Wednesday, September 17, 2014

Price Lists in Tally.ERP9


Price List in Tally.ERP9

1.   Price Levels in Tally.ERP 9
In Tally.ERP 9, you can create different Price Levels and assign different Price Lists to these Price Levels. For example, you can create Wholesaler, Distributor and Customer as Price Levels and assign applicable Price Lists to these Price levels, as per your requirements, so that only the relevant prices and discount rates are used during entry of orders and invoices. Before you start creating Price Lists, you may decide to create Price Levels as required.
2.   Creating Price Levels in Tally.ERP 9
Ensure that whether the Company is enabled for Accounts with Inventory in the Company Master screen.
To enable Price Levels, Set the following fields to Yes in F11: Features > F2: Inventory Features screen.
1.    Allow Invoicing (If you do not set this option to Yes, the options for Price Lists will not be available.)
2.    Set Use Multiple Price Levels to Yes.
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3.            Type the name of the price levels to be created, in the Company Price Levels screen.
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4.            Press Ctrl + A to accept the screen and return to the F11: Inventory Features screen. Set the other options as required and accept Yes to save.
3.   Altering Price Levels in Tally.ERP 9
his option allows you to alter the existing Price Levels.
To alter a Price Level,
Go to Gateway of Tally > F11: Features > F2: Inventory Features screen.
1.    Tab down to Use Multiple Price Levels field and press Enter to go to Company Price Levels screen.
Follow the same procedure as discussed in Creating Price Levels, to alter the name of a price level. You can simply overwrite the names you specified previously and save the changes.
For more information refer Creating Price Levels.
4.   Price List in Tally.ERP 9
Price Lists are useful for orders and invoices. An up-to-date price list helps in decision-making even at the lowerlevels of the organization and quickens the sales process. Tally.ERP 9 assists in creating quantity based pricing with complex discount structure. Price Lists are available only for inventory items and hence the feature is available only if inventory and invoicing are activated for the company.
You can have one or more price lists. You may require more than one price list, when you have different price structures/levels for different purposes viz., different groups of customers requiring different discounts or dealing in different products.
Tally.ERP 9 permits you to create any number of price lists, based on the Stock Group and Stock Category to match the structure you need.
Go to Gateway of Tally > Inventory Info. > Price List
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5.   Creating a Price List in Tally.ERP 9
Once you have created Price Levels, the Price List option appears in the Inventory Info. menu
Go to Gateway of Tally > Inventory Info. > Price List
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Creating Price List based on Stock Group
Go to Gateway of Tally > Inventory Info. > Price List > Stock Groups
·         If you want to create a Price List consisting of all stock Items falling under different Stock Groups, select Stock Groups from the Price List Menu.
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·         Select a Stock Group Name from the List of Stock Groups.
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·         Select the Price Levels from the list
Note:             To view all the Stock Items under the selected Price Level, click on  F12: Configure and set the option Show all Items for Price Level to Yes.
·         Type the applicable rates for the stock items for the selected Price Levels (you will notice that all the items grouped under Components appears under List of Items).
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·         Accept to save
Under Group
This is the stock group of the Stock Item, for which you want to define the Price Lists.
Price Level
This is the Price Level under which the Price List needs to be created
Applicable From
This is the date from which the defined Price List is applicable.
The columns you see are as follows.
Sl. No
This column is auto-generated serial numbers to track the number of items in the Price List.
Name of Item
This column contains the Name of the Stock Items under the selected Stock group. You can define the Price Listfor each item.
Quantities - From & Less Than
These fields are repeated for an item and begin with a blank for 0 items and end with a blank for any number of items (i.e., upto 50 Nos you can have a certain pricing if someone buys more than 50Nos you can specify a different rate). This is useful for quantity based pricing and discounts. You can create a staggered quantity price structure, if required.
If you do not require quantity based pricing, leave From and Less Than fields blank.
Rate
Under this column, you can specify Rate, the Rate for the item based on the quantity range given.
Discount % (if any)
You can define a discount percentage in the Price List which will be taken automatically in the sales invoice, you may also choose to maintain the same price for all bands, but define different discounts.
Historical Details (Rate and Disc%)
