Bank Reconciliation
Gbogbo ọrọ náà
The business keeps its own record of money in the bank, the bank column of the cash book, and the bank keeps its own record, the bank statement. The two should describe the same account, yet they rarely show the same balance on any given day. Cheques take time to clear, deposits take time to appear, and the bank quietly adds charges and collects standing orders that the business has not yet written up. Bank reconciliation is the disciplined process of explaining every one of those differences.
In this lesson you will learn why the two records differ, how to bring the cash book up to date with the items only the bank knew about, and how to prepare a bank reconciliation statement that ties the updated cash book balance to the bank statement balance. You will see why this is a powerful control against fraud and error, and how the move to digital banking is changing the picture.
Ebumnobi
- the use and purpose of a bank statement.
- how to update the cash book for bank charges, bank interest paid and received, correction of errors, credit transfers, direct debits, and standing orders.
- the purpose and preparation of a bank reconciliation statement to include bank errors, uncredited deposits and unpresented cheques.
- the impact of digital business transactions on the bank reconciliation process.
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na Bank Reconciliation. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- An item that appears in the cash book but not yet on the bank statement is a: A. Bank charge B. Standing order C. Cheque not yet presented D. Dividend Answer: C
- Bank charges shown on the statement should be: A. Added in the reconciliation statement B. Credited in the updated cash book C. Debited in the updated cash book D. Ignored Answer: B
- A bank reconciliation statement starts with the bank statement balance of $3 000, adds $500 not yet credited and deducts $800 unpresented cheques. The updated cash book balance is: A. $2 700 B. $3 300 C. $4 300 D. $1 700 Answer: A
- Money paid into the bank appears in the cash book as a debit and on the bank statement as a: A. Debit B. Credit C. Balance b/d D. It does not appear Answer: B
- Which item is entered in the updated cash book rather than the reconciliation statement? A. An unpresented cheque B. An amount not yet credited C. A direct debit paid by the bank D. A timing difference Answer: C
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Bank Reconciliation? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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