04 tacp tally lesson track additional cost of purchase
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The document provides a detailed guide on how to track additional costs associated with import purchases through the TACP (Total Additional Cost of Purchase) method using Tally ERP 9 software. It discusses various components like customs duties, ocean freight charges, and transport fees, illustrating them with examples of products such as engines, alternators, and batteries. The document also outlines step-by-step instructions for entering these additional costs into the Tally system, ensuring traders accurately ascertain the full cost of their imported goods.
04 tacp tally lesson track additional cost of purchase
- 1. 1 T A C P TRACK ADDTIONAL COST OF PURCHASE
- 2. Master Mind Solutions TACP :- Track Additional Cost of Purchase In Import Purchase, Traders Usually receive the Goods from overseas companies in Various Types, Size, Quantity & Rate For Example Goods Contains :- (a) Generator Engine – Various Brand – Model - Quantity - Rate (b) Generator Alternator - Various Brand – Model - Quantity - Rate (c) Generator Battery - Various Brand – Model -Quantity - Rate The Nature of other Expenditure involved in Import Purchase : such as :- (1) Customs Duty (2) Ocean Freight Charges (3) Clearing & Forwarding Charges (4) Transport Charges Etc., How can the traders will assume which products are included such cost of Expenditures with certain percentage ? Let us see how it is possible to ascertain each product includes certain cost of Expenditures. 2
- 3. Master Mind Solutions Tally Lesson : Purchase Added Cost Method TACP Party Name :- Intel Asia Limited Import Purchase No Product Name Model Qty Value % Customs Ocean C & F Transport Total Per Unit 1 Ashok Leyland 25 Hp 10 1,638,438 25.25 413,706 16,013 12,436 6,563 2,087,156 208,716 2 Kirloskar Alternator 25 Kva 10 1,466,938 22.35 327,861 16,013 12,436 6,563 1,829,811 182,981 3 Battery Excide 800 Ah 10 413,438 18.45 76,279 13,724 10,658 5,624 519,723 51,972 Sub Total 30 3,518,814 - - Customs Duty 8,17,846.00 817,846 - Ocean Freight Charge 45,750.00 45,750 Clearing & Forwarding 35,530.00 35,530 - Transport Charges 18,750 18,750 Grand Abstract 4,436,690 4,436,690 3 Let us see the TACP in Excel Work Sheet:- The Import Products are :- (a) Product-> Ashok Leyland ->Engine ->Qty ->10 No's------------- -> Value ` 16,38,438-00 (b) Product- > Kirloskar ->Alternator ->Q ty -> 10 No’s---------------->Value` 14,66,938-00 (c) Product- > Excide -> Battery -> Qty -> 10 No’s---------------------->Value.`...4,13,438-00 Total Purchase Invoice Cost of Import Purchase--------------------------> Value `.35,18,814-00 The Nature of other Expenditure involved in Import Purchase : such as :- (1) Customs Duty Value ->……………………………………………………………..…` 8,17,846-00 (2) Ocean Freight Charges Value->…………….......................................…` 45,750-00 (3) Clearing & Forwarding Charges Value->….......................................` 35,530-00 (4) Transport Charges Etc., Value->…………..........................................`. 18,750-00 Total Cost of Expenditure involved in Import Purchase-?........................ `.9,17,876-00 This Work Sheet will guide you how to calculate the TACP In Product wise / Per Quantity wise The very same method Let us do the TACP in Tally Erp9
- 4. 4 TACP How to arrive TACP Calculations Tally Configuration Features will adopt TACP settings Option One :- Change the Features & Configuration Option Two:- Create Separate Voucher -> Purchase Voucher “ TACP” Option Three :- Create -> Party Ledger -> (Sundry Creditors) Purchase Imports-> Purchase Expenditure Ledgers -> Direct Expenditures :- Such as :- Customs Duty->Ocean Freight Charges->Clearing & Forwarding Charges->Transport Charges->Rounding Inventory Items Askok Leyland Engine Kirloskar Alternator Battery Excide How to Enter the TACP in Purchase Voucher Mode Gateway of Tally Press F12 Configuration Key Select “ Invoice / Delivery Note / Order Configuration -> Invoice Configuration window will appear In General Lay-Out Say “ NO” to Use Common Ledger Account For Item Allocation Enter & Get to Next
