How to Record Accounting Entry in TallyPrime

How to Record Accounting Entry in TallyPrime

How to Record Accounting Entry in TallyPrime

To record an accounting entry in TallyPrime, you can follow these steps:

  1. Launch TallyPrime and open the company for which you want to record the accounting entry.
  2. Navigate to the Gateway of Tally screen, which is the main screen in TallyPrime.
  3. From the Gateway of Tally screen, select “Accounting Vouchers” or press the shortcut key F2.
  4. In the Accounting Vouchers menu, you will see various types of vouchers such as Payment, Receipt, Contra, Journal, and more. Choose the appropriate voucher type based on the transaction you want to record. For example, if you want to record a payment, select the “Payment Voucher” option.
  5. Once you select the voucher type, a voucher entry screen will open. Fill in the required details for the transaction:

Date: Enter the date of the transaction.

  • Party’s Account: Select the account of the party involved in the transaction. You can choose from the list of predefined ledgers or create a new one if needed.Debit and Credit: Enter the debit and credit amounts based on the account being debited and credited in the transaction. Make sure the total debits and total credits are equal to maintain a balanced entry.

Additional Information: You can provide additional details or narration about the transaction in the narration field.

  • After entering the required details, review the entry to ensure accuracy.
  • Save the voucher by pressing Ctrl+A or using the shortcut key F10.
  • TallyPrime will validate and record the accounting entry, and the voucher entry screen will close. The voucher will be stored in the respective ledger accounts and will reflect in reports and account balances.

Repeat these steps for each accounting entry you want to record in TallyPrime.

It’s important to note that the exact steps may vary slightly depending on the version of TallyPrime you are using. Additionally, it’s recommended to consult TallyPrime’s user guide or seek assistance from TallyPrime support for specific guidance tailored to your software version and configuration.

What is recording transactions in Tally called?

In Tally, the process of recording transactions is called “voucher entry.” A voucher is a document that records a financial transaction, and voucher entry refers to the act of entering the details of the transaction into Tally software.

Tally course in Chandigarh It offers various types of vouchers to cater to different types of transactions. Some common voucher types in Tally include:

  1. Payment Voucher: Used to record payments made by the company, such as payments to suppliers, utility bills, or expenses.
  2. Receipt Voucher: Used to record money received by the company, such as customer payments, rental income, or other forms of income.
  3. Sales Voucher: Used to record sales made by the company to customers.
  4. Purchase Voucher: Used to record purchases made by the company from suppliers or vendors.
  5. Journal Voucher: Used for general accounting entries that don’t fall under specific voucher types. It is used to record adjustments, transfers, and other non-cash transactions.

When entering a transaction in Tally, you select the appropriate voucher type and enter the details such as the date, party’s account, debit and credit amounts, and any additional information or narration. Tally then processes the voucher entry, updates the relevant ledgers, and maintains accurate accounting records for the transactions.

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