Voucher Entry in Tally.ERP 9

• Accounting Vouchers

Tally.ERP 9 is pre-programmed with a variety of accounting vouchers, each designed to perform a

different job. The standard Accounting Vouchers are:

• 􀂇 Contra Voucher (F4)
• 􀂇 Payment Voucher (F5)
• Receipt Voucher (F6)
• 􀂇 Journal Voucher (F7)
• 􀂇 Sales Voucher /Invoice (F8)
• 􀂇 Credit Note Voucher (CTRL+ F8)
• 􀂇 Purchase Voucher (F9)
• 􀂇 Debit Note Voucher (CTRL+ F9)
• 􀂇 Reversing Journals (F10)
• 􀂇 Memo voucher (CTRL+ F10)

Contra Voucher (F4)

As per the accounting principles, a contra entry is a transaction involving transfer of cash between one cash A/c to another or one cash A/c to another bank A/c i.e., is a transaction indicating transfer of funds from :Cash account to bank account.

Exp: Cash Deposited in to SBI Rs. 25000/-
Dr. SBI           25000
Cr. Cash                        25000

(Note: cash  deposit into bnak , cash withdraw from bank)

Payment Voucher (F5)

Payment Voucher is prepared for all payments, made by the business firm directly or through its bankers. In all business organizations, mostly the payments are made in following manners:-

1. Payment in cash.
2. Payment by cheques.
3. Payment by demand drafts or pay orders.
4. Payment made directly by bank on behalf of the business clients.

Conveyance Expenses reimbursed to Mr. A for Rs.1522/= as per detail submitted by him on 31.07.15 Prepare the necessary voucher of the same transaction in the books of M/S XYZ Limited.

Solution:

Cash Payment Voucher shall be prepared for the above transaction as follows:

M/S XYZ LIMITED
CASH PAYMENT VOUCHER
Voucher No. 1011                                                                   Date:  31.07.15
PARTICULARS	AMOUNT (IN RS.)
DEBIT: Conveyance Expenses Account	1522/=
TOTAL	1522/=
CREDIT: Cash Account	1522/=
TOTAL	1522/=
Narration: Being cash paid to Mr. A towards reimbursement of his conveyance expenses as per the details enclosed.
Amount in Words: Rupees one Thousand Five Hundred Twenty Two only.
Receiver’ Signature                  Manager’s Signature                     Cashier’s Signature

Receipt Voucher (F6)

 Receipt Voucher is prepared for all the money received by the business firm. Money is received in a company for the following reasons:-

• Cash Sales
• Payment received from the customers against the dues.
• Advance payment from customers.
• Refund of securities.
• Payment received from creditors against the debit balance lying in their account.
• Receipt of any type of income i.e. interest, commission, rent etc.
• Refund of any tax amount from tax authorities.
• Any other receipts.

Money is received in the following forms:-

• Cash
• Cheques
• Demand Drafts or Pay Orders
• Direct transfer in bank account of the business firms.
• If any payment is made by third party on behalf of the company then also it will be treated as receipt from the person who has paid the money on behalf of the company.

Exp: Received interest Rs. 5000

Dr. Cash                       5000
Cr. Interest Received                 5000

Journal Vouchers (F7)

Journal Vouchers are used to adjust the debit and credit amounts without using the cash or bank accounts. Journal voucher entries are also known as adjustment entries. You can also make any credit purchases or sales any fixed assets entry through thisvoucher.

Exp: Credit purchases any fixed assets from creditor Rs. 100000/-
Dr. Fixed Assets        100000
Cr. Creditor                               100000

Exp. Dep. charge on  car @ 10% of computer (Price:10000)
Dr.  Dep. on computer     1000
Cr. Computer                                1000

Sales Voucher (F8)

You can use this voucher type for credit and cash sales entries in tally software. There are two modes in which you can make entry in sales voucher either in voucher entry mode or invoice mode.
Voucher Entry Mode

Invoice Mode

Credit Note Voucher (CTRL+ F8)

Normally credit note is voucher is used when sales goods are returned from customer. This voucher is also used in extra charged amount by creditors. Press Ctrl + F8 for active credit note voucher. When sold goods are returned from the party against the VAT than normally following entry be passed.

Note: By default Sales Return entry made in invoice mode in the Credit Note voucher. To see same entry in voucher mode you have to press Ctrl + V, on this voucher.

EX:  Dr. Amit Debitor’s   a/c  252.50
       Cr. Sales@1%      250.00
       Cr. Output Vat @1%                 2.50
       (Amount increased entry of debtors in voucher mode)

Purchase Voucher (F9)

You can use this voucher to make all entries which is related to credit and cash purchases in tally software.

