For non-technical teams, ready-made converters (like or Excel2Tally ) do the job. For developers, building a custom script gives full control over voucher splitting, party mapping, and rules for complex transactions.
Example Python script logic (pseudo):
body = ET.SubElement(root, "BODY") import_data = ET.SubElement(body, "IMPORTDATA") req_desc = ET.SubElement(import_data, "REQUESTDESC") ET.SubElement(req_desc, "REPORTNAME").text = "Vouchers" bank statement to tally xml