Merchandise/goods are returned by the buyer to the seller, usually for one of the following reasons:Īfter accepting the sale returns, they are recorded as credit notes. When the returned goods are accepted, this transaction can be recorded using Tally's credit note feature, either before or after receiving payment for them. The Credit note is the primary document used as evidence when recording transactions in the sales returns ledger.Īfter selling the products, if the customer returns all or some of the goods, the sales return needs to be accounted for. In other words, it is the record of the products that are returned by the receiver. Sales Return or Credit NoteĪ Return Inward Journal, also known as a sales returns journal or a sales credit daybook, is a primary entry book or a daybook used to record sales returns. ERP 9 is a product that offers complete business functionalities such as Finance, Accounting, Inventory, Point of Sales, Sales & Purchase, Manufacturing, Payroll, Costing, and Branch Management, as well as compliance capabilities for TDS, TCS, Excise and also GST.
It is an outstanding business management system and GST software that combines control, function, and built-in customizability. It is a complete enterprise software for small and medium-sized businesses.
You can take advantage of the ease of central user and password management that Tally.NET identities carry – and even remotely manage these while not in office.Tally ERP 9 (ERP stands for Enterprise Resource Planning) is India's most widely used accounting program. You might also have a password policy requiring users to change passwords every few weeks. You choose which remote users have access you decide what access a remote user gets.Ĭentral User Management: Users come and go. Remote Access: You choose to specify which company is accessible remotely. You can set up users, grant or deny access – and these are defined for each company. Security: With multiple companies, possibly including personal accounts, you may need to control who gets access to which companies, and to do what. In special circumstances, where there are needs like a Purchase Order entry becoming a Sales Order in another company, our Service Partners will be able to work with you, understand specific requirements and build a solution around the Data Synchronisation capability. This can be accomplished with the click of a few keys – you save immense time by not having to re-enter data and avoid data entry errors. Quiet often with multiple companies, the need arises to create the same ledgers & post transactions to more than one company. You can now continue to drill down the report and continue to see these comparisons. In Tally.ERP 9, while seeing a report for Company P, you could pull up another column alongside that shows figures from Company Q (and any more companies). With multiple companies, you would probably need to compare them to see relative figures. So Partner A, could group companies in which he is a partner (say Companies P, Q & R) and Partner B could have a group with Companies Q, R & Y. You could also ‘group’ these on demand or as required. You can therefore ‘group’ companies and have the reporting ability as if this were a ‘company’. Principally, you would like to look at consolidated reports since these are often more meaningful to you than statutory reports of each company individually. However, with multiple companies, several needs often arise beyond the mere facility to record transactions that need to be addressed. Since each company is a distinct data base, building technical support for this is not difficult. Many businesses do have more than one legal entity – and so will require multi-company support. Therefore, if you decide to maintain your personal accounts you would create a ‘company’. A set of account books represents a ‘company’ in Tally.ERP 9.