TallyPrime - Contra Voucher Entry for Inter-Bank Fund Transfer(within an Organization or Entity)

What is Inter Bank Fund Transfer ?

Inter Bank Fund transfer means Fund or amount transfer from One Bank Account of a Business Organization to another Bank Account of the same Organization/Entity. 

Let's take an example for better understanding.

Example :

Date : 31/03/2022

M/s. Trimurthy Traders is an Account holder of the following Banks.

Axis Bank : Axis Bank Current Account.

HDFC Bank : HDFC Bank(Cash Credit) Account.

For any reason M/s.Trimurthy Traders transferred ₹1,10,000/- from Axis Bank Current Account to HDFC Bank Cash Credit Account.

Journal Entry :

What are the steps of Contra Voucher Entry for above transaction ?

• On GOT(Gateway of Tally) Screen, press 'V'
• Press 'F4' if Contra Voucher is inactive/to come to Contra Voucher Mode.
• Press 'F2' to enter Date of Voucher
• Place 'Debit' Ledger Account with amount where 'By/Dr' shows.
• Place 'Credit' Ledger Account with amount where 'To/Cr' shows.
• Press 'Ctrl+A' to accept/save voucher.

On GOT(Gateway of Tally) screen select and press 'Enter' on 'Vouchers'.

or Press 'V' on GOT screen.

Press  'F4' or click on 'F4:Contra' available in Menu Bar.

If already in Contra Voucher mode continue from the image shown just above.

Press 'F2' to enter date of transaction.

Select and press 'Enter' on 'Axis Bank Current A/c' where 'To' or 'Cr' shows.

If 'Axis Bank Current A/c' is not available in the List of Ledger Accounts, Create this Ledger Account.

Select and press 'Enter' on 'HDFC Bank(Cash Credit) A/c' where 'By' or 'Dr' shows.

If 'HDFC Bank(Cash Credit) A/c' is not available in the List of Ledger Accounts, Create this Ledger Account.

Write amount of fund transferred in both Debit and Credit Column.

Press 'Ctrl+A' to accept/save voucher.

Now Contra Voucher Entry for the above transaction is complete.