Single Entry Mode in TallyPrime: 2 Easy Steps + Example

Single Entry Mode in TallyPrime is a simplified way to record accounting transactions, particularly useful for beginners or those who prefer a straightforward approach.

Instead of using traditional double-entry accounting, you can enter transactions in a single step.

1. How to Enable Single Entry Mode in TallyPrime:

1. Enable Single Entry Mode:

• Go to Gateway of Tally > F12: Configure > Voucher Entry.
• Enable the option for Use Single Entry Mode for Payment/Receipt/Contra.

2. Record Transactions:

• When you select Payment, Receipt, or Contra Vouchers, TallyPrime will display a single-entry screen where you can directly enter the details without needing to input both debit and credit separately.
• For example, if you’re making a payment, you’ll just select the bank or cash account and enter the details of the amount paid to a party.

2. Example: Single Entry Mode in TallyPrime

ABC Traders needs to pay ₹5,000 to their supplier, XYZ Supplies. Here’s how they would record this transaction using Single Entry Mode in TallyPrime:

1. Go to Payment Voucher:

ABC Traders selects F5: Payment from the voucher entry screen.

2. Select the Bank/Cash Account:

Choose the bank account from which the payment is made.

3. Enter Details:

• In the Single Entry Mode screen, ABC Traders enters the amount ₹5,000 and selects XYZ Supplies as the party.
• They also enter a brief description (e.g., “Payment for Raw Materials”).

4. Save the Entry:

TallyPrime automatically handles the debit (bank/cash account) and credit (supplier) entries behind the scenes.

5. Outcome:

ABC Traders has efficiently recorded the payment without manually managing the double-entry bookkeeping, saving time and reducing the chances of errors.

This process is particularly beneficial for businesses looking for a simplified way to handle routine transactions.

3. Benefits of Single Entry Mode in TallyPrime:

• Ease of Use: Simplifies the process for those unfamiliar with double-entry accounting.
• Faster Data Entry: Reduces the time spent on recording transactions.
• Reduced Errors: Minimizes the chances of making mistakes by handling the debit and credit entries automatically.

4. Conclusion:

Single Entry Mode in TallyPrime is an efficient and user-friendly option for businesses that want to streamline their accounting processes.

It allows users to focus on entering essential transaction details without worrying about the technicalities of double-entry bookkeeping, making it an excellent choice for small businesses and those new to accounting.