- 5. Let us see How to Enter the TACP in Purchase Voucher Mode Gateway of Tally Select Accounting Vouchers Then Select Purchase Invoice in -> Voucher Mode Note:- The Ledgers are already Created for Quick Access of TACP Viz., Party Name…Purchase Account…Product Names….Expenditure Ledgers etc., Get to Next 5
- 6. Gateway of Tally Enter to Accounting Voucher…Press F9 Key -Purchase Invoice will appear Select “ As Voucher Mode” as above Step (1) Purchase Invoice Voucher Mode shows in Blank Field Lay Out Consists of :- Serial Numbers. Purchase 01 -> Date -> 01-April 2014 Step (2) Cr ( Credit ) Field will Appear First -> Select Party Name :- Intel Asia Limited. Step (3) Type Total Product Purchase Amount -> `35,18,814-00 in Credit Field Amount. Enter to Next Field ->Reference-> Type “Greetings “ Enter -> Pop Up box will appear. 6 Step -1 Step -2 Step -3
- 7. Gateway of Tally You are in Purchase :- Invoice Voucher Mode Picture One ( Credit ) Field Appear First -> Select Party Name :- Intel Asia Limited. Enter Total Product Purchase Amount -> `35,18,814-00 in Credit Field Amount. Tally will guide you to the -> Lay Out :- “ Bill Wise Details ” The Options :- New Reference Name Field :- Type “ Greetings” -> is important Option. And Days :-Type Days - 30 -> This option will render Aging Analysis Picture Two ( Debit) Field Select Name of Ledger Account ”Purchase :- Imports” From the List of Ledger Accounts Next Enter to Capture Item Allocation Pop up Window … 7 Picture-1 Picture-2
- 8. 8 Gateway of Tally You are in Purchase :- Invoice Voucher Mode <- Slide After Selecting of “Purchase Imports” Ledger Tally guide you to Inventory Allocations for :- Purchase Imports The List of Items are :- (1) Ashok Leyland Engine ……(2) Battery Excide Super Power …..(3) Kirloskar Alternator Select one Inventory Item : - “ Ashok Leyland Engine ” -> 10 No's…. “ Battery Excide Super Power “ ->10 No's ….. “ Kirloskar Alternator ” ->10 No's After Selecting of “Purchase Imports” Ledger Tally invite you to Inventory Allocations for :- Purchase Imports Select Inventory Name of Item : “ Ashok Leyland Engine 25 HP” …10 No’s <- Slide Item Allocations for -> “ Ashok Leyland Engine 25 HP Select Godown -> Main Location….Quantity-> Type 10 No’s Rate per Unit As Per Purchase Value -> ` 1,63,843.80….Total Quantity 10 No’s -> ` 16,38,438-00 Enter to Next ..
- 9. 9 Tally invite you to Inventory Allocations for :- Purchase Imports Slide Previous Item Allocations for -> “ Ashok Leyland Engine 25 HP Select Godown -> Main Location….Quantity-> Type 10 No’s ….Rate per Unit As Per Purchase Value -> ` 1,63,843.80 Total Quantity 10 No’s -> ` 16,38,438-00 Current Slide How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine “ Type of Cost” -> Press Space Bar -> Pop up window will appear -> …. List of Ledger Accounts will appear as above Select Additional Cost of Expenditure From the Ledger Accounts :- “Customs Duty” Press Enter to Next Field Percentage %.. How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine Enter To :- “ Type of Cost” -> List of Ledger Accounts - > Select Additional Cost of Expenditure From The List of Ledger Accounts :- “Customs Duty” Current Slide :- Additional Cost “ Customs Duty” ->… Percentage Field :- Type “25.25%” Tally will Calculate “Customs Duty” the Sum `.16,38,438-00 @ 25.25% =`.4,13,705.60 Ashok Leyland Engine Cost Amount ---------> `.16,38,438-00 Add Customs Duty -------------------------------->`. 4,13,705.60 As on (Product Customs Duty ) Total Cost --->`.20,52,143-60 Press Enter to Next Item Allocation...
