Bank Reconciliation in Tally
Bank Reconciliation concept in Tally is easy and lot of persons are using this facility who are using Tally Software for their accounts. Bank Reconciliation facility reconcile the Company's Bank Account with the Bank Statement maintained by Bank. In tally there is Button of F5 for bank reconciliation while viewing any bank ledger under grouped Bank etc. I think there is no need to explain regarding reconciliation in tally. It is generally used by all.
Special regarding Bank Reconciliation in Tally.
In case Company has their Branches and there is only one Bank Account for Head Office and Branch. Both (Branch and Head Office) are using a single Bank Account. In such position it is difficult to reconcile the Bank Statement. Some transactions are lying in Head office and another are relates to Branch. Tally has also provided the solution for the same. A group company can be created in this case and then Bank Reconciliation is quite easy.
How to Create a Group Company
Through Gate way of Tally, Open all companies or Branches for which you want to create a group company. Then, press Alt+F3, there is option of Create Group Company. Enter name of Group Company for future use and select companies as member you want to Grouped and save. I think now you can easily create Group Company. Data of Bank in Group Company in a single ledger will be displayed subject to Same Bank Ledger Name in companies. In case different Bank Ledger Names in different Companies , you will have to change Bank Ledger Name so that Bank Data in Group Company can be displayed in a single screen. Finally open Bank account in Group company and press F5 for Bank Reconciliation.
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