How to Create Contra Voucher in TallyPrime: 6 Easy Steps

Here’s how to create a contra voucher in TallyPrime:

1. Access the Contra Voucher Screen:

• Press F4 (key shortcut)
• OR, go to Gateway of Tally > Accounting Vouchers > Contra

2. Enter Voucher Details:

• Date: Enter the transaction date accurately.
• Vch Type: It will be pre-filled as “Contra.”
• Reference: Provide a clear reference for easy tracking (e.g., “Cash Deposit,” “Bank Transfer”).
• Narration: Add a brief description of the transaction.

3. Select Accounts:

• Debit Account: Choose the account you’re debiting (e.g., Cash, Bank Account A).
• Credit Account: Choose the account you’re crediting (e.g., Bank Account B, Cash).
• Ensure the total debit and credit amounts match.

4. Enter Amounts:

• Enter the amount in either the debit or credit field and TallyPrime will automatically populate the other field with the same amount.

5. Allocate Amounts (if applicable):

• If the transaction involves multiple ledgers within a group account, use the Alt+A shortcut to allocate the amount accordingly.

6. Save the Voucher:

• Press Enter to save the contra voucher.

Common Examples of Contra Vouchers:

• Cash Deposit: Transferring cash from one cash account to another.
• Bank Transfer: Moving funds between different bank accounts.
• Payment from Cash to Credit Card: Paying off a credit card balance using cash.
• Cash Withdrawal from Bank: Taking cash out of a bank account.
• Internal Fund Transfers: Shifting funds between different departments or cost centers.
• Adjusting Opening Balances: Correcting errors in opening balances.

Additional Tips while Creating Contra Entry in TallyPrime:

• Use voucher classes to create specific contra voucher types for different purposes (e.g., “Cash Deposit,” “Bank Transfer”).
• Regularly review your contra vouchers to ensure accuracy and prevent errors.
• If you’re unsure about a transaction, consult with an accountant or financial advisor.