Voucher Entry in Tally.ERP 9
All the financial transactions are recorded in a document called a voucher. Voucher entry is required for recording the same into the books of accounts. For every transaction, you need to enter an appropriate Tally voucher to get the same posted into the particular ledgers and finally to update the financial positions of the corporate.
The voucher entry menus options are available under Transactions with in the Gateway of Tally . The Payroll and Order Vouchers are available in Tally.ERP9 and can be enabled as per requirements basis.
The Payroll Vouchers can be enabled by pressing the key F1: Accounting Features , whereas the Order Vouchers can be activated with the key F2: Inventory Features .
Note: If the company’s configuration is in Accounts Only mode then Inventory Vouchers option will not be available under under Transactions .
Predefined Vouchers in Tally.ERP 9
Tally.ERP9 has the following predefined Vouchers, for different business requirements for recording different transactions. In Tally.ERP9 you can also create user-defined Vouchers (Voucher Types) as per your voucher entry requirements. List of predefined vouchers are :
- Contra Voucher
- Payment Voucher
- Receipt Voucher
- Journal voucher
- Sales Voucher / Invoice
- Debit Note Voucher
- Credit Note Voucher
- Purchase Voucher / Invoice
A Contra voucher entry involves in transfer of cash between one Cash A/c to another cash account or to Bank A/c, and vice versa . means it is a transaction which indicates transfer of funds from:
- Cash account to Cash account
- Cash account to Bank account
- Bank account to Cash account
- Bank account to Bank account
All of the transactions mentioned above can be recorded using contra voucher entry
To view the Contra Voucher Entry Screen,
- Go to Gateway of Tally > Accounting Vouchers
- Click on F4: Contra from the Button Bar or press F4 key .
- select Account > select the other account > Enter amount >Control+A to Accept the contra voucher .
Payment voucher entry is used to record all bank and cash payments. company can settle it’s a creditor’s bill by cash or cheque.
- Go to Gateway of Tally >select Accounting Vouchers > Press F5 key : Payment .
- Select the Account Cash or Bank > under particulars select the appropriate creditors ledger > fill the amount and accept the voucher.
Payment voucher entry can be entered using Single Entry or Double Entry mode. To configure this setting Press F12 Key and change Use Single Entry mode for Payment/Rcpt/Contra to Yes.
For example : The company settles expenses of Conveyance, Staff Welfare, Postage and Stationery through Cash in one payment voucher. To enter this voucher use single entry mode where you will be crediting the Cash Ledger only once.
Note: Similarly the transactions can be recorded in single-entry mode even in Receipt voucher and Contra vouchers.
Payment in Voucher entry mode
When there are multiple debits and credits involved in an entry, then you should use double entry mode for passing the payment voucher entry.
Receipt Voucher is used to record the money received from debtors against sales Invoices or on Account and also for all transactions where money is received are entered into Tally.ERP9.
- Go to Gateway of Tally > Accounting Vouchers.
- Click on F6: Receipt from the button bar or press F6 key .
Receipt Voucher is entered for cash and bank using following rules:
- Credit the Sundry Debtor account and debit the Cash account, if you receive cash or
- Debit the Bank account where you need to deposit the money, if you receive it via Cheque.
Receipt Entry Using Bank
- Go to Gateway of Tally > Select Accounting Vouchers > Press F6 Key : Receipt.
- Under Particulars, select the Sundry debtors name as defined in the ledger master .
- Fill the amount , select the appropriate values in the bill wise details, under method of adjustment and hit OK to accept the voucher.
Note: the Transfer Mode option will appear only if the option Show Transfer Mode is set to Yes in F11:
Go to Gateway of Tally > F11: Features > Set/ Alter Transaction Types to Yes . Set under Transaction Type > Others > under Receipts to Yes.
Purchase voucher with GST
Purchase voucher is used to record all the Purchase transactions of the company whether bought on cash or credit . Before recording a purchase voucher we need accounting masters (Please read if haven’t read yet) to be configured. Ledgers needed to record a purchase vouchers are:
- Purchase Account under Purchase group
- Sundry Creditor ledger under Sundry Creditor group
- CGST ledger under Duties and Taxes
- SGST ledger under Duties and Taxes
Now follow the step mentioned below to record a purchase voucher:
- Go to Gateway of tally>Accounting Voucher>F9 Purchase
- Change date Using F2 keys to change the date of invoice.
- Enter supplier Invoice number & date of invoice.
- Select party name
- Select purchase ledger.
- select all three stock items, quantity, rate.
- Select ledger, CGST & SGST, This would be IGST in case of interstate transactions. The tax will be calculated automatically.
Generating Tax Analysis Report
To view the Tax Information click on the Tax Analysis or Alt+A the following window will appear
Press ESC key to get back to purchase voucher screen & press enter key to accept the voucher.
Generating GSTR-2 Report
This purchase voucher entry will also used to generate GSTR-2 report which the monthly .
Display> Statutory Report>GST>GSTR-2
It shows the Taxable value, Total Tax and Total ITC (Input Tax Credit) available .
PS: Tally.ERP9 is a comprehensive software by Tally Solutions, Simple easy to use, It is best suited for Accounting, Inventory and Payroll management and fully complaint with Goods and Services Tax.
Some of the voucher entries has been covered here and remaining vouchers would be covered in the next blog. Hope it will add value to you. Please comment on the comment section below. Subscribe it get the instant updates of new blogs.