https://help.tallysolutions.com/docs/te9rel64/Banking/e-payments.htm

e-Payments in Tally.ERP 9

The e-Payments feature in Tally.ERP 9 allows you to make electronic fund transfer from one bank to another. You can choose to make payments through e-Fund Transfer, Electronic Cheque or Electronic DD/PO.

Using the e-payment feature you can simplify your payment process with utmost security of your financial data.

e-Payments in Tally.ERP 9 is supported for both vendor and payroll payments.

Banks Supported in Tally.ERP 9 for e-Payments

Tally.ERP 9 provides end-to-end e-payments support for the following banks:

Banks

How e-Payments Work?

DBS Bank (India)

For customers using DBS bank, the e-Payments feature provides a seamless integration between the business and the bank on real time. You can directly send all completed transactions to the bank online with the click of a button, and access real-time status of the transactions.

To know more about e-Payments, watch this video:

Standard Chartered Bank (India)

Customers of Standard Chartered Bank (India) can enable e-payments in their bank masters by selecting this bank name in the bank master. You can simply record the bank and party masters with all mandatory bank details and make the voucher entry to export transactions directly at the voucher creation level. You can also rectify incomplete or modified voucher entries from the e-Payments report and then export the transactions locally.

Standard Chartered Bank (UAE)

For these banks, you must primarily contact your bank relationship manager for activation of the e-Payments facility. After your bank activates the e-Payments facility, you can enable e-Payments in Tally.ERP 9 by selecting the respective bank name in the bank ledger. You can export completed e-payments transactions from the voucher level or from the e-Payments report.

Kotak Mahindra Bank (India)

YES Bank (India)

ICICI Bank (India)

Tokyo & Mitshubishi (India)

HDFC Bank

For making instant payments, you can specify the modes of payments by enabling e-payments in your bank ledger (if you are using one of the banks listed in the table above).

Benefits of Using e-Payments

With the e-Payments capability, you can:

Send e-payments transactions directly to the bank (in case of DBS) or export them locally (in case of other banks listed above).

Specify online payment options supported in Tally.ERP 9 for fund transfer.

View and track status of transactions that are already sent to the bank.

Open the bank's portal from the e-Payments report to log in and authorise transactions.

Modes of e-Payments (Electronic Payment Options)

Tally.ERP 9 supports the following modes of electronic payments:

e-Fund Transfer - E-fund transfer allows you to transfer funds from one bank to another electronically. Depending on the bank details you enter, Tally.ERP 9 automatically identifies if it is Same Bank or Inter Bank transfer.

e-Cheque - You can select the e-cheque payment mode while recording your payment transactions, and send the transactions to bank.

e-Demand Draft/PO - You can use e-Demand Drafts/PO as a mode of payment while entering bank details in transactions.

Note: You can set any mode of e-payments as the default mode in the Ledger Masters, and the same will be captured automatically during voucher entry.

e-Payments Process

Create a bank ledger with complete bank details, and enable e-payments.

Create a party ledger with the party's bank details, including the electronic payment mode.

Record a transaction by creating a payment voucher with the bank ledger and party ledger .

o In case of DBS, by sending the transaction to the bank directly.

o In case of other banks, by exporting the transactions to the local system.

If the bank details in the ledgers are not complete or the party bank details are modified while creating the payment voucher, go to the e-Payments Report for updating the bank details.

Send the transactions to DBS, and authorise on the bank's portal or

Export the transactions for other banks

See Also

Creating Tally.NET User

Enabling e-Payments Features