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Short Notes (CH 15)

This document outlines the two-step process for performing a bank reconciliation. Step 1 involves correcting the cash book balance by adjusting for any omissions, errors, or timing differences to get the accurate cash book balance. Step 2 reconciles the corrected cash book balance to the bank statement balance by accounting for any unpresented or unlodged cheques as well as any bank errors. The goal is to ensure the corrected cash book balance and bank statement balance are equal.

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Ingyin Khine
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0% found this document useful (0 votes)
54 views1 page

Short Notes (CH 15)

This document outlines the two-step process for performing a bank reconciliation. Step 1 involves correcting the cash book balance by adjusting for any omissions, errors, or timing differences to get the accurate cash book balance. Step 2 reconciles the corrected cash book balance to the bank statement balance by accounting for any unpresented or unlodged cheques as well as any bank errors. The goal is to ensure the corrected cash book balance and bank statement balance are equal.

Uploaded by

Ingyin Khine
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Chapter (15) Bank Reconciliations

Step 1 Corrected Cash Book Balance


Cash Book Before xxx ?

Omission
Bank charges (x x x)
Standing Order (x x x)
Direct Debit (x x x)
Direct Credit xxx
Dishonoured Cheque (x x x)

Cash Book Errors x x x/(x x x)

Corrected Cash Book Balance xxx ?

Step 2 Bank Reconciliations


Balance as per Bank Statement xxx

Timing difference
Unpresented Cheque (x x x)
Unlodgement Cheque xxx

Bank Errors x x x/(x x x)

Corrected Cash Book Balance xxx ?

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