Sometimes after purchase of goods there are chances that some of the purchased goods are damaged or there is a shortage in the quantity of goods delivered. However, during the purchase the importer has already incurred a tax. Similarly during sales too such instances occur. In these cases, the incurred tax should be reversed. This can be recorded in Tally.ERP 9 using a journal and such an entry is called adjustment entry.
To record a journal voucher to account for loss or damage of goods
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
2. Click J : Stat Adjustment to view the Stat Adjustment Details screen.
3. Select the Type of Duty/Tax as Excise .
4. Select the Tax Unit from the list.
Tax Unit option appears only when one or more user defined Tax Units are created by linking it to godown.
5. Select the Nature of Adjustment as Shortage/Damage/Loss of Excise Stock .
The completed Stat Adjustment Details screen appears as shown below:
6. Debit the expense ledger (grouped under Direct Expenses , Is Excise Applicable is set to Not Applicable ).
7. Enter the amount.
8. Credit the purchase ledger to reverse the purchase cost.
9. Press Enter to view Inventory Allocations screen.
10. In the Inventory Allocations screen, select the name of the item.
11. Press Enter to view the Supplier Details screen.
To provide supplier details
Select the p urchase bill against which the goods are lost or wasted.
Enter the quantity of item which is lost or destroyed in Quantity Utilised column.
Press Enter to save.
12. Provide the details.
13. Enter details in Stock Item Allocations screen.
In the Stock Items Allocations screen:
Select the Godown .
Enter the Quantity of goods lost/wasted.
Enter the Rate at which the goods was purchased. Amount will be calculated and displayed automatically.
14. P ress Enter . The item details are displayed in Inventory Allocations screen.
15. Press Enter to accept.