Dear Friends, you know very well about the Debit Note, Credit Note and Vat. Debit Note voucher is used specially for purchases return entry while Credit note voucher is used specially for sales return entries apart of that these vouchers are also used for make rate difference entries. After reading this article you will be able to use debit note voucher in Tally.
This article will helps you when you have to issue or receive vat debit and credit note in your company. VAT Debit and Credit note voucher is generally used for the purpose of making an adjustment in relation to the VAT invoices.
Rate difference or rebate/discount etc. allowed by vendor entered in debit note and when granted to buyer is entered as credit note. The net sales or purchase are taken into account for vat computations. These are the similar to purchase invoice and for credit note.
How to use Debit Note Voucher in Tally:
Press F11 -> F2 ->
Use Debit/Credit Notes: Yes
Use Invoice Mode for Credit Notes: Yes
Use Invoice Mode for Debit Notes: Yes
Normally debit note is issue when purchase goods are return to vendor. This voucher is also used in extra charged amount to debtors. Press Ctrl + F9 to active debit-note voucher in tally. When purchase goods are return to the party against the VAT then normally following entry be passed.
Dr. Creditor a/c 562.50
Cr. Purchases@12.5% 500
Cr. Input Vat @ 12.5% 62.50
Note: By default Purchases Return entry made in invoice mode in the Debit Note voucher. To see same entry in voucher mode you have to press Ctrl + V, on this voucher.
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I hope you like this post. After reading this post you would be able to make entry in this voucher. Give your important suggestions in the comment box. Thanks.