Steps to be Followed

  1. We first Select or Create Party
  2. Then Select or Create Sale Ledger
  3. And then Put item details
  4. Select Item or Create by using Alt C
  5. Put item Name .
  6. Select Unit or Create by using Alt C
  7. (If units in decimals, then decimal places are also put as 2
  8. Enter Enter or Ctrl A and Item is Created
  9. Put Quantity and Rate
  10. Amount is automatically calculated
  11. Enter Enter or do Ctrl A

Example 1

MY COMPANY

Bill To -KISHORE IMPEX

Inv No-2501 Dt 1 Jul 

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

Pass Entry assuming Accounts with Inventory

View Answer

Example 2

MY COMPANY

Bill to -KISHORE IMPEX

Inv No-2502    Date:- 1 Sep 

SALES QTY Units RATE AMT
ITEM A 2000 Kg 8 16000
ITEM B 4000 pcs 6 24000
TOTAL       40000
ADD        
CGST 2.5%       1000
SGST 2.5%       1000
TOTAL       42000

Pass Entry assuming Accounts with Inventory  

View Answer

 

Example 3

MY COMPANY

Bill To-RAKESH ASSOCIATES

Inv No-2503 Dt 1 Sep

SALES QTY(pcs) Units RATE AMT
ITEM A 3000 Kg 23 69000
ITEM B 8000 pcs 25 200000
TOTAL       269000
ADD        
IGST 5%       13450
TOTAL       282450
View Answer

Example 4

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

Bill No is 2504 

Pass Entry

View Answer

 

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.