Bank Reconciliation Example
What is Bank Reconciliation?
To make corrections of differences found between the sum shown in account holder’s reports and the closing balance shown by a bank statement is known as bank reconciliation. These differences are related to different transactions like some cheques that were deposited but are not cleared, cheques paid but not presented etc. If the consistency in differences continue, it is necessary to discover the differences and to match the records. To check the transactions of the account holder report and the bank statement of account is put side by side to expose any disagreement that is resulting in difference in balance.
Bank Reconciliation Template
Just in case if you are wasting significant time in reconciling the bank statements every month and still not able to reach at reconciliation between your account and the bank statement, then you surely need to take help of bank reconciliation template that can be found online. This template is specifically designed and is very much helpful in making the complicated reconciliation procedure less complicated, and is precise and also works for you by doing some book keeping work. You just need to fill in the relevant data into the respected columns of this template and this template will make calculation of all values and will inform you straight away whether your records are in agreement with your bank account balance or not. And once a disagreement in balance is found, you can continue finding the fault. Each section of this bank reconciliation template really serves for you as a precise function.
Below you can find an editable Bank Reconciliation Example.
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