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e-Payments in TallyPrime

Using the e-Payments facility in TallyPrime, you can send payment instructions to the bank quickly and securely, without visiting the bank. To use e-Payment as a mode of payment you need to configure your bank ledger. You can record a payment voucher and select e-Payment as the mode of payment and later export the payment instructions which can be loaded to the bank portal. In TallyPrime, you can also reconcile your e-Payment transaction. The process of e-Payment reconciliation is also much simpler. Bank portals provide you with an intermediate/payment reverse file that records the status of your e-payments upload. You only have to import the intermediate/payment reverse file to TallyPrime, and TallyPrime will update the reconciliation status for you. You can view and track the status of your e-payment transactions using the e-Payments report and identify any incomplete information or mismatch in beneficiary details. 

Apart from cheques, the most used payment mode is e-Payment in the business. e-Payment is a method of paying online or through an electronic medium. The most popular methods of e-Payment are Credit Cards, Debit Cards, UPI payments and so on. Online payment or e-Payment became popular as it improves the relationship with the suppliers due to the transparency, security and fast transfer of money. It also reduces the risk as Electronic payments are much more efficient and safe due to the multiple ways of securing your payments.

All the banking information and transactions that you maintain in TallyPrime are safe. However, you can provide additional security by authorising only certain users for e-Payments reports and operations. You can also create users with different levels of rights.

Configure Bank Ledger for e-Payments

To make the payments to the parties through online payment or e-Payment you need to enable e-Payments in your bank ledger. Once enabled you can configure the e-Payments option depending on the bank through which you have enabled the e-Payments facility. You can configure your Bank ledger for e-payments only for selected banks.

If you are on TallyPrime Release 6.0 or later, then refer to Configurations for e-Payments.

If you are on TallyPrime Release 5.1 or earlier versions, then click here

1. Select the bank ledger.
   1. Press Alt+G (Go To) > Alter Master > type or select Ledger > and press Enter.
      Alternatively, Gateway of Tally > Alter > type or select Ledger > and press Enter.
   2. Select the bank ledger. For example, Kotak Mahindra Bank.
2. Enable e-Payment in bank ledger.
   1. In the Ledger Creation/Alteration screen for Bank Ledger, press F12 (Configure).
   2. Enable Set Bank Reconciliation and e-Payments.
   3. Press Ctrl+A to accept the screen.
3. Configure e-Payments.
   1. In the bank ledger, under Bank Configuration, set Enable e-Payments as Yes.
      The option Set/Alter e-Payments configuration appears. 
   2. Enable Set/Alter e-Payments configuration.
      The configurations are applicable based on the bank that you select under Bank Name. The screen below displays the options applicable for e-Payments with Kotak Mahindra Bank.
      
   3. Update the configuration as required and press Ctrl+A to accept the screen.
4. As always, press Ctrl+A to accept the screen.

You can start recording payment vouchers with e-Payment as the mode of payment after you configure the bank ledger with the e-Payment option.

e-Payment Configuration

Different banks have different needs in e-payments, and TallyPrime allows you to configure these specific features in the respective bank ledger. The options appearing in the configuration depending on the bank ledger selected are shown below.

• Export/Upload Payment Instructions on voucher creation: This option allows you to export the payment instructions immediately after recording a payment voucher. If your bank account belongs to DBS, then this option allows you to directly upload the payment instructions to the bank portal. If you set this option to No, then you can export the required transactions from the e-Payments report.
• Allow export of transactions with mismatch in Bank Details: You can maintain the bank account details of a party in the party master. While recording a transaction, these account details will be automatically carried forward. You can also update these details during the transaction if required. Subsequently,
  • If this option is set to Yes, then any mismatch in the bank account details will be ignored. The transaction will appear in the Ready for Sending to Bank section of the e-Payments report.
  • If this option is set to No, then the transaction will appear in the Transactions with Mismatch in Bank Details (with Masters) section of the e-Payments report.
• Export payment file in encrypted format: This option will provide additional security for your e-payments. The exported files will be encrypted to prevent unauthorised modification. After enabling this option, you will have to specify the folder path where the encryption tool is located.
• Generate Payment Instructions in batches: This option allows you to export transactions in batches or groups. For example, you can export all your expense-related transactions or your party payments in specific batches and approve the respective batches on the bank portal.
• Specify Product Code based on: This option allows you to configure the Product Code based on the payment type (for vendor or employee payments) or voucher type/class (for contra, credit note, journal, and so on).
• Set/Alter output file name for Payment Instructions: This option allows you to configure the file name of the exported Payment Instructions. The file name consists of details such as the Customer Code and Format Code, which are provided by the bank. You can update these details if required.
• Format of Payment Instruction file for Export: You can select the format in which the payment instruction file has to be exported from the list of file formats. The existing (old format) is Fixed Width – Corporate Net Banking and the new format is Delimited (|) – Corporate Net Banking. Fixed Width would be set as default when your data is migrated and in the Export Payment Instruction screen, the File Format displayed would be Fixed Width for old and Delimited (|) for new.
• Folder Path for Payment Instructions: You can update the path where payment instructions will be exported if required. The default path will be set as per the path provided in Export Configuration.
• Folder Path for new Intermediate Files & Folder Path for imported Intermediate Files: For all the exported transactions, the bank portal will provide an intermediate (or reverse) file that records the reconciliation status. Accordingly, you can import this intermediate file to TallyPrime to reconcile your e-payment transactions.
  In Folder Path for new Intermediate Files, you can specify the default path where you want to save the new intermediate files before importing them to TallyPrime.
  In Folder Path for imported Intermediate Files, you can specify the default path where you want to save the intermediate files after export.

