![]() ![]() If you are unfamiliar with the accounting rules, you can use the single-entry mode of accounting. ![]() In TallyPrime, you can record such cash payments in single entry mode. In business, you can pay daily wages, regular business expenses like stationery, printing, postage, and other miscellaneous expenses, or payments to your suppliers with cash as it is an instant payment method. Provide narration for each ledger in the payment voucher.You can use a Payment voucher to record cash and bank payments using Single Entry or Double Entry mode. You can record your payments and receipts in the Journal Voucher as well and view the transactions in the Journal Register. This option displays outstanding bills and you can select them before entering the amount. Alternatively, you can use the pre-allocation bill option. In TallyPrime, you can adjust those bills after entering the amount received or paid. ![]() You can settle suppliers’ and customers’ bills by recording payments and receipts against bill numbers. In TallyPrime, such Contra entries are recorded using Contra Vouchers, however, you can record the Contra entries using Payment and Receipt vouchers. Apart from the Payment and Receipt Register, TallyPrime provides you with the Receipts and Payments Report, which you can view as is or also configure as per your requirements.Ĭontra entries refer to transactions between cash and bank such as cash deposited in the bank, or cash withdrawn from the bank. Once recorded, you can see such vouchers in the Payment and Receipt Register. In TallyPrime, the payments and receipts are recorded using the Payment and Receipt Voucher. You can print the payment and receipt vouchers and also print and share an acknowledgement of receipt with your customers. Such payments and receipts can be done through cash or bank, as well as through other payment methods such as online payments, credit or debit cards and so on. Every business incurs expenses and generates income which is recorded to track the payments and receipts. ![]()
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