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6.Additional Cost Details in Tally.ERP9

The cost of an item is the rate at which the item is purchased. However, there are other expenses like Packing charges, Freight charges, Cartage incurred, etc. which add to the cost of purchasing the item. Thus, the additional cost details are required to be added to the actual cost of purchase.

 

Let us now see how Tally.ERP 9 handles this requirement.
 

6.1. Activating Additional Cost Details

Batch-wise details are given for maintaining batch information pertaining to stock items. The Manufacturing date and expiry date can also be set for batch wise details.

 

To activate Batchwise Details,

 

Go to Gateway of Tally > press F11: Features (Inventory Features).

 

                    Set Maintain Batch-wise details and set Expiry Dates for Batches to Yes.
Activating Additional Cost Details in Tally.ERP9
 

6.2. Creating Purchase Voucher with Additional Cost Details

Setup :

 

        Create a ledger Stationery House under Sundry Creditors with only the bill-wise details set to Yes.

        Create the following stock items:

 

Name of Item

Under

Category

Units

Maintain in Batches

Stapler

Primary

Not Applicable

Nos

No

Stapler Pins

Primary

Not Applicable

Nos

No

 

 

                    Create  a  new  group  Expenses  on  Purchases  under  the  default  group  Purchase Accounts and select Not Applicable for Method to Allocate when used in Purchase Invoice.

        Create the following ledgers under the newly created group Expenses on Purchases with the option Inventory Values are Affected and Maintain Cost centres set to No.

          Packing Charges on Purchases

         Cartage Charges

 

 

Step 1:Create Purchase Voucher

 

Go to Gateway of Tally > Accounting Vouchers > F9: Purchase

 

1. Press Ctrl+V for Voucher Mode

2. Date: 1-3-2010

3. Credit Stationery House: Rs. 7,500

4. Debit Purchases: Rs. 7,500 and press Enter

5. Tally.ERP 9 prompts for the Item details (as Inventory values are affected is set to Yes)

6. Select item Stapler and press Enter

7. In the Item allocation screen

       Order number: Not Applicable

       Godown: On-Site

       Quantity: 100 nos

       Rate: Rs. 20 each

8. Press Enter till you reach the additional cost details screen

9. Select Packing Charges on Purchases and type Rs. 110 (The total packing charges of Rs.

290 is incurred for both items).

10.Now select the ledger Cartage Charges and type Rs. 90 (The total cartage charges of Rs. 210 is incurred for both items).

 

The Additional Cost Details screen appears as shown below :
Creating Purchase Voucher with Additional Cost Details in Tally.ERP9

11.Press Enter, Tally.ERP 9 prompts for the tracking number details

12.Select End of List.

 

 The Inventory Allocations for: Purchases appears as shown below :

Creating Purchase Voucher with Additional Cost Details in Tally.ERP9

 

13.Select the Item Stapler Pins in the Item Allocation screen and

          Order number: Not Applicable

          Godown: On-Site

          Quantity: 200 nos

          Rate: Rs. 25 each

          Press Enter till you reach the additional cost details screen.

14.Select Packing Charges on Purchases and enter the balance amount of Rs. 180.

15.Select the ledger Cartage Charges and enter the balance amount of Rs. 120.

16.Press Enter till you reach the narration field.

The completed Purchase voucher appears as shown below:
Creating Purchase Voucher with Additional Cost Details in Tally.ERP9

You will notice an additional line displaying the actual value of the item. The item value appearing here will also be appearing in the stock reports.

 

17.Press Y or Enter to accept the screen and return to the Gateway of Tally.

 

 

Display Stock Summary Report

Go to Gateway of Tally > Stock Summary

 

       Highlight the item Stapler, you will find closing balance of 100 nos @ Rs. 22 each worth

Rs. 2,200.

       Return to the Gateway of Tally.

 

 

Display Stock Voucher Report

Cross verify the stock details of stock summary with the Stock Vouchers report as shown below : Go to Gateway of Tally > Display > Inventory Books > Stock Item

                    Select Stapler and press Enter till you reach a report displaying the list of vouchers as shown below:

Creating Purchase Voucher with Additional Cost Details in Tally.ERP9
 

6.3. Creating Purchase Invoice with Additional Cost Details

Setup:

 

        Ensure that Enter Purchases in Invoice Format in F11: Features (Accounting Fea- tures) is set to Yes

 

 

Step 1:Create Purchase Invoice

 

Go to Gateway of Tally > Accounting Vouchers > F9: Purchase

 

1. Select As Invoice

2. Change the date to 3-3-2010 and make the entry as per the purchase voucher details dated 1-

3-2010.

 

The purchase invoice appears as shown below:
Creating Purchase Invoice with Additional Cost Details in Tally.ERP9

3. Press Y or Enter to accept the screen and return to the Gateway of Tally.

 

 

Display Stock Voucher Report

Let us see the rate that is displayed in the stock item voucher report. Go to Gateway of Tally > Display > Inventory Books > Stock Item >

       Select Stapler

                    Press Enter till you reach the Stock Vouchers screen as shown below:
Creating Purchase Invoice with Additional Cost Details in Tally.ERP9
 

6.4. Appropriate Additional Costs

In the entry dated 1-3-2010, we gave the additional cost details for each item (Stapler and Stapler Pins). This additional cost was calculated and added to the cost of the item. The additional costs are not added to the cost of the items, when the entry is made in the invoice format.

 

 

To appropriate the additional costs to purchase invoice of 3-3-2010, Go to Gateway of Tally > Accounts Info. > Groups > Single > Alter

        Select Expenses on Purchases

The screen appears as shown below:
Appropriate Additional Costs in Tally.ERP9

        Select Appropriate by Qty from the Allocation Methods list.

