Post Dated Vouchers in TallyPrime: 6 Easy Steps + Example

Apr 24, 2024

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In TallyPrime, post-dated vouchers are a way to record transactions that will occur at a future date.

They differ from regular vouchers by delaying their impact on your accounting data until the specified future date arrives. Here’s a detailed explanation:

Table of Contents

1. Understanding Post-Dated Vouchers in TallyPrime:

1. Purpose:

They allow you to record transactions like issuing post-dated cheques or receiving payments on a future date.

This helps maintain an accurate record of upcoming financial obligations without affecting your current financial statements.

2. Impact:

They are not reflected in your general ledger or reports until the post-dated date arrives.

3. Benefits:

1. Improved Cash Flow Management:

They provide a clear picture of upcoming cash inflows and outflows, aiding in better cash flow management.

2. Accurate Record Keeping:

They ensure a complete record of future financial obligations without prematurely affecting your current financial position.

2. Creating Post-Dated Vouchers:

1. Create a New Voucher:

Use the voucher creation options available in TallyPrime (usually by pressing Alt+F12 for Gateway or navigating through menus depending on your version).

2. Select Voucher Type:

Choose the appropriate voucher type for your transaction (e.g., Payment Voucher for issuing a post-dated cheque, Receipt Voucher for receiving a future payment).

3. Enter Voucher Details:

Date: Enter the current date (the date you’re creating the voucher).
Post Dated: Enable the “Post Dated” option (usually a button or checkbox). This might vary slightly depending on your TallyPrime version.
Post Dated Date: Enter the future date on which the transaction will actually occur (e.g., the cheque encashment date).
Particulars: Clearly describe the purpose of the voucher (e.g., “Issued Post-Dated Cheque to [Payee Name]”).
Debit and Credit: Select the appropriate accounts based on the transaction.

4. Example: Issuing a Post-Dated Cheque

1. Scenario:

You issue a post-dated cheque to a vendor for $1000 on April 20th, but the cheque will be encashed by the vendor on May 10th.

2. Post-Dated Voucher:

You create a payment voucher in TallyPrime on April 20th.

Date: April 20th (current date).
Post Dated: Enable the “Post Dated” option.
Post Dated Date: May 10th (cheque encashment date).
Particulars: “Issued Post-Dated Cheque to [Vendor Name].”
Debit: Accounts Payable A/c (increased by $1000).
Credit: Bank A/c (decreased by $1000).

5. Important Considerations:

1. Negative Cash Warning (Optional):

TallyPrime might display a warning about a negative cash balance on the current date (April 20th) due to the post-dated cheque.

You can usually ignore this warning as it reflects the future cheque encashment and not your current cash position.

2. Impact on Reports:

The transaction won’t be reflected in your general ledger or reports until May 10th (the post-dated date).

3. Pre-dated Transactions (Not Recommended):

While TallyPrime might allow entering pre-dated transactions (transactions with a date before the current date), it’s generally not recommended due to potential accounting inconsistencies.

It’s better to use regular vouchers for past transactions.

6. In Conclusion:

Post-dated vouchers in TallyPrime are a valuable tool for managing future financial obligations.

By understanding their functionality and using them effectively, you can maintain accurate records of upcoming transactions and improve your cash flow management.