Step 1: Configure Bank Ledger for Reconciliation

Before performing reconciliation for the first time, configure your bank ledger with:

• Reconciliation Beginning Date

• Opening BRS (Bank Reconciliation Statement)

By default, the reconciliation beginning date is set to the first day of the financial year. However, you can modify it as per your preference.

How to Set the Reconciliation Beginning Date

1. Press Alt + G (Go To)

2. Select Alter Master > Ledger > Bank Ledger

3. In the Ledger Alteration screen, enable Set/Alter Bank Configuration

2. In the Bank Configuration screen, set the Reconciliation Beginning Date

If there are unreconciled transactions before this date, they will not appear in the Bank Reconciliation Report unless you add them manually.

Step 2: Set the Opening BRS

After setting the reconciliation beginning date, add unreconciled transactions from before that date in the Opening BRS Report.

How to Set the Opening BRS

1. In the Bank Configuration screen, enable Set/Alter Opening BRS

2. On the Opening BRS Screen:

• Press Alt + L to update the Opening BRS

• Add the unreconciled transactions

• Press Ctrl + A to save and accept

Alternatively, you can set the Opening BRS from the Banking Activities Report.

Step 3: Reconcile Transactions After Splitting a Company

If a company is split, unreconciled transactions in the books and bank will automatically appear as Opening BRS in the child company.

Recommendation

• Before splitting company data, import your bank statement for the period so that unreconciled bank transactions appear in the Opening BRS.

• After this, you can import your bank statement and reconcile transactions.

Step 4: Import Bank Statements

If your bank supports Connected Banking Services, you can fetch the bank statement directly into TallyPrime.

Manual Import (If Connected Banking Is Not Available)

1. Press Alt + O

2. Select Bank Statement

3. In the Import Bank Statement screen:

• Select the Bank Ledger

• Specify the file path

• Select File Type as Supported

• Enable Show Preview

• Press Ctrl + A to accept

4. In the Bank Statement Preview screen:

• Press I to import the statement

After importing, you can:

• View the number of entries imported and exact matches

• Press S to directly go to the Bank Reconciliation Summary

• Or press Escape to reconcile later

Step 5: Viewing Bank Reconciliation Reports

Before reconciling, you can view the Banking Activities Report.

How to View Banking Reports

1. Press Alt + G

2. Type or Select Banking Activities

3. The Banking Activities Report provides:

• Count of unreconciled transactions

• Total amount of unreconciled transactions (Press F5)

• Deposits & withdrawals (Press Ctrl + H)

Bank Reconciliation Summary

Drill down from the Bank Reconciliation column to view:

• Balance as per company books

• Balance as per bank statement

• Transactions only in books vs. only in bank

• Unreconciled e-payments (if enabled)

Viewing Unreconciled Transactions

• Drill down from Unreconciled Transactions to view all pending transactions.

Step 6: Reconcile Book & Bank Transactions

After setting up, you can reconcile your book and bank transactions.

Summary

• Set the Reconciliation Beginning Date & Opening BRS

• Import the bank statement and reconcile transactions

• View reports before reconciliation

• Use Connected Banking or Manual Import

• Resolve issues with bank statement formats via TallyCare

To learn more, watch the video “How to Reconcile Book Transactions with Bank Transactions in TallyPrime”

By following these steps, you can easily manage Bank Reconciliation in TallyPrime. 🚀