In the world of accounting, not all transactions involve external parties like customers or suppliers. Some transactions happen within the business itself, such as transferring money from one bank account to another or depositing cash into the bank. These internal cash/bank transactions are recorded using the Contra Voucher in TallyPrime. As per the Accounting Principles, […]
Contra Voucher in Tally Prime Read More »
One of the most frequently used vouchers in accounting is the Payment Voucher. In TallyPrime, this voucher is used to record any kind of outflow of money—whether it’s a cash payment, bank transfer, cheque, or UPI transaction. Payment voucher is used to account all the payments made by the company by way of Cash /
Payment Voucher in Tally Prime Read More »
In every business, receiving money—whether from customers, banks, or other sources—is a routine activity. In TallyPrime, such incoming transactions are recorded using a Receipt Voucher. Whether it’s a cash receipt, bank a Receipt Voucher helps you track all money inflows systematically. Receipts are an official record that represents proof of a financial transaction or purchase.
Receipt Voucher in TallyPrime Read More »
Sales vouchers In Tally Prime are used when the company sells goods or services to customers. When a sales transaction is made, a document detailing the transaction (item name, qty, rate, tax, etc.) has to be given to the buyer or debtor as proof of purchase by him. This document is called “Invoice” or “Bill”
Sales Voucher in Tally Prime Read More »
Purchase vouchers In Tally Prime are used when the company purchased some goods or services from suppliers. Purchase entries can be made in the Voucher as well as Invoice Formats. The advantage of using the invoice format for purchase entry is that it allows automatic calculations of taxes. (ledger accounts classified under the group ‘Duties
Purchase Voucher in TallyPrime | A Complete Guide to Purchase Invoice Bills Read More »
A Journal Voucher in TallyPrime is used to record non-cash transactions, adjustments, and internal business activities that do not directly involve cash or bank accounts. The Journal Voucher is a vital part of TallyPrime and everyday accounting. It helps you record all non-cash and adjusting transactions accurately. Learning to use it properly will improve the
Journal Voucher in Tally Prime Read More »
Narration in Tally refers to the brief explanation or description provided for a transaction at the time of entering a voucher. It appears below the ledger account entries and serves as a note explaining why a transaction was made. 📌 Why is Narration Important? Clarity in Records: It tells the story behind a transaction,
What is Narration in Tally Prime ? Read More »
Voucher is a document containing the details of financial transactions. There are many types of vouchers in tally prime to enter the business transactions like sales, payment, contra, purchase, Receipt, debit note, etc. Types Of Vouchers In Tally Prime Accounting 1. Accounting Voucher – for accounting Entries 2. Inventory Voucher – for inventory entries 3.
What is Voucher in Tally Prime? Read More »
The ultimate goal of accounting is to prepare financial statements that provide a clear picture of a business’s financial health. The two primary financial statements are: A balance sheet provides a snapshot of a business’s financial position at a specific point in time. It lists assets, liabilities, and equity. Assets are what the business owns (e.g.,
Display Balance Sheet in Tally Read More »
The Profit and Loss Account shows the operational results over a given period. It lists out the Incomes and Expenditures based on the Primary Groups of Tally and the Profit & Loss Account in Tally is updated instantly with every transaction voucher that is entered and saved. Step 1 Click on Profit & Loss A/c here
View Profit and Loss Statement Read More »
