www.TallyERP9Help.Com
Select Your Language :

3.     Bank Reconciliation in Tally.ERP 9

Did you know that you can now reconcile the banking transactions of your company for each cheque issued, and even print the payment advice and deposit slips, using Tally.ERP 9?

 

Most  businesses  these  days  prefer  to  receive  and  make  payments  via  their  bank accounts. Typically, while transacting via the bank, an organization prepares a deposit slip to credit  the payments  received  into the firm’s  account,  generates  payment  advice  and tracks funds in order to always ensure that the bank account has the minimum funds required at all times.  But  as  the  number  of  transactions  increase,  it  becomes  a  challenging  task  for organizations  to prepare a large number of deposit slips, covering letters, and reconcile the bank ledger balance and the bank statements. Tally.ERP 9 Release 3.0 has made life simple, it allows you to effortlessly print cheques, reconcile the entries in books of accounts, generate deposit slips and payment advice, whenever required.

 

Bank reconciliation

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 ReconciliationSelect 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.

 

Bank Reconciliation in Tally.ERP 9
[17]


 

 

 

 

 

Accept the screen to reconcile the bank ledgers as per the corresponding banking statement. On successfully reconciling, the 'Bank Reconciliation' screen appears as shown:

   

 

  Bank Reconciliation in Tally.ERP 9

 

   

 

[18]

 

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.

 

Bank Reconciliation in Tally.ERP 9
[19]


 

 

   

 

 

Recording transactions

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 SlipSelect the appropriate bank.

The Deposit Slip screen appears:

 

Bank Reconciliation in Tally.ERP 9
[20]

Click P: Print or press Alt+PIn the Print Report’ screen

SetPrint Deposit Slip to Yes.

Click Accept to print the deposit slips.

 

The printed deposit slip appears as shown below:

 

Bank Reconciliation in Tally.ERP 9
[21]


 

 

 

 

 

 

Payment advice

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:

 

Bank Reconciliation in Tally.ERP 9
[22]

 
Add
 
 
 

Tally.ERP 9 Reference Manual
www.tallyerp9help.com
Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
Tally.ERP 9 Help LIBRARY
Short Cut Keys Command in Tally.ERP9
Reorder Levels & Reorder Quantity
Price Lists in Tally.ERP 9
Point of Sale (POS) in Tally.ERP 9
Job Costing in Tally.ERP 9
Interest Calculations in Tally.ERP 9
Features (F11) of Tally.ERP 9
Configuratioin (F12) of Tally.ERP 9
Data Migration in Tally.ERP 9
Cost Categories and Cost Centers
Budgets in Tally.ERP 9
Advanced Inventory Features
Advanced Accounting Features
Self-Running Tutorial with Audio
F.A.Q. Knowledgebase in Tally.ERP 9
Sample Reports @ Tally.ERP 9
Tips on Tally.ERP 9
 
Our Portal : www.TallyERP9Book.Com www.IncomeTaxManagement.Com www.Tally9Book.com www.TallyERP9Help.Com
Disclaimer. :
Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP 9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners.
The visitors may click here to visit the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications