1. Reconcile a Bank Statement
Section 3.2

2. Reconcile a Bank Statement
What is the difference between:
a) Bank Statement b) Checkbook

3. Terminology Outstanding Deposit Outstanding Check
Deposit that has not been recorded by the bank yet
Outstanding Check
Check that you wrote that has not been cashed yet
Outstanding Withdrawal
Withdrawal you made that has not been recorded yet
Could be at ATM transaction, debit card use, etc…

4. Reconciling a Checkbook
The process in which you verify the bank’s records
Use done in a check register (checkbook)
Gives you an accurate count of the money you have in your account

5. Example Compare entries in check register with the bank statement.
Put a  next to any deposit or check listed on the bank statement
List all outstanding checks, deposits, and withdrawals
Calculate actual amount in bank account

6. Questions… Ending Balance from statement Deposits Outstanding
Checks Outstanding
Revised statement balance
Balance from checkbook

7. Individual Work
$2,368.29
$300
$119
$2,549.29

8. Class Work Complete numbers 1-5 on worksheet
Complete numbers 1-5 on page 127