Voucher Types and Voucher Entries

1. What is a Voucher?

A Voucher in accounting is a document that supports the entries made in the financial books of accounts. In Tally Prime, vouchers are used to record day-to-day transactions in a structured format.

For example, if a company sells goods, a Sales Voucher is used to record the transaction in the accounts.

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2. Voucher Types in Tally Prime

Tally Prime provides several predefined voucher types to handle different financial transactions. You can also create custom voucher types to suit specific business requirements.

Common Voucher Types

1. Contra Voucher (F4)

• A Contra voucher is used for transactions related to internal fund transfers within the company, such as:
  • Cash deposited into the bank.
  • Withdrawal of cash from the bank.
  • Fund transfers between two bank accounts.

Example: Depositing ₹50,000 into the bank from the company's cash account.

2. Payment Voucher (F5)

• A Payment voucher is used to record all outflows of money, such as:
  • Cash payments to suppliers.
  • Payment of expenses like rent, salaries, or utilities.

Example: Paying ₹10,000 to a supplier for goods purchased.

3. Receipt Voucher (F6)

• A Receipt voucher records all incoming funds, such as:
  • Payments received from customers.
  • Cash deposited into the bank.

Example: Receiving ₹20,000 from a customer for a sale made.

4. Journal Voucher (F7)

• A Journal voucher is used for non-cash and non-bank transactions, often related to:
  • Adjustments between accounts.
  • Provisions and accruals.
  • Depreciation entries.

Example: Recording depreciation of ₹5,000 on office equipment.

5. Sales Voucher (F8)

• A Sales voucher is used to record sales of goods or services. It impacts the accounts receivable and inventory.

Example: Selling goods worth ₹15,000 to a customer.

6. Purchase Voucher (F9)

• A Purchase voucher is used to record purchases of goods or services. It affects the accounts payable and inventory.

Example: Purchasing raw materials worth ₹25,000 from a supplier.

7. Credit Note Voucher (Ctrl + F8)

• A Credit Note voucher is issued when goods are returned by a customer or when there is a need to credit the customer’s account for any reason.

Example: Issuing a credit note of ₹2,000 for goods returned by a customer.

8. Debit Note Voucher (Ctrl + F9)

• A Debit Note voucher is used when the business returns goods to the supplier or requests a reduction in the amount owed.

Example: Returning defective goods worth ₹3,000 to a supplier.

9. Stock Journal Voucher

• A Stock Journal voucher records transfers between stock items. It is used for internal stock transfers, manufacturing entries, or assemblies.

Example: Transferring 100 units of raw material to production stock.

10. Delivery Note and Receipt Note Vouchers

• The Delivery Note voucher records the delivery of goods to a customer.
• The Receipt Note voucher records the receipt of goods from a supplier.

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3. Voucher Entries in Tally Prime

Voucher entries are used to record transactions under the appropriate voucher type. Each entry impacts different ledger accounts and keeps the books of accounts accurate.

Steps to Enter a Voucher in Tally Prime

1. Open Tally Prime
   • Ensure that you are in the correct company in Tally Prime.
2. Select Voucher Entry Screen
   • From the Gateway of Tally, go to:
     • Vouchers > Select Voucher Type (F4 to F9 based on the voucher type).
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3. Enter Transaction Details
   • Depending on the type of voucher selected, fill in the necessary transaction details such as:
     • Date: Enter the date of the transaction.
     • Party Account: Select the customer, supplier, or ledger involved in the transaction.
     • Ledger Accounts: Choose the ledger accounts affected by the transaction.
     • Amount: Enter the transaction amount.
     • Stock Items (for inventory-related vouchers): Select the stock item(s) involved and their quantity.
4. Save the Voucher
   • After entering the required details, press Ctrl + A to save the voucher.