Vocher entry major types

In Tally , Voucher entry consist of mainly two types I) material in & out II) Amount in & out.

In each type sub varieties are there as below

I) Material In & Out

1. Sales voucher
2. Purchase voucher
3. Goods receipt notes
4. Rejection in
   
5. Rejection Out
6. Delivery notes Etc.

II) Amount In & Out

1. Receipts
   
2. Payments
3. Contra
4. credit notes
5. Debit notes
6. Commission
   
7. Discounts. Etc

If we learn OR understand mainly Sales, Purchase, Payment & Receipts entry, Then all other entry are similar to above entry only relevant situation different names are there.

Contra Entry (F4)

Gateway of Tally > Accounting Vouchers > selecting F4: Contra > displays the Contra voucher entry screen. As per accounting rules, Contra Entry is a transaction indicating transfer of funds from:

1. Cash account to Bank account

2. Bank account to Cash account

3. Bank account to Bank account

Contra Entry screen appears in the Single Entry Mode by default. You are prompted to choose the account, which will receive the amount (the debit ledger).

For example, you wish to transfer of funds from Cash Account into Bank Account – you will debit the Bank Account and credit the Cash Account > the entry appears as:

The ledger selected in "Account" (Axis bank ltd) is the destination ledger – debited.

Advantages of Single Entry Mode:

1. Faster data entry!

2. Selection of Multiple Ledgers to be credited with a Single Ledger to be Debited OR Multiple Ledgers to be debited with a Single Ledger to be Credited -> depending on the nature of transaction.

Receipt Entry (F6)

Gateway of Tally > Accounting Vouchers > selecting F6, we get the Receipt voucher screen. Similar to Payment and Contra vouchers – the Single Entry Mode appears for Receipt Entry as well.

Transactions accounting for money received are entered into Tally through the receipt voucher.

For example, your company receives money from a customer for an earlier transaction. The customer account has to be credited and if cash is received – debit the cash account. If cheque is received debit the bank account where you will deposit the money received.

The entry in single-entry mode is displayed as:

First enter date of voucher ...................................29.1.2009
Then is it cash account or bank account..... select from pop up window ..............Cash
Then from whom cash / cheque is received....... select from pop up window .............Furniture Grace.
Then enter the amount................................................................... 500
Then enter narration .................Being discount amount received.

Then.............. Accept ok ..................... Enter

Your receipt voucher is saved.

On the Receipt entry screen, access F12: Configure -> activate the option "Use Payment/Receipt as Contra" – the behaviour is similar to that of Payment entry as Contra.

Important:
1. Use the buttons on the right-hand side of the screen to Explore the Potential of Tally.
2. Press [Enter] wherever the cursor is placed to know the Depth of Tally!

Voucher entry

A voucher is the basic recording document. To input any data into Tally, you must use a voucher. Inputting data through the voucher entry mode may be called creating a voucher or voucher entry. You may create a voucher on-line on Tally and print it for hard copy and authentication

Vouchers/Transactions are used to enter/record a transaction in Tally.

Gateway of Tally > Accounting Vouchers

This will open the Accounting Voucher Creation screen


Tally is pre-programmed with a variety of accounting vouchers, each designed to perform a different job. The standard vouchers are:

Payment Voucher

Receipt Voucher

Contra Voucher

Sales voucher

Sales Orders

Sales Vouchers/Invoices

Delivery Notes

Rejection In

Purchase Voucher

Purchase Orders

Purchase Vouchers

Goods Receipt Notes

Rejection Out

Journal Voucher

Credit Notes

Debit Notes

Journal

Memo Voucher

Reversing Journal

Stock Journal

Physical Stock

You can alter these vouchers to suit your company, and also create new ones. For example, if you wish to distinguish between cash and bank payments you can create vouchers to do this.

The function of each voucher type explained next posts.