This article describes how to create a new bank account in Tally.

Creating the New Account

To create a new bank account go to Bank > Add a New Bank Account and enter in the following:

• Account Name – give this account a unique identifying name, i.e. "RBS Business Current Account"
• Starting Date – the starting date should be before the first transaction, i.e. 01/01/1970
• Starting Balance – this should be 0.00. If this account has transactions associated to it you will either have to input all these transactions using the importer, manually by adding transactions (bank transactions, invoice payments, purchase payments) or by using the opening balance journal

When ready, click Update. Your clearing account has now been created.