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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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.
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