List of configurations supported by each bank.

Configuration	Supported Bank
Export payment file in encrypted format	Bank of Baroda (TallyPrime release 1.1.3 onwards) SCB (India), ICICI Bank, Citibank,
Export/Upload Payment Instructions on voucher creation	DBS Bank (India), Standard Chartered Bank (India), Standard Chartered Bank (UAE), Kotak Mahindra Bank (India), YES Bank (India), ICICI Bank (India), Federal Bank (India), Tokyo & Mitsubishi (India), HDFC Bank (India), Citibank (India), RazorpayX (India), Bank of Baroda, Axis Bank (India), AU Small Finance Bank, IDFC First Bank, South Indian Bank (India), Bandhan Bank
Allow export of transactions with mismatch in Bank Details	DBS Bank (India), Standard Chartered Bank (India), Standard Chartered Bank (UAE), Kotak Mahindra Bank (India), YES Bank (India), ICICI Bank (India), Federal Bank (India), Tokyo & Mitsubishi (India), HDFC Bank (India), Citibank (India), RazorpayX (India), Bank of Baroda, Axis Bank (India), AU Small Finance Bank, IDFC First Bank, South Indian Bank (India), Bandhan Bank
Folder Path for Payment Instructions	DBS Bank (India), Standard Chartered Bank (India), Standard Chartered Bank (UAE), Kotak Mahindra Bank (India), YES Bank (India), ICICI Bank (India), Federal Bank (India), Tokyo & Mitsubishi (India), HDFC Bank (India), Citibank (India), RazorpayX (India), Bank of Baroda, Axis Bank (India), AU Small Finance Bank, IDFC First Bank, South Indian Bank (India), Bandhan Bank
Specify Product Code based on	HDFC Bank, Kotak Mahindra Bank, Bank of Baroda
Set/Alter output file name for Payment Instructions	ICICI Bank
Generate Payment Instructions in batches	Kotak Mahindra Bank
Folder Path for new Intermediate Files	SCB (India), HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Bank of Baroda, RazorpayX (India), Axis Bank (India),  Federal Bank (India), AU Small Finance Bank (India), South Indian Bank (India), Bandhan Bank
Folder Path for imported Intermediate Files	SCB (India), HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Bank of Baroda, RazorpayX (India), Axis Bank (India),  Federal Bank (India), AU Small Finance Bank (India), South Indian Bank (India), Bandhan Bank
Format of Payment Instruction file for Export	Yes Bank (TallyPrime Release 1.1.3 onwards)

To know about the contact details of banks for e-Payments, click here.

Record e-Payment Transactions

1. Press Alt+Z (Exchange) > Send Payments.
2. Select the bank ledger for which you want to export payment instructions.
   

   If you want to add transactions with mismatch in the Bank Details, then press Ctrl+B (Basis of Value) and enable Include Transactions with Mismatch in Bank Details.

3. Select transactions to export.
   
   1. Press F12 (Configure) to view the transactions with the required details.
      
   2. Select transactions using Spacebar.
   3. Press X (Export).
      
4. Export the selected transactions.
   1. Press C (Configure) to configure the export.
   2. Press E (Export) to export the payment instructions.
      

Alternatively, to export payment instructions for multiple payments, follow the steps given below:

Use e-Payments Report

The e-Payments report provides you with an overview of e-Payment transactions recorded in TallyPrime. The report is divided into sections, and you can find transactions in the respective section, based on their status. This helps you take appropriate actions on the transactions, so that you can send payments to your suppliers.

• Press Alt+G (Go To) > type or select Banking Activities, press Enter, and then drill down from the e-Payments column for a specific Bank ledger.
  Alternatively, Gateway of Tally > Banking > Banking Activities, and then drill down from the e-Payments column for a specific Bank ledger.
  

You can also view the Available Balance as per Bank for the connected bank accounts. If you are using the Bank account or ledger through Connected Banking and have check your balance from TallyPrime, then you will view the bank balance as per the bank.

You can view change the Bank Ledger for which you want to view the report.

1. Press F4 (Bank Ledger).
2. Select the ledger and press Enter.
   
   If you want to view the report for all the banks, then select All Items and press Enter.
   The report gets displayed for the selected ledger.
   
