Let's get your bank statement tallied in Tally.ERP 9! Are you ready to dive into the world of accurate financial records? This comprehensive guide will walk you through every single step to flawlessly reconcile your bank statement within Tally.ERP 9.
How to Tally Bank Statement in Tally.ERP 9: A Comprehensive Guide
Reconciling your bank statement is a critical step in maintaining accurate financial records for any business. It ensures that the cash balance in your books matches the balance in your bank account, helping you identify discrepancies, prevent fraud, and gain a clear picture of your financial health. Tally.ERP 9, a popular accounting software, provides robust features to streamline this process.
Step 1: Gather Your Essentials & Set the Stage (Let's Get Started!)
Before we even touch Tally.ERP 9, let's make sure you have everything you need. Think of it as preparing your workspace for a crucial task.
Your Bank Statement: This is your primary source of truth. Have it handy, either a physical copy or a digital PDF. Ensure it's for the exact period you intend to reconcile.
Tally.ERP 9 Open and Ready: Make sure you've launched Tally.ERP 9 and have the correct company selected.
A Quiet Space: Minimize distractions. This process requires focus!
Why is this important? Having all your information readily available will prevent interruptions and make the reconciliation process much smoother and faster.
Step 2: Navigate to the Bank Reconciliation Module
Now, let's open Tally.ERP 9 and find our way to the bank reconciliation area.
Navigating from the Gateway of Tally:
From the Gateway of Tally, press
DforDisplay.Then press
AforAccounts Books.Next, press
BforBank Book.Select the specific Bank Ledger you want to reconcile. For instance, if you have a "State Bank of India" ledger, select that.
Now, you'll see a list of transactions for that bank. To enter the reconciliation screen, press
Alt + Ror click on the 'Reconcile' button (usually located on the right-hand button bar).
Understanding the Bank Reconciliation Screen:
Once you're in the reconciliation screen, you'll notice two distinct sections:
Left Side (Books Date): This displays all the bank-related transactions recorded in your Tally books.
Right Side (Bank Date): This is where you'll input the dates of the transactions as they appear on your bank statement.
Step 3: Enter the Bank Statement Date for Each Transaction
This is the core of the reconciliation process. You'll be comparing your Tally entries with your bank statement entries and updating the "Bank Date" field.
The Matching Process:
Start with your Bank Statement: Go through your bank statement transaction by transaction.
Locate the Corresponding Entry in Tally: For each transaction on your bank statement (e.g., a deposit, a withdrawal, a bank charge), find its exact match in the left-hand section of the Tally reconciliation screen.
Enter the Bank Date: Once you've found the matching transaction in Tally, navigate to the 'Bank Date' column for that entry and enter the date on which the transaction cleared your bank account (as per your bank statement).
Example: If your Tally entry shows a cheque issued on June 1st, 2025, for Rs. 5,000, but your bank statement shows it cleared on June 5th, 2025, you would enter
05-Jun-2025in the 'Bank Date' column for that transaction in Tally.
Handling Unmatched Transactions:
Transactions in Tally, Not in Bank Statement: If you find transactions in Tally that don't appear on your bank statement (e.g., cheques issued but not yet presented for payment, deposits made but not yet credited), leave the 'Bank Date' column blank. These are your outstanding transactions.
Transactions in Bank Statement, Not in Tally: If you find transactions on your bank statement that are not recorded in Tally (e.g., bank charges, interest credited, direct debits), you'll need to create those entries in Tally.
How to create missing entries:
Press
Alt + J(or click onAuto Reconcileif available in your version) to jump to the 'Bank Reconciliation' screen with an option to create new entries.Alternatively, you might need to exit the reconciliation screen temporarily, go to the respective voucher entry screen (e.g., Payment for bank charges, Receipt for interest), record the transaction, and then return to the reconciliation screen. This is crucial for accuracy!
Step 4: Utilize Auto Reconciliation (If Applicable)
Tally.ERP 9 offers an auto-reconciliation feature that can significantly speed up the process, especially for a large number of transactions.
How to use Auto Reconciliation:
While in the Bank Reconciliation screen, press
Alt + Bor click on theBank Statementbutton.Tally will prompt you to import the bank statement. You'll typically need to select the file path where your bank statement (usually in
.csvor.xmlformat, depending on your bank's export options) is saved.Once imported, Tally will attempt to automatically match transactions based on transaction dates, amounts, and sometimes even narration.
