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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 2016

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

-a-

Kishore Impex Dr   40000

    To Sales A/c               40000

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

-ea-

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 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-

-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

 

 -ea-

 

  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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