This column displays the last Price List specified for such Stock Group.
There are two columns: Rate and Disc %. Tally.ERP 9 provides the historical details of the sale rate and discount percentage of any previously created Price Lists. Therefore, you can define the current price details based on the information given in the Historical details.
Cost Price
In this column, Tally.ERP 9 displays the cost price of the item calculated based on the stock valuation method given in the item master. This has been provided to assist the user in giving the appropriate sale price. By viewing the historical price details of an item, we can accordingly define the sale price for the new Price List.
Note:         For the discount percentage to be taken in the Price List, you should activate the feature Separate Discount Column on Invoices in the F11: Features (Inventory Features).
Buttons in Price Lists Screen
Ctrl+F4: New Parent
Select this option to change the parent Stock Group Name, Price Level from the List.
Creating Price List based on Stock Categories
Go to Gateway of Tally > Inventory Info. > Price List > Stock Categories
·         If you want to create a Price List consisting of all stock Items falling under different Stock Categories, select Stock Categories from the Price List Menu.
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·         Select a Stock Category from the List of Stock Categories.
·         Select the Price Levels from the list
·         Type the applicable rates for the stock items for the selected Price Levels
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 Buttons in Price Lists Screen
Ctrl+F4: New Parent
Select this option to change the parent Stock Category Name, Price Level from the List.
Print/Export/Email/Upload Price Lists
Select the relevant buttons while the price list is displayed for it to be printed / sent by e-mail or published.
6.   Altering a Price List in Tally.ERP 9
This option allows you to view the existing Price List based on Stock Groups or Stock Category in edit mode, here you are allowed to change the various information.
To alter a Price List based on Stock Groups,
Go to Gateway of Tally > Inventory Info. > Price List > Stock Groups
1.    Select the required Stock Group Name from the List of Stock Groups.
2.    Select the required Price Level from the List of Price Levels.
3.    Change the Applicable From date, as required.
Follow the same procedure as discussed in Creating a Price List, to alter the Price Lists.
Note:        Similarly you can alter the Price List based on Stock Category.
To view all the Stock Items under the selected Price Level, click on  F12: Configure and set the option Show all Items for Price Level to Yes.
7.   Assigning Price Levels to Ledger Accounts
Once the Price Levels are created in Tally.ERP 9, a new option appears in Ledgers grouped under Sundry Debtors and Sundry Creditors, with the help of which you can assign a specific Price Level to the ledger account.
Go to Gateway of Tally > Accounting Info > Ledgers > Create
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 You can choose the Price Level that you want to assign to the Ledger, by selecting the Price Level from the PriceLevels list in the Pricing Level Applicable field. Select Not Applicable, if you do not want to assign any PriceLevels to the Ledger.
If you want to assign Price Levels to ledgers created earlier, alter the ledger account, tab down to Pricing Level Applicable field and select the applicable price level from the list.
Note:         For a Ledger, you can only assign / tag only one Price Level at a time, however you can change the Price Level selection depending upon your requirement in alteration mode or during Voucher Entry.
8.   Using Price Levels during Invoicing (Voucher Entry)
The price levels created and assigned to Ledger Accounts automates Stock Item Prices and helps minimizing errors during Invoicing.
Go to Gateway of Tally > Accounting Vouchers > F8: Sales
1.    Select As Invoice.
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3.    Accept to save
During Invoicing, there is an additional field Price Level enabled once Price Levels feature is activated and is prefilled with the Price Level which are specified for the selected Party ledger and the cursor skips this field.
You may change the Price Level during Invoicing by pressing F12: Configure and setting Yes to Allow modification of ALL fields during entry.
Go to Gateway of Tally > F12: Configure > Invoice/Orders Entry
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 Set Allow modification of ALL fields during entry to No to prevent changes made to prices. If you set it to Yes, you can override the prices already defined.
Go to Gateway of Tally > Accounting Vouchers > F8: Sales
·         Select As Invoice.
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Once the above configuration is enabled in F12: Configure, you will now be allowed to modify the Price Levels for the selected Party Ledger during Invoicing.
Note:           Tally.ERP 9 provides you flexibilty to select items with and without the Price List in the same invoice. For example, for the item which had the Price List defined, Tally.ERP 9 took the details automatically. Whereas for the stock item which did not have a Price List defined, Tally.ERP 9 prompted for the same.