Price Levels and Price List in tally

A Price List refers to a list of items maintained by an organization along with their price details A price list is generally used by organizations which deal in multiple products. Price Lists are maintained in various structures for different types of buyers (customers), for example, Wholesalers, Dealers, Retailers, etc.

The price list is structured based on the classification of buyers and is referred to at the time of making sales. Whenever the sale prices change (on the basis of time), the changes reflect in the Price List also. In case of bulk sales discounts can also be given to the buyers.

Price Lists are useful for order and invoices. An up-to-date price list helps in decision-making even at the lower levels of the organization and quickens the sales process.

How to enable price levels in tally?

For Tally Prime Users follow the given steps as below.

Gateway of tally —–> Press F11 (features) ——> Enable multiple price levels ——> Yes

How to Create Price levels?

Gateway of tally —-> Create —–> Price levels

1) Customer

2) Retails

3) Wholesales

4) Dealer

How to Create Stock group?

Gateway of tally —–> Create ——> Stock Group

1) Electronic

2) Mobile

How to Create Stock Category?

Gateway of tally —–> Create ——> Stock Category

1) Canon

2) Motorola

How to Set Price of Stock Group or Stock Category according to Retail or Wholesale?

Gateway of tally —–> Create —–> Select Stock Group or Stock Category

1) Stock Group name —–> Electronic

2) Price Level —–> Select Retail or Wholesales (As required)

3) Applicable From —–> 01/04/2021 (As Required)

Below Steps are for tally Erp9 Users only

Gateway of Tally —–> F11 Features —–> Inventory Features

Use Multiple Price Levels —–>  Yes

Company Price Levels

1. Wholesale
2. Retail

Gateway of Tally —->  Inventory Info —–> Stock Items ——> Create

1. Digital Camera (Electronics)
2. Motorola E3 Power (Mobile)
3. Moto Power one (Mobile)

Gateway of Tally   —–> Inventory Info ——-> Price List —–>          

Stock group Name —–> Electronics / Motorola (as required) 

Price level ——> Retail 

Applicable from ——-> 2-4-2020 (from which this rate will show while sales entry)

Same Way Change retail to wholesales and put the following value.

Do the following entry of Sales voucher According to Retail price level

Ques:- Company sold 5 digital camera, 8 Motorola E3 Power with 6% discount and 4 Moto power one with 4% of discount to Gala Stationery Shop on 1/5/2020 with retail price level and bill no as gala/01/20.

On 1/6/2020 company received full due amount against bill no gala/01/20 by cheque (000123) of kotak bank. Record the transaction and show the report.

Gateway of Tally —–> Accounting Vouchers—–> Sales Voucher (F8)

Party’s A/c Name: – Gala Stationery Shop

Price Level: Retail

Sales Ledger:- Sales a/c

Note: The Rate, discount & amount would show automatically according to the price lists given.

Receipt Voucher (F6):-

Account:  Kotak Bank

Particulars: Gala Stationery Shop

Amount: —- (Against Ref)

Do the following entry of sales voucher According to Wholesales price level

Ques:- Company sold 53 digital camera, 82 Motorola E3 Power with 5.2% discount and 46 Moto power one with 2.6% of discount to Novelty Stores on 1/5/2020 with wholesales price level and bill no as gala/012/20.

On 1/6/2020 company received full due amount against bill no gala/012/20 by cheque (000123) of Kotak bank. Record the transaction and show the report.

Gateway of Tally —–> Accounting Vouchers—–> Sales Voucher (F8)

Party’s A/c Name: – Novelty Stores

Price Level: wholesale

Sales Ledger: – Sales a/c

Note: The Rate, discount & amount would show automatically according to the price lists given.

Receipt Voucher (F6): –

Account:  Kotak Bank

Particulars: Novelty Stores

Amount: —- (Against Ref)