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Tally entries

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Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2016 Respected Sir,
while doing bank statement's entries in tally7.2, we put all the credit side (Deposit side) items in Receipt Vouchers and Debit side (Withdrawal side) items in Payment vouchers.
but while looking in the ledger it shows all receipts entries under Debit column & all payment entries under credit column.why it shows opposite? Can you please give explanation

Rupesh Jain

Rupesh Jain (Expert)

27 May 2016 sir, we make payment in bank, its means you are deposit the amount you have debit the bank and credit the debtor/cash. and you make payment then you credit the bank and debit to exp./creditors.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

27 May 2016 It because in Tally if any amount comes it will debited that means debit balance as assets and if goes/withdrawal it will credited as reduction. exact opposite of bank statement.

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