The first stage in an accounting cycle, according to accounting terminology, is to record a journal entry of a business transaction using a double-entry system. Each transaction affects at least two accounts, with an equal amount being “debited” from one and “credited” to the other.
In Tally, a journal voucher is a significant voucher that is used to record all types of adjustment entries, credit purchases or sales, and acquisitions of fixed assets.
Here are few advantages of importing journal entries from Excel to Tally.
Multiple Dr./Cr. Ledgers
Journal entries with numerous debit and credit ledgers can be imported. In a single voucher, up to 30 debit and credit ledgers may be utilized (professional version).
Possibility of putting data in both row and column formats. Therefore, no matter what format your data is in, our professional will help you import it in a matter of seconds.
Custom Voucher Type
From the voucher type drop-down menu, you can select the custom voucher you developed and prepared in Tally for forwarding Journal entries.
Cost Centre & Category
Journal Entries with Cost Centers & Categories can be imported. One journal entry may have many cost centers.
Bill Ref & Date
You can import journal entries that include the date and a bill reference (against ref). It is possible to utilize many against refs with various amounts in a single ledger.
For each journal entry, you may import entries with narration.