Here’s how to create a payment voucher in Tally, with examples and numbers:
1. Access the Payment Voucher:
- From the Gateway of Tally, go to Accounting Vouchers.
- Press F5 (Payment) or click on the F5: Payment button.
2. Enter Voucher Details:
- Date: Enter the date of the payment.
- Voucher Type: Select “Payment” (usually the default).
- Reference Number: Enter a reference number for easy tracking (optional).
3. Select Party Ledger to Credit:
- Credit: Choose the ledger of the person or entity to whom you’re making the payment (e.g., supplier, employee, bank).
4. Enter Account to Debit:
- Debit: Select the account from which the payment is being made. This is typically a bank account (e.g., “Cash” or “Bank of India”) or an expense account (e.g., “Purchase Expenses”).
5. Enter Amount:
- Enter the amount paid in the Amount field.
6. Add Narration (optional):
- Provide a brief description of the payment for reference.
7. Save:
- Press Ctrl+A to save the payment voucher.
Payment Voucher Examples in TallyPrime
Example 1: Paying a supplier:
- Debit: Purchase Expenses – ₹50,000
- Credit: Supplier Name (e.g., XYZ Supplies) – ₹50,000
Example 2: Paying employee salary:
- Debit: Salary Expense – ₹25,000
- Credit: Employee Name (e.g., John Doe) – ₹25,000
Example 3: Repaying a bank loan:
- Debit: Loan from Bank – ₹10,000
- Credit: Bank of India – ₹10,000
Key Points while Creating Payment Entry in TallyPrime:
- Use payment vouchers to record all cash and bank payments.
- Ensure accuracy in account selection, party ledger details, and amounts.
- Double-check the debit and credit balance.
- Provide clear narrations for better understanding.
- Regularly reconcile payment vouchers with bank statements and supplier accounts.
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