How to record Sales Return transaction in Tally.ERP 9?
In Tally.ERP 9 Accounting Software we can record the Goods Returns received from the customers. First we need to create a Sales Return Ledger account and after that we can use the Credit Note Voucher Type to record the Sales Return transaction in Tally.
When sales made there is possibility of Return Goods, for which we need to pass a Sales Return entry by crediting either Cash Ledger or Debtor Ledger. There must be a sale, prior to the Sales Return. If there is a Sales Return Voucher entry found before a Sales make in the Books of Accounts, then it is the mistake of the Bookkeeper. It is the major point one must keep in mind while accounting the sales return transaction.
Here we are recording Goods Return worth Rs. 2,000 and returning Cash in return. Before going for Voucher Creation, we have to create Sales Return Ledger under Sales Account Group. For the Sales Return transaction there is Credit Note Voucher Type available in Tally.ERP 9. As you credit the Customer Ledger in the books, therefore it is called as Credit Note. If you enter Sales Return (here in Tally Credit Note) of Cash Sales you credit the Cash Ledger otherwise you credit the Customer (Sundry Debtor as usual) Ledger.
For recording the Sales Return with Cash
- Select Accounting Vouchers option under Transaction in Gateway of Tally screen.
- In the Accounting Voucher Creation screen you can see the type of the Voucher opened.
- To change the Voucher Type to Credit Note Voucher Type either, select the Credit Note button available in the Button Area or press Ctrl+ F8 Keys using the Keyboard.
If the Credit Note Button is disabled and not opening the credit note voucher set “Use Debit/Credit Notes” option as YES from “Accounting Features” screen. Find this option in the below screen.
May 7, 2017 @ 5:30 AM
Once, you update the Stock Returns Inventory Value will be updated. Contact your Tally Admin or Expert to assist you. For further clarification contact advice@accountsguy.net
May 7, 2017 @ 5:28 AM
The value of returned stock is not updated in the stocks summary. Only the quantity is updated. This is incorrect business process / programming in the sales return. Only accounting but not inventory management.
May 22, 2017 @ 7:25 AM
When should I create "rejection in" and "rejection out" voucher type. Help me please.
May 22, 2017 @ 7:32 AM
In Tally.ERP 9 the Rejection In and Rejection Out are Inventory Vouchers
Usually, the Rejected In Voucher Type is used for recording the Stocks rejected by the Customer, as usually the Related Out Voucher Type is used for recording the Stocks rejected by you to the Supplier.
June 11, 2017 @ 6:20 PM
In your entry stock values will be effected.
June 11, 2017 @ 6:19 PM
By processing a credit note inventory qty is updated but inventory value remains zero Since the accounting entries happen as under
Credit to cash and debit to sales return ledger. Inventory account is not hit. Ideally there should be a debit to inventory and credit to sales return account to get the value into inventory books. Right