You may find that when you look at a Balance Sheet or Trial Balance report, the balance shown for your bank account(s) doesn’t match the balance shown for the account elsewhere in Tally (such as the Overview page or under the Bank tab). There are two possible causes for this.
Amount entered as a Starting Balance
This is usually because of the Starting Balance option, which can be found by clicking the Bank tab and then clicking the Edit Details button next to the relevant account.
The figure entered here doesn’t form part of your financial accounts and is only used for calculating your balance for display and reconciliation purposes.
If you’re setting up the balances, so they do form part of your accounts you will need to enter an opening balance for all of your codes and should NOT use this option. Set the amount to zero so it doesn’t interfere with your accounts. To create an opening balance that DOES form part of your accounts (i.e. your Trial Balance and Balance Sheet) then enter it as a journal. Usually this would be as part of a longer journal entry containing opening balances for all of your nominal codes.
Transactions dated before the start date of your bank account
This could also be due to having transactions recorded before the start date of your bank account. If you add transactions before the start date of your account then the Bank in Tally won't add this to your overall amount on the Overview or in the Bank tab, however reports such as the Trial Balance and Balance Sheet will include this amount because they are run from Day One of your account (01/01/1970) – the date specified.
To fix this just go to Bank> Edit Details and set your Start date to the date of your first transaction, the set the Reconcile Date to 1 day before.
You will then notice the amounts are brought in to the bank balance on the Overview or Bank Balance page.