Bank Reconciliation
Use most of the facilities at the present time to keep their money in banks because of banking services performed by banks to their clients and also to the risks that may be exposed to the facility as a result of keeping their money in the treasury of the risk of theft or embezzlement or other, and therefore the facility you open a current account in the Bank have have the freedom to deposit, withdraw whenever you want according to certain procedures, and retain established a special account the bank has at the end of each financial period is the inventory for cash balances in the bank by the match between the bank account shown on the books of the facility and the balance of the account established in the books of the bank and usually send banks revealed account for the entity describes the operations carried out by the facility of deposits and withdrawals from their account
By the bank during the specific financial and notes that the two positions Ikunan opposite in the sense that the balance of a bank account in the books of the entity be a debtor while the account balance is established in the books of the Bank and the facility creditor.
At the end of the financial period and when you make a match between the bank statement and bank account books of Professor may match the two positions often differ for the following reasons:
1 - the benefits of being in favor of the facility.
2 - at the expense of benefits under the facility.
3 - under bank fee.
4 - deposits from customers did not reach the notice from the bank.
5 - checks are rejected, and that is not proven in the books of the facility as a result of non-arrival of notifications from the bank.
6 - The amounts are recorded in the books of the bank account established and registered in the bank statement For example: -
Checks drawn on the bank for the benefit of suppliers and recorded in the books of the facility was provided to the bank yet to be paid until the end of the year.
Checks sent to the bank for the collection was not collected by the bank until the end of the year and these amounts are recorded in the books of the bank account established.
For all these reasons or some of it is necessary to prepare a memo to the settlement bank account, and to settle the bank account in the books of the facility with the bank statement, it must prepare a memorandum of the settlement to ensure the validity of the balance in the bank, at least at the end of the financial period and the preparation of final accounts and balance sheet,
It is noted that the processes relating to the bank and recorded in the books of the entity but it is not recorded in the bank statement, it was not a problem and do not require accounting entry because it is restricted already the operations are not recorded in the books of the facility and recorded in the bank statement is required need for an accounting entry to prove before closing of the accounts and before preparing a memorandum of settlement.
Use most of the facilities at the present time to keep their money in banks because of banking services performed by banks to their clients and also to the risks that may be exposed to the facility as a result of keeping their money in the treasury of the risk of theft or embezzlement or other, and therefore the facility you open a current account in the Bank have have the freedom to deposit, withdraw whenever you want according to certain procedures, and retain established a special account the bank has at the end of each financial period is the inventory for cash balances in the bank by the match between the bank account shown on the books of the facility and the balance of the account established in the books of the bank and usually send banks revealed account for the entity describes the operations carried out by the facility of deposits and withdrawals from their account
By the bank during the specific financial and notes that the two positions Ikunan opposite in the sense that the balance of a bank account in the books of the entity be a debtor while the account balance is established in the books of the Bank and the facility creditor.
At the end of the financial period and when you make a match between the bank statement and bank account books of Professor may match the two positions often differ for the following reasons:
1 - the benefits of being in favor of the facility.
2 - at the expense of benefits under the facility.
3 - under bank fee.
4 - deposits from customers did not reach the notice from the bank.
5 - checks are rejected, and that is not proven in the books of the facility as a result of non-arrival of notifications from the bank.
6 - The amounts are recorded in the books of the bank account established and registered in the bank statement For example: -
Checks drawn on the bank for the benefit of suppliers and recorded in the books of the facility was provided to the bank yet to be paid until the end of the year.
Checks sent to the bank for the collection was not collected by the bank until the end of the year and these amounts are recorded in the books of the bank account established.
For all these reasons or some of it is necessary to prepare a memo to the settlement bank account, and to settle the bank account in the books of the facility with the bank statement, it must prepare a memorandum of the settlement to ensure the validity of the balance in the bank, at least at the end of the financial period and the preparation of final accounts and balance sheet,
It is noted that the processes relating to the bank and recorded in the books of the entity but it is not recorded in the bank statement, it was not a problem and do not require accounting entry because it is restricted already the operations are not recorded in the books of the facility and recorded in the bank statement is required need for an accounting entry to prove before closing of the accounts and before preparing a memorandum of settlement.
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