How to do Auto Bank Reconciliation in TallyPrime: 3 Easy Steps

Managing your finances just got easier with TallyPrime’s Auto Bank Reconciliation feature.

This seamless process can save you time and ensure your books are always up-to-date.

Let’s walk through the steps to set up and perform Auto Bank Reconciliation effortlessly.

1. Enable Auto Bank Reconciliation:

  • Navigate to Gateway of Tally > Accounts Info > Ledgers > Create / Alter.
  • Choose the bank ledger you want to reconcile and press Alt+G (Go To) > Alter Master > type/select Ledger > Enter.
  • Alternatively, go to Gateway of Tally > Alter > type/select Ledger > Enter.
  • Press F12 (Configure) in the Ledger Creation/Alteration screen.
  • Activate Set Bank Reconciliation and e-Payments.
  • Configure Auto Reconciliation:
  • Enable Auto Reconciliation.
  • Specify the Location of bank statements and the Location of imported bank statements.
  • Press Ctrl+A to save the changes.

2. Auto Bank Reconciliation Steps:

1. Import Bank Statement:

  • Go to Gateway of Tally > Banking > Bank Reconciliation.
  • Select your bank ledger from the List of Bank Ledgers.
  • Click B: Bank Statement to import your bank statement.
  • Choose the downloaded statement file in the Select File screen.
  • TallyPrime will import and display the statement in the Bank Reconciliation screen.

2. Auto Reconciliation (Optional):

  • If auto-reconciliation is enabled, TallyPrime will attempt to match transactions automatically based on criteria like date, amount, and payee/payer.
  • Review the auto-matched transactions:
  • Press Alt+B to skip unmatched transactions.
  • Press Alt+S to stop auto-reconciliation and proceed with manual matching.

3. Manual Matching:

  • For unmatched transactions, place the cursor on a transaction in the statement list.
  • Press Alt+J to create a voucher (receipt or payment) in TallyPrime to match the transaction.
  • Select the appropriate ledger, amount, and details.
  • Press Enter to save the voucher and reconcile the transaction.

4. Finalize Reconciliation:

  • Once all transactions are matched, press Ctrl+A to accept the reconciliation.
  • TallyPrime will update your accounts and generate a reconciliation report.

3. Additional Tips for Smooth Reconciliation:

  • Filter transactions in the statement list for easier matching.
  • Utilize advanced matching options in the Configure menu (F12) for more control.
  • Regularly review and reconcile bank statements to ensure accurate records.

By following these simple steps, you can effortlessly manage your bank reconciliations, allowing you to focus on what matters most – growing your business!


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