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ABHINANDAN JAIN (CA Student)     21 September 2011

Effect in tally for sales return

If there is sales return , then wht are the adjustments that we need to give in our accounts maintained in Tally.

I mean if sales were returned by the customer, then ofcourse we pass a reverse entry. but then how we adjust the stock.

Whether it will automatically add up the stock in the stock summary or we have to go the stock summary section in Tally and add up the stock

Also whether it will be added with Inwards or outwards...pls anyone solve my problem regarding Tally ...



 7 Replies


(Guest)
Originally posted by : ABHINANDAN JAIN

If there is sales return , then wht are the adjustments that we need to give in our accounts maintained in Tally.

I mean if sales were returned by the customer, then ofcourse we pass a reverse entry. but then how we adjust the stock.

Whether it will automatically add up the stock in the stock summary or we have to go the stock summary section in Tally and add up the stock

Also whether it will be added with Inwards or outwards...pls anyone solve my problem regarding Tally ...

there is no need to pass the adjustment entry for stock. when pass entry in credit note it will automatic update stock summary.

venkat

venkat (Accountant)     21 September 2011

Dear Friend,
If sale return by customer,then you have to pass credit not in tally as invoice mode(right side corner below)First press F11 and set the option use credit not for invoice options and create sale return ledger under sale group,then pass credit note entry
 sale return a/c Dr.
    Party a/c
  The return will automatically added to stock,don't need to pass stock entry and party's a/c debited

1 Like
ARUN KUMAR

ARUN KUMAR (Financial Consultant )     21 September 2011

AGREE WITH VENKAT

Ateeq

Ateeq (CA - Final)     21 September 2011

Agree with venkat.

ABHINANDAN JAIN

ABHINANDAN JAIN (CA Student)     21 September 2011

I want to know whether the Inwards and Outwards which are reflecting in Stock summar will exactly tally with the amount to be shown in the P/L A/c for Purchases and sales respectively.

Problem is:

A sales return by customer (say A) say on 01-04-10 and on 30-04-11 that stock as again sold to other customer say (B).  Value of the sales return and subsequent sales was of same value i.e20000

Sales A/c was debited and for sales Sales acct was credited.

When sale return was happened, the Inwards of stock summary is automatically added and thereafter when sale is made the outward section also get inflated. But the total figure of Inwards and Outwards is being shown in Purchases and Sales in the P/L A/c is not matching.


So i want to know whether the figure showing in Stock summary will exactly matched with the figure showing in the Trial Balance or P/L A/c,......?

Ateeq

Ateeq (CA - Final)     22 September 2011

There should not be any difference, unless proper entries are passed with respect to the stock movement, the entries of purchase, purchase returns, sales and sales returns are properly affecting the inventory. Just scrutinize the entries and check whether the effect of purchases and sales are proper with respect to the inventories.

mis128

mis128 (s)     20 December 2014

.


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