Integrate RazorpayX Advances with Tally

Tally may require more information than originally provided while making a payout. With this integration and the initial configuration, the process of filling up the required details is automated. You can make configurations with

Rules & Configurations

under General and Account Mapping to start.

Payouts

made via your RazorpayX account are recorded as Expenses under Accounting.

You can filter and view the Expenses by:

Debit Account
Payment Method
Payout Purpose
Tally Account

Life Cycle

Each payout appears under Accounting Expenses after it is processed.

It is first visible under the Categorise tab.
Once you enter the required information, it moves to the Review tab.
After you review the payout, it moves to the Sync tab, which means that the particular payout has been synced with your Tally account.

Categorise

Certain payouts are not synced with Tally due to information unavailability. These payouts show up in the Categorise tab. To provide complete information:

Click on the entry you want to categoise.
In the right-hand side pane, click CATEGORISE.
Select your Tally Expense Account and Ledger from the drop-down menu.
Select the Tax Slab.

The payout moves to the Review tab.

You can automate this process to an extent by setting

Purpose Rules

. This means that you can select a corresponding Tax Slab and the Tally Expense Account to which you want the payouts, with that particular purpose, to sync.

Example:

Payouts Purpose: Payslip
Tax Slab selected under Purpose Rules: 12%
Tally Expenses Account selected under Purpose Rules: Employee Costs

This means, everytime a payout's purpose is recorded a Payslip while making the payout, we automatically sync it to the Employee Costs Expenses Account on Zoho with a 12% Tax Slab. Hence, the payout directly appears on the Review tab instead of the Categorise tab and reduces the manual effort of categorising each time.

Handy Tips

You can also choose to EXCLUDE the entry. With this, the payout will not be categorised in RazorpayX. It will remain in an intermediatory state and you can categorise it later directly on Tally.
It is also automatically excluded when the categorisation fails to sync. You can see the Exclude tab to check on any missed expenses on Tally.

Review

If all the information is present, the payout is showed in the review tab. Select the payout you want to review and click SYNC NOW to sync the payout with Tally. You can also select multiple or all payouts in the Review tab and sync them.

Sync

The Sync tab has all the payouts that were synced to your Tally account. Select the particular payout to view more details, including the timelines and find them in the right pane. You can also find the sync status of an entry under the Payouts tab.

In case the sync fails, you can either FIX & RETRY SYNC or EXCLUDE the entry. If you choose to exclude, the payout will not be categorised. It will remain in an intermediatory state and you can categorise it later directly on Tally.