9. Bank reconciliations
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Last updated 2:07 PM on 11/18/25
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6 Terms
1
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counter credit
cash and cheques paid into the business鈥檚 bank account at the bank鈥檚 counter by someone from the business
2
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dishonoured cheques
cheques paid into the business鈥檚 bank, and is returned by the bank unpaid
3
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unpresented cheques
money OUT
have been recorded in the cash book (Cr), but don鈥檛 appear in the bank statement
4
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unrecorded lodgement
money IN
money that has been received and recorded in the cash book (Dr), but does not appear in the bank statement
5
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what is the primary reason for bank reconciliation being performed?
business can check the accuracy of it鈥檚 cash book
6
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bank statement adjustments
outstanding lodgements
Note 
Flashcards (106)