Recording day-to-day transactions in Tally.ERP 9

Recording day-to-day transactions in Tally.ERP 9

Tally is a  accounting software that offers various types of vouchers to record different transactions. Here are the most common accounting vouchers available in Tally:

  1. Payment Voucher: This voucher is used to record payments made by the company to its suppliers or creditors.
  2. Receipt Voucher: This voucher is used to record all incoming cash, cheques, or other payment methods received by the company.
  3. Journal Voucher: This voucher is used to record transactions that do not involve cash, such as adjustments of accounts, depreciation, or rectification of errors.
  4. Contra Voucher: This voucher is used to record transactions that involve both cash and bank, such as cash deposited in the bank or cash withdrawn from the bank.
  5. Sales Voucher: This voucher is used to record all sales transactions made by the company.
  6. Purchase Voucher: This voucher is used to record all purchases made by the company from its suppliers.
  7. Debit Note Voucher: This voucher is used to record goods returned to the supplier or a decrease in the invoice amount due to any reason.
  8. Credit Note Voucher: This voucher is used to record goods returned by the customer or an increase in the invoice amount due to any reason.Inventory vouchersInventory vouchers in Tally are used to record transactions related to inventory management. Here are some of the most common inventory vouchers in Tally:
    1. Purchase Order (PO) Voucher: This voucher is used to record a purchase order for goods to be purchased from a supplier.Receipt Note (RN) Voucher: This voucher is used to record the receipt of goods from a supplier. It is used to update the inventory stock and the accounting records.Delivery Note (DN) Voucher: This voucher is used to record the delivery of goods to a customer. It is used to update the inventory stock and the accounting records.Rejection In (RI) Voucher: This voucher is used to record the rejection of goods received from a supplier. It is used to update the inventory stock and the accounting records.Rejection Out (RO) Voucher: This voucher is used to record the rejection of goods delivered to a customer. It is used to update the inventory stock and the accounting records.Stock Journal (SJ) Voucher: This voucher is used to record the transfer of goods from one location to another, such as from one warehouse to another.Physical Stock (PS) Voucher: This voucher is used to record the actual physical count of the inventory stock. It is used to reconcile the inventory stock with the accounting records.
    These inventory vouchers help businesses to manage their inventory effectively and keep their accounting records accurate. Tally also provides various inventory reports that help businesses track their inventory levels and make informed decisions.Non – Accounting VouchersTally.ERP 9 supports several types of vouchers that are used to record various types of financial transactions. While most of the vouchers are related to accounting transactions, there are a few non-accounting vouchers in Tally.ERP 9 as well. These non-accounting vouchers are used to record transactions that do not have any financial impact or do not involve any ledger accounts. Here are some examples of non-accounting vouchers in Tally.ERP 9:
    1. Memos Vouchers
    Memos vouchers are used to record transactions that do not involve any financial impact or do not affect any ledger accounts. For example, if a business receives a phone call from a customer regarding a product inquiry, the business can record this information as a memo voucher. Memo vouchers are not included in any financial reports or statements, and they are used only for reference purposes.
    1. Reversing Journals
    Reversing journals are used to reverse the effects of a previously recorded journal voucher. For example, if a business records a journal voucher to accrue an expense at the end of the month, the business can use a reversing journal to reverse the effect of the accrual entry at the beginning of the next month. Reversing journals are used to ensure that the financial statements are accurate and reflect the true financial position of the business.
    1. Optional Vouchers
    Optional vouchers are used to record transactions that are optional or discretionary in nature. For example, if a business provides a discount to a customer on a particular transaction, the business can record this information as an optional voucher. Optional vouchers are not included in any financial reports or statements, and they are used only for reference purposes.
    1. Order Vouchers
    Order vouchers are used to record orders that are received from customers or suppliers. Order vouchers are not included in any financial reports or statements, and they are used only for reference purposes. Once the order is confirmed, the business can record the transaction using the appropriate accounting voucher.

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