Journal Voucher

Journal Voucher entries in Tally are the most widely used accounting entries after payment and receipt entries. They are referred to as adjustment entries. Generally, journal entries are created for closing books of accounts at the end of the year or for adjusting entries.

Major journal entries which are used in day-to-day transactions. They are:

  1. Accrued Income entry (earned but not yet received)
  2. Depreciation entry
  3. Bad Debt’s

Gateway of tally ——> Accounting voucher ——> Journal (F7)

  1. Journal Entry for Deprecation Tally

Furniture worth Rs. 15000 depreciated and accounted @ 10% & Plant and Machinery valued Rs 250000 depreciated @ 15% at the end of the FY 31-03-2023

Furniture (under fixed assets with opening balance 15000 (10% is 1500)

Plant and machinery (under fixed assets with opening balance 250000 (15 % is 37500)

Dr. Depreciation —–>39000

Cr. Furniture   —–> 1500

Cr. Plant and machinery —–> 37500

To See report, Check balance sheet & Profit & Loss

To see in detail Press Alt + F1                                                        

Assets will show on balance sheet

Indirect expenses (depreciation) will be shown in profit & loss

Adjusting Journal entry in tally ERP9

Outstanding telephone bill from BSNL for the month of May 2023 is 2500.00, Bill received on 10th of June 2023, but bill due date is 25/6/2023

Dr. Outstanding Telephone Expenses —–> 2500 (Indirect Expenses)

Cr. Telephone expenses payable ——> 2500 (Current liability)

  • Amount we have not received due to bad debt’s
  1. Create a sundry debtor (Sachin and Co) with opening balance as 50000 rupees
  2. Create bad debts under indirect expenses

Now pass journal entry (F7)

Dr. Bad debt’s ——-> 15000 (amount not received due to bad debt’s)

Cr. Sachin & Co. ———> 15000

To See report, Check balance sheet & Profit & Loss

To see in detail Press Alt + F1

Assets (sundry debtors) will show on balance sheet

Bad debt’s will be shown in profit & loss

  • Fixed asset accounting in tally ERP 9

When purchasing a fixed asset on credit from a party we debit fixed asset and credit party account.

ABC Ltd bought Furniture for Rs 50000 from Woodland furniture on 01-04-2023

Hints: –

Woodland furniture —–> sundry creditors

Furniture ——> Fixed assets

Dr.  Furniture

Cr. Woodland furniture

To See report, Check balance sheet

To see in detail Press Alt + F1

Liability will show on balance sheet

Outstanding expenses will be shown in profit & loss

  • HDFC Bank deducted service charges of Rs. 250 on 1/4/2023

Cr. HDFC

Dr. Bank Commission and Charges (indirect expenses)

Note. May be payment entry but we have not paid to bank as it was deducted by bank from our account

Press F12 to Configure Journal Voucher,

Allow Cash account in Journal Voucher ——> Yes

  • Started business with cash of 5000

Hints: – dr. cash / cr. Owner capital (capital account)

  • Started a business with 150,00 of which 4,000 were borrowed with 15% from Modi & co.

Dr. Cash ——> 15000

Cr. Owner capital ——> 11000

Cr. Modi & Co. (sundry creditors) ——> 4000

  • Novelty Stationary started with business with cash 12000 and furniture of Rs. 18000

Dr. cash ——>12000

Dr. furniture —–> 18000

Cr. Novelty Stationary (capital account) —–>30000