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 for each stock item.
8. Select the common VAT ledger.
Ledger must be grouped under Duties & Taxes in which the options:
● Type of duty/tax is set to VAT .
● Percentage of Calculation is set to 0.
9. Set the option Provide VAT Details to Yes , and select the Nature of Return as shown below:
Select Not Applicable for sales returns. for cancellation of sales or change in consideration, select the relevant Nature of Return .
10. Press Enter to return to credit note. The credit note appears as shown below:
11. Press Enter to save.
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