Creating and Entering Voucher Transactions in Tally Prime

Tally Prime is one of the most widely used accounting software, offering users the ability to easily record and manage financial transactions. In Tally Prime, vouchers are used to record business transactions, such as payments, receipts, sales, purchases, and more. This article will guide you through the process of creating and entering voucher transactions in Tally Prime, step by step.

1. Understanding Vouchers in Tally Prime

In Tally Prime, vouchers are categorized into different types to help users record specific transactions. The main voucher types include:

  • Contra Voucher
  • Payment Voucher
  • Receipt Voucher
  • Journal Voucher
  • Sales Voucher
  • Purchase Voucher

Each voucher type has a unique purpose. For example, a Payment voucher records cash or bank payments, while a Sales voucher records the sale of goods or services.

2. How to Create and Enter a Voucher in Tally Prime

To create and enter a voucher transaction in Tally Prime, follow these general steps:

Step 1: Access the Voucher Entry Screen

To begin entering a voucher, first, open Tally Prime and follow these steps:

  1. Open Tally Prime and go to the Gateway of Tally.
  2. From the main menu, navigate to Voucher Entry (or press V on the keyboard).

Step 2: Choose the Voucher Type

Once you are in the Voucher Entry screen, you need to select the appropriate voucher type based on the nature of the transaction. For example:

  • If you are recording a payment, select Payment voucher.
  • If you are recording a sale, select Sales voucher.
  • If you are recording a purchase, select Purchase voucher.

Step 3: Enter the Transaction Details

After selecting the voucher type, you need to enter the details of the transaction, such as the date, party name, and the accounts involved. Here is an example for each type of voucher:

Example 1: Payment Voucher

Suppose a business pays $1,000 in cash for office rent. Here's how to record the transaction:

  1. Select Payment voucher from the Voucher Entry screen.
  2. Enter the date of payment (e.g., 01-12-2024).
  3. Under Account, select "Rent Expenses" (if it's already created) or create a new ledger for "Rent Expenses."
  4. Enter the amount to be paid, i.e., $1,000, and select Cash as the payment method (or Bank if applicable).
  5. Press Enter to save the voucher.

Example 2: Sales Voucher

If a company makes a sale of $2,000 worth of goods on credit, here’s how to record the transaction:

  1. Select Sales voucher from the Voucher Entry screen.
  2. Enter the date of the sale (e.g., 01-12-2024).
  3. Under Account, select "Sales" and enter the amount of $2,000.
  4. Under Party Name, select or create a new ledger for the customer.
  5. Press Enter to save the voucher.

Example 3: Purchase Voucher

For a business that purchases inventory worth $500 on credit, the process will be as follows:

  1. Select Purchase voucher from the Voucher Entry screen.
  2. Enter the date of purchase (e.g., 01-12-2024).
  3. Under Account, select "Purchases" and enter the amount of $500.
  4. Under Party Name, select or create a new ledger for the vendor.
  5. Press Enter to save the voucher.

Step 4: Save the Voucher

After entering all the details of the transaction, press Enter to save the voucher. Tally Prime will automatically update the accounts and financial records.

Step 5: View the Voucher in Reports

After saving the voucher, you can view the transaction in various reports, such as the Cash/Bank Book, Profit and Loss Account, and Ledger reports. These reports help you track the financial status of your business.

3. Real-life Example of Voucher Creation

Let's look at a comprehensive example where a company records multiple transactions using different vouchers.

  1. Payment Voucher: The company pays $500 for office supplies through the bank account. This is recorded using a Payment voucher.
  2. Receipt Voucher: The company receives $1,500 from a customer for a product sold earlier. This is recorded using a Receipt voucher.
  3. Sales Voucher: The company sells $2,000 worth of goods on credit. This is recorded using a Sales voucher.
  4. Purchase Voucher: The company purchases raw materials worth $800 from a supplier on credit. This is recorded using a Purchase voucher.

By entering these vouchers correctly, the company’s financial records are updated, and it can generate accurate reports to analyze its performance.

4. Conclusion

Creating and entering voucher transactions in Tally Prime is a straightforward process that helps businesses manage their financial data accurately. By following the steps outlined in this article, users can efficiently record different types of transactions and maintain up-to-date financial records. With Tally Prime, businesses can generate reports and ensure compliance with accounting standards, making it an essential tool for every business owner.




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