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Price Levels and Price Lists of Stock item using Tally.ERP9

A Price List refers to a list of items maintained by an organisation along with their price details. A price list is generally used by organisations which deal in multiple products. Price Lists are maintained in various structures for different types of buyers (customers), viz., Wholesalers, Dealers, Retailers, etc. The price list is structured based on the classification of buyers and is referred to at the time of making sales. Whenever the sale prices change (on the basis of time), the changes reflect in the Price List also. In case of bulk sales, discounts can also be given to the buyers.

Let us now see how Tally.ERP 9 handles such a situation through the Price List feature.

1. Activating Price Lists and Defining Price Levels

Setup:

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

  • Set Use Multiple Price Levels for Invoicing to Yes. (This will appear only if the feature Allow Invoicing is set to Yes.)

  • Tally.ERP 9 takes you to the Company Price Levels screen, type different price levels for National Traders as Retail Sales
    • Retail Sale
    • Wholesale

  • Accept the screen and return to the Gateway of Tally.

Step 1: Creating a Price List

Go to Gateway of Tally > Inventory Info. > Price List

1.      Select the Group Components (you will notice that all the items grouped under Components appear automatically).

2.      Select Retail Sales as Price Level and specify 1-7-2017 in the Applicable From field

3.      For USB Pen Drives 2GB give the details as follows:

  • Less than - 10 nos - ₹. 1,250/- and no discount
  • From 10 nos and Less than 25 nos - ₹..1,250/- and 5% discount
  • From 25 nos onwards - ₹..1,250/- and 7.5% discount
4.      Specify the price details for other items as it appears in the Price List screen below :

5.      Accept the Price List Details

6.      Similarly, create another Wholesale Price List as on 1-7-2017 with the following rates:

  • USB Pen Drives 2GB - ₹. 1100
  • Wireless Keyboard - ₹. 450
  • Wireless Mouse - ₹.  220

7.    The Quantity and Discount details are similar to the price list screen given previously. Ensure the price details are as shown below :

8.      Press Y or Enter to accept the Price List

2. Using Price Lists

A- (with ‘Retail Sale’ as Price List)

On 2-7-2017 raise a sales Invoice on Beltron Computers for the following Items :

Name of the Item

Qty

USB Pen Drives 2GB

30 Nos

Wireless Keyboard

10 Nos

The Invoice amounted to ₹. 46,424.00

Setup:

  • Create a New customer called Beltron Computers ( Retail Sales)  with the following details.

‡             In the  F11:  Features  (Inventory Features) activate Separate  discount column  on invoices.

Step 1: Create Sales Invoice

1.      On 2-7-2017 raise a sales Invoice on Beltron Computers

2.      Select the stock item USB Pen Drives 10GB

3.      Specify quantity as 30 nos.

4.      Rate and discount automatically appears as ₹. 1,250 and 7.5% respectively (as the required price level is selected in the ledger master of Beltron Computers).

5.      Now, select another item – Wireless Keyboard

6.      Type the quantity as 10 nos

7.      Rate and discount automatically appears as ₹. 490 and 5% respectively (as the required price level is selected in the ledger master of Beltron Computers).

8.         Accept the entry

B- (with ‘Wholesale’ as Price List)

Step 2: Create Sales Invoice

On 2-9-2017 raise a Sales Invoice on Swayam Infotech ( a Wholeseller)  for the following Items :
The Invoice amounted to ₹. 43,530.

Name of the Item

Qty

USB Pen Drives 10 GB

30 Nos

Wireless Keyboard

10 Nos

Wireless Mouse

10 Nos

 

 

 

 

 

Setup:
‡             Create a New customer called  Swayam Infotech ( a Wholeseller)  with the following details.

1.      On 2-9-2017 raise a sales Invoice on Swayam Infotech ( A Wholeseller)

2.      Select the stock item USB Pen Drives 10GB

3.      Specify quantity as 30 nos.

4.      Rate and discount automatically appears as ₹. 1,100 and 7.5% respectively (as the required price level is selected in the ledger master of Beltron Computers).

5.      Now, select another item – Wireless Keyboard

6.      Type the quantity as 10 nos

7.      Rate and discount automatically appears as ₹. 450 and 5% respectively (as the required price level is selected in the ledger master of Beltron Computers).

8.      Now, select third item – Wireless Mouse

9.      Type the quantity as 10 nos

10.     Rate and discount automatically appears as ₹. 220 and 5% respectively (as the required price level is selected in the ledger master of Beltron Computers).

11.       Accept the entry

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15 Chapters in Tally.ERP9 Book + 21 Chapters in GST Practical Assignment on GST in Tally.ERP9 & All features are described with Practical Problems with Solutions.

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