Sales Process in TallyPrime
Sales is a key business process that helps you record the sale of goods and services, manage customer orders and deliveries, receive payments, and track returns and adjustments. In TallyPrime, you can record sales based on your business requirements, whether you sell goods or services, receive payment immediately or later, offer discounts or free items, or need to account for additional charges. You can also manage sales orders and deliveries, handle specialised sales processes such as consignment and point-of-sale transactions, and track sales and collections for salesperson commissions.
Once sales transactions are recorded, you can use the available reports to track sales, identify pending transactions, analyse outstanding Sales Orders, compare sales orders across periods, and review the status of your sales activities.
Different Types of Sales
In TallyPrime, you can record sales of goods and services using different voucher modes based on your business requirements. You can record cash and credit sales, and configure the Sales voucher to capture the details required for your transactions.
When you need to track sales under different accounting heads, you can allocate separate Sales Ledgers to different stock items.
If you receive payment from a customer before recording the sale, you can record the sale against an advance receipt.
You can also record sales with discounts when offering a reduction in the selling price, or record sales with free items when you provide additional goods without charging the customer. If you sell a business asset, you can record the sale of fixed assets and account for the resulting profit or loss.
Sales Orders and Delivery
You can record Sales Orders to capture customer requirements before fulfilling the order and track the quantities that are yet to be delivered. Once the goods are ready for dispatch, you can record Delivery Notes to track the goods delivered to the customer. You can also record a Delivery Note against a Sales Order to track the quantities delivered against the order.
When an order or its remaining quantity is no longer required, you can also pre-close Sales Orders from Day Book, Delivery Note and reports and record the quantity and reason for pre-closure.
Consignment Sales
Consignment is a business arrangement in which goods are sent to an agent or third party for sale on your behalf, while ownership remains with you until the goods are sold. In TallyPrime, you can record consignment sales as Principal or consignment sales as Agent perspective, track the movement of goods between parties, record sales, receipts, payments, and returns, and use godowns to track consignment stock separately.
Salesperson Commission
If your business calculates salesperson commission based on sales or collections, you can record sales and collections for salesperson commission. You can record sales made by salespersons and the collections received from customers to track the transactions relevant for commission calculation.
Point of Sale (POS) Transactions
For businesses that make sales directly to customers at a retail counter, you can record Point of Sale (POS) transactions using a POS voucher. You can record sales using different payment modes and use barcode-based stock item selection where applicable. Once the transaction is recorded, you can view the transaction in the POS Register to review the POS invoices.
Sales with Cost Centre
If your sales involve additional charges, such as transportation or packaging, you can record sales and track such charges separately by allocating them to Cost Centres.
Sales with Multi-Currency
If your business exports goods, you can record sales in foreign currencies by defining the required currency and its exchange rate. This helps you record transactions in the agreed currency and account for their value in your base currency.
Sales with Standard Price
If you sell stock items at predetermined rates, you can define a Standard Selling Price for each item, along with the date from which the rate is applicable. TallyPrime automatically picks up the applicable rate based on the stock item and voucher date when you want to record sales with standard selling price.
Sales with Price List and Price Level
If you offer different selling prices and discounts to customer categories such as Wholesalers, Retailers, or Dealers, you can create Price Levels and define the corresponding prices and discounts for stock items in Price Lists. You can also assign a Price Level to a party ledger so that the applicable pricing is selected automatically when you record sales. Based on the selected Price Level, TallyPrime picks up the corresponding rate and discount while recording the sales transaction with price list.
Sales Returns and Increase in Sale Value
Customers may return goods or services after a sale due to reasons such as damage, quality issues, late delivery, or excess supply. You can record sales returns using Credit Notes and adjust the returned amount against the customer’s outstanding balance. You can also record a sales return before or after receiving payment from the customer, depending on the situation.
If the value of a previously recorded sale needs to be increased because of an incorrect rate or a subsequent change in price, you can record an increase in sale value using a Debit Note.
Sales Reports
You can view the Sales Register to review sales transactions for different periods and drill down to individual sales vouchers. You can also analyse sales profitability and extract sales transaction details when required.
If you record POS transactions, you can view the POS Register to review the POS invoices and their details. Similarly, you can view the Credit Note Register to review Credit Notes recorded for sales returns.
To identify incomplete sales transactions, you can view and track Sales Bills Pending. The report helps you identify transactions where goods have been delivered but the corresponding sales invoice has not been recorded, as well as transactions where invoices have been recorded but goods have not yet been delivered.
You can also view Sales Order Outstandings to track orders that are yet to be fulfilled. These reports help you review pending quantities and order details at different levels.
For a broader view of Sales Orders, you can view the Sales Orders Book to review the Sales Orders recorded for different periods. You can compare Sales Orders created daily, weekly, monthly, or for other periods to track pending and completed orders.
If you have opted for Edit Log, you can view Edit Log to track all the activities such as the creation, alteration, and deletion of sales invoices.
While recording sales transactions, if the invoice value includes decimal amounts due to item rates, discounts, or tax calculations, you can round off invoice and ledger values to simplify the amounts displayed in your invoices and financial statements.