Note: During purchase voucher entries you have to change the mode of this voucher by PressingCTRL + V key, voucher entry to invoice mode and invoice to voucher entry mod as per requirement. To this shortcut key you have to active following option by pressing F11-> F1-> Set Allow Invoicing Option – Yes

Invoice Mode

Voucher Entry Mode

Debit Note Voucher (CTRL+ F9)

Normally debit note is issue when purchase goods are return to vendor. This voucher is also used in extra charged amount to debtors. Press Ctrl + F9 to active debit-note voucher in tally. When purchase goods are return to the party against the VAT then normally following entry be passed.

Dr.           Creditor                                                    a/c       562.50
Cr.           Purchases@12.5%                                               500
Cr.           Input Vat @ 12.5%                                               62.50

 Reversing Journals (F10)

If you want to make any entry in these voucher then you have to press F11 (Company Features) function key > the press F1 function key to open Accounting Features > Use reversing Journal & Optional Vouchers – set this option “Yes”.

After applicable of this feature some non-accounting voucher are activate.

1.    Memorandum (Ctrl + F10) – This voucher is use to pass entry just for memo. It is not affected of any final accounts.

2.    Reversing journal (F10) – To pass out rectify entry use reversing journal voucher. It is not affected of any final accounts.

3.    Optional (Ctrl + L) – Optional is not a separate voucher , but is you press this key combination of any accounting voucher then that voucher is not affect in balance sheet or any final accounts.

The all of above voucher is not affecting of your final a/c, but if you want to see the actual balance sheet with variance of these voucher then create scenario.

Memo voucher (CTRL+ F10)
It is also called non-accounting voucher in tally that means there is no accounting effect is made in current accounting when you making any entry in this voucher. Here is guide to activate non accounting vouchers (Memo and Reverse Journal Vouchers) in tally

How to active or use Memorandum Voucher in Tally:

Step 1: Press F11> F1> Use Reverse Journal & Optional Voucher:  Set this option “Yes”, now save this window.

Step 2: GOT (Gateway of Tally) > Accounting Voucher > Press Ctrl+F10, to activate the Memorandum Voucher in the Tally software.

Exp:
Dr.   Ram              5000
Cr.   Cash                          5000
(Paid to mr. ram against tour exp. in adv.)

Group of Tally

There are 28 predefined groups in Tally.ERP 9, which are widely used in the Chart of Accounts ofmany trading organizations. Out of these, 15 groups are Primary Groups and the remaining 13are Sub-Groups.Among the 15 predefined groups, 9 Groups are Balance Sheet items and the remaining 6 groupsare Profit & Loss A/c items. However, you may also alter the nomenclature of these predefined 28Groups
The List of Accounts screen is displayed as shown1. Capital AccountReserves & Surplus [Retained Earnings]2. Current AssetsBank AccountsCash-in-handDeposits (Asset)Loans & Advances (Asset)Stock-in-handSundry Debtors3. Current LiabilitiesDuties & TaxesProvisionsSundry Creditors4. Fixed Assets5. Investments6. Loans (Liability)Bank OD A/c [Bank OCC A/c]Secured LoansUnsecured Loans7. Suspense A/c8. Misc. Expenses (Asset)9. Branch/DivisionsOut of the 15 pre-defined primary groups, the following are the six pre-defined groups thatappear in the Profit & Loss Account.1. Sales Accounts2. Purchase Accounts3. Direct Incomes [Income (Direct)]4. Indirect Incomes [Income (Indirect)]5. Direct Expenses [Expenses (Direct)]6. Indirect Expenses [Expenses (Indirect

What is Journal and Ledgers ?

Journal and Ledgers 

A Journals is book in which business transactions are entered in chronological order. A record of a single business transaction is called a Journal Entry. Every journal Entry is supported by a voucher, evidencing the related transaction. 
A Voucher is a document containing the details of a financial transaction. Examples include sales invoice purchase invoice, Payslip, Rent receipt and so on.

A Journal, several entries are recorded, each of which are unrelated to the other. To know the total effect of all the transactions affecting a particular asset, liability, expense or income . A ledger is the book in which all the accounts  are maintained. A chart of accounts is a list of all account titles used by organisation.

What is Posting ?

  Posting is the process by which information about transaction is transferred or moved, to an account. 

What is Accounting Period ?

A Regular period of time , such as a quarter or a year, for which a financial statement is generated is called an accounting period. 

What is Trial Balance ?

A Trial Balance is a list of the balances of all ledger account. It is prepared after  

1. Making all the adjustment entries in journal.
2. Posting the journal entries to the ledger 
3. Balancing the ledger account.

It is sum of balance of all real, personal and nominal accounts of the organisation. A detailed trial balance has columns for,

• Account name
• Debit balance
• Credit balance

What is Financial Statement ?

A Financial statement is a report prepared from the accounting records of a company to find the financial of a business for a specific period.

For Repoting convenience the profit and loss account in divided into ,

1. Trading Account
2. Profit and Loss Account

  The profit and loss statement can be further classified into two levels.

• Gross Profit: Gross Profit is arrived at, after considering the core activity of  the company it is expressed as 

Gross Profit= Net Sales - Cost of Sales 

• Net Profit :  Net  Profit is arrived at after considering  the administrative and other costs incurred for the period. it is expressed as.

Net Profit = (Gross Profit + Other) - (Selling And Administrative Expenses + Depreciation + Interest + Taxes + Other Expenses)

Trading Account

Accounts that increase the profit are shown on one side while accounts that decrease the profit, ie., losses and expenses are shown on the other side. The statement so prepared is known as “Income Statement”. An Income Statement has two parts namely, Trading Account - It reveals gross profit or gross loss .

Basic accounting

Basic Accounting

What is Accounting ?

Accounting is the systematic recording, reporting, and analysis of financial transactions of a business. 
The in charge of accounting is know as an accountant and this individual is typically required to follow a set of rules and regulations such as the Generally accept accounting Principle.
Accounting allow a company to analyze the financial performance of the Business and look at statics such as net profit.

Rules of Accounting

Personal Account

Personal account relates to persons with whom a business keeps dealings. A person called be a natural person or a legal person. if a person receives any things from the business he is called receiver and his account is to debited in book of business.

The Golden Rule for Personal Account is ,

Debit(Dr.) is the Receiver

Credit(Cr.) is the Giver.

Real Account

Real Account relates to property which may either come into the business or go from business. If any property or goods come into the business account of that property or goods is to be debited in the books of the business. If any property or goods goes out from the business account of that property or goods is to be credited in the books of business.
The Golden Rule for Real Account
Debit What come in
Credit what goes out

Nominal Account

Nominal Account is an account that relates to business Expenses, Loss, Income and Gains. 

If Business incurs expenses to manage and run business account of that expense is to be debited in the book of Business when a business earns in come by rendering services or hiring business assets, an account of that income is to credited in the books of business. 

The Golden Rule for Nominal Account

Debit All Expenses or Loss 

Credit All Income Gains or Profit

Introduction & History of tally

  Tally Introduction 

Tally is complete business solution .Tally provides a comprehensive solution to the acciounting and inventaary needs of a business. The package comprises financial accountings, book-keeping and inventory accountin. It is devaloped by "Mr.Bharat Goenka". Tally solustion PVT was stared in early 1980 .  

Tally History

Tally version

Tally Version 3.0,4 and4.5

Tally 3.0 to Tally 4.5 version Tally Accounting Package was only used to run in Microsoft DOS (Disk Operating System) and it was unable to run in windows O.S . The fist version of Tally not a user friendaly.

Tally Version 5

Tally 5 version introduced its operatings in windows OS . It become user friendly and very easy to operate with Graphical user Interface of the software . There was no any enhancement in the Business operation only supported the basic accounting as earlier version did.  

Tally Version 5.4

Inventry maintenace has been introduced with this version. Recording the stock Quantity and generating the stock reports with developrd.

Tally version 6.3 

Locking the software with single computer wase introduced with this version .By Hadware Lock Facility duplication of the software usage was eradicated.

Tally Version 7.2

Tally 7.2 version onwards the tally software was able to handle the statutory operations by recording the VAT(value Added Tax), Service Tax, T.D.S(Tax Deducted Source) like transactions and able to generate the statutory. 

Tally version 8.1

Earlier Tally was only able to work in English language but now onword it supported multi-lingual anad support FBT,and Excise operation. 

Tally version 9 

International Taxation and pay roll has been introduced.

Tally version ERP.9 

Excise for manufatures and Remote Login(Tally.Net) Features launched  and Finally Tally . .ERP9 version launched with seriesA in the year 2009 with which Mr. Bharat Goneka goal has been achived From Tally.ERP9 version onwords The improvements in the software called as Releases.
it is simple to install and use the software and you can download it for free of cost from the Tally Solution Downlod center.