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Debit Note and Credit Note

The document discusses purchase and sales transactions with VAT adjustment and returns. It includes purchasing 10 CPUs for Rs. 2000 plus 4% VAT, selling 10 CPUs for Rs. 3500 plus 4% VAT, returning 3 CPUs to the supplier due to a fault, and returning 1 CPU to the customer due to damage. It provides instructions on passing the necessary accounting entries using debit notes and credit notes to record the returns and show the VAT adjustment report.

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4K views1 page

Debit Note and Credit Note

The document discusses purchase and sales transactions with VAT adjustment and returns. It includes purchasing 10 CPUs for Rs. 2000 plus 4% VAT, selling 10 CPUs for Rs. 3500 plus 4% VAT, returning 3 CPUs to the supplier due to a fault, and returning 1 CPU to the customer due to damage. It provides instructions on passing the necessary accounting entries using debit notes and credit notes to record the returns and show the VAT adjustment report.

Uploaded by

anon_332603071
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Purchase And Sales return With Vat Adjustment

A. Purchase 10 Piece CPU @ Rs. 2000/- +Vat @ 4% from Amit Enterprise


B. Sold 10 Piece CPU @ Rs. 3500/- +Vat @ 4% to Deepak
C. Return to 3 Piece CPU to Amit Enterprise Due To Technical Fault
D. Return from Deepak 1 Piece CPU Due To Damage

 Pass The Necessary Entry To Show The Vat Adjustment Report And Do The Needful.

1. Pass Purchase Voucher


2. Pass Sales Voucher

 For Purchase Return And Sales Return We Use Debit Note And Credit Note.

How to Activate Debit Note and Credit Note on Your Company?

1) Gateway of Tally------ Press F11------- Accounting Features---


a) Use Debit/Credit Notes:- Yes
b) Use Invoice Mode For Credit Notes:- Yes
c) Use Invoice Mode For Debit Notes: - Yes And Save It.

After That Go To Accounting Voucher and Pass Purchase And


Sales Voucher And Then Press Alt+F9 For Debit Notes And
Ctrl+F8 For Credit Notes

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