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Let's take an example to learn about passing payment entries in Tally ERP9

 

Example

Suppose Rs 2000 paid to Airtel by Cheque of ICICI Bank on 1 July 2016

Here

Entry will be

Airtel Dr 2000

       To ICICI Bank 2000

Airtel is a Sundry Creditor and ICICI Bank is a Bank Account

 

 

 

How to Pass Entry

Accounting Voucher -> Select Date -> Select Type of Entry -> Select Payment Voucher

 

There are 2 options

  1. Pass in Single Entry Mode (which appears by default)

           Select Payment by…..Cash or Cheque

           Put payment to…………(Select Party Name,,to Create---Alt C)

 

  1. Pass in Double Entry

        F12 Configure -> Put Single Entry No -> Put Debit Credit Yes -> Enter Enter or Ctrl A

 

 

SUMMARY

We know that Payment Entry is of form

Party Dr

      To Bank/Cash

 

Or

 

Expense Dr

     To Bank/Cash

 

Relevant Groups while Creating Ledger

  • Bank is created under Group Bank Account,
  • Party is normally under Sundry Creditor to whom we are making payment
  • Expense is under Direct Expense or Indirect Expense
  • Cash Account is already created in tally by default)

 

 

  1. Accounts Tax
  2. Tally
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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