Introduction to Purchase Entries in Tally
- Making purchase entries in Tally is essential for accurate inventory management and accounting.
- This guide provides a clear, step-by-step approach, ensuring you can efficiently make entries whether you are using TallyPrime or Tally.ERP 9.
Step 1: Enable Inventory and Purchase Features
- Before you can record purchase entries, you need to enable specific features in Tally.
- Navigate to the Gateway of Tally and press F11 to access the features menu.
- Within the Accounting Features section, set “Integrate Accounts with Inventory” to Yes.
- If you’re using purchase orders, ensure that “Enable Purchase Order Processing” is also set to Yes.
- In the Inventory Features section, set “Maintain Stock Items” to Yes.
Step 2: Create Necessary Masters
- Once the features are enabled, you can create the necessary accounting masters.
- Start by creating a supplier ledger.
- Go to: Gateway of Tally > Accounts Info > Ledgers > Create. Enter a name such as “XYZ Traders” and choose the appropriate category like “Sundry Creditors.”
- Next, create a purchase ledger titled, for instance, “Purchase @18%” and ensure GST is applicable if required.
- Lastly, create a stock item by navigating to Inventory Info > Stock Items > Create, and fill in the necessary details.
Step 3: Record the Purchase Entry
- To begin recording your purchase entry, go back to the Gateway of Tally and select Vouchers, pressing F9 or clicking on the purchase voucher.
- Choose your voucher mode based on whether you’re using an item invoice or accounting invoice. Fill in the details such as:
- Party A/c Name: Select your supplier
- Purchase Ledger: Select your created purchase ledger
- Item Details: Name of the item, quantity, rate, and amount
- Lastly, if applicable, specify tax ledgers and press Ctrl + A to save your entry.
