Voucher Classes are used to automate accounting allocations in transactions. It is a table for predefining the entries to make invoice entry a simple task. This is useful in sales invoicing where the nominal ledger accounts to be credited for each item of sale is defined once.
During voucher entry, the accounting credits for items sold are done automatically. Additional accounting entries like tax, freight, and other charges, can be predefined to be carried out untouched during actual invoicing.
Voucher Classes are available for all major voucher types like Contra, Payment, Receipt, Journal, Sales, Credit Note, Purchases, Debit Note, Sales Order, Purchase Order, Delivery Note, Stock Journal and Payroll.
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Voucher classes for Credit Notes are similar to sales invoices except for one important inclusion. You can set the class for interest entries to enable adjustment of interest payable. If the Interest option is selected, the other sales invoice-like options will not be available. A separate class may to be created for entries like Sales Returns. Since Sales and Purchase Invoice classes have already been dealt with, we shall not elaborate on this behavior anymore.
Debit Note classes can be set for interest entries only. Classes for other entries are not available as the invoice mode of entry is not possible for Debit Notes.
The primary intention of using classes for payment, receipt and contra vouchers is to enable data input in single entry or list mode rather than in Tally's traditional double entry mode.
Let us take an example of a Payment Voucher .
You can either alter the existing Payment Voucher Type or create a new voucher type based on your requirements.
● Go to Gateway of Tally > Accounts Info > Voucher Types > A lter > Payment .
● Take the cursor to the Name of Class field. Give a name to the class say Cash Payment. You can create more than one class.
● Exclude these Groups and Include these Groups : Using this option, you can select only those groups pertaining to the Class, which makes the entry simpler.
● Ledger Name : Selecting the ledger account that will be used to pay out the money will eliminate the need to select it during entry. In this case, it is Cash Account. While passing the payment voucher, the Cash-Location B account will be automatically selected. You may even select 'Not Applicable'. The purpose of selecting 'Not Applicable' will be, to permit Single Entry mode and at the same time retaining the option of selecting the account during entry.
Note: Exclude or Include Groups are irrelevant when you specify a Ledger Name for which the class is created. They are useful when you select Not Applicable .
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