Permission Required: Users with the Admin Profile, External Accountant and Custom Profile can access this feature
Regional Availability: Australia, India, Indonesia, Singapore, United States
Overview
Tally is an accounting software and small & medium-sized businesses (SMBs) around the world can benefit from TallyPrime Business Software by Tally's technology and innovation, this article will cover how Tally integration can be done, and relevant expenses types that can be synced into Tally from Volopay.
In order to set up Tally few things should be kept in mind:
Both Tally Prime, an offline program, and Tally on Premise, a version of Tally ERP9, can be connected to Volopay.
Only Windows systems can run Tally.
A TCP file will be required, short for Tally Compiled Program File.
To connect your Volopay account with Tally go to the Integrations page on your Volopay account and click on Tally.
You must download the tcp Tally plugin from the Volopay user interface and put it into the Tally root folder, which is C:\Program Files\TallyPrime
Go to Help > Upload TDL to load TDL. choose Volopay TDL, then save.
You will also need to activate volopay plugin and TDS: After uploading TCP plugin to tally> go to> company and enable Tally plugin>Enable TDS>Enable GST.
You need to Login Click "Volopay login" in Tally and input the Volopay username and password.
The identical "Volopay Login" button will appear as "Volopay Logout" after successful login.
Setup your Tally integration with Volopay
After you have set up tally, there are few terms you will need to remember:
Tally Term | Description |
Voucher | Transactions in Tally(creations) ie Purchases(Bills), Payments(Expenses/spend money), Sales(invoice), Journals, Receipts(Receivables) |
Ledger | to create customers/vendors/ bank etc under a COA |
Daybook | List of all Transactions |
Account Masters | Chart of Accounts |
Accounts payable | Sundry Creditors ie Vendors |
Petty Cash | Cash in hand (can be used for manual paid reimbursement) |
TDS Payable | In Tally a separate ledger needs to be created for TDS |
GST | In Tally a separate ledger needs to be created as SGST, CGST and IGST |
How to create a vendor and other CoA (Chart of Accounts) in Tally & sync to Volopay
Vendors also known as suppliers, will be fetched from Tally from following Ledger type
Sundry Creditors
Creating ledgers corresponding to Vendors in Tally
You have to log in to Tally, under Masters you will get the option “Create”.
Click on create, and in the window that appears select ledger under “Accounting Masters”.
Then you can create new vendors from there.
Click on “Sync to Volopay”
You can see the list of categories, vendors and Tax codes in the Integrations page after you have clicked on the “sync to Volopay” CTA.
How to sync Cards expenses to Tally from Volopay
From Volopay, users can Sync Accounting Cards Transactions to Tally as Voucher Payments.
How the Expense Workflow works on Volopay:
Expense Made --> Expense Details completed --> Expense Reviewed --> Expense Verified --> Expense Synced to Accounting Software.
So after the Expense has been Verified by the finance team or admins of your Volopay account, they can be synced/reconciled into your accounting software eg. Tally. For verifying an expense you must select the Chart of accounts/GL code that the expense should be reconciled against.
Open the Accounting tab --> Transactions section, Click on "Pending to Verify" tab.
Click on the expense you want to verify, note that all the fields will be frozen once an expense is verified.
Go to Tally and click on “Sync Cards”. You can provide the from and to date which you want to sync the cards transactions and they will be synced to Tally as Voucher Payments.
How to sync bill payments to Tally from Volopay
From Volopay, users can Sync Bill Payments to Tally as Voucher Journals and Payments.
How the Expense Workflow works on Volopay:
Bill Pay Vendor created --> Bill Payment creation --> Payment Reviewed --> Payment complete --> Payment verified and synced to Accounting Software.
So after the Payment has been Verified by the finance team or admins of your Volopay account, they can be synced into your accounting software.
To Sync Bill Payments, first a Journal will be created as a bill corresponding to the Tally Vendor selected by the users in the Accounting field. After that, a payment voucher will be made corresponding to the Journal crediting the Volobank-INR bank account and debiting the vendor.
Steps involved:
Open the Accounting tab → Bill Payments section, Click on the "Pending to Verify" tab.
Click on the payment you want to verify, note that all the fields will be frozen once a payment is verified.
Go to Tally and click on “Sync Payments”. You can provide the from and to date which you want to sync the bill payments and they will be synced to Tally as paid journals and corresponding voucher payments.
How to sync Reimbursements to Tally from Volopay
The accounting process majorly goes through two different stages (Pending to verify and Pending to sync).
The Pending to verify tab will show all the Approved Claims. When a claim is approved on Volopay and synced, it creates an ‘Unpaid’ Journal in Tally.
You can settle an approved claim using two methods -
Pay via Volopay - Users can settle reimbursement claims through the payments feature of Volopay itself
Pay manually - Users can register payments for reimbursement made manually outside of Volopay
When you sync a settled reimbursement, it creates a ‘Paid’ Journal in Tally and a payment is recorded corresponding to that Journal.
If you settled the claim via Volopay, the Volobank-INR bank account to record the payment.
If the claim was settled manually, the Reimbursement Bank Account selected in the Integrations settings is used to record the payment.
Steps involved:
Open the Accounting tab → Reimbursement section, Click on the "Pending to Verify" tab.
Click on the claims you want to verify, note that all the fields will be frozen once a payment is verified.
Go to Tally and click on “Sync Reimbursements”. You can provide the from and to date which you want to sync the claims and they will be synced to Tally.
How to sync Others transactions to Tally from Volopay
Open the Accounting tab → Others section, Click on the "Pending to Verify" tab.
Click on the claims you want to verify, note that all the fields will be frozen once a payment is verified.
Go to Tally and click on “Sync Others”. You can provide the from and to date which you want to sync the claims and they will be synced to Tally.
Note: Please note that there may be updates from the accounting software that may changes the steps involved. We recommend reaching out to your account manager, or drop us a chat message, to clarify your concerns