Question

How to pass entry in tally for payment done from one bank account another bank account

Answer 1

This entry needs to be passed through contra voucher as it is a contra entry. This voucher is used for when cash is transferred from one account to other. Both accounts must be in the name of the firm. It is also used when cash is with drawled from the bank or deposited in to the bank. For rest of the entries, related to cash and bank, payment and receipt voucher is used.