~ Tally. ERP 9 Pk. Now, Automate the Process of Reconciling Bank Transactions Did you know that you can now reconcile the banking transactions of your company for each cheque issued, and even print the payment advice and deposit slips, using Tally.ERP 9? Most businesses these days prefer to receive and make payments via their bank accounts. Typically, while transacting via the bank, an organization prepares a deposit slip to credit the payments received into the firm's account, generates payment advice and tracks funds in order to always ensure that the bank account has the minimum funds required at all times. But as the number of transactions increase, it becomes a challenging task for organizations to prepare a large number of deposit slips, covering letters, and reconcile the bank ledger balance and the bank statements. Tally.ERP 9 Release 3.0 has made life simple, it allows you to effortlessly print cheques, reconcile the entries in books of accounts, generate deposit slips and payment advice, whenever required. Bank reconi Bank reconciliation explains the difference between the bank balance shown in an organization's bank statement and the corresponding amount shown in the organization's accounting records, on a particular date. To reconcile the bank statement * Goto ‘Gateway of Tally > Banking > Bank Reconciliation’ © Select the name of the required bank The ‘Bank Reconciliation’ screen appears: * Match every transaction with the bank statement and record the transaction date in the “Bank Date' field, nea Bk ‘vapra0tt wo seatpr aot peconenaten, 200 ap accu acne Guede Heyy 24201 snmome Sanlenterenmn teenies owt caege eas Stam Si 3400020 Wie Ones Campar Comeseron Papen — Ges tam sian 2S.oma0 (Lat Reneaavance, is Pomme Gas S88 ‘ietant stan Soom hum memagvanes or Poet ia tian tesa ‘Sono 22a Gta hme ite Sec SousPynt ion Bian dow Seo oe 312 pence oso Payment Pet Bion Sese.e Sc Samson foie nawies Rr Chepico BS Sat ‘e020~ Tally. ERP 9 Pk. ‘Accept the screen to reconcile the bank ledgers as per the corresponding banking statement. (On successtully reconciling, the "Bank Reconciliation’ screen appears as shown: Lye Nateat ink “eApr-2011 te 20-Apr-2011 (Reconctuation) Date Poricaiare —Faiig ane? VenType ——Tinsacan Tye atu Fane Dae Bank Dale Dab Cait Recasad For ‘Bam Yaepnene cares ost ‘Payment Cheaun at _— 521 Cormtig Reverse Reha ndvoies Receipt Chew sBENE oazett "100,000.00 Tally.ERP 9 also allows you to record the un-recontiled transactions based on the nature of transactions. Recording un-reconciled transactions Un-reconciled transactions can be entered by clicking ‘U: Opening BRS’ or pressing ‘Alt+U" in the ‘Bank Reconciliation’ screen. In this screen, the user can enter all transactions in which the cheques were issued but not presented, or when cheques were received but not presented. This will be useful under the following circumstances: © When a company starts bank reconciliation in the middle of the financial year by setting an effective date in the bank ledger. * Or when the opening balance of the bank account having unreconeiled transactions is brought forward to the bank's ledger of the company. Unreconciled tal or: National Bank (Ctecve Ore of Racor -Ap 214) Tas Peete Tatars of TanascionTanescn Type Romar Dat Crea att Unue Tades spose Cheawe00 Ors Prseastr Caney 5.00000 Irwurmer 5236 mono Datee 1 Ba ae ‘Hoa Bcticey Be vichtwa ‘Cheaie cnet Bi Paid 0.6) Ineomur. 205887 ‘mire One: 8.20 Ba Oe ccapt?Be Tally.ERP 9 rower oF sucieiry Recording transactions During reconciliation, some transactions like the bank's charges, the interest paid by the bank, etc., need to be recorded. These transactions can be recorded at the ‘Banking’ screen by simply clicking °C: Create Vouchers’ or pressing ‘Alt+G’ in the ‘Bank Reconciliation’ screen and choosing the required voucher Generating deposit slips You can generate deposit slips for the payments received through cheques or demand drafts, which can be deposited to the bank later. To generate the deposit slip * Goto ‘Gateway of Tally > Banking > Deposit Slip’ * Select the appropriate bank. + The ‘Deposit Slip’ screen appears: edge National Bank “vApr201% 9 30-45r2011 (cheque Printing - Pending Cheques) Date Panic Fang ane Batumert ie. aren Oats — Pred EIT EOD ws 504-2011 Ofiee Furniture Rekate Ferre HSE srez0r Ne '6,000.0 * Click ‘P: Print or press ‘Alt+P” In the ‘Print Report’ screen © Set ‘Print Deposit Slip’ to ‘Yes’. * Click ‘Accept to print the deposit slips. The printed deposit slip appears as shown below: Account No 100001234 Date 10May 2014 ‘Account Holder tame | ABC Company Bank tame National Bank Branch Name Vidya Nogar [ie] Received From —] Cheque] ‘Bank Fame Branch ‘amount ‘0 No, Tie Kamae 123486 | Ap 201 | Sale Bank Ino Rad ea 2 [Refatieindatian — [058505 [30-t 201inion Gane [OTE Rae 00,00 Tota] — 25,000 “Amour fn ora): WHR Two Crore Fity One Lakh Only epost by Received by Signawe SepatreTally.ERP 9 1 &., Payment advice Using your Tally.ERP 9 system, you can also generate the payment advice, which the company needs to send to its suppliers or other parties, along with the respective cheque/demand draft. To generate the payment advice: * Goto ‘Gateway of Tally > Banking > Deposit Slip’. * Select the required ledger from the ‘List of Ledgers’, The ‘Payment Advice’ screen appears © Click ‘P: Print’ or press ‘Alt+P” ‘The ‘Payment Advice’ screen for the selected ledger appears, as shown below: ‘ABC Company tis offce Furniture Date stays No 12, Cenual Street Centra Business Arco Bangalore Dea Sttasam Please ind below the payment deta Bil REE BiilDaiw “amount araor Dap JOT 456 00.0) Tiett Amount! 750,000.09 nant Daal) Hoda of Payment Tank Name | insuumentWe,_| TasitumentOate [Amount heave Tena Bank eeesra] «SOAR DONT $6 00005) \Gheaue Navona Bark 568673] ___s0ap-20t 5500.00 “otall —7,5,00.00 Kindly schnowiedge the receipt ‘Tanking You Authorised Signatory Recehers Signature