Financial Control: Setting Party Credit Limits in Tally Prime



Sri Selvakumar Department Stores
Address 39X3+37W, Shrinagar, Aranmanai Pudor, Renganatha Puram, Tiruppur - 641652
Phone 0421 423 7075
Mobile No 9875632201
Fax No -
Email sirselvakumardepartmentalstore@gmail.com
Website sirselvakumardepartmentalstore.in
GSTIN No 33AGBFG5670C1ZM
PAN Card No AGBFG5670C

Credit Limit

  • AUG 19 sold the following stock item on credit to Venus super store with the Ref No. SSD1037.
Stock Item Quantity Rate
Basmati (W) 50 Kgs 120

  • AUG 20 Sold the following stock item on credit to Venus super store with Ref No. SSD1038.
Stock Item Quantity Rate
Basmati (W) 400 Kgs 110

  • AUG 23 Sold the following Stock item on credit to Venus super store with Ref No. SSD1039.
Stock Item Quantity Rate
Basmati (W) 100 Kgs 110

Credit Limit

AUG 19 sold the following stock item on credit to Venus super store with the Ref No. SSD1037.

Stock Item Quantity Rate
Basmati (W) 50 Kgs 120

Create a Ledger for Venus Super Store:

  • Go to Gateway of Tally > Accounts Masters > Ledgers > Create.
  • Enter the name "Venus Super Store" and select the appropriate group, for example, "Sundry Debtors."

Set Credit Limit for Venus Super Store:

  • Select "Venus Super Store" from the list and set the credit limit.
  • F12 > Configuration > Provide Credit Limits > Yes
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Create a Stock Item:

  • Go to Gateway of Tally > Inventory Masters > Stock Items > Create.
  • Enter the necessary details for the Basmati (W) stock item.
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Create a Stock Item:

  • Go to Gateway of Tally > Vouchers > F8: Sales.
  • Select the date as AUG 19.
  • In the sales voucher:
    • Select "Venus Super Store" as the party ledger.
    • Enter the reference number as "SSD1037."
    • Select the stock item as "Basmati (W)" with quantity as 50 Kgs and rate as 120.
    • Save the voucher.
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AUG 20 Sold the following stock item on credit to Venus super store with Ref No. SSD1038.

Stock Item Quantity Rate
Basmati (W) 400 Kgs 110

Create a Sales Voucher:

  • Go to Gateway of Tally > Vouchers > F8: Sales.
  • Set the date as AUG 20.
  • In the sales voucher:
    • Select "Venus Super Store" as the party ledger.
    • Enter the reference number as "SSD1038."
    • Choose the stock item as "Basmati (W)" with quantity as 400 Kgs and rate as 110.
    • Save the voucher.
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AUG 20 Sold the following stock item on credit to Venus super store with Ref No. SSD1038.

Stock Item Quantity Rate
Basmati (W) 100 Kgs 110

Create a Sales Voucher:

  • Go to Gateway of Tally > Vouchers > F8: Sales.
  • Set the date as AUG 23.
  • In the sales voucher:
    • Select "Venus Super Store" as the party ledger.
    • Enter the reference number as "SSD1039."
    • Choose the stock item as "Basmati (W)" with quantity as 100 Kgs and rate as 110.
    • Save the voucher.
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Ration Analysis Reports

  • Gateway of Tally> Reports > Ration Analysis
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  • Select Recv. Turnover in days
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Tally Prime

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