SIMPLE INVOICING INTEREST CALCULATION
When a
trader sales goods to any party on credit basis then he charges interest on the
outstanding balance.
If the party
refunds cash by instalment, then the trader charges same interest on all
instalments. It is called simple invoicing interest calculation.
Example:-
Ram sold 3
pieces of HCL Computer to Arun for Rs. 10,000 each on credit basis. He decided
to divide the total amount in three instalments and charge 5 % interest on it.
Maintain the
above transaction.
To maintain:-
Create a
company and then activate bill wise details, interest calculation and
debit/credit note as follow:-
To Activate Bill Wise Details, Interest
Calculation and Debit/Credit Note: - G.O.T. (Gateway of Tally)--> Press F11 (Company Features)--> Press F2 (Inventory Features).
Now create
ledger:-
Path for ledger creation: - G.O.T. (Gateway of Tally)--> Accounts Info--> Ledger--> Create (Single).
Now create
stock master:-
To Create Stock Group: - G.O.T. (Gateway of Tally)--> Inventory Info--> Stock Group--> Create.
To Create Stock Item: - G.O.T. (Gateway of Tally)--> Inventory Info--> Stock Item--> Create.
Now do
voucher entry as follow:-
Path for voucher creation: - G.O.T. (Gateway of Tally)--> Inventory Voucher--> Press F8 (Sales Voucher).
And then
press F12 for configuration as follow:-
And now do
the voucher entry.
Press F6 to
open Receipt Voucher.
When the
voucher opens, press F2 and change the date as given below:-
And then
press “enter” and fill the voucher.
Accept the
voucher and again press F2 and change the date.
Accept the voucher and again change the date by pressing F2 key.
View the
ledger interest of Arun as follow:-
Path for view interest calculation: - G.O.T. (Gateway of Tally)--> Display--> Statement of Account--> Interest Calculation--> Ledger--> Arun.
Now create
voucher type as follow:-
Path for voucher type creation: - G.O.T. (Gateway of Tally)--> Accounts Info--> Voucher Type--> Alter.
When you
will press “enter” key on “Alter”, a list of voucher types will be open. You
will select there “Debit Note” as follow:-
Press
“enter” key on “Debit Note” and a form will open, fill as follow:-
Press
“enter” after filling the name of class and then as follow:-
Press “enter”.
Accept the
voucher by pressing “enter” key or “y”.
Now again do
voucher entry:-
Now do
voucher entry as follow:-
Path for voucher creation: - G.O.T. (Gateway of Tally)--> Inventory Voucher--> Press Ctrl + F9 (Debit Note
Voucher).
Press
“enter” on “Interest Receivable” and the voucher will be opened as follow:-
Accept the
voucher.
After that,
press F6 to open Receipt Voucher:-
Now view the
ledger interest of Arun:-
Path for view interest calculation: - G.O.T. (Gateway of Tally)--> Display--> Statement of Account--> Interest Calculation--> Ledger--> Arun.
You can see
that the ledger interest of Arun is blank. It shows that all the instalments
have been paid.
