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4.01 Steps For Reconciling A Bank Statement

This document provides steps for reconciling a bank statement, which involves adjusting the checkbook balance and bank statement balance by adding or subtracting outstanding deposits, bank charges, and checks. The key steps are to record the checkbook and bank statement balances, adjust them by adding deposits and subtracting charges and outstanding checks, and ensure the adjusted balances are equal.

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35 views2 pages

4.01 Steps For Reconciling A Bank Statement

This document provides steps for reconciling a bank statement, which involves adjusting the checkbook balance and bank statement balance by adding or subtracting outstanding deposits, bank charges, and checks. The key steps are to record the checkbook and bank statement balances, adjust them by adding deposits and subtracting charges and outstanding checks, and ensure the adjusted balances are equal.

Uploaded by

api-262218593
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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4.

01 Steps for Reconciling a Bank Statement

Adjusted Checkbook Balance (left side of form) Adjusted Bank Balance (right side of form)

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4.01 Steps for Reconciling a Bank Statement

Adjusted Checkbook Balance (left side of form) Adjusted Bank Balance (right side of form)

Write the date on the reconciliation form. Write the date on the reconciliation form.
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Record the ending balance from the bank
Record the balance from the checkbook. statement.
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Subtract any bank service charges in the
Bank Charges section. Add outstanding deposits.
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Write in the Adjusted Checkbook Balance. 8 Calculate Subtotal.


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Subtract outstanding checks.
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1 Write in the Adjusted Bank Balance.

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Compare the adjusted balances. The two
balances must equal.
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