Mastering Payroll Management in Tally: Payroll Entry In Tally With Example

by ADAMSeptember 05, 20230 Comments

 Welcome back to our Tally Blog today we are going to talk about payroll entry in tally with example if you guys are learning how to use tally then this post can help you because in this post we show you how can you use tally to add payroll entry in tally with example.


If you guys didn't know what is payroll in tally and why we use it then you can go to use post and read about payroll in tally.


Now get back to our example, In this given payroll example you can learn how to make a payroll in tally ERP 9.


Now let's start our example


Payroll In Tally With Example


Let's assume you have a small company with two employees, ANNU, and SHANU, and you're processing their monthly salaries for the month of September 20XX. You need to record their basic salary, allowances, and deductions. 


Let's assume you have a small company with two employees, ANNU, and SHANU, and you're processing their monthly salaries for the month of September 20XX. You need to record their basic salary, allowances, and deductions.



 Payroll In Tally Step-By-Step


Step 1:-  Employee Information:


  • Employee Name: ANNU
  • Employee ID: EMP001
  • Basic Salary: $3,500
  • Allowances: $500
  • Deductions (Tax): $300


Employee Name: SHANU


  • Employee ID: EMP002


  • Basic Salary: $4,000


  • Allowances: $600


  • Deductions (Tax): $350


Step 2:- Now Do Payroll Entry in Tally 


Open Tally and then select the company for which you want to record the payroll entry.


  • Navigate to "Gateway of Tally."
  • Select "Accounting Vouchers."
  • Choose "F5: Payment" to record the salary payments.


Note:- salary payable under which head? 

This question is asked by so many people so let me tell you that  It's listed under the head of current liabilities.


Step 3:  Now fill in voucher entry details as follows:


  • Date: September 30, 20XX (or the date of payment)


  • Employee Name: ANNU(EMP001)


Particulars: Salary


Debit: Basic Salary - $3,500


Credit: Allowances - $500


Credit: Tax Deductions - $300


  • Employee Name: SHANU (EMP002)


Particulars: Salary (Create a ledger if not already created)


Debit: Basic Salary - $4,000


Credit: Allowances - $600


Credit: Tax Deductions - $350


Step 4:- At the end please that Verify that the total debit amount matches the total credit amount.


Step 5: - Save the voucher entry.


Conclusion 


Here in this post, we add an example for payroll in Tally so if you are learning to use tally then you should read this post till the end.


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