2nd October 2019


When you reconcile a bank statement how do you account for outstanding checks?

In the bank reconciliation process, the total amount of outstanding checks is subtracted from the ending balance on the bank statement when computing the adjusted balance per bank. Checks that are outstanding for a long period of time are known as stale checks.

Likewise, people ask, how do you reconcile a bank statement?

Match each of the deposits in your records to those noted on the bank statement. If you have recorded a deposit that the bank had not yet received during the month, list this deposit as a reconciling item that should be added to the bank's ending cash balance for your account.

How do you balance a bank statement?

Start with the ending balance on your bank statement and add the deposits that aren't on the statement. Then subtract any transactions that aren't on the statement. The total should match the running balance on your account register. If the numbers don't match up, you've probably forgotten to record a transaction.

What is the cash balance per books?

In the bank reconciliation the term book balance may be referred to as the balance per books, and it is the amount shown in the company's records. For example, the book balance at June 30 refers to the balance in the company's general ledger account Cash or Checking Account.
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