold 50 Pcs of Jeans @ Rs 600. (GST Inclusive 5%)

1nd July – Sold 150 Pcs T-Shirt to Hemant Garments @ Rs 299. (GST Extra 5%)
1nd July – Sold 50 Pcs jeans to Pooja Garments @ Rs 299. (GST Extra 5%)
2nd July – Balance Amount Received from Hemant Garments and Pooja Garments.

Calculate Tax Liability in the month of June?

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Tally Prime
VAT

In India GST Introduced on 1st July 2017 but before we use VAT in our invoice for
local sales. There is another country which not working with GST they are still using
VAT e.g. Bangladesh, Saudi Arab etc...

• Step-1

Create firm and change the country

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• Fill firm Tin number and activity code after apply tax rate as per country.

• Step-2
Create – Ledger

1- Input Vat @15%

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2- Output Vat @ 15%
3- Purchase

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4- Sales

5- Creditor

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6- Debtor

• Step-3
Create - Unit
Create - Item

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• Step-4
Gateway of Tally – Voucher – Press F9 (Purchase) and F2 for
Transaction Date

Gateway of Tally – Voucher – Press F8 (Sales)

Check Tax Payable
Gateway of Tally – Balance Sheet – Press Alt+F1 (Details)

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Free-Item Invoice

Tally-PRIME

What is free-item invoice?

If we sold some product to any customer and that product contains free item unit, that free item
amount not include in invoice amount , free item only deduct from the stock and amount not to be
added in consumer invoice. For e.g. We sold mobile phone to a customer ,Mobile cover and Tempered
glass amount not to be included in Mobile Invoice and we do not pay extra amount for this accessories,
but firm should be maintain free item stock Entries.

Example *Note - (Set Date According to Current Year)
Step-1

• Create new firm and Alter in Voucher from gateway of tally (Sales) or (Purchase) Where
Free Item is maintained.

Step-2

• Gateway of tally - Create - Inventory Masters - Units

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• Create - Stock Item

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Step-3

• Gateway of tally - Create - Ledger
1. Party Ledger (Debtor)

2. Sales Ledger

STEP-4
• Gateway of Tally - Voucher - Press F8 (Sales)

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