A voucher is a basic recording document. Day to day transaction is entered in Tally through vouchers. It is a key to all business information. Entering the transaction through voucher is called Voucher or Voucher Entry.
VOUCHER TYPE
Basic voucher types available in Tally are :-
- Receipt Voucher
- Payment Voucher
- Purchase Voucher
- Sales Voucher
- Contra Voucher
- Journal Voucher
- Stock Journal
- Physical Stock
- Memorandum Voucher
Among the above types of vouchers, Memorandum Voucher is a purely non-accounting voucher. That is, the entries in this voucher do not affect the accounts, because, Tally does not post these entries to ledgers. Therefore, these vouchers do not affect the final results.
RECEIPT VOUCHER (F6)
RECEIPT VOUCHER (F6)
Receipt Voucher is used to enter all receipts of cash or bank (receipt of bank cheques or interest on bank deposits). Even the amount received from the sales of fixed assets (not being the regular course of business) must also be treated as Receipts.
Note:- All Receipt Vouchers must have at least one Debit entry for cash or bank account. Always a Receipt Voucher will prompt to enter the credit aspect of the voucher first.
If bill-wise details must be stored in the voucher, immediately after selecting the name of Sundry Debtor, from whom the amount is received, method of adjustments will be asked. Select 'Agst Ref.' (Against Reference), select the number of the bill towards which the amount is received and specify the amount received.
PAYMENT VOUCHER (F5)
Payment voucher is used to enter all type of payments by cash or bank (payment by bank cheques). Even the amount paid for the purchase of Fixed Assets like Purchase of Machinery, Land, Furniture etc. (not being the regular course of business) must also be treated as payments.
Note:- All payment vouchers must have at least one credit entry for cash or bank account. Always a Payment Voucher will prompt to enter the debit aspect of the voucher first.
If bill-wise details has to be maintained, then, after selecting the name of person to whom the payment is made (Sundry Creditor), Tally will prompt to select the Method of Adjustment. Select 'Agst Ref'. (Against Reference), select the number of bill, towards which the payment is made and enter the amount paid.
CONTRA VOUCHER (F4)
Cash or Cheque deposited into bank, cash withdrawn from bank, transfer of funds from the bank account to another will be entered through contra voucher. Here Debit and Credit accounts can be only cash and bank accounts. If the amount is deposited into the bank, then Bank A/c will be debited and Cash A/c will be credited. If the amount is withdrawn from bank, then Cash A/c is debited and Bank A/c will be credited.If one bank's cheque is deposited into another bank, then the first Bank A/c is credited and later Bank A/c is debited. Always a Contra Voucher will prompt the user to enter the credit aspect of the voucher first. A contra voucher can be entered by pressing the function key F4.
PURCHASE VOUCHER (F9)
Purchase Voucher is meant for purchase entries. Purchases made in the regular course of business (not of office use) will be entered in this voucher. Purchase of fixed assets (not being the regular course of business) must be entered through Payment voucher and not Purchase Voucher. Generally, purchases are made on credit. Tally allows you to enter both cash and credit purchases. A Purchase Voucher can be entered by pressing the function key F9.
Note:- All payment vouchers must have at least one credit entry for cash or bank account. Always a Payment Voucher will prompt to enter the debit aspect of the voucher first.
If bill-wise details has to be maintained, then, after selecting the name of person to whom the payment is made (Sundry Creditor), Tally will prompt to select the Method of Adjustment. Select 'Agst Ref'. (Against Reference), select the number of bill, towards which the payment is made and enter the amount paid.
CONTRA VOUCHER (F4)
Cash or Cheque deposited into bank, cash withdrawn from bank, transfer of funds from the bank account to another will be entered through contra voucher. Here Debit and Credit accounts can be only cash and bank accounts. If the amount is deposited into the bank, then Bank A/c will be debited and Cash A/c will be credited. If the amount is withdrawn from bank, then Cash A/c is debited and Bank A/c will be credited.If one bank's cheque is deposited into another bank, then the first Bank A/c is credited and later Bank A/c is debited. Always a Contra Voucher will prompt the user to enter the credit aspect of the voucher first. A contra voucher can be entered by pressing the function key F4.
