Bank Reconciliation Statement
Originally published: 22/08/2022 09:23
Publication number: ELQ-23200-1
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Bank Reconciliation Statement

Bank Reconciliation Statement

Description
On the bank statement, compare the company’s list of issued checks and deposits to the checks shown on the statement to identify uncleared checks and deposits in transit.
Using the cash balance shown on the bank statement, add back any deposits in transit.
Deduct any outstanding checks.
This will provide the adjusted bank cash balance.
Next, use the company’s ending cash balance, add any interest earned and notes receivable amount.
Deduct any bank service fees, penalties, and NSF checks. This will arrive at the adjusted company cash balance.
After reconciliation, the adjusted bank balance should match with the company’s ending adjusted cash balance On the bank statement, compare the company’s list of issued checks and deposits to the checks shown on the statement to identify uncleared checks and deposits in transit.
Using the cash balance shown on the bank statement, add back any deposits in transit.
Deduct any outstanding checks.
This will provide the adjusted bank cash balance.
Next, use the company’s ending cash balance, add any interest earned and notes receivable amount.
Deduct any bank service fees, penalties, and NSF checks. This will arrive at the adjusted company cash balance.
After reconciliation, the adjusted bank balance should match with the company’s ending adjusted cash balanceOn the bank statement, compare the company’s

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