Accounting Paper 1 - Bank Reconciliation

Steps for Bank Reconciliation

1. tick of the items that appear in both bank statement and cashbook

2. unticked items on bank statement are entered into the cashbook - tick these off now and balance the cashbook

3. remaining unticked items from cashbook will be timing differences which are used to make the bank reconciliation statement

4. enter unticked cashbook items in bank reconciliation - should balance

Bank Reconciliation Statement

Balance Per Cashbook (new balance b/d from Cashbook)

+ Unpresented Cheques (unticked Cr in Cashbook)

- Outstanding Lodgements (unticked Dr in Cashbook)

= Balance Per Bank Statement

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