Bank Reconcilation

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 Bank Reconciliation

When you issue cheque to any party. It is not debited in the Bankers Books (i.e. in your account) on the same date whereas you credit Bank ledger (In your account) it is normally not credited by your Bankers on same date whereas you debit Bank’s books are also reflected in your Bankers books. Reconciliation of your Account with that of Bankers is fundamental Requirement of Accounting.

Tally provides you that facility to enter Bank Date for Vouchers that you have entered in your books. This facility is available for ledger accounts placed under Bank Accounts & Bank OCC Groups.

Reconciling Bank Accounts

The State Bank of India has sent you a Bank Statement from 1/07/2017 to 31/07/2017 the following entries

Bank Statement of SBI Bank

State Bank of India

STATEMENT OF 1-07-2017 TO 31-7-2017

Date

Particulars

Cheque No.

Transaction Date

Deposit

Withdrawal

Balance Amount

1/7/2017

Opening Balance

 

 

2434.00

 

 

1/7/2017

Jain Electronics

111102

1/7/2017

10000.00

 

12434.00

1/7/2017

Cash

Cash

1/7/2017

10000.00

 

22434.00

1/7/2017

Cash

065432

1/7/2017

 

5000.00

17434.00

2/7/2017

Telephone bill Exp.

220110

2/7/2017

 

1200.00

16234.00

2/7/2017

Cash

Cash Deposited

2/7/2017

200000.00

 

216434.00

2/7/2017

LG India Ltd.

221200

1/7/2017

 

125000.00

91234.00

2/7/2017

Legal Charges

221300

2/7/2017

 

1000.00

90234.00

2/7/2017

Tulsi Departmental Stores

111301

2/7/2017

132000.00

 

222234.00

2/7/2017

Cash

111404

2/7/2017

 

50000.00

172234.00

2/7/2017

Electricity Exp.

221410

2/7/2017

 

1756.00

170478.00

 

 

 

 

354434.00

183956.00

 

 

 

 

Closing Balance

 

170478.00

 

 

 

 

 

354434.00

354434.00

 

·         Gateway of tally > display > Account book > ledger > State Bank of India (SBI)

·         The Monthly Summary Screen Appears Press Enter on July which bring all the Voucher of the Month of July

·         Now you want to Reconcile the   Statement for the Period 01/07/2024 to 31/07/2025

·         An Additional button F5: Reconcile Will be activated on the button bar & Press F5: Reconcile Key.

The display now becomes an edit screen in reconciliation mode. The screen displays a new column for the banker’s date & at the bottom of the screen showing

·         Balance as per company books

·         Amounts not reflect in bank.

·         Balance as per bank.

You will find the change at the bottom for each & every Voucher reconciled

Leave the dates for blank for the other Vouchers by pressing enter & accept the screen.

Note that when you come for reconciliation next time you be displayed only those Vouchers which Are Unreconciled.

If want to View all the Reconciled Vouchers or you want to change their Marking. You Can View this by Pressing.

F12: Configure Key & set Following Screen Option to “Yes”

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