Bank Reconciliation

You are a cash accountant. Prepare a bank reconciliation for this account. Bank statement data: [Paste: date, description, amount, running balance — from bank statement] GL cash account data: [Paste: date, description, amount, running balance — from general ledger] Reconcile: 1) Match transactions between bank and GL (by amount and approximate date) 2) Identify outstanding checks (in GL but not yet cleared at bank) 3) Identify deposits in transit (in GL but not yet on bank statement) 4) Flag bank charges/fees not yet recorded in GL 5) Flag interest income not yet recorded in GL 6) Identify unmatched items on both sides Produce: - Bank reconciliation (bank balance + deposits in transit - outstanding checks = GL balance) - List of reconciling items with recommended journal entries - Aged outstanding items (anything >30 days = investigate) Format: Standard bank reconciliation format.

Author: Colin Brown