https://help.tallysolutions.com/docs/te9rel64/Banking/banking_payments.htm

Banking and Payments

The Banking feature in Tally.ERP 9 facilitates maintenance of records and processes that are fundamental to effective recording of accounting transactions for timely payments. This feature enables business owners to perform a host of bank-related activities, including payments to parties, bank reconciliation, and cheque management. Using this feature enhances and simplifies the banking experience significantly by saving time, reducing errors, improving productivity, and scaling up traceability.

The Banking feature in Tally.ERP 9 provides an end-to-end solution to the banking needs for running your company. You can use its e-payments capability to make timely payments to your parties, manage cheques, reconcile bank statements, and others. Tally.ERP 9's banking feature supports the following major areas of your business operations:

e-Payments - This feature is a unique capability that syncs your bank master, party master and voucher entry into a common platform sending the payment transaction to the bank. With e-payments, you can

o Easily record transactions using the electronic mode of fund transfer, including e-Fund Transfer, e-Cheque, and e-Demand Draft/PO.

o You can send completed payment transactions to the bank, with accurate bank details, either during voucher creation or from an intuitive e-Payments report under Banking.

Bank Reconciliation - In Tally.ERP 9, the bank reconciliation feature simplifies the complexity of managing mismatches between your accounts. You can

o Perform seamless reconciliation of the bank and company's account statements.

o Configure bank reconciliation statements in different ways to ease the reconciliation process and correct mismatches in your accounts.

o Print bank reconciliation statements anytime you need.

Cheque Management - Using the cheque management system, you can

o Maintain multiple cheque books and enable auto-increment of cheque numbers during voucher entry. This feature helps reduce manual errors and increase the speed of data entry.

o Manage cheques through their life-cycle - from issue to reconciliation - with the help of the cheque register.

o View the status of all cheques and use quick search for instant validation of the cheques.

o Print all the cheques for one or more banks all from a single screen.

o Update cheque details as and when you need and print multiple cheques with the click of a button.

o Print all cheques for one or more banks, all from a single screen for cheque printing.

See Also

Setting up Banking Features

Setting Up Security Control for Banking