02 April 2013
I m working in retail co. this company have 20 branches in all over India I m working in ho office in that office separate company opened for every branch in tally. Every branch deposited cash in bank I have pass the entry in every branch in tally and exp related to that branch. If one common party in every branch I issue a common cheque of this party. But at the time of accounting I bifurcate the cheque of every ledger (i.e. leder name “A” sale goods to “b” and “c”branch of rs. 2000/- & 3000/- Respectively I pass the issue a cheque Rs. 5000/- & I pass the entry in “B” store Rs.2000/- & “c” store Rs. 3000/- Its huge problem in bank reconciliation , because in every branch bank account ledger created. I have big problem in bank Reconciliation. Please solve my query.
26 April 2013
You should maintain Bank Account ONLY in one Company, better in HO company. When making payment, in HO Debit the party credit the Bank, and subsequently biforcate the payment by passing corresponding JV in HO & Branch Companies. this will ease the process of reco.
CAclubindia
