How to do Bank Reconciliation

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

How to do Bank Reconciliation

How to do Bank Reconciliation

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

BANK RECONCILIATION STATEMENT

As at: {{reconciliation_date}}

Bank Account Name: {{bank_account_name}}

Bank Account Number: {{bank_account_number}}

1. Balance per Bank Statement

The closing balance as per the bank statement on {{reconciliation_date}}:

Amount: {{bank_statement_balance}}

2. Additions to Bank Balance (Deposits in Transit)

These are deposits recorded in the company's books but not yet reflected in the bank statement:

- Date: {{deposit_date_1}}, Description: {{deposit_description_1}}, Amount: {{deposit_amount_1}}

- Date: {{deposit_date_2}}, Description: {{deposit_description_2}}, Amount: {{deposit_amount_2}}

Total Deposits in Transit: {{total_deposits_in_transit}}

3. Deductions from Bank Balance (Outstanding Cheques)

These are cheques issued by the company and recorded in its books but not yet cashed by the recipients and cleared by the bank:

- Cheque No: {{cheque_no_1}}, Date: {{cheque_date_1}}, Payee: {{cheque_payee_1}}, Amount: {{cheque_amount_1}}

- Cheque No: {{cheque_no_2}}, Date: {{cheque_date_2}}, Payee: {{cheque_payee_2}}, Amount: {{cheque_amount_2}}

Total Outstanding Cheques: {{total_outstanding_cheques}}

4. Adjusted Bank Balance

Calculated as: Balance per Bank Statement + Deposits in Transit - Outstanding Cheques

Adjusted Bank Balance: {{adjusted_bank_balance}}

5. Balance per Cash Book (Company Records)

The closing balance as per the company's cash book on {{reconciliation_date}}:

Amount: {{cash_book_balance}}

6. Additions to Cash Book Balance (Bank Credits not yet recorded)

These include items such as interest earned, direct deposits, or notes collected by the bank on the company's behalf, not yet recorded in the cash book:

- Date: {{credit_date_1}}, Description: {{credit_description_1}}, Amount: {{credit_amount_1}}

- Date: {{credit_date_2}}, Description: {{credit_description_2}}, Amount: {{credit_amount_2}}

Total Bank Credits: {{total_bank_credits}}

7. Deductions from Cash Book Balance (Bank Debits not yet recorded)

These include items such as bank charges, direct debits, or dishonoured cheques, not yet recorded in the cash book:

- Date: {{debit_date_1}}, Description: {{debit_description_1}}, Amount: {{debit_amount_1}}

- Date: {{debit_date_2}}, Description: {{debit_description_2}}, Amount: {{debit_amount_2}}

Total Bank Debits: {{total_bank_debits}}

8. Adjusted Cash Book Balance

Calculated as: Balance per Cash Book + Bank Credits - Bank Debits

Adjusted Cash Book Balance: {{adjusted_cash_book_balance}}

9. Reconciliation

The Adjusted Bank Balance of {{adjusted_bank_balance}} should equal the Adjusted Cash Book Balance of {{adjusted_cash_book_balance}}. Any remaining differences should be investigated and resolved promptly.

If there is a difference, please explain: {{discrepancy_explanation}}

Signature

Prepared by: {{preparer_name}}

Signature: __________________________

Date: {{preparation_date}}

Reviewed by: {{reviewer_name}}

Signature: __________________________

Date: {{review_date}}