Reconcilation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2014 Sir,
I am trying to reconsile last FY year entry in dtd 27/03/2014 cheque cleared on 02/04/2014 but its not showing bal as per bank account
please suggest how do i solve it.
Thanks.

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 April 2014 Prepared bank reconciliation.

In bank reconciliation only those entries will come which are reflecting in our books but not in bank statement and vice versa.

In your case it will be shown in reconciliation as cheque issued / deposited (as the case may be) but not cleared, which will be added / deducted from the balance of bank book, after giving this effect it will be tallied with balance as per bank statement.

Regards,
Devanand

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2014 Sir,
Said payment has been cleared in 02/04/2014

i am trying put the dt in recincilation in last year i.e.13-14 but its not showing bal as per bank.

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CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 April 2014 Are you sure it is the only amount not reflecting in the bank statement.

Kindly go through the bank book and bank statement again and find out if any other amount is also not reflecting, and also check opening balances are tallied ?

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2014 Sir,
in Bank statement amt is reflecting .
in tally book i am putting dt when amt is cleared in bank tally takes dt. but bal is not being change as bank statement
why so ?
please suggest

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 April 2014 If all other entries are matching, then it should be tallied.

Are you preparing reconciliation manually or through tally only ??

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2014 i maintain tally & excel sheet also

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 April 2014 If you know the logic and how to prepare bank reconciliation, then it is you only who has find out why it is not matching.

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Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2014 Sir,
is there any connection with last fy & current fy year due to this it is not matchin?

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 April 2014 Yes, for this check opening balance (as on 1st april) if it is not matching there should be reconciliation in last year, please verify this and give effect of this in current year.