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How to Pass Sales Entries?

We know that

Sales Entry are of form

Party Dr

      To Sales

Or

Cash/Bank Dr

      To Sales

 

Example 1

MY COMPANY

Bill To -KISHORE IMPEX

Inv No-2501 Dt 1 Jul 2016

SALES QTY Units RATE AMT
ITEM A 2000 Kg 8 16000
ITEM B 4000 pcs 6 24000
TOTAL       40000

 Pass Entry

-a-

Kishore Impex Dr   40000

    To Sales A/c               40000

-ea-

Pass Entry assuming Accounts with Inventory

-a-

Kishore Impex Dr   40000

    To Sales A/c               40000

       Item A 2000 Kg 8 16000
       Item B 4000 pcs 6 24000

 

Example 2

MY COMPANY

Bill to -KISHORE IMPEX

Inv No-2502    Date:- 1 Sep 2016

SALES QTY Units RATE AMT
ITEM A 2000 Kg 8 16000
ITEM B 4000 pcs 6 24000
TOTAL       40000
ADD        
VAT 5%       2000
TOTAL       42000

Pass Entry assuming Accounts with Inventory  

-a-

Kishore Impex Dr   42000

    To Sales 5% Local A/c               40000

       Item A 2000 Kg 8 16000
       Item B 4000 pcs 6 24000   

   To Output Vat 5%           2000

-ea-

  Example 3

MY COMPANY

Bill To-RAKESH ASSOCIATES

Inv No-2503 Dt 1 Sep2016

SALES QTY(pcs) Units RATE AMT
ITEM A 3000 Kg 23 69000
ITEM B 8000 pcs 25 200000
TOTAL       269000
ADD        
CST 2%       5380
TOTAL       274380

-a-

Rakesh Associates Dr 274380

       To Sales 2% Central    269000

       To Output Cst 2%             5380

-ea-

Example 4

Cash Sales 1000 pieces Item B @ 30 per piece (5% Vat Inclusive) on 1 Oct 2016 

Bill No is 2504 

Pass Entry

-a-

Amount after Vat=30000

Amount Before Vat=30000*100/105=28571

Vat @ 5%=28571*5%=1429

 

   
AMT 28571
VAT 5% 1429
TOTAL 30000

Cash Dr   30000

      To Sales 5% Local  28571

         Item B 1000 pcs  28.57  28571

       To Output Vat 5%   1429

( We  put Quantity 1000 pcs & Amount 28571, Tally Automatically takes Rate of 28.571)

 

 

-ea- 

 

   

Relevant Groups while Creating Ledgers of Sales

  • Sales under Sales Accounts
  • Party under Sundry Debtor
  • Bank under Bank Account
  • Cash Ledger already created

 

How to Pass Entry

Accounting Voucher--->Select Date-à Select Type of Entry----->. Select Sales Voucher

 

This also can be entered in Tally by 2 methods

  • Double Entry Method (as a voucher)
  • Invoice Method

 

Sale Entry by Double Entry Method

Click Ctrl V (as a voucher)

IN Dr Put party Name/Cash/Bank A/c

In Cr Put Sales A/c

 

We can put Item Details in Sale also by doing the following

STEPS TO BE FOLLOWED

  1. In Company Info while Creating Company- Make Accounts With Inventory instead of Accounts Only
  2. In Sale Ledger-Make Inventory Values are affected as Yes
  3. Select Item or Create by using Alt C
  4. Put item Name
  5. Select Unit or Create by using Alt C (If units in decimals, then decimal places are also put a
  6. Enter Enter or Ctrl A and Item is Created
  7. Put Quantity and Rate
  8. Amount is automatically calculated
  9. Enter Enter or do Ctrl A
  1. Accounts Tax
  2. Tally
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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