You can record a credit note, for issue to buyers, to record sales returns. A credit note can be offset by the buyer against future purchases.
To create a credit note for taxable goods
1. Go to Gateway of Tally > Accounting Vouchers > Crl+F8.
2. Enter the reference number in the Ref. field.
3. Select the 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. In the Sales Details screen,
o Enter the Original sale value.
o Press Enter to return to credit note.
Note: The Sales Details screen appears when Sales Taxable is selected as the nature of transaction in sales ledger or in the transaction.
8. Select the required common VAT ledger.
9. Set the option Provide VAT Details? to Yes. In the Statutory Details screen,
o Select the Nature of Return.
o Enter the Original inv. no. and Date.
Note: If these are entered in the Original Invoice No. and Date fields of credit note, the same is displayed here.
o Select the Point of Sale.
o Press Enter to return to credit note.
The credit note appears as shown below:
10. Press Enter to save.