To account for difference in sales value due to price escalation, record a debit note with the nature of return as Escalation in Price.
To account for difference in sales value due to price escalation
1. Go to Gateway of Tally > Accounting Vouchers > Crl+F9: Debit.
2. Press Ctrl+V to switch to the voucher mode.
3. Enter the Original Invoice No.
4. Enter the Date of the voucher.
5. Debit the required party ledger by entering the amount.
6. Credit the sales ledger by entering the item details and amount.
7. Enter the original price of the purchase in Original sale value.
8. Credit the input VAT ledger.
9. Credit the input surcharge ledger.
10. Enable Provide VAT Details? and select Escalation in Price as the Nature of Return in the Statutory Details screen.
11. Enter details in the field Narration, if required.
The completed transaction appears as shown below:
12. Press Enter to accept and save the debit note.
Note: Similarly, to account for difference in purchase value due to price escalation, record a credit note with the nature of return as Escalation in Price.
To account for difference in sales value due to a decrease in sale value of goods, record a credit note with the nature of return as De-Escalation in Price.
To account for difference in sales value due to price de-escalation
1. Go to Gateway of Tally > Accounting Vouchers > Crl+F8: Credit Note.
2. Press Ctrl+V to switch to the voucher mode.
3. Enter the Original Invoice No.
4. Enter the Date of the voucher.
5. Credit the required party ledger.
6. Debit the required sales ledger.
7. Enter the original price of the sales in Original sale value.
8. Debit the required output VAT ledger.
9. Debit the required output surcharge ledger.
10. Enable Provide VAT Details? and select De-Escalation in Price as the Nature of Return in the Statutory Details screen.
11. Enter details in the field Narration, if required.
The completed transaction appears as shown below:
12. Press Enter to accept and save the credit note.
Note: Similarly, to account for difference in purchase value due to a decrease in purchase value of goods, record a debit note with the nature of return as De-Escalation in Price.