Price Drop

Price Drop

What is Price Drop? & Step-by-Step Guide to Price Drop Transactions

Purpose: To Increase or Decrease the Amount for a Particular Invoice  

Explanation:  

The price drop will mostly used in mobile business, the main mechanism for adjusting the original bill from a supplier following a price drop, which results in the supplier issuing a credit note.

This purpose refers to the business need or process where adjustments are made to an existing invoice to either increase or decrease the total invoice amount due to valid operational, accounting, or customer-related reasons.

These adjustments are typically performed to ensure that the invoice reflects the correct and accurate transaction value after identifying discrepancies or changes post-billing.


Steps to "Auto" Price drop in Purchase

1.Go to Inventory->More->Price Drop

 

2.Choose the Transaction type as Purchase and mode as Auto. Choose the invoice number.
 

 

3.Choose the operation as Increase or Decrease.
  • If selected "increase" for the invoice you can increase the amount.
  • If selected "Decrease" for the selected invoice you can decrease the amount.
 

 

 

4.Give enter and choose the item from particular invoice.

 

5.Enter the Assessable value you want to increase /decrease which effects only the amount then click on Add.
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6.After adding the items ,Details will be displayed verify and Click on "Save"
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Steps to Proceed with "Manual" mode

1. Choose the Location and set the Transaction Type as "Purchase".

  • Select the Mode as "Manual".

  • In Manual mode, you need to select theSupplier from the drop-down lists.

  • Select the "Operation" Increase/ Decrease

  • You need to enter the "Invoice no" & "Invoice Date" manually.

 

2.Click on Enter in the "Item" and Search for the Item from dropdown.

 

3.Enter the Assessable value you want to increase /decrease which effects only the amount then click on Add.
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4.Click on "Save" to add the price drop for the item.

 

Price Drop ( Auto mode) Sales

1.Choose the Transaction type as Sales and mode as Auto. Give enter and Choose the invoice number.Choose the operation as Increase or Decrease.
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2.Give enter and choose the item from particular invoice
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3.Enter the Assessable value you want to increase /decrease which effects only the amount then click on Add.

 

4.Click on Save the invoice.

 

Price Drop (Manual Mode) in Sales

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1. Choose the Location and set the Transaction Type as "Sales".

  • Select the Mode as "Manual".

  • In Manual mode, you need to select the "Customer" from the drop-down lists.

  • Select the "Operation" Increase/ Decrease

  • You need to enter the "Invoice no" & "Invoice Date" manually.

 

 

2.Give enter and choose the item from Sales invoice

 

3.Enter the Assessable value you want to increase /decrease which effects only the amount then click on Add and click on "Save".

 

 

Report:
Refer to the "Price Drop" report for detailed information.

Steps: Go to Reports ->Select Inventory ->Click on Price Drop

 

 

To check in GSTR

Go to Tools-> Gst Efiling

For sales can check the report in GSTR1 ->Credit /Debit Note

For purchase can check the report in GSTR2 ->Credit /Debit Note

 

To check in accounts

 

Go to Reports->Account books->Day book

 

FAQ -   

how the price drop manual and auto mode will work

 

Purchase Auto mode - Auto mode will work based on the purchase entry which you made in TruePOS, based on the invoice number you can see the items in LOV to price drop/increase

 

Purchase Manual mode - Manual mode will work based on the opening stock entry which you made in TruePOS, based on the opening stock items will show in LOV to price drop/increase, if there is no opening stock transaction for the respective item it want show in price drop manual mode

 

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