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.
