Rev sweep
This query is : Resolved
24 February 2016
What is a reverse sweep entry in in smart saver bank? Whether I have to enter it in tally or not?
21 July 2025
Reverse Sweep Entry in Smart Saver Bank Account:
A reverse sweep is a banking feature where surplus funds that were automatically swept out of a current account into a fixed deposit (FD) or savings account are brought back (swept in) into the current account when needed, like to maintain minimum balance or meet payment obligations.
In simple terms:
Sweep Out: Moving excess funds from current account to FD/savings to earn interest.
Reverse Sweep: Moving funds back from FD/savings to current account when balance is low.
How to treat it in Tally?
Yes, you should record reverse sweep entries in Tally to reflect the accurate cash/bank position.
When funds are moved back to your current account, record a receipt or bank deposit entry from your FD or savings to current account.
This helps keep your books in sync with bank statements and avoid reconciliation issues.
Summary:
Transaction Accounting Entry in Tally
Sweep Out (to FD) Bank A/c (Current) Dr, FD A/c Cr
Reverse Sweep (from FD) FD A/c Dr, Bank A/c (Current) Cr
Make sure you check bank statements and enter corresponding entries in Tally for both sweep and reverse sweep to maintain accuracy.
A reverse sweep is a banking feature where surplus funds that were automatically swept out of a current account into a fixed deposit (FD) or savings account are brought back (swept in) into the current account when needed, like to maintain minimum balance or meet payment obligations.
In simple terms:
Sweep Out: Moving excess funds from current account to FD/savings to earn interest.
Reverse Sweep: Moving funds back from FD/savings to current account when balance is low.
How to treat it in Tally?
Yes, you should record reverse sweep entries in Tally to reflect the accurate cash/bank position.
When funds are moved back to your current account, record a receipt or bank deposit entry from your FD or savings to current account.
This helps keep your books in sync with bank statements and avoid reconciliation issues.
Summary:
Transaction Accounting Entry in Tally
Sweep Out (to FD) Bank A/c (Current) Dr, FD A/c Cr
Reverse Sweep (from FD) FD A/c Dr, Bank A/c (Current) Cr
Make sure you check bank statements and enter corresponding entries in Tally for both sweep and reverse sweep to maintain accuracy.
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