Voucher in Tally Prime
What is Voucher?
- The voucher is a document that is used to record a financial transaction.
- It is a crucial concept in accounting software like Tally, which is widely used for bookkeeping and accounting purposes.
- Tally allows users to create different types of vouchers to record various types of transactions.
Each voucher type corresponds to a specific financial transaction, and it helps in maintaining accurate and organized financial records.
Voucher Types
- Accounting Voucher
- Inventory Voucher
Accounting Vouchers
- Accounting vouchers are used to record financial transactions related to income, expenses, assets, liabilities, and equity.
- They are primarily concerned with maintaining accurate financial records.
Inventory Vouchers?
- Inventory vouchers, on the other hand, are used to record transactions related to inventory or stock items.
- They help in tracking the movement of goods in and out of the inventory.
- Goods receipt voucher, goods issue voucher, stock transfer voucher, stock adjustment voucher, etc.
Accounting Voucher
- Payment Voucher
- Receipt Voucher
- Journal Voucher
- Contra Voucher
- Sales Voucher
- Purchase Voucher
- Credit Note Voucher
- Debit Note Voucher
Vouchers
- Payment Voucher: Used to record payments made to creditors, suppliers, or for expenses.
- Receipt Voucher: Used to record all types of income and receipts, such as sales receipts, rental income, and interest income.
- Journal Voucher: Used to record non-cash transactions, such as accounting adjustments, depreciation, and transfer of funds between bank accounts.
- Contra Voucher: Used to record transactions involving the transfer of funds between a bank and cash or between different bank accounts.
- Sales Voucher: Used to record sales invoices and generate sales-related reports.
- Purchase Voucher: Used to record purchase invoices and maintain purchase-related records.
- Contra Voucher: Used to record transactions involving the transfer of funds between a bank and cash or between different bank accounts.
- Sales Voucher: Used to record sales invoices and generate sales-related reports.
- Purchase Voucher: Used to record purchase invoices and maintain purchase-related records.
- Credit Note Voucher: Used to record credit notes issued to customers when goods are returned, or adjustments are made to a sales invoice.
- Debit Note Voucher: Used to record debit notes issued to suppliers when goods are returned, or adjustments are made to a purchase invoice.
Payment Voucher
- Rent Paid in Cash of Rs.10,000
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| Rent Expense Account | 10000 | |
| Cash A/c | | 10,000 |
Receipt Voucher
- Commission received Rs.25000
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| Commission (Income Account) | | 25000 |
| Cash A/c | 25000 | |
Contra Voucher
- Cash deposit into bank Rs.30000
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| Cash A/c | | 30000 |
| SBI Bank | 30000 | |
Journal Voucher
- Depreciation of Machinery Rs.25000
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| Depreciation | 25000 | |
| Machinery | | 25000 |
Sales Voucher
- Goods sold on credit to M/s. Tharun Pvt Ltd was Rs.1,00,000.
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| M/s. Tharun Pvt Ltd | 1,00,000 | |
| Sales A/c | | 1,00,000 |
Credit Note Voucher
- The good return from M/s. Tharun Pvt Ltd was Rs. 20,000.
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| M/s. Tharun Pvt Ltd | | 20,000 |
| Sales Return A/c | 20,000 | |
Purchase Voucher
- The goods purchased on credit from M/s. Ravi Pvt Ltd were Rs.50000.
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| M/s. Ravi Pvt Ltd | | 50000 |
| Purchase A/c | 50000 | |
Debit Note Voucher
- Issued debit note against M/s. Ravi Pvt Ltd was Rs.10000.
Ledger Entry:
| Ledger | Debit | Credit |
|---|
| M/s. Ravi Pvt Ltd | 10000 | |
| Purchase Return A/c | | 10000 |
Gross Profit
- The gross profit is the difference between the total sales revenue and the cost of producing the goods sold.
- In other words, it is the amount of income that remains after you have paid for all the direct costs and expenses related to making the product.
- Gross Profit = Sales - Purchase.
- Gross Loss = Purchase - Sales
| Gross Profit |
|---|
| Particulars | DR | Particulars | CR |
|---|
| Purchase | XXXX | Sales | XXXX |
| Purchase Return | XXXX | Sales Return | XXXX |
| Direct Expenses | XXXX | | |
| Gross Profit | XXXX | | |
| XXXX | | XXXX |
Net Profit and Loss
- The Profit & Loss A/c is a periodic statement, which shows the net result of business operations for a specified period.
- All the expenses incurred, and incomes earned during the reporting period are recorded here.
- Net Profit = (CR + GROSS) –DR [ (Income + Gross)-Expenses]
- Net Loss = DR-(CR+GROSS) [Expenses - (Income + Gross)]
| Net Profit |
|---|
| Particulars | DR | Particulars | CR |
|---|
| Direct Expenses | XXXX | Gross Profit | XXXX |
| | | Indirect Income | XXXX |
| Net Profit | XXXX | | |
| XXXX | | XXXX |
Balance Sheet
- A balance sheet is a financial statement that reports a company's financial position.
- This report shows the balance between the assets and liabilities of a firm. The balance sheet follows the fundamental accounting.
- Asset = Liabilities + Owner's Equity
| Balance Sheets |
|---|
| Particulars | DR | Particulars | CR |
|---|
| Capital Accounts | XXXX | Current Assets | XXXX |
| Current Liabilities | XXXX | Fixed Assets | XXXX |
| Loans (Liability) | XXXX | Investment | XXXX |
| Reserves and Surplus | XXXX | Miscellaneous Expenses | XXXX |
| Loans & Advances | XXXX | Bank Accounts | XXXX |
| Sundry Creditors | XXXX | Deposits | XXXX |
| Provisions | XXXX | Stock in Hand | XXXX |
| Bank O/D | XXXX | Sundry Debtors | XXXX |
| Secured Loans | XXXX | | |
| Unsecured Loans | XXXX | | |
| Total | XXXX | Total | XXXX |