🏦 Mastering Banking in TallyPrime : A Complete Guide to Reconciliation, Payments & Digital Integration

Banking in TallyPrime has evolved far beyond manual ledger entries. It enables businesses to directly manage payments, automate reconciliations, track deposits, and even initiate e-payments to vendors. This guide covers every essential feature of Tally’s banking module—structured for practical implementation by businesses in India.

🧾 Basic Requirements to Use Banking in TallyPrime

Ensure the following setup before using banking functionalities in Tally:

• ✅ Company is already created and open
• ✅ Bank ledger is created with correct account type (savings, current, OD, etc.)
• ✅ E-payment and auto reconciliation features enabled via F11 > Accounting Features
• ✅ Internet access and proper bank authorisation (for e-payments)
• ✅ Latest version of TallyPrime installed for banking plugins

⚡ Shortcut Summary for Banking in Tally

💳 Step 1: Creating Bank Ledger in Tally

1. Gateway of Tally → Accounts Info → Ledgers → Create
2. Name: HDFC Bank Ltd
3. Under: Bank Accounts
4. Set ‘Provide bank details?’ → Yes
5. Enter:
   • A/c Number
   • IFSC Code
   • Type of A/c (Current/Savings/OD)
   • E-pay configuration (optional)

🧠 Tip: Always match account names with passbook for seamless reconciliation.

🔄 Step 2: Bank Reconciliation in Tally

🔹 Manual Reconciliation

1. Gateway → Banking → Bank Reconciliation
2. Select the required bank ledger
3. Enter dates of clearance for each transaction as per the bank statement

🔹 Automatic Bank Reconciliation

1. Download bank statement in .CSV format from net banking
2. Go to Banking → Bank Reconciliation → Import Bank Statement
3. Tally will match entries and auto-mark reconciled ones

💡 You can view a summary of reconciled vs unreconciled entries in the reconciliation report.

💸 Step 3: E-Payments Setup and Execution

E-payments allow direct bank transfers from within Tally via supported banks.

✅ Supported Banks for E-Payment

• HDFC, ICICI, Axis, SBI, Kotak, YES Bank (and more)

🔹 Enabling E-Payments

1. Go to F11 → Accounting Features
2. Enable ‘Set/Alter e-payments configuration’
3. Select your bank and enter authorisation details (user ID, etc.)

🔹 Creating E-Payment Vouchers

1. Voucher Entry → Payment (F5)
2. Mode of payment: Bank Transfer
3. Save the voucher
4. Go to Banking → E-Payments → Select vouchers → Export file

You can upload this file to your bank portal for auto-processing.

🧾 Step 4: Cheque Book Management and Register

Track issued and cleared cheques with Tally’s Cheque Register.

🔹 Setup Cheque Book

1. Gateway → Banking → Cheque Printing → Cheque Book Management
2. Enter:
   • Bank name
   • Cheque range (e.g., 100001–100050)
   • Start date

🔹 Print Cheques

• Go to Voucher → Print → Select “Payment Advice” or “Cheque”
• You can configure layout as per bank format

🔹 Cheque Register

• Gateway → Banking → Cheque Register
• Monitor pending, cleared, or cancelled cheques

📈 Key Benefits of Using Tally Banking Features

90% Faster Bank Reconciliation  
100% Accuracy in Payment Advice  
E-Payments Integration with 10+ Banks  
Real-Time Bank Ledger Updates  
Cheque Register with Tracking Alerts

📊 Commonly Used Banking Reports in Tally

🛡️ Security Controls for Banking Module

Tally offers layered user-level permissions to avoid manipulation.

Setup:

1. Gateway → Alt + K (Company) → Security Control → Users & Passwords
2. Define role permissions:
   • View-only access for staff
   • Approval needed for high-value payments
   • Prevent voucher alteration post export

🔗 Internal Links

• Learn about PAN Registration
• Understand TDS Compliance
• Explore Audit Trail Feature in Tally
• Know more about GST Registration

🌐 External Link

• Income Tax E-filing Portal
• GST Portal

❓ FAQs on Banking Features in TallyPrime

• What’s the minimum Tally version required for auto bank reconciliation?
  TallyPrime Release 1.1 and above.
• Can I upload bank statements in PDF for reconciliation?
  No. Only .CSV format is accepted for auto-reconciliation.
• Is cheque printing supported for all Indian banks?
  Most major formats are supported; customization is available.
• How do I enable e-payments in Tally?
  Enable via F11, then configure in e-payments setup screen.
• Can I track bounced cheques in Tally?
  Yes. You can mark cheques as dishonoured in the register.
• Is there a limit on e-payments per day?
  Limits depend on your bank portal and Tally export batch size.
• Can Tally send email alerts for due payments?
  Yes. Configure email settings under F11 > Features.
• Does cheque range auto-update when new books are issued?
  You need to manually enter the new cheque range.
• How secure is e-payment in Tally?
  E-payment uses bank encryption and Tally’s role-based access control.
• Can I use UPI in Tally banking?
  Not natively, but UPI payments can be recorded manually.

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