Tally Prime full course in Hindi - Practice sample assessment

@Tally Technical, Presented by Virendra kukreti

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Credit limit and interst calulation

1. INTROD UCTION

Read the below-given business scenario and implement it in Tally.ERP 9 by creating a company for
Kumar Stores

1.1. BUSINESS SCENARIO I

Kumar Stores was facing few issues in tracking the outstanding of its Clients. Some customers were buying
regularly but not paying the dues on time and there was no control during invoicing which was leading to
huge outstanding.

Kumar Stores then decided to implement the control system for billing:

1. Allocate the credit limit for each customer

2. Warning the data entry operator in case any bills are overdue.
3. Should not allow the data entry person if the bill amount crosses the credit limit.

Set the credit limit for the customer Rs. 1,00,000

Record 3 sales transactions on different dates and specify the credit days as 10 days.

Date Amount Due date

01-Apr-2019 23,000 11-Apr-2019
05-Apr-2019 33,000 15-Apr-2019
15-Apr-2019 35,000 25-Apr-2019

Record 4th sales transactions, ensure total outstanding amount crosses the limit, check the
behaviour of Tally during sales entry.

1.2. BUSINESS SCENARIO II

Interest calculation

Despite Kumar Stores giving 10 days of credit for their credit customers, few customers not paying on time.
Hence, it has now decided to enforce the collection of interest on the overdue amount to impose a penalty
for late payments and systematize the collection from their customers.

S e t 1% as interest percentage per calendar month and it is charged if a customer fails to pay within due
date, interest is on a total number of days after the due date.

Set interest calculation for customers and record Sales Invoices with 10 days credit period. Then see interest
report extending the period out of due dates.

Raise interest accrual voucher for below sales invoice and receive total amount i.e., Invoice amount plus
Interest amount from the customer.

Amount Received No of Days

Date Amount Due date
Date delayed
01-Apr-2019 23,000 11-Apr-2019 15-Apr-2019 4 Days