Bank balance maintaining file

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karan verma (Querist)
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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)
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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.