Cash payment 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. In TallyPrime, you can record such cash payments in single entry mode. If you are unfamiliar with the accounting rules, you can use the single-entry mode of accounting. Once you select the ledgers correctly, TallyPrime automatically records your transaction as per the accounting rules.

Suppose you want to make payment through Cash for Conveyance and Telephone expenses incurred in your business. You need to select Cash account under the Account field and under Particulars select the conveyance and telephone accounts and enter the respective amounts. Similarly, you can make payments to your suppliers. You have to select your supplier account under Particulars, and you can record the transaction.

In the below example, let’s record cash payment for Conveyance and Telephone expenses in single entry mode.

1. Open the Payment Voucher in single entry mode.
   1. Press Alt+G (Go To) > Create Voucher > press F5 (Payment).
      Alternatively, Gateway of Tally > Vouchers > press F5 (Payment).
   2. Press Ctrl+H (Change Mode) > select Single Entry.
2. Select the Cash account, and Expenses account.
   1. In the Account field, select the Cash ledger.
   2. Under Particulars, select the Conveyance and Telephone ledgers, and enter the corresponding amounts.
      
3. Accept the screen. As always, you can press Ctrl+A to save the payment voucher.

Bank payments in Single Entry mode

You can make bank payments and record them using the Payment voucher. In the Receipt voucher, select the Bank account under the Account field and expenses or party ledger under Particulars. You can make payments for more than one expense or to more than one supplier through a single voucher in case they are sister concerns.

Select more than one Transaction Type and allocate the amount to each Transaction Type by providing the required details. In this case, let us make payment for a Furniture purchased.

1. Open the Payment Voucher and in single entry mode.
   1. Press Alt+G (Go To) > Create Voucher > press F5 (Payment).
      Alternatively, Gateway of Tally > Vouchers > press F5 (Payment).
   2. Press Ctrl+H (Change Mode) > select Single Entry.
2. Press F12 (Configure) and set the option Set Ledger-wise Bank Allocations during voucher creation to Yes, to view the bank details defined in the party ledgers.
3. Select the Bank account and Furniture account.
   1. In the Account field, select the Bank ledger.
   2. Under Particulars, select the Furniture ledger, and enter the corresponding amount.
4. Provide the bank details in the Bank Allocations screen.
   1. Select the required Transaction Type.
      The Transaction Type is by default set to Cheque in the Bank Allocations screen. You can change it as needed, for example, e-Fund Transfer, Electronic Cheque, and so on.
      If you do not find the required Transaction Type, select Show More in the Transaction Types list and press Enter.
      You can configure the Bank Allocation screen, by pressing F12 (Configure).
      

      When you change the Transaction Type from Cheque to any other type in the voucher creation/alteration screen, the instrument number will be removed if a cheque range was used. The instrument number entered without using cheque range, will be retained.

   2. Enter the details in the remaining fields.
      
   3. Press Ctrl+A to save the Bank Allocations screen.

      In the case of a Cheque, you can choose the same or different cheque range. If you choose the same range, the subsequent cheque numbers automatically get filled in the Inst No. field.

5. Accept the screen. As always, you can press Ctrl+A to save the payment voucher.

Similarly, you can do payments towards capital expenditure also.