Price Lists in TallyPrime: 5 Easy Steps + Example

A price list in TallyPrime is a predefined set of prices for different products or services.

It helps in maintaining consistent pricing across various sales transactions.

You can create multiple price lists to cater to different customer segments, promotional offers, or regional variations.

1. Creating a Price List in TallyPrime

1. Go to Masters:

• Open TallyPrime and go to Gateway of Tally.
• Press Alt+M to access the Masters menu.

2. Create a Price List:

• Select Inventory Masters and then Price Lists.
• Press Alt+C to create a new price list.

3. Enter Details:

• Enter a unique name for the price list.
• Set the effective date for the price list.

4. Add Items:

• Select the stock items for which you want to define prices.
• Enter the specific price for each item in this price list.

5. Save the Price List:

Press Ctrl+A to save the price list.

2. Assigning a Price List to a Sales Invoice in TallyPrime

1. Create a Sales Invoice:

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

2. Enter Party Details:

Select the customer for whom you want to create the invoice.

3. Add Items:

• Add the items to the invoice.
• The system will automatically populate the price from the assigned price list.

4. Save the Invoice:

Press Ctrl+A to save the invoice.

3. Example of Price Lists in TallyPrime

Let’s say you have two price lists: “Retail” and “Wholesale”.

• Retail Price List:
  • Product A: Rs. 100
  • Product B: Rs. 50
• Wholesale Price List:
  • Product A: Rs. 80
  • Product B: Rs. 40

When you create a sales invoice for a retail customer, you would select the “Retail” price list.

Similarly, for a wholesale customer, you would select the “Wholesale” price list.

4. Benefits of Using Price Lists in TallyPrime:

• Consistent Pricing: Ensures consistent pricing across different sales transactions.
• Efficient Data Entry: Reduces manual data entry and minimizes errors.
• Flexible Pricing Strategies: Allows you to implement different pricing strategies for different customer segments.
• Improved Reporting: Provides better insights into sales performance and profitability.

By effectively using price lists in TallyPrime, you can streamline your sales process, improve accuracy, and enhance your business operations.