Types of Vouchers in Tally Prime notes

In Tally Prime,notes vouchers are used to record financial transactions in the system. Each voucher type corresponds to a different kind of financial activity, such as sales, purchases, payments, receipts, and journal entries. Understanding these voucher types is essential for accurate financial recording and accounting.Types of Vouchers in Tally Prime notes

1. Receipt Voucher (F6)

A Receipt Voucher in Tally Prime is used when a business receives money from customers, banks, or any other entity. It records all transactions where money is received, whether in cash or through bank transfers. Types of Vouchers in Tally Prime notes

Key Use Cases:

Recording payments received from customers.
Bank receipts, such as interest income or deposits.

Shortcut Key: F6

Example:

A customer pays ₹50,000 for goods sold. This amount would be recorded using a Receipt Voucher.

2. Payment Voucher (F5)

A Payment Voucher is used to record all payments made by the business. This includes payments to suppliers, employees, and any other expenses like utility bills or rent.

Key Use Cases:

Recording payments made to suppliers for goods purchased.
Payment of utility bills or salaries.
Bank payments such as loan repayments.

Shortcut Key: F5

Example:

A business pays ₹20,000 to a vendor for raw materials. This would be recorded using a Payment Voucher.

3. Sales Voucher (F8)

A Sales Voucher is used to record sales transactions where goods or services are sold to customers. It keeps track of income generated from sales. Types of Vouchers in Tally Prime notes

Key Use Cases:

Recording the sale of goods or services.
Issuing invoices to customers.

Shortcut Key: F8

Example:

A company sells products worth ₹1,00,000 to a customer. This would be recorded using a Sales Voucher.

4. Purchase Voucher (F9)

A Purchase Voucher records transactions where a business purchases goods or services from suppliers. It helps track expenses related to the procurement of materials or services.

Key Use Cases:

Recording purchases of raw materials.
Tracking expenses on outsourced services.

Shortcut Key: F9

Example:

A business purchases raw materials worth ₹30,000. This transaction would be entered using a Purchase Voucher Types of Vouchers in Tally Prime notes

5. Journal Voucher (F7)

A Journal Voucher is used for adjustments and transactions that do not involve cash or bank accounts. It is primarily used for non-cash transactions such as depreciation, adjustments, provisions, or closing entries.

Key Use Cases:

Depreciation entries.
Accrued expenses or income.
Transfer of amounts between accounts.

Shortcut Key: F7

Example:

Depreciating machinery worth ₹5,000 would be recorded using a Journal Voucher.

6. Contra Voucher (F4)

A Contra Voucher is used to record transactions that involve transfers between cash and bank accounts or between different bank accounts. It is specifically used for cash withdrawals, deposits, or transfers between bank accounts. Types of Vouchers in Tally Prime notesA Contra Voucher is used to record transactions that involve transfers between cash and bank accounts or between different bank accounts. It is specifically used for cash withdrawals, deposits, or transfers between bank accounts. Types of Vouchers in Tally Prime notes Types of Vouchers in Tally Prime notes

Key Use Cases:

Recording cash withdrawals from the bank.
Depositing cash into the bank.
Transferring money between two bank accounts.

Shortcut Key: F4

Example:

Withdrawing ₹10,000 from the bank to replenish the petty cash fund would be recorded using a Contra Voucher.

Summary of Voucher Types in Tally Prime:

Voucher Type	Shortcut Key	Description
Receipt Voucher	F6	Records money received from customers or other entities.
Payment Voucher	F5	Records payments made to suppliers, employees, or for expenses.
Sales Voucher	F8	Tracks the sale of goods or services to customers.
Purchase Voucher	F9	Records purchases of goods or services from suppliers.
Journal Voucher	F7	For non-cash transactions like adjustments, depreciation, etc.
Contra Voucher	F4	Tracks money transfers between cash and bank or bank accounts.

Benefits of Using Vouchers in Tally Prime

Accurate Financial Records: Vouchers ensure that every transaction is accurately recorded.
Easy Auditing: Detailed voucher records make it easy to audit financial transactions.
Time-Saving: With pre-defined voucher types, recording transactions becomes quick and efficient.
Reports and Insights: Properly categorized vouchers allow businesses to generate accurate financial reports, such as balance sheets, profit & loss statements, and more.