        Accept the screen and return to the Gateway of Tally

                    Similarly, select the option Appropriate by Qty in the Purchase Accounts group also

Display Stock Voucher Report

 

Go to Gateway of Tally > Display > Inventory Books > Stock Item

 

       Select Stapler

       Press Enter till you reach the stock voucher screen

       Select the purchase voucher dated 3-3-2010 and re-accept the voucher for the additional cost to take effect

 

The Stock Vouchers with additional cost details for Stapler appears as shown below :
Appropriate Additional Costs in Tally.ERP9

         Use F4: Item button and select Stapler Pins

 

The Stock Vouchers with additional cost details for Stapler Pins appears as shown below:
Appropriate Additional Costs in Tally.ERP9
 

6.5. Additional Costs incurred after Purchases

Setup :

        Create the following stock item

 

Advanced Inventory in Tally.ERP 9


 

Name of Item

Under

Category

Units

Maintain in Batches

Track Date of Mfg

Use expiry dates

Batch Additional Cost Item

Primary

Not

Applicable

Nos

Yes

Yes

Yes

 

‡        Alter the ledger Packing Charges on Purchases and set the option Inventory Values are Affected to Yes.

 

Step 1: Create Purchase Invoice

On 1-3-10, make a purchase entry for 10 nos of Batch Additional Cost Item (Batch/ 001) @ Rs.

100 from Stationery House.

 

Go to Gateway of Tally > Accounting Vouchers > F9: Purchases

 

1. Select Party as Stationery House

2. Select Stock item as Batch Additional Cost Item

3. Select Godown as Onsite and select the Batch details as shown below

Additional Costs incurred after Purchases in Tally.ERP9

4. Enter the Qty and Rate and allocate it to Purchases ledger.

5. Enter the required bill-wise details and accept the entry.

 

Step 2: Create Purchase Invoice

 

On 2-3-10, make a purchase entry for 20 nos of  Batch Additional Cost Item (Batch/ 002) @ Rs. 200 from Stationery House.

Go to Gateway of Tally > Accounting Vouchers > F9: Purchases

 

1. Select Party as Stationery House

2. Select Stock item as Batch Additional Cost Item

3. Select Godown as Onsite and select the Batch details as shown below

Additional Costs incurred after Purchases in Tally.ERP9

Step 3 : Create Payment Voucher

On 3-3-10, make a Bank Payment entry  for payment of Rs. 900 (Rs. 300 for Batch/001 and

Rs. 600 for Batch/002) towards Packing charges on Purchases.

Go to Gateway of Tally > Accounting Vouchers > F5: Payment

 

1. Debit the ledger Packing Charges on Purchases.

2. Select the item Batch Additional Cost Item

3. In Item Allocations for screen,

       Select Batch/001 and enter 300 in Amount field

                    Select Batch/002 and enter 600 in Amount field. The screen appears as shown below :

Additional Costs incurred after Purchases in Tally.ERP9

4. Credit Bank Account for the same amount (Rs. 900) and accept the entry.

 

 

Step 4 : Display Stock Summary

 

Go to Gateway of Tally > Stock Summary

 

                    Press F12: Range and specify details as shown below :
Additional Costs incurred after Purchases in Tally.ERP9

‡        Accept the Range of information to return to the Stock Summary screen.

        The report now displays only one stock item Batch Additional Cost Item, press Shift + Enter to view the batch details.

 

The batch details will be displayed as shown below :

Additional Costs incurred after Purchases in Tally.ERP9

Practice Exercise

Ensure that you are in Indus Enterprises,

 

1. Enter a purchase invoice on 15-10-2009 for 10 Nos of  Item One @ Rs. 100 each and 20 nos of Item Two - @ Rs. 200 each from the Supplier.

Setup :

       Create two stock items Item One and Item Two with the unit of measure as nos.

 

       Create the ledgers - Supplier (Sundry Creditors), Delivery Charges on Purchases and

Tax on Purchases (under Purchase Accounts).

                       Alter the group Purchase Accounts and select Appropriate by Value as the method of appropriation.

 
 
Text
 
Company Information @ Tally.ERP9
 
Group & Ledger

Introduction
1. THE GROUP
2. THE LEDGER
3. VOUCHERS TYPES

Advanced Inventory / Stock
Meaning
Order Processing
Re-Order Levels
Tracking Numbers
Batch-wise Details
Additional Cost Details
Bill of Materials (BOM)
Price Lists and Price Levels
Stock Valuation
Zero Valued Entries
Inventory Ageing Report
Actual and Billed Quantities
Advanced Usage of Vouchers
Maintain Bill-wise Details
Cost Center and Cost Category
Interest Calculation
Reversing Journals
Post-Dated Voucher
Memo (Memorandum) Voucher
Optional Voucher
Using Tracking Number
Tally.ERP9 Report
  1. Unit Objectives
  2. Modifying Reports (Options)
  3. Balance Sheet
  4. Profit & Loss Account
  5. Stock Summary
  6. Trial Balance
  7. Day Book
  8. Books of Accounts
  9. Statement of Accounts
  10. Inventory Books
  11. Statutory Reports
  12. List of Accounts ( Chart of Accounts)
  13. Exception Reports
  14. Printing Reports
Tally.ERP9 MIS and Other Reports
Statutory & Taxation
Utilities & Others @ Tally.ERP9
Credit Limits
Knowledge Base @ Tally.ERP9
Stock Items
Stock Groups
Inventory Masters
Inventory Vouchers
Inventory Report Statements
Balance Sheet
Accounting Reports
Accounting Vouchers
Interest Calculation
VAT-Value Added Tax
Service Tax
TDS (Tax Deducted at Source)
 
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