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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Issuing of delivery challan by seller of goods
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
