Banking in TallyPrime

The banking feature in TallyPrime, enables business owners to perform a host of bank-related activities, including payments to parties, bank reconciliation, and cheque management. Usage of this feature enhances and simplifies the banking experience significantly by saving time, reducing errors, improving productivity, and scaling up traceability.

It provides amazing banking capabilities for running your company. You can use its e-payments capability to make timely payments to your parties, manage cheques, reconcile bank statements, and others. TallyPrime’s banking feature supports the following major areas of your business operations.

Banking utilities in TallyPrime

In Daily business transactions, everyone wants specific bank to manage your transactions write, receiving and making payments. TallyPrime offers you a host of utilities including:

  • Bank reconciliation
  • Cheque management
    • Cheque Register
    • Cheque Printing
    • Post-dated Summary
  • E-payments
  • Deposit Slip

Do the following entry.

Leader creation: –

  1. HDFC Bank
  2. Kotak Bank

Gateway of tally ——> Create ——> Ledgers

Under:Bank Account
A/c holder’s name:Riya
A/c no.:135427812564
IFS code:AAAA0123456
Bank name:HDFC

Set /Alter range for cheque books——> Yes

From numberto numberNumber of ChequeCheque book Name

Similarly, create Kotak Bank details as above, where some details are as follow.

From numberto numberNumber of ChequeCheque book Name

Do the follow transaction in Contra voucher: –

1-4-2023HDFC & Kotak Bank has opening Bal. of Rs. 450000 and 600000 respectively.
2-5-2023Cash Deposited to HDFC Bank Rs. 50000 /-
5-6-2023Cash Deposited to Kotak Bank Rs. 60000 /-
1-8-2023Transfer from Kotak to HDFC Bank Rs. 50000/- (Cheque no.741852)
1-9-2023Transfer from HDFC to kotak Bank Rs.25000/- (Cheque no.123456)
1-10-2023withdrawn Rs.10000/- from HDFC

To View Cheque Deposit Slip

  • Gateway of Tally —–> Banking —–>Cheque Deposit Slip

Do the following entry without Bill-wise details

Note: – To Prevent from doing bill-wise entry disable below option

Press F12(Configure) ———> Preallocate bills for payment/Receipt/Journal Voucher—-> No.

Payment Voucher: –

1/5/2023Paid salary 25,000 /- to employee by kotak bank (cheque no. 741950).
2/6/2023Paid Rs 10,000/- for printing and stationery.
1/7/2023Paid salary 35,000 /- to employee by HDFC bank (cheque no. 123780).
1/9/2023Paid Rs 5,000 /- to Soni and sons Co.
2/10/2023Paid Rs 15,000 /- to Novelty and Co.

To view Payment transaction by bank

  • Gateway of tally ——> Banking ——->Payment Advice

Receipt Voucher: –

1/5/2023Received commission Rs 5,000.
1/6/2023Received from Supreme computer Rs 10,000.
2/7/2023Received from Hindustan supplier Rs 15,000.
2/9/2023Received from Vishakha traders Rs 9,000.
1/10/2023Received from Unique traders Rs 12,000.

To view Payment as well as receipt transaction by bank

  • Gateway of tally ——> Display More ——->Account Book ——-> Cash/Bank (Book)

How to do bank reconciliation in tally?

  • Gateway of tally ——> Banking ——->Bank Reconciliation—-> Select Bank

Finally input bank date as required

How many cheques has been reconcile /registered/unreconciled/cancel?

  • Gateway of tally ——> Banking ——-> Check Register