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					      STEPS IN PREPARING A BANK RECONCILIATION STATEMENT

  1. Compare the opening balance (bank records with your records)
     (Bank balance (at the top of the page) of the bank statement and the balance in your records)

      Place a tick      against both balances if they agree.

    If they do not agree refer to the previous bank reconciliation statement
    compare last balance with your records - tick
    check if outstanding deposits and unpresented cheques appear on the bank statement - tick

  2. Compare the entries in the credit (deposit) column of the bank statement with entries in the
     bank column of the cash receipts journal. Place a tick against both if they agree.

  3. Compare the entries in the debit (withdrawals) column of the bank statement with entries in
     the bank column of the cash payments journal. Place a tick against both if they agree.

  4. Un-ticked debit (withdrawal) entries on the bank statement are to be entered in the cash
     payments journal and ticked     when entry has been completed.

  5. Un-ticked credit (deposit) entries on the bank statement are to be entered in the cash receipts
     journal and ticked    when entry has been completed.

CHECK THAT ALL ENTRIES IN THE BANK STATEMENT ARE NOW TICKED

  6. Total all money columns in the cash receipts journal.

 7. Total all money columns in the cash payment journal.

                     (complete your chequebook record and go to step 11) or

  8. Post the total of the bank column in the cash receipts journal to the DEBIT of the cash at
     bank account.

  9. Post the total of the bank column in the cash payment journal to the CREDIT of the cash a
      bank account.

 10. Balance the cash at bank account.

 11. Prepare a Bank reconciliation Statement.

CHECK THAT THE FINAL BALANCE IN THE BANK RECONCILATION STATEMENT
AGREES WITH THE FINAL BALANCE IN THE CHEQUEBOOK RECORD OR CASH AT
BANK ACCOUNT.


                          CONGRATULATIONS YOU HAVE BALANCED!

BANK RECONCILIATION

				
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