Bank reconciliation updating cashbook guy loses interest dating
These may be made by the bank and included in the bank statement or in the cash book.
The debit balance on the bank account in his general ledger is ,717.
Within each of the types of entry referred to above there are a number of common examples.
The adjusted bank statement balance (5,300) is now equal to the adjusted cash book balance (5,300), so the bank reconciliation is complete.
When performing a bank reconciliation, you compare your internal financial records against the records provided to you by your bank.
A monthly reconciliation helps to catch and identify any unusual transactions that might be caused by fraud or accounting errors, especially if your business uses more than one bank account.
The period of days between the business posting the check and the bank posting the check results in items in the cash book not on the bank statement.