how the bank reconciliation should be done in practical
environment , and also using tally 7.2 , please explain it
with exaples if possible
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Bank Reconciliation is a statement for showing the
differences between Cash Book and Pass book balance. In
practical environment process begins with obtain Bank
Statement from bank for current account of a particular
business for a particular period. During the period cash
book (i.e. all transactions of Bank) balance gives a
different balance then we have to prepare a statement for
that differences’.
First we have taken cash book balance :
Observe all Debit transactions should come Credit side of
Bank Pass book at the same time all Credit transactions
should effect in Debit side of Pass book. If any
transactions not effected, list of them.
ADD: (+) Transactions not effected of the following
transactions :-
Cash book debited but not credited in pass book, Pass book
credited but not debited in cash book.
LESS: (-) Transactions not effected –
Pass book debited but not credited in Cash book, Cash book
credited but not debited in Pass book.
Nett Balance should tally with Pass book balance.
| Is This Answer Correct ? | 17 Yes | 5 No |
Answer / ram chandra dubey
Answer
# 1
Bank Reconciliation is a statement for showing the
differences between Cash Book and Pass book balance. In
practical environment process begins with obtain Bank
Statement from bank for current account of a particular
business for a particular period. During the period cash
book (i.e. all transactions of Bank) balance gives a
different balance then we have to prepare a statement for
that differences’.
First we have taken cash book balance :
Observe all Debit transactions should come Credit side of
Bank Pass book at the same time all Credit transactions
should effect in Debit side of Pass book. If any
transactions not effected, list of them.
ADD: (+) Transactions not effected of the following
transactions :-
Cash book debited but not credited in pass book, Pass book
credited but not debited in cash book.
LESS: (-) Transactions not effected –
Pass book debited but not credited in Cash book, Cash book
credited but not debited in Pass book.
Nett Balance should tally with Pass book balance.
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / asif
while doing reconciliation of bank statement in tally 7.2,
how to find various cheque nos. by any seach option? I want
to find specific cheque no. from reconiliation window,
which is appeared by pressing F5. Reply may be sent
urgently.
Thanking U
| Is This Answer Correct ? | 6 Yes | 3 No |
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Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.
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