Money in? Receipt.
When money comes into your bank — from a customer, as income, from anyone — it goes in as a Receipt.
Money out? Payment.
When money leaves your bank — to a supplier, for rent, for tax — it goes in as a Payment.
Between your own accounts? Contra.
Cash deposited, cash withdrawn, money moved from one of your banks to another — these go in as Contra, just as they should.
It follows your ledger
Change the ledger and the voucher type changes with it. You never have to fix one after the other.
You see it before it’s posted
The voucher type is right there on every entry and again in the final check, so Tally never surprises you.
Questions
How does it know an entry is a transfer?
From where the ledger sits in your Tally. If it’s under your bank accounts or Cash-in-Hand, the entry is treated as a transfer. Keep your ledgers in the right groups and the rest follows.
Which voucher types does it post?
Every bank statement line is money in, money out or a transfer, so your entries go in as Receipt, Payment or Contra.
Goes well with
Every feature · Set it up · How it works · About the extension