What items are added to the balance per bank on the bank reconciliation?

Bank Reconciliation Adjustments to Bank Balance

The items that are added to the balance per bank when doing a bank reconciliation include:

  • Deposits in transit which include the cash and checks that were received by a company as of the date of the bank statement, but were not deposited in time for them to appear on the bank statement
  • Bank errors which resulted in too much withdrawn from the bank account or too little added to the bank account.

[Items that are subtracted from the balance per bank on the bank reconciliation include outstanding checks, and bank errors that when corrected will reduce the bank balance.]