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232 results for "bank reconciliation"

Q&A

What is a bank reconciliation? | Q&A

What is a Bank Reconciliation A bank reconciliation is a process performed by a company to ensure that its records (check register, general ledger account, balance sheet, etc.) are correct. This is done by comparing the...

Explanation

Bank Reconciliation - Part 1 | Explanation

Our Explanation of Bank Reconciliation will show you the needed adjustments to the balance on the bank statement and also the adjustments needed to the balance in the related general ledger account. A comprehensive example is given to illustrate how to determine the correct cash balance to be reported on a company's balance sheet.

Explanation

Bank Reconciliation - Part 2 | Explanation

Our Explanation of Bank Reconciliation will show you the needed adjustments to the balance on the bank statement and also the adjustments needed to the balance in the related general ledger account. A comprehensive example is given to illustrate how to determine the correct cash balance to be reported on a company's balance sheet.

Q&A

Bank Reconciliation | Q&A

We've answered 42 popular questions related to the topic Bank Reconciliation. Review them all or use the search box found at the top of each page of our website for your specific questions.

Quiz

Bank Reconciliation | Quiz

This 20-question quiz is a fast way to assess your understanding of the Bank Reconciliation Explanation. It's also a great warmup for our Quick Tests.

Dictionary

bank reconciliation | Dictionary

The process of comparing the amounts in the Cash account in the general ledger to the amounts appearing on the bank statement. The objective is to be certain that there is consistency between the amounts and that the...

Business Forms

Bank Reconciliation | Business Forms

Our two bank reconciliation forms will help you to identify which adjustments are to be made to the general ledger accounts and which pertain to the bank balance. All of our business forms contain an Excel template, a blank PDF form, and a filled-in PDF form.

Business Form

Bank Reconciliation | Business Form

This form lists the usual adjustments needed for the bank balance and the usual adjustments for the general ledger balance. This user-friendly form also indicates the journal entries required by the reconciliation....

Q&A

How do you balance a checkbook? | Q&A

You balance a checkbook by comparing the amounts on your bank statement or in your bank account to the amounts you have in your checkbook or check register. Accountants refer to this as reconciling the bank statement or...

Q&A

What is an unpresented check? | Q&A

An unpresented check is a check written by a company and entered in its records, but the check has not yet cleared the company's checking account. In other words, the check has not yet been paid by the bank on which the...

Q&A

What is a deposit in transit? | Q&A

Definition of Deposit in Transit A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on...

Q&A

What is an outstanding deposit? | Q&A

An outstanding deposit refers to a company's receipts (cash, checks from customers, etc.) which have been recorded by the company, but the amount will appear on its bank statement at a later date. An outstanding deposit...

Q&A

What is an outstanding check? | Q&A

Definition of Outstanding Check An outstanding check is a check that a company has issued and recorded in its general ledger accounts, but the check has not yet cleared the bank account on which it is drawn. This means...

Q&A

What is a checking account? | Q&A

A checking account is a bank account in which a company deposits money and can subsequently withdraw the money by writing a check, by using a debit card, arranging for electronic transfers, etc. Except for the...

Q&A

What is an uncleared cheque? | Q&A

An uncleared cheque is a cheque that has been written and recorded in the payer's records, but the cheque has not yet been paid by the bank on which it is drawn. In the U.S. accounting textbooks, an uncleared cheque is...

Q&A

Reconciling the Bank Statement | Q&A

Here's a tip a dear neighbor (Herb) had learned in the 1920's from an instructor at a technical college: When doing the bank reconciliation, put it where it ain't. He found it to be helpful and wanted me to share it....

Dictionary

outstanding checks | Dictionary

Checks which have been written, but have not yet cleared the bank on which they were drawn. In the bank reconciliation, outstanding checks are deducted from the balance per bank. To learn more, see Explanation of Bank...

Q&A

What is float? | Q&A

In accounting and bookkeeping, float is the time between the writing of a check and the time that the check clears the bank account on which it is drawn. For example, Payer Corporation writes a check for $5,000 and...

Q&A

Are undeposited checks reported as cash? | Q&A

Undeposited checks that are not postdated (not dated with a future date) are reported as cash. Accountants define cash as more than just currency and coins. For example, unrestricted checking accounts are also reported...