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Debit Note and Credit Note in Tally ERP9

In simple words about Debit and Credit notes, when there are purchase returns and sales returns in any business, debit note used for purchase returns and credit note used sales returns.

 

Example, ABC Company sold goods worth of Rs.50,000 to XYZ Company, After checking the goods, XYZ company has returned damaged goods worth of Rs.20,000 to ABC company. Here XYZ Company issue debit note to ABC Company.

 

 

Debit Note in Tally ERP9

 

This note will use for purchase returns, it is issued by a buyer to a seller debiting to his account and requesting for credit note.

 

 

How to Activate Debit Note and Credit Note in Tally ERP9

 

Path: Gateway of Tally -> F11 Features -> Accounting Features

 

Use debit and credit notes: Yes

 

 

 

Example

 

ABC Company has purchased 6 HP Computers from Ram Enterprises worth of each is Rs. 45,000 with GST@18% (CGST@9% and SGST@9%).

 

 

Entry

 

HP Computers  Dr  2,70,00

 

CGST Dr  24,300

 

SGST Dr  24,300

 

To Ram Enterprises  3,18,600

 

 

ABC Company has returned damaged 3 Dell Computers to Ram Enterprises, here you should post the below debit note entry in Tally debiting to supplier A/c and crediting to HP Computers.

 

 

Debit Note Entry in Tally ERP9

 

Ram Enterprises Dr  1,06,200

 

To HP Computers  90,000

 

To CGST  8,100

 

To SGST  8,100

 

 

 

 

 

Credit Note in Tally ERP9

 

This note will use for sales returns, it is issued by a seller to buyer in different situations informing that his account is credited.

 

Example: ABC Company has sold 8 Dell computers to Rajesh & Co each@ Rs.55,000 with GST@18% (CGST@9% and SGST@9%).

 

 

Entry

 

Rajesh & Co Dr  5,19,200

 

To Dell Computers  4,40,000

 

To CGST  39,600

 

To SGST  39,600

 

 

Rajesh & Co has returned 2 damaged Dell Computers to ABC Company, here you should record the below credit note entry.

 

 

 

Credit Note Entry in Tally ERP9

 

Dell Computers Dr  1,65,000

 

CGST Dr  14,850

 

SGST Dr  14,850

 

To Rajesh & Co  1,94,700

 

 

 

 

 

 

Related Topics

 

Recording of GST Intrastate Sales in Tally ERP9

 

GST SEZ Sales in Tally ERP9

 

Recording of GST Local Purchases in Tally ERP9

 

 

 

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