Passing a payment entry instead of contra entry

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...

S. that is right. you will not be allowed to pass this entry in payment mode.

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.

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

you cannot pass the entry in payment voucher

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

I THINK ITS IMPOSSIBLE TO PASS CONTRA ENTRY IN PAYMENT VOUCHER.....

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

agreed with sunil

Sunil has given solution. That is correct.

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!!!

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

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