Most IMP Bank Reconciliation in Tally.Erp9

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Bank Reconciliation in Tally Erp9


Step 1: Gather Documents

Collect the necessary documents, including bank statements, passbook entries, and relevant accounting records such as cash book or bank ledger in Tally ERP 9.

 

Step 2: Open Bank Reconciliation in Tally ERP 9

From the Gateway of Tally screen, navigate to the Banking menu or press "B" on your keyboard, and select "Bank Reconciliation" from the options.

 

Step 3: Select Bank Ledger

Choose the bank ledger for which you want to reconcile transactions. Tally ERP 9 will display a list of bank transactions for the selected ledger.

 

Step 4: Enter Bank Statement Details

Enter the details from the bank statement, including the statement date, opening balance, and closing balance. Ensure that the details match the bank statement accurately.

 

Step 5: Start Reconciliation Process

Tally ERP 9 will display a reconciliation screen with two columns: Bank Book and Bank Statement. Now, you can start the reconciliation process by matching the transactions.

 

Step 6: Match Transactions

Compare the transactions listed in the Bank Book column with the transactions in the Bank Statement column. Select the corresponding entries by marking them with a tick (√) or using the spacebar.

 

Step 7: Reconcile Transactions

Once you have matched the transactions, Tally ERP 9 will automatically reconcile the entries and display the reconciled status. It will update the bank ledger and adjust the balances accordingly.

 

Step 8: Handle Unmatched Transactions

If there are any unmatched transactions or discrepancies between the bank statement and the bank book, you can handle them appropriately. Check for errors, missing entries, or any timing differences that might explain the discrepancies.

 

Step 9: Make Necessary Adjustments

If you identify any errors or missing entries, make the necessary adjustments in Tally ERP 9. This could involve correcting transaction details, adding missing entries, or deleting erroneous entries.

 

Step 10: Finalize Reconciliation

Once all the transactions are matched and any necessary adjustments are made, finalize the reconciliation process in Tally ERP 9. The software will update the bank ledger and reconcile the balances.


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