- 10. 10 How to include Additional cost of expenditure for :- Enter To :- “ Type of Cost” -> List of Ledger Accounts -> Select Additional Cost of Expenditure “ Type of Cost” -> List of Ledger Accounts…. Select Additional Cost of Expenditure :- “Ocean Freight Charges” Slide Ashok Leyland Engine Actual Cost Amount -----------------------> `.16,38,438-00 Previous Customs Duty Additional Cost ---------------------------->`. 4,13,705-60 Select -> Additional Cost “ Ocean Freight Charges” -> Rate---->`. 16,013-00 As on (Product + Customs + Ocean Freight ) Total Cost -------->`.20,68,156-60 Press Enter to Next Item Allocation. How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine 25 HP Enter To :- “ Type of Cost” -> List of Ledger Accounts Select Additional Cost of Expenditure :- “Clearing & Forwarding Charges” Slide Ashok Leyland Engine Actual Cost Amount -------------------------> `.16,38,438-00 Previous :-Additional Cost of -> Customs Duty ----------------------->`. 4,13,705-60 Previous:- Additional Cost -> “Ocean Freight Charges” ->--------->`. 16,013-00 Select -> Additional Cost “ Clearing & Forwarding Charges”---->`. 12,436-00 Total Cost :- ( Product Cost + Additional Expenditure)------------->`.20,80,592-60 Press Enter to Next Item Allocation.
- 11. 11 Gateway of Tally You are in Purchase :- Invoice Voucher Mode How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine 25 HP -> 10 No’s Enter To :- “ Type of Cost” -> Pop up window will appear Select-> List of Ledger Accounts Select Additional Cost of Expenditure :- “Transport Charges” Slide Above Ashok Leyland Engine Actual Cost Amount -------------------------------------> `.16,38,438-00 TACP:- ( Product Cost + Additional Expenditure)------------------------------>` 4,48,717-60 Total Cost :- ( Product Cost + Additional Expenditure)------------------------>`.20,87,155-60 Note:- Ashok Leyland Engine’s Additional Cost of Expenditure is Completed …….Enter to Next Cost “ Rounding”….. Gateway of Tally You are in Purchase :- Invoice Voucher Mode How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine 25 HP -> 10 No’s Enter To :- “ Type of Cost” -> Pop up window will appear Select-> List of Ledger Accounts Select Additional Cost of Expenditure :- “Rounding” Slide Above Ashok Leyland Engine Actual Cost Amount -------------------------------------> `.16,38,438-00 Previous (Product + Customs + Ocean + C&F + Transport ) Total Cost ->`. 4,48,718-00 Select -> Additional Cost “ Rounding” -> ----------------------------------------------->`. 00-40 (-) Now (Ashok Leyland + Additional Cost) Total Cost --------------------------->`.20,87,156-00 Press Enter to Next Item Allocation.
- 12. 12 Gateway of Tally You are in Purchase :- Invoice Voucher Mode Above Slide Item Name : Ashok Leyland Engine 25 HP…10 No’s Purchase Cost………………………....`. 16,38,438-00 Additional Cost …………………..….`. 4,48,718-00 TACP of Ashok Leyland Engine …`.20,87,156-00 This is the Completion TACP -> Product “ Ashok Leyland Engine 25 Hp” The next blank filed Select the next product & Additional Costs Press Enter to Next Slide Tally Guide You
- 13. 13 Gateway of Tally You are in Purchase :- Invoice Voucher Mode Earlier Slide Select Additional Cost of Expenditure :- “Transport Charges ” Products Cost ------------------------> `.14,66,938-00 Add Customs Duty-------------------->`.. .3,27,860-64 Add Ocean Freight Charges--------->` . . 16,013-00 Add Clearing & Forwarding --------> `. 12,436-00 Add Transport Charges ---- --------> ` . 6,563-00 Rounding----------------------------------------->`. 0.36 Paise Total Cost TACP------------------------->`.18,29,2811-00 This is the completion of Track Additional Charges For “ Kirloskar Alternator’ Press Enter to Next Purchase Invoice Main Frame. Gateway of Tally You are in Purchase :- Invoice Voucher Mode How to include Additional cost of expenditure for :- Item “ Battery Excide Super Power > 10 No’s Enter To :- “ Type of Cost” -> Pop up window will appear Select-> List of Ledger Accounts Select Additional Cost of Expenditure :- “ Rounding ” Current Slide :- Additional Cost “ Rounding “ -> Percentage Field :- Type `.(-) Minus 0.31 Paise Battery Excide Super Power Cost Amount --------> `.4,13,438-00 Previous Additional Cost of Expenditure ------------>`. 1,06,285-00 As on Total Cost ------------------------------------------>`. 5,19,723-00 Press Enter to Next Item Allocation. “ Rounding ” This is the completion of Track Additional Charges For “Battery Excide Super Power” Press Enter to Next Purchase Invoice Main Frame.
