Receipts are something that every person loves to have. It is very easy to create receipts entry in Tally once you know the exact process which I am going to explain in this post in a very detailed way.
First of all there are hundreds of different types of receipts but accounting for all of them is same.
I will explain you the concept of receipt vouchers in Tally with the help of examples.
Shortcut for Receipt Entry in Tally is F6.
In this post, I will take the following examples of receipts.
- Receipt of Bank Interest in Bank Account
- Receipt of a Cash from a Debtor
Let’s start with it right now.
Creating Receipt Entries in Tally
Let’s start with the first example of the receipt of interest in bank.
I am talking about the interest which a bank pays on its savings account deposits to its customers.
It is a simple receipt entry.
I have already created ledgers for the receipt entries which I am going to explain in this post.
You can see my post on creating ledgers in Tally to learn how you can create ledgers in Tally very easily.
From Gateway of Tally, press V and then F6, and you will be directly in the Receipt Voucher in Tally.
That was the shortcut route. I have created a PDF of 100+ shortcuts in Tally like the one above.
If you want to take the long route, here is the long route.
From Gateway of Tally, go to Accounting Vouchers. Then select Receipt from the Right Hand Side Green Bar as shown in the picture.
Now you are in receipt voucher in Tally. Let’s start with the examples.
Receipt of Bank Interest in Bank Account
When you receive interest in your bank account, Interest account gets credited and Bank Account gets debited.
Let’s say we got bank interest of Rs.1,000 in our bank account. The entry for this transaction in Tally will be as under:
In the above transaction, Bank Interest got credited by Rs.1,000 and Bank Account got debited by Rs.1,000.
If you receive anything in your Bank Account other than interest, just change the ledger and you will easily be able to create the receipt entry for the same.
For example, you received a payment for selling goods, then instead of Bank Interest, Debtors Account will get credited.
Now, let us look at the second entry i.e. which is receipt of cash from a debtor.
Receipt of Cash From a Debtor
I have selected this entry because it covers almost every receipt transaction you would have. The difference is instead of Debtor, you would have some other account.
And I have already explained you receipt through Bank Account just above this entry.
When you receive cash, Cash Account gets debited and Debtor’s Account gets credited.
Let’s say we got Rs.5,000 in cash from a debtor named Amit. The entry for this transaction in Tally will be as under:
In the above transaction, Amit’s Account (Debtor) got credited and Cash Account gets debited.
This is how the receipt entry is done in Tally. It is easy and simple.
At the end…
Receipts Entry in Tally or Receipt Voucher in Tally is one of the most simple entries in Tally that I have found till date.
You will receive cash by two major ways in normal business transactions which are:
- Via Bank
- Direct Cash
I have tried to explain both of them in the post and I believe that after going through both of them, you will be easily able to create receipt entries in Tally.
Still, if you have any difficulties, comment down below and I will be happy to solve any of your difficulties.