I have seen a lot of your video's online and have learnt tally purely from your video's and tally academy notes that i found online.
I run a small textile retail store and am making my accounts on tally for the first time.
As I am a small retailer, I do not want to take inventory on tally as of now. So am working on creating my "accounts only" company in tally.As a retailer, I do accept credit cards as a mode of payment and some customers pay be partly by cash and partly by card for the same bill.On swiping a customer's credit card, i get this amount the very next day in my bank account(in my current account where i do have many other transactions also.)
The merchant fees charged by the bank for the credit card terminal are as follows:
debit card 1%
credit card: 1.65%
The problem that I am stuck at is how to account the credit card payments that i receive from my customers.
Part 1: What ledger accounts should i create and how should i make the entry for credit card sales.
Part 2: As I am not having inventory, tally does not give me the option of activating POS.
When customers make payments partly in cash and partly by credit card the general book entry would be:
dr cash 1000
dr bank 1000
to sales 2000
But tally does not allow me to make such an entry in the sales invoice. Please suggest.
Your help would be highly appreciated.