how the bank reconciliation should be done in practical
environment , and also using tally 7.2 , please explain it
with exaples if possible
Answers were Sorted based on User's Feedback
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 |
what are the Bank Vouchers?how it is entered in books of accounts?
why is TDS treated as an asset while preparing Balance sheet.
WHAT IS MEANT BY FACTORING, TRESURY BILLS,BULLS, BEARS
What is life ?
In OD Account How Many Interest Paid or Not? and second CC Account How Many Interest Paid or Not?
payroll calculation procedure explain completely?
what is diff between p&l & trading a/c
What is the difference between Finance and Accouts?
all BESCOM exam papers
Stale Cheque entry in the books & when it reissued again then Entry in the books.
Why it is necessary to use SAP in an industry? & What is the difference from other advance accounts software like Tally ERP 9? What is the importance of using GAAP for best management decission or why GAAP using by Top Management?
What is diff. between mutual fund and security?