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How To Entry Of Payment In Tally

How to Entry of Payment in Tally Complete Information

Different types of transactions are done in business and business management, similarly, in business and business, we have to make payment in the purchase and sale of goods, as well as we get payment on sales, whose transaction is Accounting: Payment Entry in Tally. It is very important to do it in the right form.

Accounting software is mostly used in the management of business, in the same way it is also necessary to make payment entry in Tally, through which the knowledge of profit and loss of the whole year can be obtained, so today we (Payment Entry in Tally), Payment Key in Tally. Will discuss about how to do entry.

Payment Entry in Tally (Payment Entry)

Payment Entry in Tally : Cash and credit buying and selling in business and business in which we have to make payment and get payment, like in our business bought goods worth ₹ 50000 from Mr. Traders, then here we have to pay ₹ 50000 to Mr. Traders. Payment has to be made which is called Payment Entry. Payment Voucher is used to make entry in Tally.

Payment Entry is done under Accounting Voucher in Tally, which can be accessed through Gateway of Tally >> Accounting Voucher >> Payment Voucher. The Shortcut Key of Payment Voucher is F5.

When to enter payment in Tally (Payment Entry)

Payment Entry in Tally : We use Payment Voucher to enter payment in Tally and there are different types of vouchers available in Tally through which we are able to identify the transactions and enter in the same way to enter the payment voucher. For this it is very important for us to identify the transaction, pay attention to these things at the time of payment entry in Tally –

1- Cash Purchase: When we purchase any goods in business, in cash, then we enter using payment voucher in Tally.

2- Cash Expenses: When we do various types of direct and indirect expenses in business, such as – Telephone Expense, Electricity Bill, Wages, Salary, Bank Charges, Misc. Expenses Then we enter using payment voucher in tally.

How to Entry Payment in Tally (Payment Entry)

Payment Entry in Tally : Payment Voucher is used to enter Payment in Tally, to use Payment Voucher in Tally we have to follow these steps –

Gateway of Tally >> Accounting Vouchers >> Payment Voucher (Press F5)

Transaction 1. Bought furniture worth Rs. 10000 for the shop.
Voucher entry in Payment Voucher
Furniture A/c 10000
to Cash A/c cr. 10000
Bought the furniture for the shop for Rs. 10000.

Transaction 2. Bought clothes worth Rs. 2 lakh from Shree Cloth Store Raipur and paid 12% GST.
Voucher entry in Purchase Voucher
Purchase A/c Dr. 200000
CGST A/c Dr. 12000
SGST A/c Dr. 12000
to shri cloth store raipur ac 224000
(Bought clothes worth Rs 2 lakh from Shree Cloth Store Raipur and paid 12% GST)

Payment Entry in Tally (Payment Entry)

Transaction 3. Paid Rs. 50 thousand to Shree Cloth Store Raipur and got 5% cash discount.
Voucher entry in Payment Voucher
Shri Cloth Store Raipur Dr. 50000
Cash Discount Received Cr. 5000
Cash A/c Cr. 45000.
(Payed Rs.50 thousand to Shree Cloth Store Raipur and got 5% cash discount)

Transaction 4. Telephone bill paid by check of Rs. 1500.
Voucher entry in Payment Voucher
Telephne Bill Dr. 1500
SBI Bank A/c Cr. 1500
(Telephone bill of Rs.1500 paid by check)

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