In Tally Sales Entry: Definition, Types, And Applications

In tally sales entry is used to keep sales records of companies covering major details of sales such as sales order, payment status, amount, receiving status, return item, order description, and much more. Tally provides various types of sales entries for companies to maintain their records easily through Tally software solutions. Let us learn more about tally sales entries in this article.

Table of Contents

What is Sales Entry?

In Tally Sales Entry is a method of record keeping of transactions in tally accounting software that describes the transfer of goods and services from a business in exchange for an agreed payment decided by the company.

Tally is widely used by businesses to manage financial records and sales entries. Most small and mid-level businesses maintain their purchase, inventory, sales, and other daily records with Tally Prime. It helps to maintain revenue records, GST compliance, Output tax, and inventory management. Let us know step by step method to record in tally sales entry.

Key Takeaways

In tally sales entry is used to record goods and services sold by a company.
A sales voucher is used to record sales transactions for a company in tally.
In tally sales entry can be recorded using invoice and voucher methods.
Sales entry helps to maintain revenue records, GST compliance, output tax, and inventory management.

What is a sales voucher in Tally?

A sales voucher in Tally is a type of accounting voucher used to record sales transactions using the invoice or voucher method. Using the Sales voucher format, user invoices can be created digitally and need not be printed for the customer. It can easily be shared online with the user’s contact ID. However, with the invoice method, you will need to present a print of invoices in hard format.

How to Record In Tally Sales Entry?

Let us now look at step-by-step methods to record sales entries in tally software.

Select Company: On Tally, you need to select the company and fill in details related to the company if not already done. If you have multiple companies, select the company for which you need to record the sales entry.
Go to Voucher Entry: Navigate to Gateway of Tally and select Accounting Vouchers, as sales entries come under Accounting Vouchers.
Select Sales Voucher: You can use shortcut key F8 to open the sales voucher options on the screen.
Enter the date: Make sure the transaction dates are filled correctly. To make changes, press the shortcut key ‘F2’ and enter the desired date.
Enter the sales details: Fill in the particulars in the sales ledger, inventory details, and item details. You will need to enter the name of the item, quantity, rate, and final amount. Also, specify any additional charges or discounts explicitly.
Tax Details: Enter the tax details, i,e CGST or SGST applicable to the sales order. You can calculate GST tax calculations automatically on Tally.

Types of Sales Entry Method

There are two types of sales entry in Tally. Check some major points about these two methods.

1. Invoice Method

The invoice method and sales entry method help create detailed sales transaction records. It includes item details, quantities, rates, and tax details. It is often used by businesses that need to send complete, detailed descriptions to them.

The item invoice method is used to manage the recording of inventory and stock information for each item. While, the accounting vouchers do not keep records of each item, and hence are less complex than item invoices.

2. Voucher Method

The voucher method in tally sales entries is simpler entries that does not focus on each inventory item or detailed records of the sales order. It is used when item-wise details and inventory management are not necessary. It is used for bulk sales entries, product sales, fixed asset sales, and more.

Types of Sales Vouchers in Tally

There are many sales vouchers present in the tally sales entry. Let us check out some of them below.

1. Sales of Goods and Services

This sales voucher is used to record all major sales activities, such as sold items, payment status, payment received, return items, etc for every transaction. You can easily create these entries on Tally Prime.

2. Sales Order

You can easily record all your sales orders with the help of Tally ERP 9 and link them to the matching invoice. You can also get regular updates on the outstanding sales orders and take out a printout of the sales order.

3. Sales Returns

The sales return voucher is used to record items that are returned by the company due to defects or other reasons. This entry logs the status of returns, payment status, and descriptions of the reason for the return, etc.

4. Point of Sale

Point of sale is used to record sales transactions made by retail customers. In tally sales entry related to retail and checkout counters is recorded at the point of sales. You can view the transaction history, payment date, status and also download the vouchers anytime.

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Enroll in our Tally Prime Advanced Course and master different features of Tally to implement different business records, GST calculations, evaluations, calculations, etc. If you are new to Tally and need a fresh start we also provide a Tally basics program to help you start from scratch and build a strong foundation in Tally.

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In Tally Sales Entry FAQs

Q1. What is Sales Entry in Tally?

Ans: A sales voucher in Tally is a type of accounting voucher used to record sales transactions using invoice or voucher method. It helps to maintain revenue records, GST compliance, output tax, and inventory management.

Q2. How do I create a sales order in tally?

Ans: Select Alt+G and create a voucher. Choose the types of vouchers and select the sales order. You can also visit the sales order using the gateway of tally-> vouchers-> F10 -> Sales order (Types of sales order).