What is the meaning of Masters and Vouchers in Tally.ERP 9
As we discussed earlier Accounting Data can be recorded and maintained in Tally.ERP 9 Accounting Software with the help of Masters and Vouchers. We can change data in Tally.ERP 9 whenever, and as many times as we wish.
Accounting Data will be recorded in Tally.ERP 9 using the Vouchers, and this voucher entry should be linked to the Masters which is the standing data in Tally.ERP 9 and it is not expected to change frequently. Masters are just like Ledgers in our common accounting which we discussed about it in How the Business Transactions are recorded in Tally.ERP 9 section.
Masters in Tally.ERP 9
Masters are the containers of the Accounting Data. These are the heads, which will be set once and used in many places such as Accounting Voucher Creation, Reports Generation etc. Data stored in Masters is independent. In Masters we can only create, alter, display or delete the Ledgers, Stock Item and their inter-related elements like Groups, Stock Categories, Unit of Measure, about which we discuss later. And Masters have been classified into
- Accounting Masters
- Inventory Masters
- Payroll Masters and
- Statutory Masters
Vouchers in Tally.ERP 9
Vouchers (similar to Journal) can be changed frequently if there is any mistake found while entering business transaction like wrong figures, selecting wrong Master.Data entered in Accounting Vouchers will be linked to Masters, so the whole transfer process will be done automatically by the software itself. In Tally.ERP 9 there will be pre-defined Vouchers available for every specific kind of transaction like Sales, Purchases, Receipts, Payments, Journal, Credit and Debit Notes. We just have to open the available Voucher type to record the business transaction. And even we can create our own customized Voucher Types as per our requirements. This is the final phase in the process of the recording and maintaining accounts in Tally.ERP 9. As like Masters in Vouchers also we will be having
- Accounting Vouchers,
- Inventory Vouchers and
- Payroll Vouchers