PURCHASE VOUCHER (F9)
Purchase Voucher is meant for purchase entries. Purchases made in the regular course of business (not of office use) will be entered in this voucher. Purchase of fixed assets (not being the regular course of business) must be entered through Payment voucher and not Purchase Voucher. Generally, purchases are made on credit. Tally allows you to enter both cash and credit purchases. A Purchase Voucher can be entered by pressing the function key F9.
Debit Credit
1) Purchase A/c 1) The account of supplier (sundry creditors) or cash or
bank A/c
2) Input VAT/Tax if any 2) Discount on purchase if any
In a Purchase Voucher, always credit aspect (account of supplier of goods) is entered first.
Sales Voucher (F8)
Sales voucher is meant for sale entries. Sales made in the regular course of business (not sale of fixed assets of the office) will be entered in this voucher. Sales of Fixed Assets (not being the regular course of business) must be entered through Receipt Voucher and not Sales Voucher. Generally, business sales are made on credits. Tally allows the user to enter both cash and credit sales. A sales voucher can be entered by pressing the Function Key F8.
Sales Voucher (F8)
Sales voucher is meant for sale entries. Sales made in the regular course of business (not sale of fixed assets of the office) will be entered in this voucher. Sales of Fixed Assets (not being the regular course of business) must be entered through Receipt Voucher and not Sales Voucher. Generally, business sales are made on credits. Tally allows the user to enter both cash and credit sales. A sales voucher can be entered by pressing the Function Key F8.
Debit and credit accounts of Sales Voucher are :-
Debit Credit
Debit Credit
1) The ledger account of buyer or 1) Sales A/c
customer or Cash or Bank A/c
2) Discount on Sales if any 2) Duty, Tax, Packing & Forwarding charges
if any
In a Sales Voucher, always Debit aspect (the account of buyer) is entered first.
Note : - VAT, CST (Central Sales Tax), etc. all belong to the group Duties & Taxes. Packing & Forwarding Charges belong to the group Indirect Expenses.
JOURNAL VOUCHER (F7)
A journal voucher is an adjustment voucher. All amounts to be adjusted between two accounts are to be passed by journal. By adjustment between the accounts we mean, there is no physical movement of funds. Purchase Return, Sales Return, Depreciation on Fixed Assets etc., can be entered through the Journal. Journal entries can be entered by pressing the Function Key F7.
JOURNAL VOUCHER (F7)
A journal voucher is an adjustment voucher. All amounts to be adjusted between two accounts are to be passed by journal. By adjustment between the accounts we mean, there is no physical movement of funds. Purchase Return, Sales Return, Depreciation on Fixed Assets etc., can be entered through the Journal. Journal entries can be entered by pressing the Function Key F7.
In Accounting Features, if 'Use Debit/Credit Notes' option is set to 'YES', then voucher type is set to Journal (F7), three options will be displayed :-
Credit Note
Debit Note
Credit Note - Credit Note is used to enter the transaction related to Sales Return or when there is an excess debit to a party.
Credit Note - Credit Note is used to enter the transaction related to Sales Return or when there is an excess debit to a party.
In case of Credit Note, always credit aspect (ledger account of party who is returning the goods) is entered first.
Debit Note - Debit Note is used to enter the transaction related to Purchase Return or when a customer is short-billed.
Debit Note - Debit Note is used to enter the transaction related to Purchase Return or when a customer is short-billed.
In case of Debit note, always the Debit aspect (the ledger account of party to whom the goods are returned) is entered first.
STOCK JOURNAL
This is used to transfer of materials. It allows to make the entry of items moved from one godown to another without affecting the financial accounts.
STOCK JOURNAL
This is used to transfer of materials. It allows to make the entry of items moved from one godown to another without affecting the financial accounts.
To make the entry for Stock Journal press the keys ALT + F7.
