The Effective Date for Reconciliation is given for accounts falling under the Bank Accounts Group (or Bank OCC a/c). By default it is the books beginning date.
This is the date from which you can reconcile your bank account in your books with the bank statements. Normally, it would be the books beginning date.
However, you can import data from a previous version of Tally or from any other system (where the reconciliation process was not available or was different). In that case, you may not need to reconcile the bank account with your bank statements from the very beginning. Give the date from which you want the reconciliation facility to be activated. Then, previous entries will not appear for reconciliation.
