Deepak.G (Professional) (196 Points)
15 December 2011Hi to all,
What is the effect of passing a Contra entry(Cash to bank) as a payment type of voucher in TALLY???
For ex:- In tally
Cash a/c dr
To bank a/c
It should be passed as a Contra(type of voucher) Entry.
But it is being passed as a payment(type of voucher) entry.
Do this affect in anyway??
If yes pls give ur reasons..
Thanks in advance..
Balaji
(Articled assistant & CA final)
(117 Points)
Replied 15 December 2011
Firstly, its not possible to pass such a kind of entry in payment voucher(F5), If bank ledger is rightly created under bank account group... Try It, You can't pass this entry in Payment Voucher...
K. CHITRA
(CHARTERED ACCOUNTANT)
(66 Points)
Replied 15 December 2011
S. that is right. you will not be allowed to pass this entry in payment mode.
vinay
(Chartered Accountant)
(46 Points)
Replied 15 December 2011
We can do this type of entry with some alteration of tally settings.
Secondly Contra means no out flow of fund form company and payment denote payment i.e. fund flow out side the company.
jaganathan
(accounts executive)
(272 Points)
Replied 15 December 2011
You cannot pass payment entry, it is right for bank ledger but for cash ledger it is receivable. how can payment and receivable put together as a single voucher.
Yes, dear friend it does affect.
1 It will change the nature of transaction.
2 Cash will increase.
3 It also implies that u have paid sum1 directly through bank.
4 Depending upon what u debit in the entry it will affect ur accounts, for eg if u debit exps ur profit will decrease,etc.
According to me don't change the basic nature of any transaction.
All the best
Thnx
Pradeep Kumar Saini
(CA Final - Student)
(104 Points)
Replied 15 December 2011
you cannot pass the entry in payment voucher
Sunil
(Internal Auditor)
(334 Points)
Replied 15 December 2011
Dear friends nothing above will happen
You can do so by allowing contra in payment voucher by clikking on configuration button
Only thing i found is when you take the day book of cash book instead of contra voucher it will seen as payment voucher and it may also affect if you generate a report using range function by asking the vouchers that are contra etc
TARUN ARORA
(Fresher CA)
(132 Points)
Replied 15 December 2011
I THINK ITS IMPOSSIBLE TO PASS CONTRA ENTRY IN PAYMENT VOUCHER.....
Sunil
(Internal Auditor)
(334 Points)
Replied 15 December 2011
Dear Tarun
Please open the tally and go to voucher entry then change it into payment vocuher by F5 key then press F12 then you will see a field " use payament/receipt as contra" change it into yes and accept it. Now you can enter the contra entries in payment voucher
CA Sultan.........never quits
(Financial Controller)
(511 Points)
Replied 15 December 2011
Sunil has given solution. That is correct.
Deepak.G
(Professional)
(196 Points)
Replied 15 December 2011
Thanks a lot for Replies.. and as sunil said it is possible to pass it as a payment voucher by changing it in configuration settings..
What is the net effect of not passing it as a contra entry??
As vinay said one thing is that in Contra entry there is no out flow of fund form company and payment denote payment i.e. fund flow out side the company.
Anything else!!!
Shailendra
(Accountant)
(97 Points)
Replied 16 December 2011
hello friendss, Its possible that we can pass entry of abow discussed transaction,. Just go to payment voucher type (F5) then press F12 and u will find option of "USE PAYMENT AS CONTRA". if u change it as yes then u will be able to pss that entry.Also its not effect any ledger, but i should not pass in payment voucher type becouse its not a payment or receipt. Cash in hand and Cash at bank is our current balance. We just transfer our cash to bank or bnk to cash.Thans why it will be right that u pass that entry in Contr ovucher type... https://shailendra.caclubindia.com
karan
(none)
(84 Points)
Replied 02 January 2012
u cant pass this kind of entry , for pasing this entry either bank or cash needs to be debited but cash or bank cannot be debited in case of payment
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