Type Of Vouchers And Creating Accounting Vouchers In Tally

Type Of Vouchers: Tally is pre-programmed with a variety of accounting vouchers, each designed to perform different job.

The standard vouchers are: 

1. Payment Voucher - Payment related transactions can be entered using payment vouchers.

2. Receipt Voucher -  Transactions accounting for money received are entered into Tally through the receipt voucher. For example, your company receives money from a customer for an earlier transaction. The customer account has to be credited and if cash is received debit the cash account. If cheque is received debit the bank account where you will deposit the money received.

3. Contra Voucher - As per accounting rules, Contra Entry is a transaction indicating transfer of funds from:   

    A) Cash account to Bank account

    B) Bank account to Cash account

    C) Bank account to Bank account

Contra Entry screen appears in the Single Entry Mode by default. You are prompted to choose the account, which will receive the amount (the debit ledger).

For example, of you wish to transfer of funds from Cash Account into Bank, Use Contra.

4. Sales Voucher:

    A) Sales Orders

    B) Sales Voucher/Invoices

    C) Delivery Notes

    D) Rejection In 

5. Purchase Voucher: 

    A) Purchase Orders

    B) Purchase Vouchers

    C) Goods Receipt Notes

    D) Rejection Out

6. Journal Voucher:

    A) Credit Notes

    B) Debit Notes

    C) Journal - Journal vouchers are accounting journal entries into the accounting system used at the school. The purpose of having Journal vouchers are to make corrections or adjustments to previous Receipt or Disbursement entries.

    D) Memo Voucher

    E) Reversing Journal

    F) Stock Journal

    G) Physical Stock

You can alter these vouchers to suit your requirement and also create new vouchers.

For example, if you wish to distinguish cash and bank payments you can create vouchers to do this.

Creating Accounting Vouchers In Tally: To view the Accounting Vouchers screen:

 Go to Gateway Of Tally-> Accounting Vouchers

Note: The Voucher Entry screen display depends on the Voucher Configuration, Company Features and the Voucher Type settings.

The default voucher entry screen that is displayed is the Payment Voucher screen. To go to the next voucher screen you can simply switch the vouchers using the buttons from the Button Bar or by using the Function Keys.

Consider a simple payment vouchers screen.

A) Voucher Number: If you have set Method of Voucher Numbering to Automatic in Voucher Type screen, Tally will automatically enter the voucher number and if you have set Method of Voucher Numbering  to Manual, Tally allows you to enter the voucher number manually.

B) Reference: You can enter a reference such as Purpose Order Number or Invoice Number in the Reference field.

Note: Reference is not available for receipt and payment vouchers.

C) Narrations: You can any comment that is appropriate for the transaction in Narrations. You can configure Tally's Narration details as per the type of narration for the transactions. The types of Narration are:

Common Narration - Common Narration details for the entire Voucher at the end.

Single Narration - Narration details for every debit or credit transactions made.

Enabling Narrations

Common Narration is enabled by default in Tally.

To activate Narration on the voucher screen:

1. Go to Gateway of Tally-> Accounting Information-> Voucher Types -> Alter

2. Select the required Voucher

3. Set the option Narrations for each Entry to Yes.

4. Accept the details.

5. Return to Accounting Vouchers on Gateway of Tally and make a payment voucher entry as required.

Following example demonstrate a Payment transaction that has both common narration and narrations for each entry. The advantages of this being that you can give single line narration separately for every ledger account selected in case of multiple debit/credit entries.

Particulars To/By or Dr/Cr: By default Tally displays To/By which can be changed to Dr/Cr.

1. Set use Cr/Dr instead of To/By during entry to Yes in F12: Configure.

2. Accept to Save

Each Voucher line displays a prompt of Dr/By for debit entries or Cr/To for credits.

Note: Depending on the voucher type, Tally selects either Dr or Cr/To or By Thereafter, you can change the prompt by typing over it with a D or C/T or B.

D) Buttons in a Typical Voucher Entry screen:

F2: Date - You can use this button to change the date of the voucher.

F3: Company - This would allow you to switch to another loaded company and enter a voucher in it. Therefore, you can, almost simultaneously enter vouchers for more than one company.

Accounting Vouchers:

F4: Contra

F5: Payment

F6: Receipt

F7: Journal

F8: Sales

F9: Purchase

F10:Memos

F7: Stock Journal 

F10: Physical Stock - This allows recording of physical stock in hand as distinct from computed stock figures.

Other Buttons: 

As Voucher/As Invoice: This button is available only for Sales/Purchase Vouchers and invoices

Post Dated: To mark the current voucher postdated. Toggles with Current

Optional: To mark the current voucher optional. Toggles with Regular

F11: Features: The different features of a company can be selected or modified by using the F11: Features button. This button is available in almost all screen of Tally. You can modify it as and based on the requirements. 

F12: Configures: The F12: Configure button allows you define and enable the report - specific options which are required.

For example, depending on the report that you are viewing, you can specify whether it should be in horizontal or vertical format, show percentages, show gross profit, show opening and/or closing balances, change the periodicity, change the sorting method.