Tally Solutions & DBS have partnered to provide you a seamless e-Payments solution.

To enable this service, you need to have the following:

Tally ERP 9 Release 5.4.5 or above with an active TSS subscription

Subscription to Integrated Banking Services with Tally as part of our Electronic Banking Services via DBS IDEAL (at no additional charges).

Do not have a DBS Current Account yet? Click here to open a bank account with the World’s Best Digital Bank, DBS.

On Tally website for more details on e-Payments feature under Tally ERP 9 Release 5.4.5 Please note that the ‘Connected Bank’ Services are currently supported for DBS Bank only..

Refer this link

Tally has introduced a new e-Payments report, where the payment vouchers that can be sent to Bank will appear. All you need to do is select the voucher and click ‘Send to Bank’ within Tally. The transaction will automatically appear on our Internet Banking Platform.

Within the e-Payments feature, you can initiate NEFT, RTGS, Intra-bank Account Transfers, Future dated payments (up to 90 days). You can also initiate Payroll payments through NEFT.

e-Payments report is a single dashboard on Tally which gives a complete view of transactions initiated within Tally. It compiles vouchers that have been posted in four different queues:

Transactions with incomplete information : e-Payments transactions that have some mandatory information missing such as account number, IFSC details reflect in this queue. These vouchers can be corrected inside e-Payments report.

Transactions with information mismatch (with master) : e-Payments transactions which have information that do not match the details in the master appear in this queue. The mismatch in vouchers and master can be corrected by copying information from master or you can accept the details as is. Ready for sending to bank. All e-Payments transactions that have complete and correct details and are ready for sending to bank appear in this queue.

Transactions sent to bank (unreconciled) : All e-Payments transactions that have been submitted to bank successfully reflect in this queue.

e-Payments transaction status can be tracked against a particular transaction within Tally’s e-Payments report. The description of each status that appears against a transaction is as mentioned below:

Submitted - When the transaction has been pushed successfully from Tally’s platform

Verifying - When the transaction is being verified by the bank

Authorization pending - When the transaction has not been authorized by the authorizer

Authorized - When the authorizer has approved the transaction but payment processing is pending.

Processed - When the transaction has been processed and the payer’s account has been debited.

Failed - When the transaction could not be processed. Failed transactions can be reset in the e-Payments report itself.

Once the payment is processed, the transaction reference number is automatically updated under instrument number in e-Payments report as well as the respective on email with transaction reference number and break up of invoices for easy tracking and reconciliation.

e-Payments feature incorporates highest levels of encrypted security for host-to-host data transfer which ensures complete information security.

Only designated person with maker access on IDEAL can initiate payments from Tally using the TSS User ID registered with the Bank. Further transaction authorization on IDEAL can be done only by approvers as designated to operate as such by your organization.

Connected bank service is free of charge . All you need is a licensed version of Tally (Tally ERP 9 Release 5.4.5 and above), , active TSS subscription and a DBS Bank Account.