In case you need to change the ‘File Type’, you can press ‘Backspace’ to select the appropriate ‘File Type’ for the bank statement to be imported Specify the ‘Directory’, where you have saved the downloaded bank statement On the ‘Bank Reconciliation’ screen, press ‘B: Bank Statement’ or ‘Alt + B’ Select the required bank which has to be reconciled from the ‘List of Bank’ Go to ‘Gateway of Tally > Banking > Bank Reconciliation’ Using auto bank reconciliation in Tally.ERP 9Īfter enabling the Auto Bank Reconciliation option, now one can go ahead and reconcile the bank statement with the company’s books following these directions : Select the relevant bank from the ‘List of Banks’Īfter selecting the bank from the list of banks, In the next dialogue box, Set ‘ Yes’ to ‘Activate Auto Reconciliation’Īccept the change by selecting “Yes” in the next screen
Under banking configuration, set ‘Yes’ to use this feature of Auto bank reconciliation in Tally. Open the bank ledger (in case the Bank ledger is not opened) by creating a bank ledger or use the option “alter the ledger” (if bank ledger is already created in Tally)
#Bank reconciliation in tally 7.2 how to#
How to activate auto bank reconciliation in Tally.ERP 9? Therefore, both the books remain balanced or reconciled most of the times, but sometimes the these two books shows differences, and the statement which is prepared to match the differences between these books is called Bank Reconciliation Statement. When the merchant deposits money in the bank, then it is entered into the cash book and bank book simultaneously. Nowadays all merchants do all their business transactions through the bank and to keep the details of these transactions, cash book and bank book are maintained. If a trader or business organization uses the bank for the transaction, then we use this option. Why we prepare bank reconciliation statement? The person preparing BRS Statement has to check all the transaction recorded in the cash book with transactions recorded in passbook by the bank. The process of checking the differences between a bank column of the cash book and the bank statement or passbook is called Bank reconciliation process in accounting terms. Sometimes, the bank balance as per cash book and pass book do not tally with each other, then we can know the difference between them by preparing the bank reconciliation statement.
How to undo bank reconciliation in Tally.ERP 9?īank Reconciliation Statement is an explanation of the difference between bank balance as per cash book and bank balance as per Passbook (Bank statement).Shortcut key for bank reconciliation in Tally.ERP 9.Using auto bank reconciliation in Tally.ERP 9.How to activate auto bank reconciliation in Tally.ERP 9?.Why we prepare bank reconciliation statement?.the date when the amount goes out of bank. Select the month which the bank balance you want to reconcile. Select the bank whose balance you want to reconcile. Gateway of Tally -> Display -> Accounts Books -> Cash/Bank Book(s). After creating all bank accounts and passing the necessary transactions with them you need to reconcile the Bank Book with the Bank Statement. After creating all bank accounts and passing the necessary transaction purpose. It may be noted that any transaction prior to the ‘Effective Date for Reconciliation’ will not be considered for reconciliation purpose. You can also specify any other date reconciliation as per your needs. Normally this would be the ‘Book Beginning from’ date itself. You will notice that the moment you select the ‘bank account’ group for a bank ledger, the field- “Effective Date for Reconciliation†appears. The process in Tally is linked to the information that is provided while creating bank ledger. In Tally Reconciliation can be done for any company. Reconciling the companies bank accounts with the banker’s statement is a fundamental and routine task of Accounting.