Recording A Payment Entry In Tally Complete Information

Payment Vouchers Entry in Tally, Money comes or money goes in any business, if money comes in business then we enter it in Receipt Voucher, if money goes from business then we have to enter Payment voucher.

Payment transaction i.e. you give money to any person from business, then it becomes a payment entry transaction. We give money from business in two ways, one is cash payment and the other is bank payment, today we will learn to record all these transactions tally.

So what is the payment voucher in today’s Tally tutorial? How to record payment voucher in tally? Practice payment entry in tally by Sikh.

What is a Payment Voucher ?

Payment voucher means, any payment made by the company such as cash or bank payment is entered in the payment voucher. We enter the transaction of any payment in the payment voucher. There are two modes of payment entry in Tally, it includes single entry or double entry mode.

To set the payment voucher single entry or double entry mode, we can go to the F12 configuration. If there is a cash purchase in the creditor, expense, or business, then we make the payment, we enter all these transactions in the payment voucher in Tally.

Payment voucher examples

Payment Voucher Examples, We can take many examples of payment voucher in any business organization. There are many payments of money in the business organization, money goes from business i.e. it is all payment transactions. Which we will enter in the payment voucher in the tally of the computer.

In Tally, many types of transactions daily records are maintained in a company or organization. For example, receipt, payment, purchase, purchase return, sale, sale return, journal entry, etc. All these transactions are recorded in a special voucher. Similarly, whatever payment is made in the business, it is entered in the payment voucher. Examples of payment entries are:

• Cheque Paid to Sundry Creditor Rs 200, 000/-
• Office Expenses Paid Cash Rs 2000/-
• Brought a Printer for Office Cash Rs 17,000/-
• Staff Expenses Paid Rs 1000/-
• Office Rent Paid by Cheque Rs. 27,000/-
• Electricity Bill Paid by Cash Rs 2700/-

Check Paid to Sundry Creditor Rs. 200,000/-

Payment Voucher Examples The first example is, when we buy goods from any party (Sundry Creditor), we pay it. In this example, we have made a payment of Rs 1 lakh to our party which is a transaction of a payment entry. We will enter this on the payment voucher in Tally.

Here we have taken the example of traditional entry, but its entry is different in tally, in this case we have tried to understand that the money has gone i.e. the payment is done and the money goes through bank check, then we will put it in the payment voucher in tally. Will enter.

Office Expenses Paid Cash Rs. 4,000/-

In our other Payment Voucher Examples, the business organization is getting paid in cash. Here office expenses are paid in cash, that is, we will enter this transaction in the payment voucher.

This journal entry is the example we took above, it is only taught in college. This is how we have presented it so that it is easy to learn. If you go to work as an accountant in a firm, no one will give you such a journal, you have to enter after seeing payment, expense slip, bank statement, that is, if payment has been made in any way, then it will be an entry in the payment voucher itself.

Every business organization maintains such a payment book. If the money goes from business, then the slip of the payment book is given. You can pass payment entry in tally by viewing the transaction of this payment book.

Payment Entry in Tally

Payment vouchers are used to record all bank and cash payments. For example, in our first payment voucher example, a company pays a creditor’s bill by check. Here we have given the name of the Sundry Creditor M/s Rajshree Enterprises.

Create Payment Entry Single Entry Mode
State Bank Check Paid to M/s Rajshree Enterprises Rs. 200,000/-

1- Gateway of Tally > Transactions. >Accounting Vouchers >Enter

In Tally’s main screen Gateway of Tally there is an option of Accounting Voucher under Transactions, enter here from keyboard. Or here the letter V is highlighted, you will press V on the keyboard, the Account Info menu will open.

2- Select Payment on Button bar or Press F5 on Keyboard

To activate Payment Voucher, select Payment on the button bar, or press the F5 key on the keyboard. Now we will be able to pass all payment entry in tally.

3- Select Account. > if Cash then select Cash Account if Money Paid by Cheque then Select Bank

In the List of Ledger Accounts, here shows you the cash and bank ledger. As in the example of this tally payment voucher entry, we have made the payment by check, then we will select the bank here. If this payment had been done in cash, we would have selected cash.

4- Select Sundry Creditor’s Account on list of ledger then enter the amount and save the Payment voucher

Entry of payment voucher is done as follows:

In this example the company has given a check of 100,000/- to its Sundry Creditor, which is a payment transaction. We have to create ledger in Tally, in the name of creditor M/s Rajshree Enterprises which is a Sundry Creditor account.

The bank ledger here belongs to the State Bank which is a bank account. It is simple here in Single Entry Mode, to enter it, select State Bank in the account and select the ledger of M/s Rajshree Enterprises below.

Payment Entry in Tally example

The convenience in Payment Single Entry Mode is, you can record many transactions simultaneously by selecting Cash or Bank at once.

Payment voucher entry in Tally example, for example: Rent Paid Cash Rs 17,000/- Electric bill Paid cash Rs 500/-, Office expenses paid Rs 600/-, Staff Expenses Cash Rs 1000/- All these transactions are done in one day If all the cash payments are there, then in Single Entry Mode, you can select the cash once and put all the multiple entries in a single voucher. Single entry appears as shown below:

Note: Similarly, Receipt Voucher and Contra Voucher can also be recorded in single-entry mode.

The more you keep the Payment Voucher Entry simple, the more you will be able to learn, if you go to more options then it will be difficult to learn. That’s why we did not tell much about the features of the F 11 and the F 12 configuration, which you will learn later.

Conclusion

In this tutorial we have mentioned Payment Entry in Tally and along with it Payment voucher Examples, Cash Payment entry in Tally, Payment voucher entry in Tally example, Payment entry example, Tally payment voucher in tally complete tutorial and download process mentioned on this article. Is.

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