how the bank reconciliation should be done in practical
environment , and also using tally 7.2 , please explain it
with exaples if possible
Answer Posted / 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 |
Post New Answer View All Answers
Hello every one i'm going to interview for as an account profile company is construction works so plz guys help me about furthering interview question
which Electrical items is Exciseible
Explain about Fluctuating Capital
An applicant paid excess amount to the Government Office through a demand draft for a particular permission/license instead of actual fees. Later he went to government office and requested to return the previously submitted demand draft. Can he get back the Previously submitted demand draft(which was not adjusted into government account) duly paying he actual fee?
Expand-------NABT
what is the core accounts
Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it
What is Accommodation Bill
What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times
what is article of association? what is memorandum of association?
What are the Types of invoices batching? & what is 3 way batch?
how to prepare the balance sheet of private ltd. company & what roll should be play by Income tax, compnay law & accounting standard in India & world.
what is your achievements?
Straight line method to using Indian company names
For the production of 10,000 units the following are the budgeting expenses: Per Unit Rs. Direct materials 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Selling expenses (10% fixed) 15 Variable expenses (direct) 5 Administrative expenses (Rs.50,000 fixed) 5 Distribution expenses (20% fixed) 5 Total cost of sales per unit 160 Prepare the flexible budget for the production of 6,000 , 7,000 ,and 8,000 units of production