Banking

Whatever the business, it is invariably linked with its Bank or Banks on a day-to-day basis. Often, transactions could run into thousands per month for even a small business. Business managers get a real boost from this new functionality built into Tally.ERP 9 Release 3.0. In fact, it's so powerful and all-encompassing that Banking is assigned its own New Section within the product.

Just what every business needs, the Bank allocation feature brings everyday bank- related chores right to your fingertips and eases transactions and processing.

Highlights:

Multiple instrument and Mode of Transaction details in single voucher

The new Banking feature allows you to record and monitor multiple transactions in a single voucher. Also, while the old system only captured the dates of transactions, this feature allows the monitoring of transactions by Amount, Date, Instrument Number or modes (like NEFT, Cheque, DD, etc.), thereby conveying a more complete picture. The ability to identify payment modes in the system and separate dates for each instrument eases bank reconciliation.

Instrument-wise reconciliation

Reconciliation can be done for each instrument rather than the entire voucher. The instrument details (number, date, etc.) are displayed for easier reconciliation.

In case of unseen transactions such as Bank charges, interest paid etc., these can be captured in a new voucher without discarding the BRS (Bank Reconciliation Statement) in progress. Further, existing vouchers can be altered in case of any discrepancy found during reconciliation.

Opening BRS

The new Banking feature allows the manual recording or automatic carrying forward of the un-reconciled bank transactions from the current year to the subsequent year (as Opening BRS). These can then be reconciled in the subsequent year.

Cheque printing configuration with Preview

Enhanced cheque printing configuration with print preview to reduce wastage. Further it has been simplified to copy measurements from previous configurations.

Multiple cheque printing/capture

A separate "Cheque Printing" report (in the Banking section) has been introduced to enable multiple cheque printing with ease. Also, know if a cheque has been printed or not by a simple Yes or No against each cheque.

Also, since it is sometimes not possible to know which Amount/Favouring Name is going to be printed on which cheque leaf, cheque details can also be recorded after printing.

Payment advice printing

A system-generated payment advice (covering letter for payments) can be printed for a single or multiple vouchers.

Deposit slips printing

Deposit slips can be printed for a single or multiple cheques, further simplifying Banking transactions.

Benefits: