Bank reconciliation explains the difference between the bank balance shown in an organization’s bank statement and the corresponding amount shown in
the organization’s accounting records, on a particular date.
To reconcile the bank statement
Go to ‘Gateway of Tally > Banking > Bank Reconciliation’ Select the name of the required bank
The ‘Bank Reconciliation’ screen appears:
Match every transaction with the bank statement and record the transaction date in the
‘Bank Date’ field.
Accept the screen to reconcile the bank ledgers as per the corresponding banking statement. On successfully reconciling, the 'Bank Reconciliation' screen appears as shown:
Tally.ERP 9 also allows you to record the un-reconciled transactions based on the nature of transactions.
Recording un-reconciled transactions
Un-reconciled transactions can be entered by clicking ‘U: Opening BRS’ or pressing
‘Alt+U’ in the ‘Bank Reconciliation’ screen. In this screen, the user can enter all transactions in which the cheques were issued but not presented, or when cheques were received but not presented. This will be useful under the following circumstances:
When a company starts bank reconciliation in the middle of the financial year by setting an effective date in the bank ledger.
Or when the opening balance of the bank account having unreconciled transactions is brought forward to the bank’s ledger of the company.
During reconciliation, some transactions like the bank’s charges, the interest paid by the bank, etc., need to be recorded. These transactions can be recorded at the ‘Banking’ screen by simply clicking ‘C: Create Vouchers’ or pressing ‘Alt+C’ in the ‘Bank Reconciliation’ screen and choosing the required voucher.
Generating deposit slips
You can generate deposit slips for
the payments received through cheques or demand drafts, which can be deposited to the bank later.
To generate the deposit slip
Go to ‘Gateway of Tally > Banking > Deposit Slip’ Select the appropriate bank.
The ‘Deposit Slip’ screen appears:
Click ‘P: Print’ or press ‘Alt+P’ In the ‘Print Report’ screen
Set ‘Print Deposit Slip’ to ‘Yes’.
Click ‘Accept’ to print the deposit slips.
The printed deposit slip appears as shown below:
Using your Tally.ERP 9 system, you can also generate the payment advice, which the company needs to send to its suppliers or other parties, along with the respective cheque/demand draft.
To generate the payment advice:
Go to ‘Gateway of Tally > Banking > Deposit Slip’. Select the required ledger from the ‘List of Ledgers’.
The ‘Payment Advice’ screen appears
Click ‘P: Print’ or press ‘Alt+P’
The ‘Payment Advice’ screen for the selected ledger appears, as shown below: