Tally Erp9 Lesson 14 Working With (POS) In Tally

  Module 14: Working with Point of Sale (POS) in Tally

Introduction to POS in Tally

Point of Sale (POS) is an essential function for businesses that engage in retail sales, allowing transactions to be completed quickly and efficiently. Tally ERP provides a robust POS module to manage retail sales, integrate with inventory, and generate necessary reports.

In this section, we will cover:

What POS is and why it is important for retail operations.

How to set up and configure the POS system in Tally.

How to record sales using the POS system in Tally.

Key Concepts:

POS Terminal: The hardware and software used to process sales transactions.

POS Invoice: The invoice generated for a sale using the POS system.

Integration with Inventory: Every POS sale automatically adjusts the inventory stock levels in Tally.

Setting Up POS in Tally

Before using the POS feature in Tally, the system needs to be configured. Follow these steps:

Enable POS in Tally:

Go to Gateway of Tally > F11: Features > F2: Inventory Features.

Set Enable Point of Sale (POS) Invoicing to Yes.

Creating a POS Ledger:

Navigate to Gateway of Tally > Accounts Info > Ledgers > Create.

Create a ledger for POS sales under the Sales account group.

Creating a POS Voucher Type:

Go to Gateway of Tally > Accounts Info > Voucher Types > Create.

Name the voucher type as POS Invoice.

Set Type of Voucher to Sales and enable Use for POS Invoicing.

Configuring POS Payment Modes:

Create separate ledgers for different payment modes such as cash, credit card, and e-wallets (for example, Cash Ledger, Bank Ledger, etc.).

Go to Gateway of Tally > Accounts Info > Ledgers > Create and assign them under appropriate groups like Bank Accounts or Cash-in-Hand.

Example: A retail store sets up a POS system to handle cash, card, and mobile wallet payments. In Tally, they create ledgers for:

Cash-in-hand (Cash Sales)

HDFC Bank (Card Payments)

PayTM (Mobile Wallet)

Recording POS Invoices in Tally

Once the POS system is set up, recording sales through POS is simple. Follow these steps:

Select the POS Voucher:

Go to Gateway of Tally > Accounting Vouchers > F8 (Sales).

Choose POS Invoice as the voucher type.

Record the Sale:

Enter the item(s) being sold, along with the quantity and price.

Choose the appropriate payment mode (Cash, Card, or Wallet).

The system will automatically adjust the inventory and record the transaction.

Print the POS Invoice:

After recording the sale, you can print the invoice directly by pressing Alt + P.

Example: A customer purchases two T-shirts and pays by credit card. The sales representative selects the items from inventory, enters the card payment method, and prints the POS invoice. The stock for the T-shirts is automatically reduced, and the sales ledger is updated.

Generating POS Reports

Tally allows you to generate various reports related to POS sales. These reports help you analyze your sales, track inventory movement, and monitor cash flow. Follow these steps to generate reports:

POS Sales Report:

Go to Gateway of Tally > Display > Daybook.

Filter the transactions by selecting the POS voucher type.

You can view the sales made through POS, categorized by payment mode (cash, card, wallet).

POS Inventory Report:

Go to Gateway of Tally > Display > Inventory Books > Stock Summary.

The stock summary will show the reduction in inventory for items sold through POS.

Cash Flow Report:

Navigate to Gateway of Tally > Display > Cash/Bank Books > Cash Flow.

This report shows cash inflows and outflows based on POS transactions.

Example: At the end of the day, the retail store manager generates a POS sales report to analyze the total sales for the day. They can see how much revenue came from cash sales, card payments, and e-wallet transactions. The inventory report also shows which items are running low in stock.

Practical Exercises

Exercise 1: Setting Up a POS System in Tally

Enable the POS feature in Tally.

Create ledgers for the following:

Cash Sales

Card Payments (create under Bank Accounts)

E-wallet (PayTM)

Create a POS Voucher type and assign it to sales.

Set up your inventory items (T-shirts, Shoes, etc.).

Task:

Record a sale for 3 items paid via cash and another sale paid via a credit card.

Exercise 2: Recording POS Sales

Using the POS voucher created in Exercise 1, record the following transactions:

A customer buys 5 items and pays by cash.

Another customer purchases 2 items using PayTM.

Task:

After recording, generate a Daybook report and analyze the sales.

Exercise 3: Generating POS Reports

Generate a POS Sales Report for the transactions you recorded.

View the stock summary to verify the reduction in inventory.

Check the Cash Flow Report to analyze the cash inflows.

Practical File for Exercises

To help you better understand the process, you can use the following pre-configured data in Tally for practical exercises:

Download Link: [POS_Practice_File.zip]

This file includes:

A company with ledgers already set up for POS sales, payment methods (cash, card, and wallet), and inventory items.

You can import this into Tally to begin your exercises directly.

Steps to Import File:

Download and extract the ZIP file.

Open Tally ERP, go to Gateway of Tally > Import Data > Vouchers.

Browse and select the extracted file and press Enter.

The data will be imported, and you can proceed with the exercises.

Conclusion

The POS module in Tally is a powerful tool for retail businesses. It allows you to manage sales efficiently, track inventory, and generate reports for analysis. By following the steps and completing the exercises, you will have a hands-on understanding of POS in Tally and be able to manage retail sales effectively.