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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