CASH & Bank Reconciliation

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Presentation transcript:

CASH & Bank Reconciliation Accounts in English CASH & Bank Reconciliation

CASH & Bank Reconciliation Prepare a bank reconciliation and explain its purpose. Record entries of bank reconciliation.

Prepare a bank reconciliation Adjustments the Bank Balance: Outstanding checks. Deposit in transit. Service charges (SC). NSF (non-sufficient fund) checks Interest collected by banks.

Bank Reconciliation Adjustments to the bank balance Cash balance per bank statement (before adjusted) xx + Deposit in transit xx -outstanding checks (xx) + or - Bank errors xx Adjusted cash balance per bank xx

Bank Reconciliation Adjustments to the book balance Cash balance per books (before adjusted) xx + Notes receivable and interest collected by banks xx -Collection fee (xx) -Printing checks (xx) -Service charges (SC) (xx) -NSF (non-sufficient fund) checks (xx) +or - Book errors xx Adjusted cash balance per books XX