Reconciliation Copyright © Texas Education Agency, All rights reserved.

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Discovery What do you think the term ‘reconciliation’ means? What are some circumstances in which this term could be used? Copyright © Texas Education Agency, All rights reserved. 3

Need to Know Terms Bank Reconciliation Bank Reconciliation Form Ending Balance Deposits in Transit Posted Outstanding Check Computed Book Balance Balance Per Your Books Overdraft Overdraft Protection 4 Copyright © Texas Education Agency, All rights reserved.

Introduction-Purpose of Assignment SWBAT (Student Will Be Able To) Successfully reconcile a bank statement using a template and provided worksheet data. 5 Copyright © Texas Education Agency, All rights reserved.

Guided Practice What you will need: Bank Reconciliation Template (Excel document) Bank Reconciliation Worksheet Data (Word document) We will work together through the first sheet tab of information, going through how to properly transfer the information from the worksheet data document to the template. Let’s see if we can balance our books! 6 Copyright © Texas Education Agency, All rights reserved.

Independent Practice What you will need: Bank Reconciliation Template (Excel document) Bank Reconciliation Worksheet Data (Word document) You will now work on your own and complete Sheet Tabs 2 and 3 (February and March data). Let’s see if you can balance your books! 7 Copyright © Texas Education Agency, All rights reserved.

Summary What does it mean to reconcile? (in banking terms) Why is reconciling important? What should you do if your books don’t balance? Is it good to pay an overdraft fee? 8 Copyright © Texas Education Agency, All rights reserved.