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General Accounting Discussions: bank reconciliation

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  1.  
    • CommentAuthorsanafar
    • CommentTimeMay 16th 2008
     
    Hi

    I have recently started doing bank reconciliation and am confused about some issues. When we have previous month's
    bank rec, and we are supposed to make the bank rec statement for the current month, do we begin with the adjusted or the unadjusted ending bank and book balances to begin with as a base?
  2.  
    The book (G/L) balance is actual and the bank balance an adjusted figure to the book balance. Adjusted by outstanding checks and deposits in transit. So you always start with the actual book balance figure which equals the adjusted bank balance figure.
    • CommentAuthorlorelee
    • CommentTimeMay 28th 2008
     
    Perfect Answer !
    Thankful People: alem

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