Lesson
All of the company's cash and bank received are recorded on received vouchers. By selecting the Use Single Entry mode for Pymt/Rcpt/Contra in the F12 setup, received vouchers can be passed using either Single Entry or Double Entry mode. A sale is any exchange of products or services for cash or other assets between two or more people. A sales order is a document that the seller creates that contains information about the goods or services that the consumer has ordered. The sales order includes information on the goods and service, as well as terms and conditions, quantity, and pricing. All of the company's cash and bank payments are recorded on payment vouchers. By selecting the Use Single Entry mode for Pymt/Rcpt/Contra in the F12 setup, payment vouchers can be passed using either Single Entry or Double Entry mode. A purchase is the procedure by which an individual pays money to obtain ownership of items or properties transferred into his name from another. A purchase order is a formal document that a customer uses to place an order with a supplier. For a purchase from the vendor, a purchase order details the products, quantities, costs, and terms of credit. When a vendor accepts a purchase order, it turns into a binding legal agreement. Step 1 - Press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.Alternatively, Gateway of Tally > Create > type or select Ledger and press Enter. Step 2 - Name: Enter the name of the ledger account you want to create. Step 3 - Alias: Enter the alias of the ledger account, if required. You can access the ledgers using the original name or the alias name. Step 1: Go to Gateway of Tally > Accounts Info. > Ledgers > Create. Alternatively, press Alt+G (Go To) > Create Master > Ledger > and press Enter. Step 2: Enter the Name of the customer ledger. Step 3: Select Sundry Debtors from the List of Groups. Step 4: Set Maintain balances bill-by-bill to Yes. Step 5: Enter the Default Credit Period, if any. Step 6: Set Check for credit days during voucher entry to Yes , if required. Step 7: Enter the Mailing Details . Step 1: Go to Gateway of Tally > Accounts Info. > Ledgers > Create. Step 2: Enter the Name of the Vendor Ledger. Step 3: Select Sundry Creditors from the List of Groups . Step 4: Set Maintain balances bill-by-bill to Yes . Step 5: Enter the Default Credit Period , if any. Step 6: Set Check for credit days during voucher entry to Yes , if required. Step 7: Enter the Mailing Details . Step 8: Select the Country to which the supplier belongs. The application will infer the nature of removal based on the country selected. To enter information about the stock or inventory that your company handles, you must create a stock item in TallyPrime. After creating a stock item, you can record business transactions and monitor the stock item's specifics. To create a stock item, just type its name in and save it. Additionally, give the opening balance information (quantity, rate, value, applicable tax rates) so that you can record transactions faster and avoid having to enter all of this information into each transaction.