Any purchases you make will need to be recorded in Tally, this is done by creating a purchase receipt - in other software this may be known as a purchase invoice. Create a new receipt by going to Purchases > New Receipt.
Creating a Purchase Receipt
A purchase receipt can be created by simply going to Purchases > New Receipt. You will then need to fill out the relevant fields.
- Supplier - You need to select the supplier that the purchase applies to from the dropdown menu.
- Supplier’s Reference - This is where you will put the invoice number that you have been sent by the supplier.
- Currency - You will need to set this to the currency that you were invoiced in.
- Receipt Date - This is the date that the invoice was raised on.
- Payment Due - This is the date that the payment is due on, set by the payment terms of the supplier.
Then you have to enter the details of the invoice that you have received. You have an option to apply a payment in the Payment Details section, all you have to do is tick the paid box and put the details of your payment. To complete recording the purchase you just need to hit Create Receipt.