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Entries in tally ERP 9

17 November 2019

Mahesh & co Purchased a Computer from Techno Systems in Credit as per Invoice No:TSGST/0234/2019.Details are given below Taxable Value ₹ 45000/-,CGST @ 9% ₹
4050 /-and SGST @ 9%
₹4050/-.One month later Techno Systems issued a Credit note to Mahesh& Co as follows Credit note No.CRN2019/156 Taxable Value ₹ 5000/- and CGST & SGST @ 9% each ₹ 450/-.How to pass Purchase entry and Credit note entries in tally ERP 9.Please give the detailed demonstration.

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RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

What Reason for the Credit Note...?

prasad Nilugal ( GST Practitioner & Accounts ) (14151 Points)
Replied 17 November 2019

In Tally Erp 9 in F7 pass J.E for Purchase of Computer in the books of Mahesh & co

Put Invoice no & date

1) Computer A/c Dr 45000

Input CGST A/c Dr 4050

Input SGST A/c Dr 4050

To Techno System A/c Cr 53100

( Being purchase of computer vide invoice no -- Dt --- )

you want credit note entry in CLTR 9 in Tally Erp ,May be for price or other reasons will be in books of Techno System

2) Sales Return A/c Dr 4500

CGST A/c Dr 450

SGST A/c Dr 450

To Mahesh & co A/c 5400

( credit note vide note --- dt --- against invoice no ----dt ---)

1 Like

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

@ my dear Mr Prasad Nilugal...

Can You recheck Your reply with purchase entry to CN entry...?

Without credit note reason then How you reply into SALES RETURN...?

Is it SALES RETURN or PURCHASE RETURN...?

If it's PURCHASE RETURN (or SALES RETURN as per You) then Why you account the same (purchase) under Computer Account...?

1 Like

subhagan sreerangam (7039 Points)
Replied 17 November 2019

Reason mentioned in Credit note is ₹ 3000/- for Sales Discount and ₹ .2000/- for Others.

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

Are You purchased the Computer for sales or using your business...??

prasad Nilugal ( GST Practitioner & Accounts ) (14151 Points)
Replied 17 November 2019

Sales return for Techno & co ( credit Note ) and Purchase for Mahesh &co because Credit note will only be prepared by Techno& co and as per query credit Note is issued by Techno & co .

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

Dear Mr Prasad Nilugal...

Here I'm not asking where/Who issued the notes...

as per Your said accounting entry the purchase posted in computer ledger then Why it's not debit same to computer ledger...?

As per Your reply it's under computer then debit note (credit note from supplier) accountability into computer head only...

Am I right...?!

subhagan sreerangam (7039 Points)
Replied 17 November 2019

Sales for Customers..

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

If the said transactions for Purchase and Sales process then Not accountable in Computer head (as FA). In case they will maintain stock wise details and process then they will account in Computer (as stock ledger).

Otherwise it's acceptable under purchase account and Purchase return also reversible in purchase account...

If computer account (as stock) then it's reversible on the same head or PandL account as income (discount received)

subhagan sreerangam (7039 Points)
Replied 17 November 2019

Here is no Puchase Return.The buyer Purchased only one Computer with Taxable Value ₹ 45000+18% GST.The Seller dealer issued a Credit note for Price difference ₹ 2000+Discount ₹ 3000.

1 Like

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

Hello...
Ask Your query with details without confusion h Confusing......

The Computer for office use or sale by purchaser...

subhagan sreerangam (7039 Points)
Replied 17 November 2019

Computer purchased for Sales .

RAJA P M ("Do the Right Thing...!!!") (127058 Points)
Replied 17 November 2019

Just reverse the Rate difference to purchase account...

Discount amount entered to PandL account Discount Received ledger (under indirect income)...

1 Like

subhagan sreerangam (7039 Points)
Replied 17 November 2019

Dear Rajaji Sir .The following entries are correct or false confirm it.
STEP-1
Purchase Account
Cr - Techno Systems ₹.53100
Dr- Computer Purchase ₹.45000
Dr - CGST @ 9% ₹ .4050
Dr- SGST @ 9% ₹ 4050
STEP-2
in debit note entries as follows
Dr- Techno System ₹ 5900
Cr- Computer Purchase Ac ₹ 5000
Cr- CGST @ 9% ₹ 450
Cr- SGST @ 9% ₹ 450

Total Taxable Value of Computer = ₹ 45000-5000=₹ 40000
Total CGST =₹ 4050-450= ₹ 3600
Total SGST= ₹ 4050- 450 =₹ 3600
Total Credit of Techno Systems = (45000-5000) + (4050-450) +(4050-450)= 40000+3600+3600= 47200.

1 Like