Summary: Tally is one of the most used accountings software in India. But do you know how to make bills in Tally? Let’s discover what GST bills are in Tally, information to include in the invoice, how to generate and print those bills with ease.
Tally is one of the most known accounting software in the market right now, and with the introduction of Goods and Service Tax (GST) in India, it has become a favorite tool for businesses and individuals alike.
If you have a business with the goods and service tax registration, then you must provide a bill for your goods and services. Many businesses have started looking for ways to record their financial transactions using GST accounting software.
So, how can you generate or make a bill in Tally? In this blog, I will discuss what the GST bills in Tally are, and how you can generate and print those bills.
Bills or invoices are the key elements of any sales process. It is a primary document that acts as a receipt for the products or services that you have provided. GST bills consist of the list of those products or services with the total amount due.
A GST also has the total amount of tax charged on each service or product that a customer purchases from the seller. You can check the GST bill before SGST and CGST are raised on them.
When you create a GST invoice in TallyPrime, there are certain things like details of products or services, receiver’s name, total amount before and after GST, billing date, etc. are mandatory and it should be included in the invoice. Below are some of the information that an invoice must contain:
Tally is a popular accounting software that is widely used for managing financial transactions and generating various financial reports. Creating an invoice in Tally is an easy process and only involves few steps like creating a sale or a party ledger, entering pricing details, etc. Here’s a guide on how to create an invoice in Tally:
First visit Tally Gateway, and then visit Accounting Voucher, or you can use the shortcut key- Go to Tally Gateway and use shortcut key V on the keypad.
You can also add more details like buyer’s order number, delivery note number, additional product description, tax column, etc., using F12: Configure.
You can easily customize your Tally bills with the help of add-ons. With add-ons, you can set the message that needs to be printed on the invoice, change captions, add terms & and conditions, and more. To customize your bill, follow the instructions below:
There will be multiple add-ons that you can choose from. Some of them are:
Once you have successfully created your bill, Tally will instantly show you the printing setting option- Print or Not. You can immediately print a Tally bill with a single click, or you can do it later.
Now, to print, either click the “print” button or use the shortcut Ctrl + P. Make any other settings on the configuration screen. Here, you can say how many copies you want and which printer to use.
According to GST rules, if you’re selling things with delivery, you need to make 3 copies of the GST invoice: one for the buyer, one for the delivery person, and one for yourself.
Conclusion
Generating GST bills in Tally is an easy process and includes essential details of buyers and sellers. From creating invoices to customizing bills with add-ons and efficiently printing GST bills, Tally can handle the entire cycle. This makes it a valuable tool for businesses navigating the complexities of Goods and Service Tax.
If a person is registered for GST and his turnover is more than 20 crores, he is required to issue an e-invoice under GST.
It has an inbuilt Invoice format to create invoice format in Tally, which can be customized on Sales Voucher Setting.
Add-ons are like plugins for Tally. These are customized modules which you can use to enhance Tally functionalities.
To create a ledger in Tally, visit Gateway of Tally, then accounts Info and then ledgers. Now, click on the create option to generate a ledger.
An accounting voucher in Tally is a document that is used to record financial transactions like payments, purchases, sales, receipts, etc.
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