Reconciliation of Bank Statements is a key part of CAT CONTROL ACCOUNTS, JOURNALS and the BANKING SYSTEM course.
You are part way through the CONTROL ACCOUNTS, JOURNALS and the BANKING SYSTEM course and you should have read the pages listed below before reading this page:
Welcome to Reconciliation of Bank Statements
An Accounting Ttainee or Bookkeeper should have a good understanding of a bank reconciliation statement and understand why it should be prepared on a regular basis.
A bank reconciliation statement is basically a fancy word use to tie-up accounting entries in the businesses’ cash book with the entries on the statement produced by the bank. The month end balance on the bank statement rarely agrees with the month end balance on the cash book.
As an Accounting Trainee or Bookkeeper you need to know and explain why there are discrepancies between the cash book and the bank statement. You should be able to explain to the examiner:
-what is meant by a timing difference
-what is an unpresented cheque
-what are lodgements not yet credited
The Accounting examiner will expect you to have a thorough knowledge of Reconciliation of Bank Statements .
The link to Amazon for the recommended reading on Reconciliation of Bank Statements is:
Now lets test your knowledge of a bank reconciliation statement – go to the test below.
QUIZ: Reconciliation of Bank Statements
Leaderboard for bank reconciliation statements1. -27 Points
2. -24 Points
3. -24 Points
4. -24 Points
5. molo-24 Points