Bank reconciliation (BRS) in TallyPrime
Match a bank statement with the bank ledger in TallyPrime, set the bank dates TallyPrime's own Bank Reconciliation reads, and prove the balance against the statement.
The Bank reconciliation screen reads the statement you download from net banking, matches each line with an entry on the bank ledger in TallyPrime, and, once you confirm, sets the bank date on those entries in TallyPrime. TallyPrime's own Banking, Bank Reconciliation report then shows the same result. The summary is worked from what TallyPrime holds, and held against the statement's closing balance.
Before you start
The Balancely connector is running and TallyPrime is open with the company.
The bank account is a ledger under Bank Accounts or Bank OD A/c.
The statement from net banking as Excel, CSV or PDF. If the bank's layout is new, open it once on the Bank statement page to map its columns; this page then uses that layout.
Bank reconciliation comes with every paid plan. On the Free plan the page says so and changes nothing.
Owner, Admin and Accountant roles can write bank dates.
Upload the statement
- 1
In Balancely, open Accounts and then Bank reconciliation, and choose the company at the top.
- 2
Under Bank account in TallyPrime, pick the bank ledger this statement is for.
- 3
Drop the file on Upload your bank statement. TallyPrime is read straight away.
- 4
Check As on. It starts at the statement's last date; the summary is worked as on that day.
How lines are matched
Only entries with no bank date, or a bank date after the as-on date, are matched. The amount and the side must agree: money into the bank on the statement is a debit to the bank ledger. Matching goes tier by tier, and a pair is taken only when each is the other's only candidate, so the order of the file never changes the result.
| How | What must agree | Ticked for you |
|---|---|---|
| Posted from here | The line was posted from a statement through Balancely, and became that voucher. | Yes |
| Cheque number or UTR | The same amount, and the cheque number, UTR or RRN is the entry's instrument number or is in its reference or narration, within 3 days before to 30 days after. | Yes |
| Amount and party | The only entry of that amount within the usual clearing time (3 days for transfers, 15 for cheques, 2 for cash), from a party whose name fits. | Yes |
| Same amount | The same amount within 45 days. | No, shown under Check these |
| Several entries | One deposit of up to six cheques, or one entry the bank credited in parts. | No, shown under Check these |
The tabs
| Tab | What it means | What to do |
|---|---|---|
| Matched | A sure match, ticked. | Untick any that is wrong. |
| Check these | A suggestion, a group, or a line with more than one entry that fits. Not ticked. | Pick the right entry in the list where there is a choice, then tick it. |
| Only in books | An entry in TallyPrime dated on or before the as-on date that the statement does not show: a cheque not yet presented, or a deposit not yet credited. | Nothing. It is in the summary as TallyPrime shows it. |
| Only in bank | A statement line with no entry in TallyPrime: interest, charges, a receipt not yet entered. | Select them and choose Post. They go in with the statement date as their bank date. |
| Already reconciled | TallyPrime already has a bank date for it. | Check any marked with a different date on the statement. |
Write the bank dates
Choose Write with the count, for example Write 18 bank dates to TallyPrime. Each entry is changed on its own:
- 1
The entry is read again. If it was changed in TallyPrime since you looked, or its amount differs, it is left alone and marked Not written.
- 2
Only the bank date is set, on the bank ledger's line. An entry without a cheque or UTR on that line also gets the statement's reference.
- 3
The entry is read back and compared with what it was. Anything else that changed is reported at once.
Up to 200 go in one batch. If the connector or TallyPrime stops answering, the rest wait and nothing is written twice when you write again. TallyPrime's edit log records each change.
Undo a bank date
Under Bank dates set from here, select the entries and choose Undo. Each goes back to unreconciled in TallyPrime; nothing else on it changes. Each change is kept for 180 days with the entry as it was before.
The summary
| Line | What it is |
|---|---|
| Balance as per company books | The bank ledger's balance in TallyPrime as on the as-on date. Dr is money in the bank. |
| Less: deposits not yet credited by the bank | Money in, dated on or before the as-on date, with no bank date by then. |
| Add: cheques issued, not yet presented | Money out, dated on or before the as-on date, with no bank date by then. |
| Balance as per bank, worked out | The figure TallyPrime's own Bank Reconciliation shows as Balance as per Bank. |
| Entries only in the bank | Statement lines not in TallyPrime: credits add, debits take away. |
| Closing balance on the statement | The last balance in the file. |
| Difference | Should be 0.00. A difference points to a line not matched, a statement that does not add up, or an entry from before the statement still open. |
Before writing, the summary shows what TallyPrime will read once the ticked bank dates are written. After writing, TallyPrime is read again and the summary is TallyPrime's own.
What happens in TallyPrime
The bank date is set on the bank ledger's line of each entry, as Banking, Bank Reconciliation does. No amount, ledger, date or bill changes.
Entries with stock lines, more than one line on the bank ledger, or a payment split over several cheques are left for you to reconcile in TallyPrime; the page says which.
A bank date before the entry's own date is refused. Correct the entry date in TallyPrime first.
Receipts and payments posted from a bank statement in Balancely carry their cheque number or UTR and the statement date, so they are reconciled when they go in.
Setting a bank date is not an entry: it is not counted towards your plan. Lines posted from the Only in bank tab are entries and count as usual.
Common questions
How do I do bank reconciliation in Tally online?
Download the bank statement, open Bank reconciliation in Balancely, pick the bank ledger and upload the file. Confirm the matches and write the bank dates; TallyPrime's own BRS then shows the same result.
Does it work with my bank?
It reads any bank's Excel, CSV or text PDF statement. A new layout is mapped once on the Bank statement page and remembered.
Can it match a cheque deposit of several cheques?
Yes. One deposit line that equals two to six entries is suggested as a group, as is one entry the bank credited in parts. You confirm each group.
What if I write a wrong bank date?
Select it under Bank dates set from here and choose Undo. The entry goes back to unreconciled in TallyPrime.
Will it change my entries?
Only the bank date on the bank line, and an instrument number where the line had none. Each entry is read back after the change, and anything else that moved is reported.
Does bank reconciliation count towards my plan?
No. Matching and setting bank dates are free on every paid plan. Only entries saved in TallyPrime count.
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