Create SB,Current,OD(Checking Account) Bank Ledger in Tally ERP 9


Today we are learning “How to create a Bank Ledger in Tally ERP 9”. In this Tally Tutorial we are going to create
“Bank Over Draft Account Ledger”. This Business Accounting Software is having
“Bank Accounts” and “Bank OD A/c” Groups for Bank Ledger creation. Even thought you see Three Groups,there are only Two Groups available. I will reveal the secret now. Let us see in detail about “Bank Accounts” Group. This Group is a Current Asset, which is shown under the Assets side of the Balance Sheet. For Personal Bank Accounts like Savings(SB), Student Account, or Business Bank Accounts like Current Account, we have to create them under the “Bank Accounts” Group only. As these Bank Account Types holds our Balance in the Bank, then it is the Asset for us. For Checking Account also known as Over Draft(OD) or OCC Bank Account. We have to select “Bank OD A/c” Group from the “List of Groups”. If we see the “Bank OD A/c” Group in “Group Alteration(Secondary)” screen. “Bank OD A/c” Group having another name
“Bank OCC A/c”, which is an “alias” name for Bank OD A/c. Now the secret revealed that there are only 2 Groups not 3 Groups for Bank Ledgers in Business Management Software. Here even we choose the “Bank OCC A/c” from the List of Groups, it takes only “Bank OD A/c”. And it is shown under “Loans(Liability)”
in Liability side of the Balance Sheet. Because Bank gives us Loan.
Hence, it is Liability for us. for “Effective Date for Reconciliation”
provide the Date from when onwards the Bank Account need to be reconciled. It must be either the Starting Date in your Bank Statement or Books Maintaining Starting Date. Which ever is earlier. For Advance Configuration of Bank Ledger Like Cheque Book Creation, Printing. Set “YES” for “Set/Alter Bank Details” option. After setting that option we will be navigated to “Bank Details” screen for Advanced Bank Configuration. Select your Bank Name from the “List of Banks” available over here. Under “General Configuration” we can find Advance Configurations for Cheque Book Creation, Cheque Printing, and Auto Reconciliation. We have prepared a Video “How to Set or Configure Cheque Books in Tally ERP 9” Just click the Link beside the “Set Cheque Books” to watch the Video. We are Planning to design Videos for “Cheque Printing Configuration” and “Activate Auto Reconciliation”. Just subscribe our Youtube Channel for the updates. Account Details are not mandatory but you can provide your Bank Account Details. After you configured the Advanced Bank Settings you will get back to the “Bank Ledger Creation” Screen. “Mailing Details” allows you save your Bank Branch Address and Contact Details. It is also optional one. And come to the end and “Accept” the screen. Now we have created “Karnataka Bank” Account Ledger for “Over Draft Account Type”. Finally, request your “Comment about the Video”.
“Share” or “Like” this Video if you love it.

Leave a Comment

Your email address will not be published. Required fields are marked *