Review Carefully: Do not blindly trust auto-reconciliation. Always review the automatically matched entries to ensure they are correct. Any mismatches will be highlighted, and you'll need to manually address them.
Important Note: The effectiveness of auto-reconciliation heavily depends on the format of your bank statement and the consistency of your Tally entries. Sometimes, manual reconciliation is still necessary for complex scenarios.
Step 5: Verify the Reconciled Balance
As you enter the bank dates, Tally.ERP 9 dynamically updates the reconciliation status.
Understanding the Summary at the Bottom:
At the bottom of your reconciliation screen, you'll see key figures:
Balance as per Company Books: This is the cash balance in your Tally ledger before reconciliation.
Amount Not Reflected in Bank: This represents the sum of transactions recorded in Tally but not yet cleared by the bank (e.g., unpresented cheques).
Amount Not Reflected in Company Books: This represents transactions on your bank statement not yet recorded in Tally (e.g., bank charges, direct debits).
Balance as per Bank: This is the target balance you want to match. This should ideally be the closing balance of your bank statement.
Achieving Reconciliation:
Your goal is to have the "Difference" or "Unreconciled" amount become zero. When the "Balance as per Company Books" after considering the amounts not reflected matches the "Balance as per Bank," you've successfully reconciled!
Step 6: Save and Print Your Reconciliation
Once your balances match and you're confident in your reconciliation, save your work.
Finalizing the Reconciliation:
Press
Ctrl + AorCtrl + Sto accept and save the reconciliation.Tally will usually ask you to confirm the reconciliation.
Print (Optional but Recommended): You can also print the reconciliation statement by pressing
Alt + Por clicking on thePrintbutton. This provides a physical record of your reconciliation for future reference and auditing purposes.
Congratulations! You've successfully tallied your bank statement in Tally.ERP 9. Regular reconciliation is a cornerstone of sound financial management.
10 Related FAQ Questions:
How to start bank reconciliation in Tally.ERP 9?
You can start by going to Gateway of Tally > Display > Accounts Books > Bank Book, select your bank ledger, and then press Alt + R (Reconcile).
How to enter bank dates for transactions in Tally.ERP 9 bank reconciliation?
In the bank reconciliation screen, for each transaction listed on the left (Tally entries), navigate to the 'Bank Date' column and manually enter the date on which the transaction cleared your bank account as per your bank statement.
How to deal with transactions on the bank statement that are not in Tally.ERP 9?
You need to record these missing transactions in Tally.ERP 9. Exit the reconciliation screen temporarily, go to the relevant voucher entry (e.g., Payment for bank charges, Receipt for interest received), record the transaction, and then return to the reconciliation screen to reconcile it.
How to handle outstanding cheques in Tally.ERP 9 bank reconciliation?
Outstanding cheques (cheques issued by you but not yet presented to the bank) will appear in your Tally books but will not have a bank date in the reconciliation screen. Leave their 'Bank Date' field blank; they will automatically be shown as "Amount Not Reflected in Bank" until they clear.
How to use the auto-reconciliation feature in Tally.ERP 9?
From the bank reconciliation screen, press Alt + B (Bank Statement) and then import your bank statement file (usually CSV or XML). Tally will attempt to automatically match transactions. Remember to review the auto-matched entries carefully.
How to correct a mistake made during bank reconciliation in Tally.ERP 9?
If you've made a mistake, you can re-enter the bank reconciliation screen for the same period. Any previously entered bank dates can be modified or cleared. If you've already saved, you might need to reverse the reconciliation and re-do it, or simply make a correction and save again.
How to view previous bank reconciliation statements in Tally.ERP 9?
You can typically view past reconciliation statements by navigating to the Bank Ledger (Gateway of Tally > Display > Accounts Books > Bank Book > Select Bank Ledger) and then adjusting the period (Alt + F2) to include the reconciliation date.
How to know if my bank reconciliation is complete in Tally.ERP 9?
Your bank reconciliation is complete when the "Difference" or "Unreconciled" amount at the bottom of the reconciliation screen is zero, indicating that your Tally balance, after accounting for outstanding items, matches your bank statement's closing balance.
How to print the bank reconciliation statement in Tally.ERP 9?
After completing and accepting your reconciliation, you can print the statement by pressing Alt + P or clicking the 'Print' button while you are in or have just exited the reconciliation screen.
How to reconcile multiple bank accounts in Tally.ERP 9?
You need to reconcile each bank account individually. Follow the same steps as outlined in this guide, but select the specific bank ledger you wish to reconcile from the "Bank Book" screen.