   You can also change the Bank Ledger after you drill down from any of the sections.

The sections are categorised, based on the readiness for sending the payment. If the details in a transaction or ledger are incomplete, incorrect, or mismatch, then you can drill down from the section and resolve the transactions. 

Similarly, you can view the transactions that are sent to the bank with the applicable status.

Once you drill down, you can view the transactions recorded for a party.

1. Press Ctrl+F4 (Ledger).
   
2. Select the ledger and press Enter.
   
   The report gets displayed with the transactions recorded for the party.

You can view the report for specific payment types. Furthermore, you can include the transactions with exact match available in Bank Reconciliation.

When you drill down from a specific section of the report, you can also filter the report to view transactions with a specific payment type. 

1. Press Ctrl+B (Basis of Value).
   
2. Select the Payment Type.
   1. Press Enter on Payment Type.
   2. Select the option, based on the type of payment, such as Payroll or all payments excluding Payroll.
3. Include Transactions with Exact Match Available in Bank Reconciliation: Yes.
   The report displays the transactions that have an exact match in the Bank Reconciliation report.
4. Include Payments with Transfer Mode: When you drill down from a section, you can choose to view transactions with a specific transfer mode.

Pending for Sending to Bank

This section contains transactions that are either ready to be sent to the bank or require action. You can configure this report to view the required information. Moreover, the same configurations are available when you drill down from Incomplete/Incorrect Bank Ledger Master Details, Incomplete/Incorrect Transaction Details, Mismatch in Bank Details (With Masters), and Ready for Sending to Bank.

1. Press F12 (Configure).
2. Show Instrument Date: Yes.
3. Format of Report: Detailed.
4. Configure the details that you want to view.
   1. Show Narrations: Yes.
      This displays the narration entered in the voucher.
   2. Show Favouring Name: Yes.
   3. Show Remarks: Yes.
   4. Show E-mail ID: Yes.
   5. Show Party Bank Details: Yes.
   6. Show Bank References and Status: Yes.
      

Incomplete/Incorrect Bank Ledger Master Details

When you do not have the required bank details such as Account No. and IFS Code in the bank ledger, the transaction with the ledger is found in this section.

1. In the e-Payments report, drill down from Incomplete/Incorrect Bank Ledger Master Details.
2. Select the row and press Enter.
   The Bank A/c details screen appears.
   
3. Enter the correct Account No./IFS Code/SWIFT Code or any other missing information.
4. Press Ctrl+A to save the details.

The transaction moves to the Ready for Sending to Bank section.

Incomplete/Incorrect Transaction Details

This section contains transactions with missing or incorrect Account No. or IFS Code. You can drill down further and correct the transaction details.

1. In the e-Payments report, drill down from Incomplete/Incorrect Transaction Details.
2. Select a transaction and press Enter.
   The Bank Allocations screen appears.
3. Enter the correct Account No./IFS Code or both, as applicable.
   Alternatively, press Alt+S (Copy Master Info.) to copy the details from the master to the transaction.
   
   Note: If your bank is in UAE, then you need to enter the IBAN No. 
4. Press Ctrl+A to save the details.

While saving the details, you can do one of the following:

• Press A to accept the transaction with the information you entered.
• Press R to replace the bank details in the master with the details specified in the voucher.
  The R: Replace button appears if bank details have been specified in the master.
• Press D to accept the transaction and also update your ledger.
  This option will not appear while you are copying the details from the master.
• Press B to make any changes in the Bank Details (Voucher) section.

The transaction moves to the Ready for Sending to Bank section.

Mismatch in Bank Details (With Masters)

If the bank details in the transaction does not match with that specified in the ledger, then the transaction is found in this section.

1. In the e-Payments report, drill down from Mismatch in Bank Details (With Masters).
2. Select a transaction and press Enter.
3. Press Alt+S (Copy Master Info.) to copy the details from the master to the transaction.
   
   If you do not want to make changes in the transaction and accept it as is, then press Alt+J (Access As Is).
4. Press Ctrl+A to save the details.

The transaction moves to the Ready for Sending to Bank section.

Ready for Sending to Bank

This section contains transactions with all the information required by the bank. 

You can send payments to your suppliers by exporting the payment file and uploading on the respective bank portal.

1. In the e-Payments report, drill down from Ready for Sending to Bank.
2. Press Alt+Z (Exchange) > Send Payments.

To know more, refer to Export/Upload Payment Instructions to the Bank.

Sent to Bank (Unreconciled)

This section contains the transactions for which you have exported the payment instructions from TallyPrime and uploaded them on the bank portal. However, these payments are yet to be reconciled by importing the reverse file provided by the bank.

The sub-sections are categorized based on the status of the e-Payment – In Progress, Unsuccessful, and Successful.

The transactions in progress or unsuccessful will not have an Instrument No., while the successful ones contain the Instrument No.