Accounting Voucher : PAYMENT F5

 Payment F5:

Payment voucher is used to record all bank and cash payments. 

For example, a company settles a creditor's bill by cheque.

 Go to Gateway of Tally > Accounting Vouchers > F5: Payment .

Payment voucher can be passed using Single Entry or Double Entry mode by configuring the setting Use Single Entry mode for Pymt/Rcpt/Contra in F12: Configure 

Types of Payment:      a)  Payment by cash         b) Payment by Cheque /Bank

For example : The company settles expenses of Salary , paid to mithran customer Cash in one voucher. This entry can be passed in single entry mode where you will be crediting the Cash Ledger only once and the entry appears as shown below:

I)  Payment by cash  

Single Entry Cash Payment

Payment to Party A/c

II. Payment by Cheque:

1) Salary paid by cheque

2) Amt paid to Mithran supplier by cheque.

Payment by Cheque 

Payment by cheque to  Party 

Payment in Voucher  double entry mode

When you have multiple debits and credits in an entry, double entry mode is the suggested way of passing the entry.

Payment voucher can be passed using Single Entry or Double Entry mode by configuring the setting Use Single Entry mode for Pymt/Rcpt/Contra  is in F12: Configure .

Payment  in Double Entry Mode

Payment by cheque using double Entry 

Cash payment using double entry

Cash payment using Double Entry

Try it yourself:

1.      1.5.2020 ₹ 7800 paid to sujatha supplier

2.      1.5.2020 ₹ 6500 paid rent

3.      2.5.2020 ₹. 4500 paid EB

4.      2.5.2020 ₹. 1000 paid Commission

5.      1.5.2020 ₹ 7800 paid to sujatha supplier

6.      1.5.2020 ₹ 9500 paid  to guna debtor by cheque

7.      2.5.2020 ₹. 500 paid phone bill by cheque

8.      2.5.2020 ₹. 4000 paid loan by cheque

9.      31.5.2020 ₹.2500 paid tax by cheque 

        For Payment Class Video : Payment F5