122.63 Main Location   Enable this option to specify Marks for every item selected in the invoice Amount Provide Narration, if any and accept the voucher.   Against No.1 In our above example as on 3rd April 2020, Std rate is defined Rs. FIFO method will consider the ‘First In First Out’. For F12 configurations for Material In voucher, click here. Gross profit percentage = Gross profit/value*100 Outward You cannot use a voucher class in voucher alteration.     As on 4th April 2020: If you do not want to skip the date field then set this option to No for faster Voucher entry 122.50 Costing Method at Zero Cost Sales Transactional Consumption –> System determined value based on valuation method Rate stream       7. 225.00 15   55750= 332520+22500 Enable this option to specify the description for each Ledger selected in the Accounting invoice entries Value Consolidate quantity of Stock Items with same rate 350.00 Refer to Define Voucher Numbering for more information. The Closing Value of stock is displayed as Rs.12000. Qty   Provide Reference No. Stock item from 1st April purchase is 10.00 nos x 100 =1000 360.00 10.00nos Average Cost or Weighted Average Cost = Total Cost [Inward Value] / Total Qty [Inward qty] {Annual} Consumption is derived as below for April month: Remaining stock item from 2nd April purchase is5.00 nos x 150= 750 80 No. Value Rs.955 is the difference between the Purchase and Receipt Note cost.   So the consumption or cost of sale = 15 nos. Amount Enable this option to calculate tax on the current subtotal value and not on inventory total value The Purchase value is Rs.   6000.00 5625.00 If you set it toNo, expiry batches will not be displayed in the List of Active batches. 360.00 01/04/20 Purchase   Description   Stock item from 1st April purchase is10.00 nos x 100 = 1000 Rates for Stock Items. Outwards Closing (Daily)   Let us see how Closing Value is getting calculated: Purchase has been raised from ‘Chennai Location’ – ‘B2’ Batch. Rate Remaining stock item from 4th April purchase is5.00 nos x 200=1000   100   Quantity 175.00   By default, the ledger current balance up to last voucher entry date are displayed. In case the Job Worker is receiving the raw material from the principal manufacturer, the Destination Location should be set to Not Applicable. Scenario 2: Valuation Method – FIFO Perpetual 5625.00 Gross profit = Value- Consumption   i.e. Rate Main Location Std rate has been defined as on 3rd April 2020, Rs.500/- is applicable from 3rd April.If there are any vouchers exists before the date of std rate, it will take the Last Purchase Cost. LIFO is one of the stock valuation methods used for calculating closing balance of inventory in TallyPrime. As always, you can press Ctrl+A to save. The Average Cost continues to be Rs.122.50 since there is no change in the Inward Cost. Select the supplier’s (Job Worker)/customer’s (Principal Company) name as the Party A/c Name. Show final Ledger Balance Value 400.00 based on the actual purchase price. 00001 4 0 obj 200.00   Monthly Average Method of stock valuation Since the Receipt Note Cost is already included in the Inward Cost, only the difference between a Receipt Note Cost and Purchase Cost can be included in the Inward Cost. As always, you can use Ctrl+A to accept. 9,810.53 04-04-2020 Closing (Daily) Thereafter closing value will be calculated based on the std rate specified. 100.00 3000/- and purchase invoice was raised for 2 nos Rs. 360.00 50 Transaction /h*+�P:�$K��.�A&��     10.00nos 100 No.1 Closing Quantity = 80 Rate 100 2861.25/-     The Source Location appears as the Consumption Location when the Principal Manufacturer receives the finished goods from the Job Worker, using the: By default, a warning message is displayed for negative stock balance.   Transaction Enable this option to view the Party Details screen, when a party ledger is selected during invoice entry. Value: 22000 297.50 The rate and amount will be displayed automatically. 120 LET’S UNDERSTAND THIS WITH AN EXAMPLE: M/S.   Manufacturing Journal Voucher Type 10 nos (Purchase=> Main location => B1) x 100 =1000   11625.00 Purchase Order details, and Export/Import details can be recorded Purchase If you set it toNo, the error message will not be displayed, By default, the expiry batches in the list of active batches during voucher entry are displayed. Date Select the Location. 100 Hence closing rate is Rs. 03/04/21   Consider an example below: Save my name, email, and website in this browser for the next time I comment. Modify Tax Rate details for Excise The Average Cost continues to be Rs.122.63 since there is no change in the Inward Cost. The difference between a Purchase and Receipt Note = [47 x 135] – [47 x 120] = Rs.   On 11th April 2020 The difference between the Receipt Note value and Purchase value will be added from the Inward Cost. 122.50 Select the appropriate location in Source Location field, based on the type of Job Order. Value 9,810.53 122.50 122.50 Rate Costing methods 120000/125000*100= 96.00%.   Std Rate: Rs.500/- is applicable from 3rd Apr 2020. Allow Auto Consumption of Stock Items     Voucher classes are templates for voucher types, used Voucher class aids in faster data entry, appropriate allocation of stock item to ledgers, helps eliminate mistakes of wrong ledger selection, and invoice level rounding. In case the voucher is inactive, you will be prompted to activate the voucher type. In this intra-year reporting, when books are closed at the end of a financial year, closing balance is carried forward to next financial year. %PDF-1.5 10-04-2020 %����   Date Skip the Date field during voucher creation 6000.00 The closing balance for the stock item at the time of closing of books: When stock item 00001 is used in the new financial year, the inventory reports will display the cost /consumption value of these items at the rate -100 (Rate= 22000 (Value)/200 (Quantity). Let us arrive at the cost of 2.00 nos of the ‘Receipt Note’. As always, press Ctrl+A to accept the screen and return to the inventory voucher. 05/04/20   The closing balance for the stock item at the time of closing of books: