BANK RECONCILIATION STATEMENT

(In Tally)

Recording the company’s Bank Account with the Banker’s statement is a regular task of

accounting. In Tally, Reconciliation of Bank Accounts facilitates the following:

Ability to Check Back the Correctness of Reconciliation:

Tally uses date, to mark against the voucher. For instance, if we issue a cheque on 3rd April

and our Bank clears it on 12th April, we would set the Bank Date for voucher as 12th April.

This means that when we need to Check Back later, whether the entry made by us is

correct, we will only need to verify the Bank Statement of the 12th April.

Recovering the Reconciliation of any date:

The Bank Reconciliation play important role in auditing and verification of the correctness of

accounts at the year end. However it is not a ‘Real-time’ task, means auditors do not on the

first day of the next year.

A quick experiment with reconciliation will show what it all means here, it is how we go

about it. Take the monthly summary of any Bank Book.

To see the Bank Reconciliation Statement we have to follow any the following step:

Report:

Gateway of Tally

Display

Account Books

Bank Account

F5

OR

Gateway of Tally

BaNking

Bank Reconciliation

Bank Account

Display goes to the “Reconciliation mode”, which can be edited. The cursor automatically

blinks at Bank Date. The screen shows at the bottom:

1. Balance as per Company Books.

2. Amounts not reflected in Bank.

3. Balance as per Bank.

The balance as per company books reflects the balance as on the last date.

The amounts not reflected in Bank are the debit and credit sums up all those vouchers,

whose Bank Date is either BLANK, or LATER than 30th April (i.e. these vouchers have not yet

been reflected in the Bank Statement.)

The balance as per Bank is the net effect of the Book Balance and the amounts not reflected

in the bank, which must be equal to the balance bank statement.

As we mark the individual vouchers by setting the Bank Date, we will notice that the

Reconciliation at the bottom of the screen keeps updating the changes. Once this process is

complete, press Ctrl + A (or) enter as many times as necessary to skip over the unmarked

vouchers and accept the screen.

The next when we opt for reconciliation, the screen displays only those vouchers that

remain unreconciled.

We can also display vouchers that are already marked as reconciled, in case we need to edit

the marking, by using F12(Configure).

NOTE:

Set Show Reconciled Vouchers also to Yes to see the reconciled voucher.

It is not possible to reconcile balance and can be done only with available physical

transactions.

Set Allow back dated Reconciliation to Yes to enter bank dated which is earlier than

the voucher date.

We can also display vouchers that are already marked as reconciled, in case we need to edit

the marking, by using F12 (Configure).

Press Alt + P or click on the Print button to print your reconciliation report.