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🔽Bank reconciliation🔽 Bank reconciliation explains the difference between the bank balance shown in an organization's bank statement and the corresponding amount shown in the organization's accounting records, on a particular date. To reconcile the bank statement Go to 'Gateway of Tally > Banking > Bank Reconciliation' Select the name of the required bank The 'Bank Reconciliation' screen appears: Match every transaction with the bank statement and record the transaction date in the 'Bank Date' field. Accept the screen to reconcile the bank ledgers as per the corresponding banking statement. 🔽TRAIL BALANCE 🔽PROFIT AND LOSS ACCOUNT BALANCE SHEET 🔽COST CATEGORY IN TALLY

COMPUTERISED ACCOUNTING Computerized accounting is  the use of accounting software to record, store, and process financial transactions electronically, replacing manual methods like ledgers . This system automates tasks like invoicing and payroll, leading to increased accuracy, efficiency, and faster reporting. 🔽ADVANTAGES 🔽 1.Speed and efficiency:  Tasks like data entry, calculations, and report generation are much faster, saving significant time compared to manual methods.  2.Accuracy:  Automation reduces human error from manual calculations and data entry, leading to more reliable financial records.  3.Real-time data:  Financial information is updated immediately, providing up-to-date insights for better and more timely decision-making.  4.Automated reporting:  Generating financial statements like profit and loss accounts and balance sheets becomes an instant process.  5.Reduced paperwork and storage:  Storing records el...

🪧 ONLINE BANKING 🔽  Internet banking allows a user to conduct financial transactions via the Internet. 🔽 Internet banking is also known as online banking or web banking. Features of Internet Banking 1.The customer can view account statements. 2.It is 24 x 7 services. 3.The customer can check the history of the transactions. 4.The customer can buy and sell on e-commerce platforms. MOBILE APPLICATION BANKING Mobile banking is a service that allows a bank's customers to conduct financial transactions using a mobile device.  CORE BANKING 👉Core Banking System (CBS) refers to a common IT solution wherein a central shared database supports the entire banking application.  👉It allows theuse various banking facilities irrespective of the bank branch location.   characteristics   1.There is a common database  2.Branches function as delivery channels providing services to its customers. 3. centralized Banking Application software...

INTERNET VULNERABLE 🔽A vulnerability is a weakness in an IT system that can be exploited by an attacker to deliver a successful attack.  🔽They can occur through flaws, features or user error, and attackers will look to exploit any of them, often combining one or more, to achieve their end goal. 🔽The internet is vulnerable due to weaknesses, known as vulnerabilities, in hardware, software, and user behavior that cybercriminals can exploit to steal data or disrupt services. 🔽 Common vulnerabilities include unpatched systems, misconfigured network devices like routers, and weak passwords.  HACKING hacking is the act of exploiting vulnerabilities to gain unauthorized access to a computer system, network, or digital device for various purposes, including data theft, system disruption, or manipulation. DATA THEFT Data theft in cybersecurity is the unauthorized access and copying, transfer, or retention of sensitive personal, financial, or proprietary info...

The IT Act 2000 , or The Information Technology Act, 2000, is India's primary law that governs cybercrime and electronic commerce by providing legal recognition for digital transactions, promoting electronic filing with government agencies, and amending existing laws to accommodate digital communication. The IT Act 2000 is India's primary law for electronic commerce and cybercrime, enacted to provide legal recognition to electronic records and digital signatures, and to prevent cybercrimes and electronic fraud. 🔽SCOPE OF  IT Act, 2000:🔽 Legal Recognition of Electronic Transactions:  It makes electronic commerce and other electronic communication methods legally valid, providing an alternative to traditional paper-based methods.  Digital Signatures:  The Act recognizes digital signatures as the legal equivalent of physical signatures, allowing for the verification of electronic documents.  Electronic Filing with Government Agencies:  It facilitates the ele...