OVERVIEW/INTRODUCTION TO BANK RECONCILIATION IN MARG BOOKS
Bank Reconciliation Statement
Bank Reconciliation Statement is a statement prepared to reconcile and explain the causes of difference between the bank balance as per cash book and the same as per pass book as on a particular date.
Objectives of Bank Reconciliation
1. To determine that all payments made by the bank are properly charged to the bank account.
2. To ascertain that all amounts deposited are properly credited by the bank.
3. To make certain that opening and closing balances carried by the bank are correctly computed.
4. To verify periodically the accuracy of the firm’s own computation of bank balances.
PROCESS OF BANK RECONCILIATION IN MARG BOOKS
Once we have pass all the entries related to Bank after that Bank reconciliation process will be started. Through this process we can put a clearance date as per the Bank Statement so that we can confirm in our record that the cheques which we have deposited or Issued to any party will be cleared as per our bank records.
Although if any charges charged by the Bank Eg; Bank Charges, Bank Interest etc. for that we can also pass the fresh entries.
1. Date: Mention the date on which the user will are putting the ledger opening.
2. Account: Select the Bank account whose opening balance needs to be entered.
3. Trans. Type: Select the transaction type i.e. Deposits & Issues as per the requirement.
4. Inst. Type: Select the instrument type i.e. Cheque, D.D., RTGS, etc. as per the requirement.
5. Inst. No.: Enter the instrument number.
6. Inst. Date: Enter the instrument date.
7. Remark: Enter the remark as per the requirement.
PROCESS TO VIEW CLEARED CHEQUES IN MARG BOOKS
In order to view the cleared cheques, the user will follow the below steps:
PROCESS TO VIEW UN-CLEARED CHEQUES IN MARG BOOKS
In order to view Un- cleared cheques, the user will follow the below steps:
|1||Date wise Bank Reconciliation||D|
|2||Feed opening details of Bank||B|
|3||Clear All Cheques||C|
|4||View Cleared Cheques||E|
|5||View Un-Cleared Cheques||U|
|6||View All Cheques Entry(Cleared & Un-Cleared)||N|