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TRACKADDTIONAL

COST OFPURCHASE

T A C P

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.

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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

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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

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TACPHow 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 TallyPress F12 Configuration Key

Select “ Invoice / Delivery Note / Order Configuration -> Invoice Configuration window will appearIn General Lay-Out

Say “ NO” to Use Common Ledger Account For Item Allocation Enter & Get to Next

Let us see How to Enter the TACP in Purchase Voucher Mode

Gateway of TallySelect Accounting Vouchers

Then Select Purchase Invoice in -> Voucher ModeNote:- The Ledgers are already Created for Quick Access of TACP

Viz., Party Name…Purchase Account…Product Names….Expenditure Ledgers etc.,Get to Next

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Gateway of TallyEnter to Accounting Voucher…Press F9 Key -Purchase Invoice will appear

Select “ As Voucher Mode” as aboveStep (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.

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Step -1

Step -2

Step -3

Gateway of TallyYou 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 AccountsNext Enter to Capture Item Allocation Pop up Window … 7

Picture-1

Picture-2

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Gateway of TallyYou are in Purchase :- Invoice Voucher Mode

<- Slide After Selecting of “Purchase Imports” Ledger

Tally guide you to Inventory Allocations for :- Purchase ImportsThe 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 ..

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Tally invite you to Inventory Allocations for :- Purchase ImportsSlide 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 ---------> `.16,38,438-00Add Customs Duty -------------------------------->`. 4,13,705.60As on (Product Customs Duty ) Total Cost --->`.20,52,143-60

Press Enter to Next Item Allocation...

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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 -----------------------> `.16,38,438-00Previous Customs Duty Additional Cost ---------------------------->`. 4,13,705-60Select -> Additional Cost “ Ocean Freight Charges” -> Rate---->`. 16,013-00As 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 HPEnter To :- “ Type of Cost” -> List of Ledger Accounts Select Additional Cost of Expenditure :-

“Clearing & Forwarding Charges” Slide

Ashok Leyland Engine Actual Cost Amount -------------------------> `.16,38,438-00Previous :-Additional Cost of -> Customs Duty ----------------------->`. 4,13,705-60Previous:- Additional Cost -> “Ocean Freight Charges” ->--------->`. 16,013-00Select -> Additional Cost “ Clearing & Forwarding Charges”---->`. 12,436-00Total Cost :- ( Product Cost + Additional Expenditure)------------->`.20,80,592-60

Press Enter to Next Item Allocation.

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Gateway of TallyYou are in Purchase :- Invoice Voucher Mode

How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine 25 HP -> 10 No’sEnter 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)------------------------------>` 4,48,717-60Total 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 TallyYou are in Purchase :- Invoice Voucher Mode

How to include Additional cost of expenditure for :- Item “ Ashok Leyland Engine 25 HP -> 10 No’sEnter To :- “ Type of Cost” -> Pop up window will appear Select-> List of Ledger Accounts

Select Additional Cost of Expenditure :- “Rounding”

Slide AboveAshok Leyland Engine Actual Cost Amount -------------------------------------> `.16,38,438-00Previous (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.

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Gateway of TallyYou are in Purchase :- Invoice Voucher Mode

Above Slide Item Name : Ashok Leyland Engine 25 HP…10 No’s

Purchase Cost………………………....`. 16,38,438-00Additional Cost …………………..….`. 4,48,718-00TACP 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

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Gateway of TallyYou are in Purchase :- Invoice Voucher Mode

Earlier SlideSelect Additional Cost of Expenditure :- “Transport Charges ”

Products Cost ------------------------> `.14,66,938-00Add Customs Duty-------------------->`.. .3,27,860-64Add Ocean Freight Charges--------->` . . 16,013-00Add Clearing & Forwarding --------> `. 12,436-00Add Transport Charges ---- --------> ` . 6,563-00

Rounding----------------------------------------->`. 0.36 PaiseTotal 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 ModeHow 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 AccountsSelect Additional Cost of Expenditure :- “ Rounding ”

Current Slide :-Additional Cost “ Rounding “ -> Percentage Field :- Type `.(-) Minus 0.31 Paise

Battery Excide Super Power Cost Amount --------> `.4,13,438-00Previous Additional Cost of Expenditure ------------>`. 1,06,285-00As 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.

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Gateway of TallyYou are in Purchase :- Invoice Voucher Mode

Party Name-> Intel Asia Limited -> Sundry CreditorsPurchase Account -> Purchase Imports

Inventory Item Fields Follow:-

We have finished the entries of Inventory Items aboveLet us see the Other Expenditure Accounts.

Customs Duty Ocean Freight Charges

Clearing & Forwarding Charges Transport Charges

RoundingPress Enter to Next Slide Tally Guide You

S.No Product Name Purchase Cost Customs Duty Ocean Freight Clearing Transport TACP Total Cost

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

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Gateway of TallyYou are in Purchase :- Invoice Voucher Mode

Invoice Date-> 14/04/2014Ref Field-> “ Greetings”

Party Name-> Intel Asia Limited -> Sundry CreditorsPurchase 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

YesWe 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.18,751-00Press Enter to Next Slide Tally Guide You

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Party Name-> Intel Asia Limited -> Sundry CreditorsPurchase Account -> Purchase Imports

Inventory Item Fields Follow:-Ashok Leyland EngineCost Amount->Rs.16,38,438-00-->Actuals Rs.20,86,956-00

Party Name-> Intel Asia Limited -> Sundry CreditorsPurchase Account -> Purchase Imports

Inventory Item Fields Follow:-Kirloskar AlternatorCost Amount->Rs.14,66,938-00-->Actuals Rs.18,29,811-00

Party Name-> Intel Asia Limited -> Sundry CreditorsPurchase Account -> Purchase Imports

Inventory Item Fields Follow:- Battery Excide Super PowerCost Amount->Rs.4,13,438-00-->Actuals Rs.5,19,723-00