KADG - T4 PAYV1 Journal Entry in TallyPrime with Final Accounts

Practical Accounting Project on Proprietorship Trading Business (T4 PAYV1)

In this Practical Accounting Project, We are learning Journal Entry in all type of Digital Accounting Software, but as the Time constrain and Indian Scenario, we have taken the example of TallyPrime entry with screenshot and references here.

So, anyone can do the same transactions, as refer in this page with TallyPrime, which is also similar or little bit different in screen look only, if you choose any other Accounting Software like Zoho books, QuickBooks, BUSY, Vyapaar , Marg etc and many others. 

The Transaction Process, that are given step by step is almost same and perfect for Digital Accounting ecosystem.

Digital Books of Account using TallyPrime

KA DIGITAL WORLD (KADG)

Transaction No.4(T4), Payment Voucher No.1(PAYV1) Entry in TallyPrime

Learning Objective from this Post :

• Journal Entry for Security Deposit Payment through Bank Account

• Creation of Security Deposit Ledger Account under Group 'Deposits (Asset)' using TallyPrime
  

• Payment Voucher Entry for the above transaction using TallyPrime
  

Business Details with Address

Trade Name : KA DIGITAL WORLD

Financial Year 2025-26, Assessment Year 2026-27

Address : Bhubaneswar, Khurda, Odisha, India, PIN - 751001

Constitution/Style of Business : Proprietorship

Nature of Business : Retail and Wholesale Trading of Computer, parts and accessories.

GSTIN - 21ABDAC5162K1ZM

  Transaction No.4  

Date : 01/04/2025

Amount paid to Mr. Ajay Mishra for ₹48,000/- towards Security Deposit for Office and godown Rent from Bank of India Current Account No.00000560077 through NEFT.

Journal Entry :

Steps to enter in TallyPrime

On Gateway of Tally Screen,

Press 'V' or select and press 'Enter' on 'Vouchers'

Press 'F5' or click on 'F5:Payment' for Payment Voucher Entry 

Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction.

Press 'Alt+C' where 'By/Dr' shows to create Ledger Account 'Security Deposit for Rent'

Ledger Creation on Voucher Entry Mode/Secondary Ledger Creation in TallyPrime

Press 'Y' or 'Enter' to save Ledger Account 'Security Deposit for Rent'

Place Debit Ledger and Credit Ledger Accounts with amount as shown in the image below.

Press 'Ctrl+A' or 'Y' or 'Enter' to Accept/Save Voucher.

Now Voucher Entry for the above transaction is Complete.

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