During purchasing any goods lot of other expenses also done and we need to know how to track additional cost of purchases in Tally or any other accounting software. In this article we will discuss how could you easily track additional cost of purchases in your accounting software.
Dear Friends, You know very well about the Tally software. At present time Tally is one only most popular accounting cum inventory software that handles the day to day all routine operations of any business unit very effectively. It is widely accepted by the different accounts for its user friendly nature.
Tally provides different accounting and inventory features that allow any user to maintain his company accounts effectively. Today we talk about another important feature of which is called “Track additional cost of purchases” in Tally.
Today we talk about another important feature of Tally which is called “Track additional cost of purchases”. After reading this article you will be able to easily use this feature in active company of Tally software.
What is Track Additional Cost of Purchases in Tally:
This feature in Tally is used for add different direct expenses in the amount any stock item purchasing cost. These direct expense generally included in the cost of purchases.
Normally when you pass a simple purchase entry with expenses then the expenses value show separate in P& L a/c. In other words to include expense amount (which you payment in case of purchase) in purchase ledger then use track additional cost of purchase. After using this feature expense value is adjust in cost of items. This feature is used only in case of purchase.
How to use Track Additional Cost of Purchases feature in Tally:
Step 1: Press F11 > Inventory Feature > Track additional cost of purchase > Yes
Step 2: After activate of this feature create related ledger a/c, but if ledger a/c is already exist in your company then no requirement to create separate a/c like purchases, creditor, different direct expenses like freight, assembling charges, installation charges and many more as per your requirement.
Must Read: How to use Import or Export in Tally
Step 3: Entry should be passed in the Purchase voucher (F9) only in particular or voucher entry mode. You have to change mode of voucher by pressing short cut key CTRL + V. During entry you have to see an additional window on which you set your all direct expenses. These direct expenses increased cost of your product.
Note – After pass out the entry if you see the P & L a/c there is no amount display in expenses a/c because it will adjust in purchase a/c.