- 14. 14 Gateway of Tally You are in Purchase :- Invoice Voucher Mode Party Name-> Intel Asia Limited -> Sundry Creditors Purchase Account -> Purchase Imports S.No Product Name Purchase Cost Customs Duty Ocean Freight Clearing Transport TACP Total Cost Inventory Item Fields Follow:- 1 Engine 1,638,438.00 413,705.00 16,013.00 12,436.00 6,563.00 448,717.00 2,086,956.00 2 Alternator 1,466,938.00 327,860.64 16,013.00 12,436.00 6,563.00 362,872.64 1,829,811.00 3 Battery 413,438.00 76,279.31 13,724.00 10,658.00 5,624.00 106,285.31 521,722.00 Total….> 3,518,814.00 817,844.95 45,750.00 35,530.00 18,750.00 917,874.95 4,436,690.00 We have finished the entries of Inventory Items above Let us see the Other Expenditure Accounts. Customs Duty Ocean Freight Charges Clearing & Forwarding Charges Transport Charges Rounding Press Enter to Next Slide Tally Guide You
- 15. 15 Gateway of Tally You are in Purchase :- Invoice Voucher Mode Invoice Date-> 14/04/2014 Ref Field-> “ Greetings” Party Name-> Intel Asia Limited -> Sundry Creditors Purchase Account -> Purchase Imports Inventory Item Fields Follow:- (1) Ashok Leyland Engine -> Nos.10-> Cost Amount->Rs.16,38,438-00-->Actuals Rs.20,86,956-00 (2) Kirloskar Alternator -- -> Nos.10-> Cost Amount->Rs.14,66,938-00-->Actuals Rs.18,29,811-00 (3) Battery Excide Super- -> Nos.10-> Cost Amount->Rs..4,13,438-00-->Actuals Rs..5,21,722-00 Yes We have finished the entries of Inventory Items above Let us see the Other Expenditure Accounts. Credit Account Enter Amount Customs Duty->Rs.8,17,845-00 Credit Account Enter Amount Ocean Freight Charges->Rs.45,750-00 Credit Account Enter Amount Clearing & Forwarding Charges->Rs.35,530-00 Credit Account Enter Amount Transport Charges->Rs.18,751-00 Press Enter to Next Slide Tally Guide You
- 16. 16 Party Name-> Intel Asia Limited -> Sundry Creditors Purchase Account -> Purchase Imports Inventory Item Fields Follow:-Ashok Leyland Engine Cost Amount->Rs.16,38,438-00-->Actuals Rs.20,86,956-00 Party Name-> Intel Asia Limited -> Sundry Creditors Purchase Account -> Purchase Imports Inventory Item Fields Follow:-Kirloskar Alternator Cost Amount->Rs.14,66,938-00-->Actuals Rs.18,29,811-00 Party Name-> Intel Asia Limited -> Sundry Creditors Purchase Account -> Purchase Imports Inventory Item Fields Follow:- Battery Excide Super Power Cost Amount->Rs.4,13,438-00-->Actuals Rs.5,19,723-00