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 No. 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.
6. Select the required taxable stock item.
7. Enter the Quantity and Rate.
8. Select the required common VAT ledger.
Ledger must be grouped under Duties & Taxes in which the options:
o Type of duty/tax is set to VAT.
o Use for Purchase Tax is set to No.
o Percentage of Calculation is set to zero.
9. Set the option Provide VAT Details? to Yes. The Statutory Details screen appears.
Select the Nature of Return as:
o Not Applicable to account For Returning goods.
o Discount to account For Discounts and Others.
o Others to account For Discounts and Others.
o Issued to account for Returning goods.
o Credit note received to account For Returning goods.
Note: In case of sales price rise, when a debit note is recorded in voucher mode to credit a sales ledger, the option Change in Consideration appears.
10. Select the required Nature of Return and press Enter. The credit note appears as shown below:
11. Press Enter to save.
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