When doing sales returns create credit notes against the original invoice.
To create a credit note for taxable goods
1. Go to Gateway of Tally > Accounting Vouchers > Crl+F8: Credit Note.
2. Enter the Original Invoice Number of sales invoice against which credit note is recorded.
3. Select the required Party’s A/c Name from the List of Ledger Accounts.
4. Enter the required details in Party Details screen.
5. Select the common sales ledger in Sales Ledger field.
6. Select the required taxable stock item.
7. Enter the Quantity and Rate.
8. Select the required common VAT ledger.
The ledger must be grouped under Duties & Taxes in which the options:
1. Type of Duty/Tax is set to VAT.
2. Percentage of Calculation is set to zero.
9. Set the option Provide VAT Details to Yes to open Statutory Details screen. The credit note screen appears as shown below:
In the Statutory Details screen,
1. Select the required Nature of Return.
2. Enter Original inv. no. and Date.
3. Press Enter to save.
10. Press Enter to save.
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