Banking compliance workflow for Tallyfy

Close the books with confidence every month

Unreconciled accounts hide problems that compound over time. This workflow guides accounting staff through cash reconciliation, sub-ledger verification, suspense account clearing, and management certification so nothing slips through month-end close.

4 steps

2 fields

Import into Tallyfy Preview steps

Banking

Run this workflow in Tallyfy

Import this template into Tallyfy and assign reconciliation tasks to your accounting staff with preparer name captured at kickoff

Configure form fields to track cash account status, loan and deposit sub-ledger balances, suspense items over 30 days, and management sign-off

Run monthly reconciliations through Tallyfy with deadline tracking from 5 to 15 days to ensure all steps complete before month-end close

Import this template into Tallyfy

Process steps

Reconcile cash and correspondent accounts

5 days from previous step

task

Reconcile the bank's nostro accounts (accounts at other banks) to statements received. Tie Fed account to Federal Reserve statement. Investigate all outstanding items. Cash accounts should reconcile to the penny - any variance is a problem.

Form fields in this step

Cash Accounts Reconciled *

Outstanding Items Total

Items Over 30 Days

Reconcile loan and deposit sub-ledgers

7 days from previous step

task

Tie loan system totals to general ledger loan accounts. Tie deposit system totals to GL deposit liability accounts. Investigate any variances. Sub-ledger to GL reconciliation proves your systems are in balance and catches posting errors.

Form fields in this step

Loan Sub-ledger Balanced *

Deposit Sub-ledger Balanced *

Variance Details (if any)

Reconcile suspense and clearing accounts

10 days from previous step

task

Review all suspense and clearing accounts. These should clear daily in normal operations. Investigate and clear any items over 30 days. Items stuck in suspense often indicate processing problems or losses hiding in plain sight.

Form fields in this step

Suspense Account Balances *

Items Over 30 Days *

Clearing Actions Taken

Management certification and filing

15 days from previous step

task

Prepare the reconciliation summary for management review. Get appropriate sign-offs. File completed reconciliations per retention schedule. Report any significant issues or unresolved variances. Clean reconciliations are an examination focus area.

Form fields in this step

All Reconciliations Complete *

Management Sign-off Obtained *

Issues Escalated *