First of all I would like to recommend Bank Reconciliation in Tally – Part 1, if you have not read it yet!
If you are a frequent visitor of TallySchool you must have noticed that every post on this blog contains a video tutorial.
I like to explain by demonstrating along with writing because people tend to understand more by listening or seeing along with reading for people who are avid readers.
That is the reason, when I created an ebook of Unknown Tally Shortcuts, together with it I made a special video showing how fast the shortcuts work.
Today I am talking about Automatic Bank Reconciliation in Tally.ERP 9.
Tally will automatically reconcile the bank statement once you enter the path to the excel file of your bank statement.
It will show you all the entries in your bank statement and will ask you whether you want to import it or not.
After you press Yes for importing the statement, you will have all the entries in Tally with every detail you need for bank reconciliation.
Confirm the dates and the transactions and press Yes to reconcile it.
Tally will reconcile the transactions and will show you the remaining transactions that need to be reconciled.
This was the process of automatic bank reconciliation in Tally.
You will agree with me that BRS is a very tedious yet important part of accounting and if there are a bulk of bank statements for the whole year, just looking at it will make you feel asleep. 😯
Why I am not producing a video tutorial on Automatic Bank Reconciliation in Tally.ERP 9?
Because I cannot.
I know how to do automatic bank reconciliation in Tally.ERP 9 but I cannot make a video showing it because I am using the educational version of Tally.ERP 9 which does not permit me to do so.
Let me explain you in a simple manner.
For enabling Automatic Bank Reconciliation in Tally.ERP 9 you have to add your specific bank for which you want to reconcile.
And here comes the crux.
You can add bank only if you have a licensed version of Tally.ERP 9 which costs Rs.18,000 for a single user and 3 times of that for multiple user.
I am an articled assistant and you can imagine if you too are an articled assistant or a Chartered Accountant that how much months stipend would go in if I want to purchase even a single user Tally. 🙂
So I have written the article!
Eventually, I thought of writing the article. What I did is I collected some pictures from the web and wrote a detailed article on Bank Reconciliation (Manual and Automatic) on SimpleTaxIndia.
I have written manual as well as automatic and you can refer them both if you want.
You will easily learn from the article (as it is very detailed) on SimpleTaxIndia about the method of Automatic Bank Reconciliation. Still if you have questions, you know what to do.
Comment below (as more people would learn from your thoughts).
Leaving the rest up to you. Bye bye!