Sales Entry (F8)

When a sales transaction takes place, a document, detailing the transaction (item name, tax, etc) has to be given to the buyer (debtor) as proof of purchase by him. This document is called "Invoice" or "Bill" or "Cash Memo". The practice of issuing an Invoice, which is in vogue, is available in Tally.

Gateway of Tally > Accounting Vouchers > selecting F8, Tally displays the Sales Invoice screen. The Invoice mode is default. To enter details of sale transactions – use Tally's Sales entry (F8 – in Accounting Vouchers).

Sales entries can be made in the Voucher as well as Invoice Formats.

Invoicing or sales invoicing is not very different from sales voucher entry. The advantage of using the invoice format for sales invoice entry is that, automatic calculations of taxes and duties (ledger accounts classified under the group 'Duties & Taxes') is possible.

The default Sales Invoice screen appears as:

Tally prompts for the Sales Ledger to be allocated to - at the beginning of the entry. There after, any number of stock items or account ledgers can be selected one after another – enabling faster data entry. This is possible as the option Use Common Ledger A/c for Item Allocation in F12: Configure on the invoice entry screen is set to YES (by default)

There are two types of Invoices, namely,

Item Invoice > you can select ITEMS for invoicing

Account Invoice > you can select LEDGERS for invoicing

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!

Payment Voucher

Gateway of Tally > Accounting Vouchers > selecting F5: Payment > displays the Payment voucher entry screen. Payment transactions can be entered using Tally's Payment Voucher.

The Payment Entry screen appears in Single Entry Mode by default (as the option "Use Single Entry mode for Pymt/Rcpt/Contra" is set to YES > in F12: Configure from Payment Voucher).

For example, the company settles expenses of conveyance, staff welfare, postage, Furnitures and stationery through cash. The entry is displayed as:

First you have to enter Date of voucher / transaction (26.1.2009)

You are prompted to choose the cash or bank ledger, which will pay the amount (the credit ledger). ( Cash)

Then whom payment to be made (Furniture Grace)

Amount ----------------------(5500.00)

Then entry in narration column particulars of payment (Being advance amount paid for supply of computer furnitures 2 sets)------.> accept( Enter)
your payment voucher is saved

Depending upon type data entry, you can select receptive screens using function buttons shown in RED (F5, F6,F8 etc)