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Bank reconciliation

yogen (Accountant) (105 Points)

16 April 2013

sir,

i am maintaining the account in tally software, and i reconciled all the transaction but one cheque was issue on 28-3-13 RS 20000 which is not presented at bank by the party till 31-3-13 and not show on the bank statement.

my question is sir (1) how to reconcile this in tally though it related to previous year (2012-13) but cleared on 5-4-13 only.i already started a new compayny in tally.

(2) which balance i have to show in balance sheet " the balance shown on bank statemnet or balance in book of account after deducting above 20000.

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4 Replies

Amit Gupta (Account ) (67 Points)
Replied 17 April 2013

Dear Yogen,

If your Company A/c. not audit till date

so you can show Deducate of Rs. 200000

in current Perion (2013-2014)

CA D.C. Bansal (Accounts Head) (283 Points)
Replied 17 April 2013

If your cheque has not been cleared, it should reflect in reconciliation statement. You will have to show book balance in the balance sheet i.e. after taking effect of issued cheqe.

CA Poojit Khajuria (Practice) (99 Points)
Replied 17 April 2013

Yes, agreed with D. C. Bansal. The cheque issued should be reflected in the Bank Account. It will be cleared in current period. So you have to show the Balance after deducting this 20000.