How to Prepare a Bank Reconciliation
Examine the bank statement balance.. Increase the bank balance for any deposits that have not posted (also known as deposits in transit).. Decrease the bank balance for all outstanding checks.
Steps
1
Examine the bank statement balance.
Examine the bank statement balance.
2
Increase the bank balance for any deposits that have not posted (also known as d
Increase the bank balance for any deposits that have not posted (also known as deposits in transit).
3
Decrease the bank balance for all outstanding checks.
Decrease the bank balance for all outstanding checks.
4
Check for any errors made by the bank's processing department.
Check for any errors made by the bank's processing department.
5
Verify that all checks have posted.
Verify that all checks have posted.
6
Confirm that all deposits have posted.
Confirm that all deposits have posted.
7
Subtract any service charges and automated debits.
Subtract any service charges and automated debits.
8
Check for any errors you've made during the month.
Check for any errors you've made during the month.
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