How to reconcile a bank statement in tally?
For bank reconciliation in Tally Prime, we need both the ledgers. That is bank ledger in company’s book and bank statement from bank. Take a printout or a soft copy in your computer.
Let’s consider the following example
We are reconciling bank on 30-04-2020
BANK STATEMENT IN COMPANIES BOOKS OF ACCOUNT FROM 01-04-2020 TO 30-04-2020
· Step1 : Analyze the bank statement with bank ledger in Tally
ü The first step is to cross check both the ledgers. Ledger with company in Tally and statement of bank.
ü The debit side of bank statement should be checked with the credit side of bank ledger in
company’s book.
ü And credit side of bank statement with the debit side of the bank ledger in company’s books.
· Step2: Enter the Transactions which are in Pass Book but not is Bank ledger of company in Tally.
· Step3: Bank Reconciliation in Tally Prime
Step: GOT > Banking > Bank Reconciliation > Select ‘Bank’ Ledger
Or, GOT > Display More Reports > Account Books > Ledger > Select ‘Bank’ Ledger > Alt+R
Ø
After reaching the Above step Screen will shown like this following screenshot:
Ø In the screen you will find a column ‘Bank date’ in that column enter the date in which the Particular transactions appeared in bank statement as shown Following Screenshot:
Ø Press ‘Enter’ or “Ctrl+A” for Save this Screen
Note1: Balance as Per Company Books (46905.00) And Balance as per Bank (46905.00) must be Same like in Above Screen Shot of Reconciliation
Note2: After Reconciliation screen will show as empty without any Transactions
Bill-wise details in Tally Prime Class-4
Bill-Wise Details: – Bill Wise Details is an Advance Accounting feature of Tally Prime that helps you to track the details of a voucher entry i.e. Credit Sales to customer or Credit Purchases from Supplier so you can know important information about that particular voucher or bill like, Due Date of payment, Bill No, Credit Period etc. This option in Tally Prime is used to maintain outstanding balance & reports of customers and suppliers.
Ex: – You sold a computer to Sohan for ₹50,000 + 12% GST on 1st January, 2021 but you have agreed with Sohan that he will pay you the amount of ₹50,000 + 12% GST within next 25 days.