This voucher is used to enter actual stock of items on a given date. Whenever the actual stock is checked, make an entry in the Physical Stock Voucher to specify the correct stock. The stock at this point is considered to be the stock in hand and all calculations are based on this stock. Tye the name of item, name of Godown, Batch/Lot Number, Manufacturing Date, Expiry Date, Quantity & Amount.
MEMO VOUCHER (F10)
This is purely non-accounting voucher. That is the entries in this voucher do not affect the accounts because these entries are not posted to ledgers and they do not affect the final result of the company. Tally stores Memo Vouchers in a separate register called Memo Register.
There are two types of Memo Vouchers. They are Memorandum and Reversing Journal. Reversing Journal can be entered only if the Accounting Features option 'Use Reversing Journal' is set to YES.
Memorandum entries are made if any suspense payments are made (if any payments are made to an employee to buy some stationary items, actual payment entry can be passed only after the purchase is made. Instead of waiting till the purchase is made and the remaining amount is returned. A memo voucher to the extent of amount given to the employees can be entered and when the transaction is finalized, it can be converted to Payment Voucher, if voucher not verified at the time of entry or if the items are given on approval. Memo Vouchers are entered by pressing the Function Key F10.
Reversing Journals
Reversing Journals are special journals that are automatically reversed after the date of journal. They exit only for a day and are effective on the date of the reversing journal. Moreover, they are effective only when they are called for in the reports. (e.g. Balance Sheet). For example, on 30th June, if you want to view the Balance Sheet as of that day. But June salaries are not due for payment until the first week in July. Therefore, there is a large liability, which is not reflected in the Balance Sheet. To overcome this, an Reversing Journal is to entered dated 30th June by Salary (Debit) and Provisions (Credit) to the extent of total amount of salary due. (Provisions a ledger account to be created under the Accounts Group - Current Liabilities).
- (Consumption), Select the source godown.
- From the list of godowns, select the source godown.
- Enter the quantity of items being transferred in place of Rate.
- In Destination (Production) Enter the name of item received.
- Type the quantity and rate of items sent to different godowns.
- Type a brief note of transaction in place of narration.
This voucher is used to enter actual stock of items on a given date. Whenever the actual stock is checked, make an entry in the Physical Stock Voucher to specify the correct stock. The stock at this point is considered to be the stock in hand and all calculations are based on this stock. Tye the name of item, name of Godown, Batch/Lot Number, Manufacturing Date, Expiry Date, Quantity & Amount.
MEMO VOUCHER (F10)
This is purely non-accounting voucher. That is the entries in this voucher do not affect the accounts because these entries are not posted to ledgers and they do not affect the final result of the company. Tally stores Memo Vouchers in a separate register called Memo Register.
There are two types of Memo Vouchers. They are Memorandum and Reversing Journal. Reversing Journal can be entered only if the Accounting Features option 'Use Reversing Journal' is set to YES.
Memorandum entries are made if any suspense payments are made (if any payments are made to an employee to buy some stationary items, actual payment entry can be passed only after the purchase is made. Instead of waiting till the purchase is made and the remaining amount is returned. A memo voucher to the extent of amount given to the employees can be entered and when the transaction is finalized, it can be converted to Payment Voucher, if voucher not verified at the time of entry or if the items are given on approval. Memo Vouchers are entered by pressing the Function Key F10.
Reversing Journals
Reversing Journals are special journals that are automatically reversed after the date of journal. They exit only for a day and are effective on the date of the reversing journal. Moreover, they are effective only when they are called for in the reports. (e.g. Balance Sheet). For example, on 30th June, if you want to view the Balance Sheet as of that day. But June salaries are not due for payment until the first week in July. Therefore, there is a large liability, which is not reflected in the Balance Sheet. To overcome this, an Reversing Journal is to entered dated 30th June by Salary (Debit) and Provisions (Credit) to the extent of total amount of salary due. (Provisions a ledger account to be created under the Accounts Group - Current Liabilities).
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