To create a Credit Note for Goods Sold Returned,
Go to Gateway of Tally > Accounting Vouchers > Ctrl+F8: Credit Note
Enter the reference number in the Ref field. The invoice date will automatically be entered in the Date field and this can be changed if required.
Select the Party’s A/c Name from the List of Ledger Accounts.
Select the required Sales Ledger and the appropriate VAT /Tax Class appears.
Select the Name of Item from the List of Items.
Enter the Quantity and Rate. The amount is automatically displayed in the Amount field.
Similarly, select another item and enter the Quantity and Rate. The amount will be automatically calculated and displayed.
Select the required supplementary duty ledger with the appropriate VAT/Tax class.
Select the Output VAT ledger from the List of Ledger Accounts.
Enter the details in the field Narration, if required.
Press Y or Enter to accept and save.
Note: The value of goods returned through a credit note using the VAT/Tax Class - Sales @ 15% will be captured in Box 1, 3, 6 and 9 of MUSAK–19. The output VAT reduced from such sales will be captured in Box 22 under Final Accounts section also in box 16, 19 and 22 of MUSAK–19.
The narration of the entry with output VAT amount will be displayed in Annexure MUSAK–18.
Press Page Up key to view the debit note in alteration mode and press the Print button or use the key combination Alt+P to print.
Press F12: Configure button and in the Invoice Print Configuration, set the option Print in Tally Default Format to NO to print the invoice in the format of MUSAK-12.
Press Enter to print the voucher.
The print preview of debit note printed in the format of MUSAK 12 appears as shown:
'Credit Note for Sales Returns' has been shared with
