Bank balance maintaining file

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karan verma (Querist)

13 July 2013 Dears experts

I went for an interview. The M.D of the company told me that you have to maintain two bank account in a way that cheque should not be bounced, if there is a low balance then i should told the m.d about this issue, if there is excess balance then funds should transfer to liquid mutual fund account.

I know that we can make a excel file daily we can update that file with payment and receipts,
so i any of you have that kind of file then please mail me.

thanks
in advance

karan verma

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)

14 July 2013 From the history of the company; first of all decide - generally what average cash/bank balance is needed to retain in the business.
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The most important work is to avoid dishonour of cheques.
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Excel Sheets will consume more time.

Better you focus for online accounting to know balance at any point of time. For this; you may take help from the accountant of the company and get daily summary of cash/bank transactions.
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However; for secondary check; you may maintain excel-sheet.
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In a business house; it is very tough task to maintain balance in excel sheet.

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