Published on March 3, 2014
the ROUND OFF feature of Tally ERP 9
Automatic Rounding is a very useful feature in Tally ERP 9, helps to speed up Sales and Purchase transactions. Apart from these two vouchers Auto Rounding can be used in voucher types like Credit note, Debit note, Delivery note, Receipt note etc.
How/When to use Round off ?
Rounding off is the adjusting of smaller fractions of amount (Eg: paisa) to it’s nearest bigger value (Rupees). The Rounding could be ➢ Upward Rounding ➢ Downward Rounding ➢ Normal Rounding
Example ➢ Rs 10.55 rounded off to Rs 11 (upward rounding) ➢ Rs 10.55 rounded off to Rs 10 (downward rounding)
In accounting we can treat Rounding either as an income or an expense. If Round off ledger shows a debit balance it is an expense to the business, if it shows a credit balance it can be treated as income. Finally used in profit and loss account for profit calculation at the end of the financial year. Hence create a Round off ledger under indirect income or indirect expense, the normal procedure of treatment of Round off in Tally ERP 9.
Automatic Round off in sales voucher At first we should create a ledger namely Round off under indirect expense or indirect income.
Creating Voucher class The second step is to create a voucher class; Voucher class has several uses in Tally accounting. To create voucher class Go to ➢ Gateway of Tally >> Accounts info >> Voucher Types >> Alter
Select Sales voucher and press Enter, in the voucher type alteration screen, continue to press enter until you reach “Name of class” Type a voucher class name there; Let’s type name “Retail”
Under Additional accounting entries Ledger Name: Round off (select the ledger we have created at the beginning) Type of calculation: Select “As total amount rounding”. There are several rounding calculations available like As Flat rate, as additional exercise, as surcharge, as user defined value, based on quantity, on current subtotal, on item rate, on Total sales etc.
Press Enter, you will get a new screen, called “class screen” In the class screen press enter and under Default accounting allocations for each item invoice Ledger name: select any sales ledger here Sale Percentage: 100%
Rounding method: Three rounding method available, Normal, Downward and upward. Let’s select “Normal rounding” rounding Rounding Limit: You can set a limit for rounding, the maximum limit to which an amount is to be rounded. This may be up to Rs 1, Rs 10, or Rs 50 Etc. The setting depends on the decision of management. Set the limit Rs 1 here. Remove if zero: Yes The final screen will look like
Press Enter and save the screen; save the voucher type alteration screen also. Now enter a sales transaction Crocodile T shirt XL sold for Rs 699.99 Go to Gateway of Tally >> Accounting Vouchers >> Sales Press F8 or click on sales button to have the sales voucher screen. Tally ERP 9 will ask to select the voucher class to be used for the entry with voucher class list. See image below
Select newly created voucher class “Retail” You can see a round off ledger already existing in sales voucher, see the image.
Put the entry of the transaction Crocodile T shirt XL sold for Rs 699.99 Immediately after entering Quantity and Rate, the Round off amount will be calculated automatically, according to the method chose. See the below image
Presentación que realice en el Evento Nacional de Gobierno Abierto, realizado los ...
In this presentation we will describe our experience developing with a highly dyna...
Presentation to the LITA Forum 7th November 2014 Albuquerque, NM
Un recorrido por los cambios que nos generará el wearabletech en el futuro
Um paralelo entre as novidades & mercado em Wearable Computing e Tecnologias Assis...
1. the ROUND OFF feature of Tally ERP 9. 2. Automatic Rounding is a very useful feature in Tally ERP 9, helps to speed up Sales and Purchase transactions.
How to use Tally erp 9 an ... Automatic rounding is very useful feature in tally, automatic rounding off will helps to ... How to treat round off in tally?
how to set automatic rounding off in tally ERP9,What is rounding off ,types of rounding off , the method to create round off in tally explained ...
Tally.ERP 9 discharges the functions of an inventory ... • Use multiple ... this feature allows finalisation of financial books without ...
CONNECTION WITH THE USE OF OR INABILITY TO USE THE ... Implementation of Value Added Tax in Tally.ERP 9/Release ... Features of VAT in Tally.ERP 9 ...
This video clip describes how to work Tax Invoice & Retail Invoice in Tally www ... Tally.ERP 9 in Hindi ( Use Optional ... Off History Help ...
Your browser does not support frames. We recommend that you update your browser to a version that supports frames. To view the Help system without frames ...