What is Bank Reconciliation? How can it be solve by Tally?

'Bank Balance as per Bank Book' What is the effect of Books of Account? balance as per company Books what is the Advantage Books maintaining.

6 Answers
Top Voted Recent Answer
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6 Answers
Top Voted Recent Answer
  • Reconciliation statement is prepared to clear out the difference between balance as per accounting books and as per bank statement. It shows the accuracy of the books
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  • Bank Reconciliation is a Statement. It used to compare between both Bank Book (Passbook) and Cash Book balances at the end of the month or in the periodical manner
    The advantage books maintaining are
    1.       Avoid the timing difference on recording of the transactions
    2.       Avoid the errors made by the business or by the bank
    How can it be solve by Tally?
    Enter the Particular Bank ledger at tally
    Use Alt-F5 key
    Enter the Bank Date as per transaction wise
    Save it
     
    Recap the above unreconcile transaction will be showing then you can compare those transaction between Bank Book (Passbook) and Cash Book balances
     
    If any difference in the cash book statement pass the respective entries occordingly
     
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  • BANK BALANCE IS A ASSET. PRIMARY ADVANTAGE OF BOOKS OF ACCOUNTS IS WE CAN CONTROL ALL THE FRAUDS OR UNNECESSARY EXPENSES.
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  • In Tally very easy go to display , accounts books, cash\bank, bank, enter press F5
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