Debit and Credit Note in Tally Prime

Create Debit and Credit Note in Tally Prime, Computer Training Notes with example. The best tally Notes to explain the creation of Debit Note ( Purchase Return) and Credit Note (Sales returned) in Tally Prime.

What is Debit and Credit Note : A debit note is generally issued in the event of purchase returns (return outward) whereas a credit note is issued in the event of sales return (return inward).

Create Ledger: Gateway of Tally > Create > Ledger   

Ledger NameUnder
Computer Traders Sundry Creditors
PurchasePurchase Accounts
Sudhakar Kumar Sundry Debtors
SalesSales Accounts

Create Stock Item :  Gateway of Tally > Create > Stock Items

Item NameUnderUnits
MouseComputerPcs
KeyboardComputerPcs

Purchase : Gateway of Tally >Vouchers > Purchase F9

Purchase No. 1 Supplier invoice no : 001
Party A/c Name :Computer Traders (Sundry Creditors)
Purchase ledger : Purchase
Name of Item                                     Quantity         Rate    Per                  Amount
Keyboard                                                         25 Pcs  125  Pcs                         3125
Mouse                                                             25 Pcs  110  Pcs                         2750 
50 Pcs 5875

Purchase Return : Create Debit Note

Few purchase items are found defected and returned to supplier

2 Keyboard and 5 Mouse are defected and to be return back to (Purchase Return)
We have to Create Credit Note of Returned items.

Steps to Create Debit Note in Tally Prime

GOT->Display more reports->Account Book -> Purchase Register ->Voucher Register
Look for Purchase voucher of party, whom the material is being returned. In this case Computer Traders is Supplier.
Select the Computer Traders

Create Duplicate Voucher in Tally Prime

Press Alt + 2  (To create duplicate voucher)
Accounting voucher creation (Duplication)
F10: Other Vouchers > Debit Note (Alt+F5)

Accounting Voucher Creation (Duplication)  
Debit Note No. 1
Party A/c Name :Computer Traders
Ledger Account : Purchase
Name of Item                                     Quantity         Rate    Per                  Amount
Keyboard                                                         2 Pcs    125  Pcs                       250 Mouse                                                             5 Pcs    110  Pcs                       550       

Make Change in Voucher for only Quantity column ( returned quantity in place of original purchase quantity)

Debit and Credit Note in Tally Prime

Check the Debit Notes  

Gateway of Tally> Display more reports> Accounts Book > Debit Note Register
Further, we can check Outstanding Payable
Gateway of Tally > Display more reports > Statement of Accounts > Outstanding > Payable

Sales :Gateway of Tally > Vouchers > Sales F8

Sales No. 1
Party A/c Name :Sudhakar Kumar ( Sundry Debtors )
Sales ledger : Sales
Name of Item                                     Quantity         Rate    Per                  Amount
Keyboard                                                         10 Pcs  160 Pcs                        1600                                                               

Sales Return : 2 keyboard  are defected and party returned back (Sales Return)

Sales Return : Create Credit Note

Gateway of Tally>Display more Reports>Account Book >Sales Register >Voucher Register
Look for Sudhakar Kumar Sales voucher (for Sales return)

Create Duplicate Voucher

Press Alt + 2  (To create duplicate voucher)
Accounting voucher creation (Duplication)
F10: Other Vouchers > Credit Note (Alt+F6)

Accounting voucher creation (Duplication)
Credit Note No. 1
Party A/c Name : Sudhakar Kumar
Sales Ledger : Sales
Name of Item                                     Quantity         Rate    Per                  Amount
Keyboard                                                         2 Pcs    160 Pcs                        320                                                                         2 Pcs                                        320

Change Quantity received back from party  (Other information remain same)

Check the Credit Notes  

Gateway of Tally> Display more reports> Accounts Book > Credit Note Register
Further, we can check Outstanding Receivable
Gateway of Tally > Display more reports > Statement of Accounts > Outstanding > Receivable

Tally Prime Notes : Topic Wise

Leave a Comment

Your email address will not be published.

error: Content is protected !!